Passive Income After Retirement - Possible or a Pipe Dream?
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Ingvar Grimsmo
Mar 14, 2013, 7:00:36 PM3/14/13
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Ingvar Grimsmo
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Article Title: Passive Income After Retirement - Possible or a Pipe Dream?
Author: Ingvar Grimsmo
Word Count: 529
Article URL: http://www.isnare.com/?aid=653724&ca=Internet
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=653724
Easy Publish Tool: http://www.isnare.com/html.php?aid=653724
*********************** ARTICLE START ***********************
That's the retirement dream, isn't it? Passive income. Government and company pensions are passive income, you don't have to work for your money any more. That's why most people go to work every day, save whatever they can so they can "retire" with a steady income. And it is of course a good thing. Unless the pension income is not enough, or the company has folded or for any number of reasons you want or need more money.
The choice then becomes - should you go back to work? Start a business and work it? Or is there a way to create something that will give you a passive income in retirement. I am here to tell you it is indeed possible - I am living proof. Half of my income comes from passive sources. Meaning I have to do very little to receive this income. Of course, I had to set things up, but I have income sources that I haven't touched in years. Easy? It can be, but there's initial work to be done. However, with a strong initial effort - the payoff can be long-term and reasonable hands-off.
The ideal situation is to have 100% income passive. That's a tough nut to crack - to me a 80% passive is good enough. A little maintenance and tweaking is always needed. But hey, can you spare 10 hours a month to tweak some websites? If not - you can always outsource these tasks.
What about the long-term security of these projects? It's true, some of these sources will come and go. The trick is to diversify, have multiple sources of passive income. With as little maintenance as possible. And the tweaking there is - you can always outsource.
There are three basic ways a retired person can create passive income sources on the Internet:
1. Set up websites/blogs with advertising revenues such as Google's AdSense
Here you set up content websites - perhaps with a blog that you update with new posts once in a while. Not quite 100% passive, but with a modest amount of effort you can generate a steady stream of income.
2. Websites that sell other people's products (Affiliate Marketing)
You sign up with one or many affiliate product providers such as Clickbank and sell their products for commission. You learn how to set up a website and more importantly to drive traffic to it. Once the site is operational it takes very little maintenance to keep it productive.
3. Create products yourself and sell them through websites and/or affiliates.
This is ideal for retirees who have special skills learned through their employment. You write expert guides and sell them directly through a website and other affiliates. I know a successful attorney who wrote a book on Medicaid 18 years ago, left his practice and lives quite well selling this book.
The bottom line is that you can earn a fair amount of money for little work once things are set up. Say you make $1,000 per month for 10 hours work. That's $100 per hour. Good enough for me.
About The Author: Ingvar helps retired individuals become retirement entrepreneurs. http://www.retiremententrepreneurs.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=653724
*********************** ARTICLE END ***********************
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Message delivered directly to members of the group:
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*****************************************************************
Please consider this free-reprint article written by:
Ingvar Grimsmo
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=653724
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=653724
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Passive Income After Retirement - Possible or a Pipe Dream?
Author: Ingvar Grimsmo
Word Count: 529
Article URL: http://www.isnare.com/?aid=653724&ca=Internet
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=653724
Easy Publish Tool: http://www.isnare.com/html.php?aid=653724
*********************** ARTICLE START ***********************
That's the retirement dream, isn't it? Passive income. Government and company pensions are passive income, you don't have to work for your money any more. That's why most people go to work every day, save whatever they can so they can "retire" with a steady income. And it is of course a good thing. Unless the pension income is not enough, or the company has folded or for any number of reasons you want or need more money.
The choice then becomes - should you go back to work? Start a business and work it? Or is there a way to create something that will give you a passive income in retirement. I am here to tell you it is indeed possible - I am living proof. Half of my income comes from passive sources. Meaning I have to do very little to receive this income. Of course, I had to set things up, but I have income sources that I haven't touched in years. Easy? It can be, but there's initial work to be done. However, with a strong initial effort - the payoff can be long-term and reasonable hands-off.
The ideal situation is to have 100% income passive. That's a tough nut to crack - to me a 80% passive is good enough. A little maintenance and tweaking is always needed. But hey, can you spare 10 hours a month to tweak some websites? If not - you can always outsource these tasks.
What about the long-term security of these projects? It's true, some of these sources will come and go. The trick is to diversify, have multiple sources of passive income. With as little maintenance as possible. And the tweaking there is - you can always outsource.
There are three basic ways a retired person can create passive income sources on the Internet:
1. Set up websites/blogs with advertising revenues such as Google's AdSense
Here you set up content websites - perhaps with a blog that you update with new posts once in a while. Not quite 100% passive, but with a modest amount of effort you can generate a steady stream of income.
2. Websites that sell other people's products (Affiliate Marketing)
You sign up with one or many affiliate product providers such as Clickbank and sell their products for commission. You learn how to set up a website and more importantly to drive traffic to it. Once the site is operational it takes very little maintenance to keep it productive.
3. Create products yourself and sell them through websites and/or affiliates.
This is ideal for retirees who have special skills learned through their employment. You write expert guides and sell them directly through a website and other affiliates. I know a successful attorney who wrote a book on Medicaid 18 years ago, left his practice and lives quite well selling this book.
The bottom line is that you can earn a fair amount of money for little work once things are set up. Say you make $1,000 per month for 10 hours work. That's $100 per hour. Good enough for me.
About The Author: Ingvar helps retired individuals become retirement entrepreneurs. http://www.retiremententrepreneurs.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=653724
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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