Automated income is a dream of mine and if you understood it like I do, it would probably be a dream of yours too!
What is automated income? How do you build automated income? These are often the 2 first and only questions that arise whenever the subject is brought up. These are the two main questions I will cover in this article.
First, what is automated income? It's a consistent sustainable income stream that requires very little of your time and energy to sustain. Of course, at first, you'll have to put a lot of hours in to make this dream come true. There's a clever expression in the automated online income world that goes like this: "Work like a year like no one else wants to so you could live the rest of your life like no one can" -author unknown. It might take some people a little longer than a year to make this dream come true but however long it takes you, it's definitely worth it.
Second, I want to prove to you that is possible by the use of a few case studies. The first case study is Tim Ferriss who wrote the 4 hour work week. If you have not yet read this book, you need to get yourself a copy IMMEDIATELY. This single book has changed my life and point of view forever. He successfully created an automated income for himself which allowed him to travel the world and live life to the fullest. He wasn't stuck in a dead-end job he hated any longer. He was truly free. And isn't that what we all aspire to be? Another example, is Steve Scott from stevescottsite.com. He used the internet to create an automated income stream for himself. It took him 3 years to reach his goal but in the end he was able to travel Europe for a year while still making money. These are just 2 examples of people who have successfully made it happen and these are 2 people you could look up on google for some inspiration on how you can make it come true for yourself too.
Third, the next logical question is: How do I do it??? How do I create an automated income for myself? I'm glad you asked. There are many roads that all lead to an automated income. My first recommendation for you is that you start reading up on automated income. Grab anything you can find about the subject and read it. Spend an hour a day doing this and start implementing everything you learn. One road to an automated income is the internet. Steve Scott has created a great free ebook on this topic called Income Trilogy(you can find it on his site). Another great route to take is the recommended path shared in Tim Ferriss' book: The 4 hour work week. There are other roads too that lead to an automated income including entrepreneurship and investing in real estate.
Automated income is also known as passive income. So make sure to start reading up on passive income too while you're at it. It will be well worth the investment in time and energy. In the end though, all the reading in the world is not going to create an automated income for you. You're going to have to put in some work... a lot of work actually. Remember the quote above? You have to be willing to work for a year like no one else wants to if you want to live a life that noone else can.
I hope this article inspired you to start looking into ways to automate your own income. Good luck!