One of the com­plaints I keep hear­ing over and over again is this:

“Why can’t I earn extra income?”

Most of the time, it’s not because your port­fo­lio isn’t diver­si­fied enough or because you’re not invest­ing in the right com­modi­ties, but rather in your mind.

Specif­i­cally, your wealth mind­set.

This is because every action you take, every thought you have, every remark you make stems from your atti­tude and your per­spec­tive. And unless you change the way your mind thinks about money, your actions, words, and thoughts will never be on the right path to abundance.

I found this great arti­cle on how to develop and use a wealth-focused mind. It says a lot about how we should focus our energy and the com­mon mis­takes many aspiring-millionaires make.

Build­ing a Wealth and Pros­per­ity Mindset

From MetaphysicalTeachers.com

One sure way to boost your odds of becom­ing suc­cess­ful is to have a mind­set geared toward wealth and pros­per­ity. Why? Because the actions you take on a daily basis – right down to the amount of effort you put toward your goals – stem directly from your state of mind.

Believ­ing you can accom­plish some­thing is the first step in actu­ally doing it.

Unfor­tu­nately many of us pay lit­tle atten­tion to our mind­set, and end up cre­at­ing a whole lot of strug­gle and dif­fi­culty for our­selves in the process! The good news is that cre­at­ing a wealth and pros­per­ity mind­set can be achieved quickly and eas­ily with a lit­tle know-how and some determination.

This report will share some help­ful insights on:

• Exactly what a wealth and pros­per­ity mind­set is

• Why it’s vital to have one if you want to succeed

• How to develop your mind­set for wealth and prosperity

What is a Wealth and Pros­per­ity Mindset?

The com­mon def­i­n­i­tion of “mind­set” is: a men­tal atti­tude or incli­na­tion, or a fixed state of mind. So, a wealth and pros­per­ity mind­set would mean an atti­tude or incli­na­tion that causes us to focus on abundance.

It may sur­prise you to learn that most peo­ple focus on the oppo­site. They focus on want­ing more pros­per­ity, seek­ing greater wealth, and pur­su­ing both at any cost.

In other words, they focus on the fact that they do not yet have wealth or pros­per­ity, which means they actu­ally have a scarcity or poverty mind­set. They focus more on what they’re lack­ing, the things they can’t afford to buy, and even worse – feel­ing resent­ful toward peo­ple who are already wealthy.

Does this describe your gen­eral atti­tude, too? If so, don’t let it get you down! It’s actu­ally very com­mon to have this mind­set, and you can turn it around start­ing right now.

All you need is the will­ing­ness to start think­ing in a dif­fer­ent way and the courage to take actions based on this new way of think­ing. Don’t worry; you won’t have to take ground­break­ing actions; just one step at a time will move you in the direc­tion you want to go.

To con­tinue read­ing, click here »

I know quite a few of you out there have blogs already, which is awe­some, but just how do you start to earn extra income from it.

It might come across as mean but most blogs out there fail at mak­ing money. But if you’re read­ing this already, then you’re not like most people.

Here is a great arti­cle on how to make money from your blog from Steve Pavlina. It goes through the tech stuff, the stats, traf­fic, ads, and more.

How to Make Money From Your Blog

by Steve Pavlina

StevePavlina.com was launched on Oct 1st, 2004. By April 2005 it was aver­ag­ing $4.12/day in income. Now it brings in over $200/day $1000/day (updated as of 10/29/06). I didn’t spend a dime on mar­ket­ing or pro­mo­tion. In fact, I started this site with just $9 to reg­is­ter the domain name, and every­thing was boot­strapped from there. Would you like to know how I did it? Read More…

Hello,

As promised, I will be fol­low­ing up on some pas­sive income tac­tics using the inter­net, blog­ging, and affil­i­ate marketing.

As a starter, here is a great site that focuses on just affil­i­ate mar­ket­ing resources. I hope you guys find this ben­e­fi­cial. It’s great for new­bies and peo­ple who need a refresher.

“81 Use­ful Affil­i­ate Mar­ket­ing Resources

by Steven from Blogtrepreneur.com

Whilst the idea of sell­ing a prod­uct on behalf of another com­pany or per­son has existed for a long time, affil­i­ate mar­ket­ing itself was born in Novem­ber 2004, but has only really taken off in the past few years. New gen­er­a­tions of affil­i­ate mar­keters are rak­ing in mas­sive per month prof­its, and more peo­ple are start­ing to expe­ri­ence prof­its through this method. Here is a list (which is by no means defin­i­tive) to help you get started — please feel free to sug­gest any­more if you so wish!

