Passive income on passive income to financial freedom

Today, the internet is arguably the most powerful and important platform to build your career.

But not just your career.

The internet has managed to achieve financial freedom for millions of people out there. Join them. The best part is, most ways to achieve financial freedom with the internet is to generate income streams that are passive!

Here is a comprehensive 3-step plan to achieve financial freedom that I have used to put myself on the path to financial freedom using the internet in general – and websites in particular – as a vehicle to build financial freedom:

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Step 1: Learn and set your goal

The internet is one giant mall of websites, some with prime location and a lot of traffic, some with less. Attention is very much the game on the internet, and if you are able to provide value to enough people, surely attention follows, and so will the $$$.

For you to grab some of that attention online, you need to learn a few things, even if you choose to outsource or partner up with someone, you will increase the odds of success if you understand the basics:

• You need to know about web development to create a website that stands out.
• You need to know about digital marketing to generate traffic to your website.
• You need to know about finance to manage your income, cost, and the king of all: profit

When you have sucked up all the knowledge like a sponge, you are ready to start your journey to financial freedom. So what to do?

Do you consider yourself financially free when you make $1000 per month? $2000? $5000?

Whatever your number is, you need to know it before you set out on achieving financial freedom.

Without a goal there is no destination for your journey. And without a destination, you won’t know where you are on your journey when the going gets tough.

Have a clear goal in mind, a number, before you move on to step 2.

Step 2: Patience, hard work, patience, hard work…

Life is short.

• You wouldn’t go to a party on Friday night with people you don’t know or don’t care about.
• You wouldn’t spend Wednesday evening playing a sport you didn’t care about.
• You shouldn’t embark on the journey to financial freedom if the assets required to get means nothing to you.

When you decide to do something, you might as well do something that you care about. The end goal might be important to you, but what you care about is the steps you have to take in order to get to that end destination.

There will be times where you don’t like it, but there shouldn’t be times where you don’t care about it.

Nobody is forcing you.

In order words, you need to create assets that you are passionate about.

If you don’t find your website exciting, odds are that nobody will. If you don’t get any value from your website, odds are that nobody will.

Rome wasn’t built in one day, and your portfolio of websites and web properties that brings you passive income won’t either.

Time and time again, people that have achieved massive financial success online started small and grew slowly but surely for a very long time, until one day, things started to unfold and grow exponentially. To get there, you have to be patient and work hard.

Chipping away and learning, chipping away and learning.

The longer you can withstand the temptation of cashing out, the faster you will achieve financial freedom.

Hard work! How is hard work and patience building me passive income and giving me financial freedom? 

Let there be no confusion. There is no such thing as passive income if you are not willing to put in the work.

Thankfully, if you are willing to be patient and put in the work, the rewards over time will compound to staggering amounts, which is apparent in step 3:

Step 3: Deposit your profits into accounts that yields more passive income

When you see your first income from your blood sweat and tears, it will be incredibly tempting to go out and celebrate!

Before you do, think about what got you to this point.

Do you really want to give all that hard work away for a new pair of sneakers? The new iPhone? Or a weekend getaway?

We are talking about your freedom here! Don’t give up on that so easily. Instead, protect it at all costs

Once you have resisted the temptation of spending that sweet income of yours, do the smart thing and deposit it where you start generating yield.

And thankfully, your options are getting better and better every day.

As you know by now, the internet is an incredible place. One way we start to see this is the incredible disruption happening in finance. More and more financial services allow you to generate high yield on your deposits – especially companies that are cryptocurrency and blockchain friendly – allowing every day people to deposit $1 (or $1,000) to an account and generate 5% up to 15% on it!

One such company is Celsius Network, which allows anyone to deposit any amount and generate fantastic yield on their deposits:

Let me give you an example that sheds some light on how powerful this compounding effect is:

• Month 0: You made nothing, but you are still motivated to keep at it!
• Month 1: You made peanuts and not a meaningful amount for you to deposit to Celsius
• Month 2: Score! After many hours of hard work, you have made $100 from your website, all of which you deposit on Celsius
• Month 3: You grew your website income to $110, again depositing to Celsius, so you have $210. However, with the weekly interest, you have $210.83. Doesn’t seem like much, but sit tight, you are on the path to financial freedom
• ….
• Month 6: You kept growing your website income 10% and are now making $146.4 per month. This means you now have $610.5 in total website income that you are generating $5.09 in interest on per month. Your total income over the past six months is $624.8
• Month 12: You are now making $260 in website income per month, $15.44 per month from Celsius, and have generated total income of almost $2000!
• Month 18: $460 in website income per month, $34 per month from Celsius, and $4284 in total income!
• Month 24: $814 in website income per month, $66 per month from Celsius, and almost $8500 in total income! Keep it up and you can soon buy a car…
• Month 36: More than $2550 in website income per month, $225 per month from Celsius, and almost $3000 in total income! Keep it up and you can soon buy a house…

You get the idea. Follow the numbers in the table below:

Compound interest is truly the eighth wonder of the world – those who understand it, earns it… those who don’t, pays it – as Albert Einstein put it…

Example: Financial freedom = $3,000 per month

Let’s look at an example where you consider yourself financially free when you generate $3000 per month in passive income, assuming the following:

• You can set aside 2 hours per day
• You can wait up to 3 years to monetize
• You can generate $50 in the first month and grow 15% month-to-month

If the above holds true for you, then this is your path to financial freedom:

Notice from above that you will not have to wait 36 full months, you will be financially free by month 30!

Example: Financial freedom = $10,000 per month

Let’s take another example where your financial needs are higher to consider yourself financially free generating $3000 per month in passive income, with the following assumptions:

• You can set aside 2 hours per day
• You can wait up to 5 years to monetize
• You can generate $50 in the first month and grow 10% month-to-month

If the above holds true for you, then this is your path to financial freedom:

Roundup

The above steps are not my attempt to wing it and get a few likes on social media when I publish this article. This is my attempt to share what I have learned – and more importantly – what I have done to achieve my own financial freedom

Over the years, I have built and acquired a portfolio of income -generating assets that mainly consists of web properties. I deposit all the profits from these assets into accounts that generates a yield. It has become almost a game for me to achieve financial freedom. Every month, it’s always a pleasure to see the income flowing in from these assets and deposit this income into other income generating assets, or simply into interest yielding accounts like Celsius Network, Nexo or other lucrative financial options out there.