Aims to: Understand alternative sources of income, other than Salaried income.
Types of income: Salaried, Passive, Porfolio and Savings
Strategy Favoured: Passive and Savings income. Portfolio can be tricky as it hinges on market timing and exit strategies.
Nature of Posts: These are low risks, require low start up costs to earn passive income. Savings have no risk.
Level of Difficulty: Depending, for Passive income, you can purchase the initial start ups and still be able to learn, except you will have a steep learning curve, or you can purchase tips and tricks to get a leg up. For Savings, it requires self control
Barriers to Entry: Time, Tenacity, Restraint
Suitable for : People who want to make a change in their lives, people with compulsive obsession to suceed. Remember, there is no free lunch in this world, and you are required to work and take responsibility for your sucess.
Thursday, January 3, 2008
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