Key­word Tools

If you are cre­at­ing web­sites, or even pages, to tar­get spe­cific affil­i­ate pro­grams you will need to know what key­words to tar­get. Addi­tion­ally, many affil­i­ates use PPC ads, which is heav­ily depen­dant on key­word research:

1. Google AdWords Key­word Tool — Get key­word sug­ges­tions with some search and com­pe­ti­tion stats.
2. Key­words Ana­lyzer — One of the lead­ing key­word tools, espe­cially for PPC mar­keters ($97).
3. Word­tracker — Another lead­ing key­word tool ($329 for one year sub­scrip­tion).
4. Wordze — Another subscription-based tool ($35/month).
5. Over­ture — A pop­u­lar key­word selec­tor tool.
6. SEO­Book — Sev­eral dif­fer­ent key­word tools. Read More…

One of the fun­da­men­tals of reshap­ing your mind­set for wealth is real­iz­ing that you should not be jeal­ous of suc­cess and wealth, but rather emu­late and respect it.

Of course, I’m not talk­ing about cor­rupt gov­ern­ment offi­cials, but of suc­cess­ful entre­pre­neurs and busi­ness people.

Out of all the pros­per­ous peo­ple out there, Richard Bran­son has got to be one of the most inter­est­ing, wealthy, and happy.

So here’s a great arti­cle on him that focuses on what makes him shine above the rest of the entre­pre­neurs and busi­ness peo­ple. What is it that has made him so suc­cess­ful? It comes down to two things: com­mu­ni­ca­tion and atten­tion to detail.

Read the arti­cle below for inspi­ra­tion and motivation.

(source)

Richard Branson’s Spe­cial Deliv­ery: Details and Com­mu­ni­ca­tion Make the Difference

by Michelle Rogers

Pio­neer. Mav­er­ick. Inno­va­tor. These are words you could throw at Richard Bran­son and they would stick. He’s our intre­pid rebel bil­lion­aire. When you think ‘Richard Bran­son’, you think hot air bal­loon­ing in Africa; you think com­pany launches replete with bikini-clad mod­els; you think man­age­ment by phone from Necker Island. You don’t think ‘com­mu­ni­ca­tion’, and you cer­tainly don’t think ‘details’. But, as he explains in his lat­est book Busi­ness Stripped Bare, when you’re talk­ing about deliv­ery – exe­cut­ing in your busi­ness – it all comes down to details and com­mu­ni­ca­tion. Read More…

Now I know some of you may think that auto­mated trad­ing is immensely risky but it can be an extremely prof­itable income stream.

So for those who are inter­ested, have a look at this arti­cle. It cov­ers the bare basics of auto­mated trad­ing cou­pled with some resources you can check out.

Remem­ber, this is only one way of cre­at­ing resid­ual income. If it doesn’t feel right to you, you can always try another way, such as rental units, blog­ging, or net­work marketing.

Auto­matic Income Poten­tial From Auto­mated Trading

From The Online Invest­ing AI Blog

In our quest to find meth­ods of pro­vid­ing resid­ual income–money that reli­ably lands at your feet month after month and year after year–we finally arrive at the last one we’ll study in this series.

To recap, we talked about own­ing rental units, invest­ing in div­i­dend stocks, invent­ing prod­ucts, and cre­at­ing dig­i­tal prod­ucts to secure resid­ual income and open the gates to finan­cial free­dom. Our last method may be the resid­ual income wave of the future.

Auto­mated trad­ing uses com­put­ers to auto­mat­i­cally place trades for you. These trades can be based on tech­ni­cal or fun­da­men­tal fac­tors, or any other stock-picking prac­tice. Alter­na­tively, a famous trader can send out posi­tion calls based on his or her own calls or methodology.

The calls are enacted nearly instan­ta­neously through inter­net tech­nol­ogy, so there’s very lit­tle lag between when the call is made and when the actual trans­ac­tion takes place.

Auto­mated Trad­ing offers busy investors and traders a chance to reap the high returns of trad­ing with the ease of automa­tion. It’s like hav­ing a high-return mutual fund. This isn’t just for stocks. Auto­mated trad­ing can be used with any asset: stocks, com­modi­ties, Forex, etc.

Click here to con­tinue reading »

If you’re ever won­der­ing why you should be work­ing on your resid­ual income stream, this would be a great answer.

When I see things like this in the news, I often think to myself, “I am so glad that I work for myself, that I am an entre­pre­neur, and that I don’t have to answer to anybody.”

