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Realities behind creating passive income By Barbara Diggs • Bankrate.com

Posted by on March 11, 2015 in News

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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