Warren Buffett, billionaire investor and co-founder of Berkshire Hathaway, once said,
“If you don’t find a way to make money while you sleep, you will work until you die.”
The funny thing is, he makes billions of dollars while he sleeps and will still probably work until he dies. He loves his work that much.
The lesson from his quote is to build income streams that make money regardless of whether you work that day. If you get sick, take a vacation, get injured, etc., your income should still be coming in.
Don’t settle for trading hours for income your whole life. It’s hard to become wealthy that way. You can use a combination of outsourcing and passive income streams to become more like Warren and make money while you sleep.
How to create passive income
Buffett is one of the richest people on the planet because he makes VERY GOOD decisions on what companies to invest in. And, of course, investments are a form of passive income.
If we can master passive income, we won’t have to work that much at all. For example, Warren Buffett has said he spends most of his day reading.
Here are a few types of passive income and some posts for more info:
- Investing – How to Start Investing Without Much Money
- Affiliate marketing – Best Amazon Affiliate Marketing Tricks for Beginners
- App referrals – How to Make $250 per Month from a Free App
- Adsense – How to Make Money From Google Adsense Ads Easily
- Online courses – 7 Best Websites for Earning Income from Online Courses
- Ebooks – How to Sell Books on Amazon Kindle for Free
- On-demand merch – 29 Best Print-On-Demand Product Websites for Your Business
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