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      • Passive Income Masterclass: Build Financial Security

      Passive Income Masterclass: Build Financial Security

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      £99.00
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      • Overview
      • Curriculum

      Personal income is the greatest wealth generating tool – something that requires an individual’s active participation. Thus, even if an individual has a full-time job, he or she would welcome additional income without necessarily having to sweat for it.

      Developing a way to generate passive income provides many benefits. With the additional income, an individual is able to expand the wealth-building base so that it is easy to take early retirement.

      Additionally, passive income is a backup plan in case the person loses their day job and offers an alternative in case a retiree outlives a retirement plan.

      How Much Income Can Be Made?

      Passive income doesn’t guarantee immense wealth overnight. Therefore, an individual shouldn’t expect to get rich so soon. However, steady and gainful passive income opportunities can cause a person to amass income over a long period. It means a few thousand dollars to hundreds more based on the income stream at hand.

      Different Ways to Build Passive Income. There are many different ways to build passive income. Here are a few:

      1. Investing

      Whenever someone mentions passive income, there are people who think of investing since it has the potential to produce good results quickly and with little effort. However, passive income and retirement plans shouldn’t be considered as being the same.

      The purpose of making an investment is to ensure there is an income stream during retirement. It’s ideal to invest in a retirement scheme if the current fund choice agrees. That way, a person can build a sound plan for retirement, although there are penalties or taxes in case a withdrawal is made before the maturity date.

      1. Real estate

      A smart way to generate passive income once all debts are cleared and there is extra cash is to consider a real estate property for renting out. Before buying property, clear the mortgage, and then buy the property with cash. There’s no point in seeking debt to finance the purchase of a property. Things become complicated when there is a mortgage to clear and yet a loan was used to buy a property.

      It also makes sense to buy property nearby in order to ensure that the owner can look after it properly. It means consulting a property agent who understands the owner’s area to ensure the new property can attract tenants.

      A rental property is a good source of additional income, although it’s one of the most passive sources of income because it will require time and some effort to keep it in good condition. So, a person who opts for real estate must be in control of the property at all times.

      Other Passive Income Ideas

      1. Digital ad space

      Selling digital ad space is a brilliant way to make passive income for those with great ideas and a significant audience base. A YouTube channel or a blog can generate a lot of online traffic, which can be monetized eventually.

      If the content is captivating, and it receives a lot of traffic each day, selling ad space on the blog sounds like a good money making idea. Once an individual sets things into “heavy lifting” mode, he or she can relax and watch income grow.

      1. Digital products

      If there is a creative way to generate content, it can be used to generate traffic to any ad. All that is needed is a product that the audience would be tempted to purchase. It usually means an e-book or an application that offers the potential to generate income for a long time.

      1. Store to keep people’s things

      Most people keep many things in their homes, and they are always on the lookout for cheap ways to house them. There’s nothing easier than being paid to keep other people’s things. However, generating passive income from storing things for people requires a huge initial investment to acquire a storage structure.

      The alternative is something simple like letting a shed or storage basement. The important thing is ensuring that the things to be stored will be safe every day.

      1. Renting out handy items

      There are people with items that are no longer in use that others can borrow and use. They include a truck, small boat, or even the yard. Such things can be rented out for a small fee, which makes for a very nice way to generate passive income.

      Spare rooms at home can be rented out with the assistance of platforms like Airbnb. Doing so is actually simple. All that is required is a photo of the wand that is on offer, a price tag, and a catchy statement to encourage people to use the service.

      What will students learn in this course?

      • What are recurring income streams?
      • What is Residual Income?
      • Types of Recurring Income
      • Types of Residual Income
      • Relationship Between Recurring, Residual. and Passive Income
      • Building Wealth Strategies

      Why choose Edplx?

      • Internationally recognised accredited qualification
      • Access to our free career advisors
      • Approved UK Learning Centre
      • 1 year accessibility to the course
      • Attain PDF or hardcopy certificate to show employers
      • Study at your own pace anywhere
      • Employer has access to certificate validation
      • Tutor Support available Monday-Friday
      • Invitation to job fairs

      Course Curriculum

      This Course will cover some of the following topics:-

      Introduction

      • Introduction
      • Downloadable Resource

      What Are Recurring Income Streams

      • Introduction
      • What Is the Recurring Revenue Model?
      • What Should You Sell to Make the Recurring Revenue Model Work?
      • The Importance of Recurring Revenue in a Thriving Business
      • Reasons Fortune 500 Companies Are Moving to Recurring Revenue Models
      • How Recurring Revenue Increases Business Value