I’m not rec­om­mend­ing you take any­thing from this arti­cle except for this: do the oppo­site of what these guys did and thank your lucky stars that you are on you way to finan­cial free­dom and empowerment.

I think you will find in this arti­cle that a lot of these bank­rupt­cies stem from greed and dis­hon­esty. Again, this is a good case study of things to not do.

(source)

“The 10 largest U.S. bankruptcies

From Lehman to Tex­aco, the mighty have fallen, tak­ing down bil­lions and bil­lions with them.

Lehman Broth­ers Holdings

Rank: 1
Date of bank­ruptcy fil­ing: 09/15/08
Assets: $691 billion

One of the biggest calami­ties of the cur­rent reces­sion is the fall of the once highly regarded (and one­time fourth-largest) Wall Street invest­ment firm, which was forced to file for bank­ruptcy pro­tec­tion last Sep­tem­ber, the largest cor­po­rate fil­ing in the his­tory of U.S. bank­ruptcy court. As a result, the company’s North Amer­i­can invest­ment bank­ing and trad­ing busi­nesses and New York City head­quar­ters were sold to British bank Bar­clays. Some of Lehman’s U.S. busi­nesses, includ­ing wealth man­age­ment firm Neuberger-Berman, con­tinue to oper­ate as stand-alone enti­ties under new own­er­ship. And because of the company’s global reach, its bank­ruptcy pro­ceed­ings are com­plex, ongo­ing, and have resulted in the clos­ing of 80 of the bank’s smaller subsidiaries.

Wash­ing­ton Mutual

Rank: 2
Date of bank­ruptcy fil­ing: 09/26/08
Assets: $327.9 billion

Amid fears of insol­vency, cus­tomers of Wash­ing­ton Mutual with­drew more than $16 bil­lion of deposits over a 10-day period last fall, caus­ing a gov­ern­ment reg­u­la­tor to seize the hold­ing company’s bank­ing assets and sell them to JPMor­gan Chase for $1.9 bil­lion. The fol­low­ing day WaMu filed for bank­ruptcy pro­tec­tion. What was once the nation’s largest sav­ings and loan and sixth-largest bank is now a shadow of its for­mer self. The hold­ing com­pany cur­rently is suing the FDIC for improper seizure and is seek­ing $13 bil­lion in damages.

Click here to con­tinue reading »

It’s everyone’s dream at some point or another. To cre­ate some­thing so amaz­ing you just live off the licens­ing fees or roy­al­ties with­out hav­ing to lift a fin­ger. Instead of clock­ing in your hours, you’re cruis­ing on your yacht off the coast of Monaco.

Sound too good to be true? For most peo­ple it is, but not you. Because you’ve already taken the first step by telling your­self you will live off resid­ual income and not waste your time slav­ing away for some­one else.

So if you’re cre­ative,  an inven­tor at heart, or even just good at repack­ag­ing an idea, you may want to look into this resid­ual income strat­egy. This arti­cle below gives you the pros, cons, and hows to cre­at­ing a prod­uct that will gen­er­ate you a prof­itable income stream.

“Cre­ate Prod­ucts For Income That’s Pas­sive And Massive

Ever have an idea to fix a prob­lem or sur­mount a chal­lenge and then see that very same prod­uct in a store a few years later?

And you think, “Hey, they stole my idea!”

Chances are, unless your tele­pathic pow­ers are fairly high-level, the inven­tor didn’t steal your idea. He or she just acted on the same con­cept that was float­ing around in the col­lec­tive con­scious. The dif­fer­ence is action.

If you have seen your ideas repro­duced later by other inven­tors, don’t be dis­cour­aged. In fact, you should be encour­aged. Here’s why:

Cor­rectly iden­ti­fy­ing needs and solu­tions is a good sign that you can be an inven­tor or a prod­uct devel­oper. To take that next step, you need to learn how to intro­duce your prod­uct into mar­ket. There are pri­mar­ily two ways to accom­plish this. You can either invent, pro­duce, and sell the prod­uct your­self; or, you can license the inven­tion to some­one else and col­lect a roy­alty, a per­cent­age of the sale of that product.

Most inven­tors pre­fer that lat­ter, since it’s more hands-off and inven­tors like to keep their “hands on” new ideas. It’s another form of resid­ual income that will help you secure your finan­cial freedom.

Click here to con­tinue reading »

Hey, I found this great arti­cle that gives an intro­duc­tion to the types of pas­sive income, the taxes that cover it, and some resid­ual income opportunities.

It’s a great read espe­cially if you’re new to pas­sive income. I hope you find this arti­cle beneficial.

