Posts Tagged ‘cash flow events’
A neglected conversation in passive income – By Douglas Vermeeren, The worlds #1 Passive Income Coach
The conversation that most people are having around passive income is always around how to make more money. While this is an important conversation it is missing a very essential component if you want to become wealthy. (it also lets you know clearly who understands wealth from Passive Income and who does not.)
A Passive Income Lifestyle and wealth through passive income must include more than an understanding of creating income streams, it must also include a conversation around how to preserve and protect the income generated through passive income streams.
NO, I’m not just talking about a boring conversation around tax strategies and financial planning. Protecting assets and money generated through passive income is generally more complex (and important) than what can be done around regular income streams. Often times passive income comes from untraditional or unconventional methods and that means you need to have specific and appropriate ways to protect it.
You will need to find an accountant who is well versed in how technology of today generates money, the expenses associated with the use of this technology and also an understanding that you may no longer be based in the country where you have paid taxes in the past. This is certainly true if you are a bit like me where you spend the bulk of your time abroad. In fact, you should have seen may tax returns for the years that I was abroad in Asia. As a non-resident in the country of my passport I paid very little in taxes. Obviously with more and more people gravitating towards a passive income lifestyle that includes travel and living abroad these are certainly considerations you need to be aware of.
As for marketing and technology it’s important for your preservation support team (account, bookkeeper etc.) to understand that marketing is the lifeblood of online passive income. Without it you cannot thrive. But they also need to understand the experimental nature of some of the campaigns. Not only can you discover tax deductions as a marketing expense but these can also receive benefits as R & D (Research and development) for you company. Just a consideration for you to be aware of.
And certainly the systems you need to create to support delivery of online products or digital delivery are often overlooked. These are components that traditional businesses often received benefits and deductions to create in the real world but are often overlooked online.
As the rest of the world catches up to the online world there will yet be many interesting changes and considerations given. Be sure that those you select to help you are aware and can support you in preserving your assets and capital.
Stick close as we explore some of these ways in the future.
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Some essential considerations in creating Passive Income – By #1 Passive Income Coach
Creating passive income can be hard work in the beginning. Most people in fact, never get to a high level of passive income because they give up or lose hope when the rewards don’t immediately arrive. Passive Income, when done properly, requires commitment, effort and energy. (And it’s kind of obvious who is really doing in real life when you see how people talk about passive income.)
It will also be a passive results always followed by an absolutely active beginning. Without your expertise you will also find it more difficult. Those that will buy from you to create your passive income have many choices today. They aren’t looking to give their money to people that can’t get them results or the information they need quickly – and they don’t want the same information they’ve seen everywhere else.
Passive income is really for those who are prepared to stretch and serve more than their competitors.Or set up better systems than their competitors.
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Why you need passive income – by the #1 Passive Income coach
Passive Income is supposed to be just that PASSIVE. That means that it does not occupy much of your time once it is set up and running. Can you believe that as I am here snorkelling and finding sea shells I am making money. This is the kind of experience I believe everyone should have. And it’s not that difficult to do if you know the right systems to set up.
Passive income is your ticket to freedom and it is the way that all wealthy people build their fortunes.
No one wealthy trades time for money.
They just don’t do it.
I am just about to launch my newest ebook that will show you how to build passive income in your life. I am excited about this because this book reveals how you can actually create passive income using easy to follow ideas and strategies. In this book I dispel so many of the passive income myths that cause most people to think it’s just too hard. It’s not.
It really easy quite straight forward and there are specific things steps you can take immediately that will make it even easier. Stay tuned and shortly you can get your own copy of this easy to use manual for wealth.
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Douglas Vermeeren – Wisdom from a Millionaire
Douglas Vermeeren wisdom from a millionaire quotes
Douglasvermeeren's Blog 