There are 4 Micro Categories of Passive Income Stacking…
Micro Category 1. Your Goals: Why do you need the money you’re hoping to get with Passive Income Stacking™? Is it to get out of debt, buy a new car, save for a child’s education, save for retirement, etc.?
You may have more than one goal. There’s no set number here, it’s just what your situation requires.
First simply establish your reason/s for needing this extra money.
Micro Category 2. Time Frame to Reach Your Goals: How soon would you like to accomplish the goal/s you’ve established above? If you’ve got a lot of debt your answer is probably “YESTERDAY”, right?
Sadly there’s no magic wand you can use, that’s not how life works. So you must be realistic in the timeframe you choose.
However, the more passive income sources you successfully Stack that are in the top of your 80/20 results, the shorter your timeframe may have to be.
Micro Category 3. Time Available to Work on Passive Income Stacking™:
How much time do you have to devote to your financial stair case and Passive Income Stacking™ efforts?
Obviously the more time you have that you’re using wisely, the better chance you have to accumulate extra income sources to Stack.
Once you’ve establish how much time you have available to dedicate to Passive Income Stacking™, you’ll be able to better evaluate income sources you may want to consider pursuing.
For example, those that will take a lot of time vs. those that are quicker to set up and manage. If one income source will take a lot of time to establish on your part, and after further study doesn’t seem to have the chance to be very profitable considering the time you’ll have to dedicate, you can stop your efforts right there. If another income source seems to be simple to establish with the same income potential as that above, you may want to investigate further.
Maybe another income source you’re considering is quick to establish and appears to have a lot of profit potential. Bingo, you may have found a winner to consider adding to your stack!
Everything worthwhile takes effort and this is no different. But remember, you’re worth it and I know YOU can do anything you set your mind to!
Micro Category 4. Potential Income for Each Source: Not all passive income sources are created equally as indicated in the 80/20 Principle discussed in the Passive Income Stacking™ Handbook.
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“Passive Income Stacking Handbook: How To Reach Financial Freedom
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