Wealth secrets. I don't know about you but every time I see words like that in the title of something then I just have to have a look. You see, if there ARE any secrets I want to know about them. So I keep my eye out and my mind open. I read everything I can about making money. So, I have seen a fair few so-called “wealth secrets" in my time.
As far as I am concerned the best “secret" that I have seen is passive income. This is the income that just keeps flowing to you day in and day out without you having to do anything for it. I think it must be a wealth secret because I don't know too many people who are taking advantage of it.
Passive income can come in the form of franchise fees, commissions, investments, royalties, capital growth, shares, property and trusts. Basically, passive income is anything that will allow income to flow to you while you do something else. That “something else" can be working your normal job hours or even sleeping. You see, a passive income stream doesn't rely on what YOU are doing while IT is working.
I often call passive income wealth by stealth. That makes me laugh. I see this image of getting wealthy by being sneaky. But there is nothing sneaky about it.
Passive income is merely the clever person's way of accumulating money.
Who ever made the law that says you have to work hard for money? That is what poor people do. They trade an hour of their time for $10 or $20 or $30. How can you ever get rich doing that? Eventually you run out of hours in the day to trade. Active income is limited by the hours in a day. Passive income doesn't rely on any number of hours in any day.
If you want to take advantage of the BIGGEST wealth “secret" then, in my opinion, there is no better way to accumulate wealth than passive income.
Gary Simpson operates the Turn Debt Into Wealth website. To discover how to create a PASSIVE income visit: "How to Save $1000's and Increase Your Net Wealth." You can also discover how to prime your mind for wealth by visiting "How to Stop Wasting Your Life and Start Getting What You Want."