Passive Income – Bada Business

4 Streams Of Income That Will Grow Your Wealth

Summary: Want to create passive income? Here are four income stream ideas to try out.

Studying about millionaires and billionaires is quite interesting. Why? They are more often than not regular and ordinary people, who with their sheer dedication and remarkable discipline have achieved everything they ever wanted to.

Successful millionaires too have twenty-four hours a day, but they use it differently from the rest of the world. One thing which is common among them apart from being wealthy is that they have multiple streams of income.

According to an article on CNBC, 65% of millionaires have three sources of income, 45% of millionaires have four sources of income, and 29% of millionaires have five or more sources of income streams.

Passive income is a powerful tool. It can increase your wealth passively. So, here are the top four streams of income that will boost your bank accounts.

Before we begin to tell you about the different streams of income, we would also like to allow you to hone your leadership skills with the best motivational speaker– Dr. Vivek Bindra at the most powerful business training event ‘Leadership Funnel Program 2.0’.

1. Real Estate Syndications

Passive income streams are one of the basic wealth-building blocks. Every person on this planet only has 24 hours in a day. No matter how much you can actively work, you will always hit a limit on how much you can earn and how much you can save.

With passive income, you can turbocharge your wealth generation as you will continue to make money even as you sleep. Real estate syndications are one of the best passive sources of income. It is a group of investors that purchase a particular commercial or multi-family property. These investments feature yearly returns of around 8% and typically run for about five years. Apart from these above-average returns, when syndications sell the purchased building, investors are provided with a 30%-50% lump-sum return at the end of those five years.

2. Investment Income

Investment income is another common type of passive income stream that will grow your wealth. This category is more generic as it includes dividends from equities and bonds. These investments will not pay life-changing money, but as you grow your wealth, the stock market is a fantastic place to park your money safely while it grows and earns quarterly or monthly income. The key to wealth building is diversification and making smart investments can help you achieve that goal.

Another way is to attend India’s most powerful business event ‘Leadership Funnel Program 2.0’ with Dr. Vivek Bindra who is a business coach to many corporations in and outside India.

3. Business Income

Many people do a side-hustle to earn extra income. This may look ordinary, but in the long run, it can help you to grow your wealth exponentially. Whether making or selling something or providing services, owning a business opens up a world of limitless income possibilities. Suppose you’re a copywriter and you are quite good at your work. You can find clients and work as a freelancer and earn something extra. You can reinvest it in your business or you can leverage your side gig to save more money tax-free.

4. Renting Out Your Car

From BlaBla to QuickRide Carpool & Taxi peer-to-peer rentals have become remarkably popular. Many companies were hit during the pandemic and sold many of their cars. You can turn this into a side business of sorts. It’s not just property you can invest in and rent — if market trends continue, renting out cars is fast becoming a viable income stream!

If you want to grow your wealth, you need multiple streams of revenue. Relying too heavily on one stream typically is risky. What happens if you lose it? Similarly, if that singular income stream requires work, you limit how much you can make because there are limited hours in a day that you can work.

All of the four streams of income above are fantastic ways to grow your net worth. If you haven’t already, consider diversifying your portfolio by implementing the income streams suggested above! It will help you to increase your wealth passively.

The idea of managing a business is easier said than done and we completely agree with you. This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.

You can be a part of India`s most powerful business training event ‘Leadership Funnel Program 2.0’ by Dr. Vivek Bindra.

To know more, you can visit: https://www.badabusiness.com/lfp?ref_code=SM&pp_code=BHBB000078

4 Ways Passive Income Can Take Your Financial Worries Away!

Summary: Do you want the freedom to work on what you truly desire, rather than having to go into a job that pays you well but leaves very little time for you to enjoy things you truly love? Passive income could be the answer.

“Don`t let making a living prevent you from making a life”—John Wooden.

John Wooden, the guy who said it, interestingly lived for almost 100 years. Now, whether you want to live for 100 years or not, you want to make enough money to lead a comfortable life.

Now, if that sounds like you, would you like to know how you can do it? Would you want to know how you can lead a comfortable life even when you can`t work anymore?

What if we told you there was a way to make money without having to work for it? Passive income is the most effective way of making money with minimum effort. With passive income, you can change your financial future. And yes, we are not kidding!

What is passive income and why is it so essential?

Passive income is a source of income that is generated without requiring any additional effort on your part. You can make money from investment, property, or business that can generate earnings. It is not something that you earn from a regular job. In simpler words, passive income is what you make when your money makes for you.

Watch how passive income can change your life here.

Here are 4 ways in which you can change your financial future:

1. Freedom of Time

Stability and security, passive income provide both to those who don`t want the worries and restrictions of a 9 to 6 desk job and still want to enjoy the freedom without having to think about paying their bills. Those who wish to spend more time with their family without having to think constantly about their monthly financial deadlines can generate income for their future with passive income.

2. Less Stress & Fear

Though money is not the most important thing in life, it can certainly make a lot of things easier. Hence, it`s no wonder that a lot of people these days feel stressed out because of their financial instability. Making money without having to constantly worry about deadlines and a bad boss can completely change your life and level of happiness.

Fear of the future can reduce the quality of life, making it difficult to enjoy the present. An extra source of income can eradicate the worry about how will you make your ends meet. All these benefits can make us feel better emotionally, mentally, and physically.

3. Flexibility to live & work from Anywhere

The freedom and independence that come from passive income are incredibly addictive. You can live, travel and work from anywhere. You don`t have to rush through the early mornings and sit for 9 hours despite finishing your work.

For those who want to travel the world with zero financial worries, passive income is an incredible opportunity. This is a chance to live the life of your dreams while being able to enjoy financial stability. Passive income also allows us to take care of the travel cravings by allowing us to explore incredible beautiful places sans the worry for our financial future.

4. New Growth Opportunities

Do you know what is heavenly? To be able to make money without having your superior standing over your shoulder and telling you what to do. The independence to do things at your own pace boosts productivity and gives you ample time to focus on things that are much more important.

When your income is automatically transferred to your bank account, you don`t have to constantly worry about meeting your needs.

Instead of having to run off to your workplace and your toxic manager, creating a passive income can help you lead a good life. You can focus better and train your mind to achieve more. These were the 4 ways in which passive income can stabilize your financial condition.

Are you looking to find solutions for your burning problems? Get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions. To help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with Foundation courses, specialized courses, and value-added courses.