      What is Residual Income

      • Introduction
      • What Is Residual Income and Why Do You Want It
      • What is Residual Income & Why is it Important for Building Wealth
      • Reasons Why Passive Income Is Important
      • How Does Residual Revenue Work?
      • Why Residual Income is Important for Financial Independence

      Types of Recurring Income

      • Introduction
      • Hard Contracts
      • Auto Renewal Subscriptions
      • Build a Membership Program for Your Business
      • Become an Affiliate for Other Companies Products
      • Combine Online Membership and Physical Product Delivery

      Types of Residual Income

      • Introduction
      • Consider Investing
      • Write a Book or E-Book
      • Build an Online Course
      • Create an App
      • Launch a Podcast

      Relationship Between Recurring, Residual. and Passive Income

      • Introduction
      • How They’re Similar and also Different
      • What is Passive Income and Its Relationship to Passive and Residual Income
      • Examples of Passive Income
      • The Truth About Active Income vs Passive Income
      • Active Income Becomes Passive Income

      Building Wealth Strategies

      • Introduction
      • Effective Wealth Building Strategies Used by Personal Finance Pros
      • Develop A Wealthy Mindset
      • Strategies for Building Wealth
      • Strategies to Build Wealth Fast
      • How to Begin to Build Wealth

      Conclusion

      • Conclusion

      Course Features

      • Lectures 39
      • Quizzes 0
      • Duration 2h 37m
      • Skill level All levels
      • Language English
      • Students 374
      • Certificate No
      • Assessments Yes
      CoursesBusiness, Management & LawFinancePassive Income Masterclass: Build Financial Security
      • Introduction 2

        • Lecture1.1
          Introduction 04 min
        • Lecture1.2
          Downloadable Resource
      • What Are Recurring Income Streams 6

        • Lecture2.1
          Introduction 05 min
        • Lecture2.2
          What Is the Recurring Revenue Model? 04 min
        • Lecture2.3
          What Should You Sell to Make the Recurring Revenue Model Work? 05 min
        • Lecture2.4
          The Importance of Recurring Revenue in a Thriving Business 03 min
        • Lecture2.5
          Reasons Fortune 500 Companies Are Moving to Recurring Revenue Models 03 min
        • Lecture2.6
          How Recurring Revenue Increases Business Value 06 min
      • What is Residual Income 6

        • Lecture3.1
          Introduction 05 min
        • Lecture3.2
          What Is Residual Income and Why Do You Want It 04 min
        • Lecture3.3
          What is Residual Income & Why is it Important for Building Wealth 04 min
        • Lecture3.4
          Reasons Why Passive Income Is Important 05 min
        • Lecture3.5
          How Does Residual Revenue Work? 04 min
        • Lecture3.6
          Why Residual Income is Important for Financial Independence 05 min
      • Types of Recurring Income 6

        • Lecture4.1
          Introduction 04 min
        • Lecture4.2
          Hard Contracts 05 min
        • Lecture4.3
          Auto Renewal Subscriptions 04 min
        • Lecture4.4
          Build a Membership Program for Your Business 04 min
        • Lecture4.5
          Become an Affiliate for Other Companies Products 04 min
        • Lecture4.6
          Combine Online Membership and Physical Product Delivery 04 min
      • Types of Residual Income 6

        • Lecture5.1
          Introduction 05 min
        • Lecture5.2
          Consider Investing 04 min
        • Lecture5.3
          Write a Book or E Book 04 min
        • Lecture5.4
          Build an Online Course 05 min
        • Lecture5.5
          Create an App 04 min
        • Lecture5.6
          Launch a Podcast 03 min
      • Relationship Between Recurring, Residual. and Passive Income 6

        • Lecture6.1
          Introduction 04 min
        • Lecture6.2
          How They’re Similar and also Different 04 min
        • Lecture6.3
          What is Passive Income and Its Relationship to Passive and Residual Income 04 min
        • Lecture6.4
          Examples of Passive Income 04 min
        • Lecture6.5
          The Truth About Active Income vs Passive Income 03 min
        • Lecture6.6
          Active Income Becomes Passive Income 03 min
      • Building Wealth Strategies 6

        • Lecture7.1
          Introduction 04 min
        • Lecture7.2
          Effective Wealth Building Strategies Used by Personal Finance Pros 04 min
        • Lecture7.3
          Develop A Wealthy Mindset 03 min
        • Lecture7.4
          Strategies for Building Wealth 05 min
        • Lecture7.5
          Strategies to Build Wealth Fast 04 min
        • Lecture7.6
          How to Begin to Build Wealth 04 min
      • Conclusion 1

        • Lecture8.1
          Conclusion 04 min
      • Overview
      • Curriculum
      £99.00
      Buy Membership
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