Passive Income: Build Financial Security

Course details

Personal income is the greatest wealth generating tool - something that requires an individual's active participation. Thus, even if an individual has a full-time job, he or she would welcome additional income without necessarily having to sweat for it.

Developing a way to generate passive income provides many benefits. With the additional income, an individual is able to expand the wealth-building base so that it is easy to take early retirement.

How Much Income Can Be Made?

Passive income doesn't guarantee immense wealth overnight. Therefore, an individual shouldn't expect to get rich so soon. However, steady and gainful passive income opportunities can cause a person to amass income over a long period. It means a few thousand dollars to hundreds more based on the income stream at hand.

Different Ways to Build Passive Income. There are many different ways to build passive income. Here are a few:

• Investing​​​​​​
• Real estate

Other Passive Income Ideas

• Digital ad space
• Digital products
• Store to keep people's things
• Renting out handy items

What will students learn in this course?

• What are recurring income streams?
• What is Residual Income?
• Types of Recurring Income
• Types of Residual Income
• Relationship Between Recurring, Residual. and Passive Income
• Building Wealth Strategies

Course Curriculum

This Course will cover some of the following topics:-

Introduction

• Introduction
• Downloadable Resource

What Are Recurring Income Streams

• Introduction
• What Is the Recurring Revenue Model?
• What Should You Sell to Make the Recurring Revenue Model Work?
• The Importance of Recurring Revenue in a Thriving Business
• Reasons Fortune 500 Companies Are Moving to Recurring Revenue Models
• How Recurring Revenue Increases Business Value

What is Residual Income

• Introduction
• What Is Residual Income and Why Do You Want It
• What is Residual Income & Why is it Important for Building Wealth
• Reasons Why Passive Income Is Important
• How Does Residual Revenue Work?
• Why Residual Income is Important for Financial Independence

Types of Recurring Income

• Introduction
• Hard Contracts
• Auto Renewal Subscriptions
• Build a Membership Program for Your Business
• Become an Affiliate for Other Companies Products
• Combine Online Membership and Physical Product Delivery

Types of Residual Income

• Introduction
• Consider Investing
• Write a Book or E Book
• Build an Online Course
• Create an App
• Launch a Podcast

Relationship Between Recurring, Residual. and Passive Income

• Introduction
• How They're Similar and also Different
• What is Passive Income and Its Relationship to Passive and Residual Income
• Examples of Passive Income
• The Truth About Active Income vs Passive Income
• Active Income Becomes Passive Income

Building Wealth Strategies

• Introduction
• Effective Wealth Building Strategies Used by Personal Finance Pros
• Develop A Wealthy Mindset
• Strategies for Building Wealth
• Strategies to Build Wealth Fast
• How to Begin to Build Wealth

Conclusion

• Conclusion

Benefits

Edplx has connections and great business relationships with respectable companies within the job industry. This plays an important role in assisting all our students searching for internships, apprenticeships and part/full time jobs. We also provide all our students with the opportunities to speak to our talented career advisors and experts. You will also be invited to career fairs to give you the chance to present yourself to potential employers, once you sign up for it.

Certification

Upon completion of the course, internationally recognised certificates that can be traced by employers are available upon completion.

Who is this Course for

This course is for investors and entrepreneurs who are looking to build up passive income sources.

  Updated on 31 January, 2023