The Best Ways To Turn Your Money Into Passive Income

passive income relaxing on the beach

I often come across students with a chunk of savings who want to know the best way to turn that around into a passive income stream.

In our terminology we’d call that the FFA: the Financial Freedom Account. In that sense, it almost doesn’t matter what you do with a chunk of savings like that as long as it’s money that’s going to work for you.

If you know that your book publishing is going to be a passive income structure, then go ahead and use it. If you know you’re going to open up a business that’s going to be systematized and leveraged eventually, and you’re going to have passive income coming from there, go for it.

If you can create a situation where you’re investing and that works, then use some of it there. Anything you can do that creates financial freedom through passive income or capitalized investment income is fine.

Now let’s get to the longer part of the story here. People lose money and make money in all kinds of investing, whether in a business, stocks, real estate, etc. Everyone is different.

There’s no system of investing that will work for everyone. Why? In my experience, people are the ones who screw up the system–it’s not the system that’s so bad.

A lot of people lose money in the system because a lot of people have terrible ways of thinking around money. They sabotage themselves and don’t follow the system.

Eighty percent of people in business lose everything. Is it the business or them? It’s them. Eighty percent of people who do anything fail at it. Is it the thing or them? It’s them.

So the answer is decide on something you want to get good at.

Here’s how you decide on how to turn your money into passive income:

1. Are other people doing well? The only way to know if a system works is if its developers are making money. If there are some people making money with it, then it works. “Yes, but it’s not the majority.” That’s right. If you notice, the majority is broke.

2. Does it resonate with you? What do you feel? If you don’t want to invest in stocks, don’t do it. My investment in stocks themselves is minimal in comparison to other investments that I’ve done.

Why? I’m just not the biggest fan of stocks. Some people love ’em. I just don’t have time to do a system, run it properly and all that. I have other favorite investments that resonate with me. They’re not for everybody.

Let me give you one investment that I like that you might hate: real estate. First of all, it’s generally not as manipulated as the stock market. Manipulated means these massive companies manipulating stock prices based on whether they’re buying or selling.

I’m not saying they’re bad or good, but some of these big companies will tell all their brokers around the world to sell XYZ stock today, and they all do. Then when it’s down, they buy it.

I don’t like that whole game. I’m not saying everybody does it. Can you still make money with stocks? Absolutely you can. A lot of people do, but I like real estate.

I like real estate because first of all, I can touch it. Second, I like looking at it. Third, over the long run it will always go up. It’s a passive income structure if you buy it for positive cash flow right from the very beginning.

You say, “I don’t have a lot of money for that.” Learn how to buy positive cash flow real estate. Then learn how to buy it with very little of your own money.

The key word here is LEARN. You can learn anything and a lot of times you can learn enough for free or next to nothing.

So LEARN real estate. It’s not that hard.

LEARN stock systems. Find one’s that people do well with.

LEARN how to systemize your business.

A journey of a thousand miles starts with ONE STEP. Learning for most is the first one.

What are your thoughts and experiences with investments? If you want to invest but don’t, what holds you back?

While these sharings aren’t intended as sound investing advice, there’s a lot we can learn from each other that can perhaps guide us along our collective journey to greater financial freedom. We want to hear from you!

On September 15th, we held a T. Harv Eker Signature Class:

“Zero To MultiMillionaire: The Ultimate Business Success Formula”

If you didn’t make it to the event, click here to watch the replay.

 
For Your Freedom,