When it comes to wealth-building strategies, there’s no hotter buzzword at the moment than “passive income.” And passive income can do much to quell retirement fears and achieve retirement goals.
For example, to generate $1,000 a month in retirement income from a portfolio, you’d have to amass about $250,000, assuming a 5 percent withdrawal rate. Better to generate a stream of income using creative avenues.
Investopedia defines passive income as “earnings an individual derives from a rental property, limited partnership or other enterprise in which he or she is not actively involved.” Popular culture, however, defines it as “any money you earn while sitting on a beach sipping mojitos.”
Financial coach and expert Todd Tresidder thinks it falls somewhere between the two, defining passive income as the money you earn from a project or investment after you’ve made an initial contribution of time or money.
“Many people think that passive income is about getting something for nothing,” says Tresidder, founder of Financial Mentor.com, a financial coaching service. “It has a ‘get rich quick’ appeal … but in the end, it still involves work. You just give the work upfront.”
If you are interested in creating a passive income I invite you to view a 5 minute video overview of Ambit Energy a business that fits in with your current schedule. Click here http://patriots.energygoldrush.com and a video will automatically load and play. If you desire additional information there is a place to request it that only comes to me. Ambit Energy is BBB Rated A+, JD Powers Award Winners and INC Magazines fastest growing company in America. Explore if it is a fit for you.
Thank you, contact me any time Patrick Mellody – Hire Patriots Ambassador Patrick@hirepatriots.com716.997.2522 web site: http://hirepatriots.com/heroes
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About The AuthorPatrick
Even if you’re not unemployed a budget is a budget and this free book download has everything you need to start fresh and move forward. The book is only 20 pages long but it includes real life stories and forms to kick start a solid spending plan for the future.
By the time you’re done with this book you will know your income and outgo by spending category plus a percentage guideline chart that will show you where adjustments may be needed.
I don’t ask for any contact info, it’s a free PDF. Just click on the book cover above.
Here’s what others are saying about the book:
“This is a practical book full of proven strategies you can use immediately to get your financial life back under control.”
~Brian Tracy – Author, The Power of Self-ConfidenceGordon Wadsworth – Author of “Debt Free College” and “The College Trap”
In reference to “The Unemployment Budget,” this has to be the number one book for getting out of debt in record time. In today’s world of fast food, fast oil changes, fast delivery and fast messaging, why not tackle your debt problems fast and move ahead quickly. Basically, that’s what you can do after reading this simple “how to” book.
As a financial instructor for many years, the one tool that I used to help people get out from the bondage of debt, author Patrick Mellody has as the main focus in The Unemployment Budget. It’s explosive and it works every time. Whether you are employed or unemployed, if you’re still hanging onto never ending credit card debt and car payments, check out this new book and get rid of your debt fast.Follow me on