The Residualist

I’ve just spent a bit more time reading some of the older articles on the GeniusTypes.com site. The more I read, the more impressed I am. Here are a couple of great posts that I really enjoyed, and I think would be beneficial to anyone reading this blog…

1. Passive Income
2. See Money Differently to Attract More
3. Five Ways to Create Passive Income with Little or No Money

The first post obviously focuses on exactly the subjet of this blog: passive income. Generally speaking I’m operating under the assumption that people that read this blog are already convinced that passive income is the way to go, but if you’re not, then this post may just change your mind. The post mentions the Rich Dad, Poor Dad series by Robert Kiyosaki. If you’re still not convinced, then reading at least the first book in the series will probably do the trick. The problem is that this book is more of a eye-opener or a self-help type of book that is a cheerleader for freeing yourself from working for a living and starting down the path to passive income generation. There is some useful and concrete information presented in the book(s), and I think they have definitely helped change the way I think about income and wealth in a very positive way, but the problem is that the entire series is really light on details and pragmatic advice. Unfortunately this is where all the hard work comes in. Once you have changed your thinking, you have to apply yourself and your newfound insight and start changing your habits and your approach to making money. In any event, this post does an excellent job of highlighting a bunch of the same concepts from the RDPD books such as leverage, exponential growth, eliminating passive expenses, and other fundamental concepts.

The second post helps fill in the missing pieces by outlining practical first steps you can take immediately to get your financial house in order.

The last post takes you to the next level with (as the title suggests), 5 specific suggestions of things you can do to start earning passive income with little or no money. To whet your appetite, the five suggestions are:

1. Buy an investment property with no money down.
2. Start a bulk candy vending business (a subset of what is mentioned in the post I’ve already linked to).
3. Network marketing (for another example, see my post about AGLOCO).
4. Create interesting internet content.
5. Set up an automated eBay business.

To learn more you’ll have to read the actual post, which dives into detail on each of this suggestions.