Focus on Creating Financial Assets

You’ll have no doubt heard the myth that you ‘need money to make money’, yet today, someone with hardly any money, credit rating, or access to resources can achieve financial freedom; particularly when looking at internet based opportunities.

Today, with the power of content marketing, anybody can build a substantial income from creating online courses, e-books, or blogs that are monetised via affiliate advertising – at very little start-up cost. The most important benefit to this, is that once an asset (e.g. an online course) is built you can then leverage the asset multiple times via automated systems without any further time investment.

See, the challenge when looking to make an extra income is that most people earn a living by trading the most precious resource of all, their time in return for money; whether you stack shelves in a supermarket or perform open heart surgery – in both instances, you would be swapping your time for money.

Unfortunately, when you stop trading those hours for money whether that is due to being downsized or being unable to work due to an illness or incident… the money stops too. If you’re reading this and you have suffered an injury it might be worth speaking to an injury lawyer to consider compensation – but even with a financial award, this can dwindle over time… unless it is used to build an asset.

See, the amount you’re able to trade your time for is contingent on the value you provide within that hour; an attorney will often charge more for an hour of their time than a janitor – because the service they provide has a higher perceived value.

The challenge, even if you are a highly paid attorney, is that if you want to earn an extra income there are only so many hours in the week that you can trade your time for money – and there’s a ceiling to which people are willing to pay… which is why you need to utilise the power of leveraging financial assets.

The simplest way to describe this is to consider an author that has written a bestselling book; they put a substantial amount of initial effort into the book’s creation yet are now paid on a royalty basis, let’s say $1 per book. If that book sells 1 million copies in the course of five years… the author will be paid time and time again for her initial effort.

Now, presuming you don’t want to write a book or record a Top 10 song, here are two simple ways you can start making the money you already have work for you – rather than you having to work for it.

INVEST IN THE STOCK MARKET
Investing in the stock market can be a daunting place for a beginner, however there are a number of online stock market trading courses you can take to get your head around the logistics, but in reality, it’s reasonably simple and there are some low risk strategies to protect your downside.

HIGH INTEREST BANK ACCOUNT
Admittedly, you need money to start with but if you were to have $100,000 in a high interest bank account, some of which will pay up to 20% interest in countries such as Turkey and India – that would be $20,000… which is a decent yield given the money invested is not at risk; unlike in the option above.