Passive Income Ideas and Big Mistakes - 3 Things You Must Know

LOS ANGELES - Aug. 12, 2016 - PRLog -- Passive income is described as:

"...income received on a regular basis, with little effort required to maintain it."

If you are trying to incorporate passive income into your lifestyle there are several options. But each one has challenges associated with it. For example:

1) Investing in Stocks - you can invest in the stock market. Many are trying their hand at day trading where hundreds of shares are exchanged daily.

The Goal - trade enough shares to make a few hundred dollars each day.

The Challenge  - most stocks, even EFT, Binary, and Penny stocks, require large volume purchases to make enough profit day trading.

The Reality - stock trading costs, and market volatility, makes truly getting ahead tough. When the numbers are examined objectively the profits rarely outweigh the daily trading costs and losses. Add to this the fact that a market correction can be devastating.

2) Investing in Real Estate - many business gurus advocate buying rental properties as investments.

The Goal - own enough rental properties to receive a healthy passive cash flow each month.

The Challenge  - tenants fail to pay rent, destroy properties, and very often skip. This can leave you with a new mortgage to cover each month.

The Reality - Before affording to hire a property manager you will field the broken toilet, and clogged sink, phone calls. Often they come in the middle of the night! Tenant destruction repair costs alone have driven many eager real estate investors away from this income pursuit.

3) Book Publishing - creating digital publications that you are automatically paid on is an exciting option for passive income.

The Goal - have enough digital publications that the monthly income can eliminate debt and contribute to personal wealth.

The Challenge - digital book publishing platforms (yes, even the big one named after a river) are constantly changing compensation policies. In most cases their objective is to pay the author/publisher less.

The Reality - both the offline and online publishing arenas can be formidable. The physical book business is waning and the digital publishing route is loaded with tremendous competition.

Is Passive Income Possible?

Some writers have become so jaded they are even claiming that passive income is a myth (or a lie). Having earned passive income for decades I can tell you that it is not a myth.

I believe that 'multiple streams of income' is the real solution that these weary critics have missed.

In life, most things ebb and flow just like the ocean. That is why it makes sense to have several, low risk, income streams set in motion.

This does 3 important things:

1) It eliminates the stress and anxiety of fretting about one income source (like a job).

2) It allows you to 'ride' the ebb and flow. One stream may ebb while two others will flow.

3) It gives you a way to reasonable predict what your profit will be from one month to the next.

You will notice that I said "...low risk income streams..." earlier.

Long before investing thousands of dollars in the stock market, or real estate, you may want to examine some simple non-technical approaches.

The video at the link below reveals one such income source that you can use right now... for FREE!

http://www.homebusinessprofiles.com/hbp-training