So You Want to Make Money: Why Being a Little Lazy is Good

Alright, so maybe being lazy isn’t good.

I was just trying to catch your attention. Actually, what I meant to say was:
Why Passive Income is Good. Admit it, this title doesn’t sound as intriguing the headline above, right? Anyway, let’s get to the meat of it.

I’d  love to quit my day job but since that’s really not possible at the moment(because my wife would kill me), the next best thing for me is to make some money on the side without interfering with the corporate career I’ve spent the better part of a decade nurturing.

Sometimes, Working Hard Just Doesn’t Pay

When you’re a pimply college student with just enough money to buy lunch and a ride home everyday, you will take any opportunity to make some money. Since I was already on the Internet, I decided I should try to find some way to make money online.

Back in 1999, the only thing I could find were pay per click programs and these  were one of the cheapest paying gigs you can get online. I think it used to be like 6 cents per click and you had to go to an advertiser’s webpage and stick around for a while before you get any credit for a click. It was REALLY, REALLY tedious work and the pay was really bad. I think the most I got after a month of this was four dollars. FOUR LOUSY DOLLARS!!! I dropped out of the program immediately and decided to just finish college and get a job. It was too much time for too little pay.

Fast forward ten years later. I’m a middle class professional with big dreams. I’m bored to my eyeballs with work and I think it’s time to find some way to make some extra money so my family can afford the tiny house we dream of owning, the occasional vacation, and hopefully a little luxury.

I started my search by visiting websites like Entrepreneur.com and Inc.com for a little inspiration and I was overwhelmed.  So many choices, so little time! I opened a lot of books, from Donald Trump’s Art of the Deal,  to Robert Kiyosaki’s megahit Rich Dad, Poor Dad and all the way to Tim Ferris’ The Four Hour Work Week.  And with all those books, the thing that stuck to my head most was this: Passive Income is King.

What is Passive Income?

Passive income is money that comes in with you having invested as little time as possible. Sounds great, huh? Rich people tend to have lots of passive income. If you’ve ever gone to a fancy hotel lobby, you can see these people hanging around at the lounge, making some phone calls, having coffee, meeting with associates. These are the people that seem to do as little as possible but seem to be making way more money than everyone else. Why is this so? What’s their secret? Rich people seem to do very little because passive income is incredibly efficient. If you have an income stream making $500 dollars a week that you only have to work on for two hours a week, this means you are getting paid $250/hour! If you invested as much time as a full time 40 hour work week, that comes to about $10,000 a week!  Okay, let that sink in for a minute…maybe take some time to grab a drink of water. This stuff is pretty intense, huh? Trust me, it was an AHA moment for me, too (okay, okay, maybe I was just really ignorant).

Anyway, you can imagine what you can do with that kind of money making efficiency. Make $2,000 a week for a day’s work and you have four other days of the work week to enjoy (or put into good use developing another way to make passive income).  It’s $8,000 a month for four days work leaving you a whole lot of time to invest in the pursuit of happiness.

Think about it for a while.

Being a little lazy DOES sound good, doesn’t it?

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