Intro­duc­tion to Passive Income

How to Make Money By Cre­at­ing Pas­sive Income

The eas­i­est way to gain finan­cial inde­pen­dence is to recon­fig­ure your life so that a sub­stan­tial por­tion of your income is not actively earned by your labor. Instead, it must come from what those in finance call pas­sive income. In fact, the idea of pas­sive income is closely related to the Berk­shire Hath­away model, which I explain in an ear­lier feature.

The basic idea of pas­sive income is that it is money received with lit­tle or no effort required to main­tain the flow of income once the ini­tial work has been done. Some com­mon exam­ples of pas­sive income are:

• Rent from real estate properties
• Patent roy­al­ties for an invention
• Trade­mark licens­ing fees for char­ac­ters or brands you’ve created
• Roy­al­ties from books, songs, pub­li­ca­tions, or other orig­i­nal works
• Prof­its from busi­nesses in which you have lit­tle or no day-to-day role or responsibility
• Earn­ings from Inter­net adver­tise­ments in a blog or on a web­site you own
• Div­i­dends from stocks, REITs, equity mutual funds, or other equity securities
• Inter­est from own­ing bonds, cer­tifi­cates of deposit, other other cash and cash equivalents
• Pen­sions
• Resid­ual income for a sales per­son on accounts that are typ­i­cally renewed auto­mat­i­cally such as a sport­ing goods rep­re­sen­ta­tive that earns a com­mis­sion on his accounts, bring­ing in a few thou­sand dol­lars per store per year for sim­ply ser­vic­ing the cus­tomers once they have been opened

Click here to read more »

Gen­er­at­ing pas­sive income can be dif­fi­cult at first but of the 3 major types of income (earned, port­fo­lio, and pas­sive) it is the most steady.

With earned income you only get paid if you work. But what hap­pens when you’re laid off or fired? With port­fo­lio income, you would be invest­ing in future, bonds, or stocks. Sadly, the aver­age return on the stock mar­ket is 8%.  And there’s always a chance that the mar­ket will crash and head into a recession.

That’s why pas­sive income is becom­ing more and more pop­u­lar. It is robust and offers a very steady income stream.

Here are 10 ideas that can get the ball rolling for you. Let me know what you think about them.

(source)

Pas­sive Income Ideas

1. Rental Prop­erty
2. Write some soft­ware
3. Pub­lish some­thing
4. Become a part­ner with a busi­ness
5. Invent some­thing and patent it
6. Join a net­work mar­ket­ing busi­ness (one with a good train­ing pro­gram)
7. Write and sell an e-book online
8. Build a port­fo­lio of pho­tos to sell
9. Cre­ate a prod­uct and sell it through affil­i­ates
10. Develop a busi­ness idea and out­source every­thing possible

Click here to con­tinue reading »

I’ve men­tioned the use of roy­al­ties to cre­ate resid­ual income streams before, but I found this arti­cle that men­tions a few more ways to bring in the dough.

This list really helps if you tend to be on the cre­ative side. There is no rea­son for you to be a starv­ing artist at all. So have fun and make money at the same time.

How to Cre­ate Sources of Resid­ual Income

In this tough econ­omy it seems almost every­one is look­ing for ways to sup­ple­ment their income. With more and more peo­ple los­ing their jobs and the cost of liv­ing increas­ing, many folks are turn­ing to the inter­net to seek sources of resid­ual income. For those of you who aren’t famil­iar with resid­ual income — this is a source of pas­sive income that comes keeps rolling in long after you have put in the ini­tial effort. Pre­vi­ously, only actors and authors earned “resid­u­als” for their work, but the inter­net has changed all of that and there are now many ways to make money online and cre­ate resid­ual income.

Instruc­tions

1. Sell Your Pho­tographs Online: If you have some basic pho­tog­ra­phy skills and have a good eye for cre­ative and unique shots, then you should con­sider sell­ing your images on some of the var­i­ous micro­s­tock pho­tog­ra­phy web­sites. You can sell the same images over and over again and cre­ate a con­sis­tent flow of resid­ual income. The more images you have in your port­fo­lio, the more money you can make.
2. Sell Your Writ­ing Online: If you are a free­lance writer or even if you just dab­ble in cre­ative writ­ing, you can sign up for a mul­ti­tude of con­tent web­sites that allow you to sell your arti­cles online. Many of these con­tent web­sites allow you to sell your arti­cles for usage, which means they can sell over and over again to inter­ested par­ties. In some cases, once you have sold a good amount of arti­cles on these con­tent web­sites — you will begin to get pri­vate requests for your writ­ing and this will allow you to charge higher rates.

Click here to read more »