It’s the 5th of October 2022, I have made a decision to build wealth using the internet. The journey will be documented on this blog.
I am currently working extremely long hours as a security officer to cover my monthly expenses. The work involves 12 hour long night shifts. I have been doing this for 6 years, just trading time for money.
I have decided that this cannot go on for much longer as these night shifts are affecting my health adversely.
I have made a promise to myself that I will build up a monthly passive income using the internet to enable me to quit my current employment within 2 years (5th of October 2023).
I have set up this blog using Wealth Affiliate, a complete blogging platform that also offers affiliate marketing training. Full training and support is included and the community is super helpful.
They take care of all the hosting and it’s simple to start your own WordPress self-hosted blog. They also have an affiliate program that you can use to build up a monthly passive income.
You can create multiple blogs using Wealth Affiliate, and work on monetizing them using affiliate marketing.
My YouTube Channel
I have also created a YouTube Channel to complement this blog. Please subscribe to this channel for updates and videos related to building wealth using the internet.
My long-term goal is to get this blog and also my youtube channel monetize via AdSense. I don’t know how long this will take, but they will become additional streams of passive income in the future.
My initial streams of monthly passive income will be created using affiliate marketing. I am looking at digital products and services that have affiliate programs which pay a monthly commission.
Building My Own List
The leads that I capture are also going into my Autoresponder at GetResponse. I am building my own list, so that I can promote products and services to them as an affiliate and earn commissions.
My Lead Gen Secret is another valuable marketing tool that I am using to send out email to fresh prospect daily. They give you 100 to 200 leads every day, and also offer a lucrative affiliate program.
Work With Me
I have just got started on this journey, if you have a similar goal, please join me by getting stated with any of the products and services that I personally use.
I am not going to pose as an expert at affiliate marketing, as I have just started out. If you decide to work with me, I will do my best to support you.
Follow Your Dream
Most people have a dream of creating a better lifestyle. In this modern world you need money to live your dream lifestyle. Only a small number of people take the actions necessary to transform their dream into reality.
In the past my dream of creating a better lifestyle was nothing more than a wish. I toyed around with trying to create wealth using the internet. I was not serious about it, as I had become comfortable with the lifestyle that I was living.
I was trading time for money and it just about covered my living expenses. I did not have excess income to enjoy the luxuries of life.
After reading various books related to wealth building, my mindset has transformed. I have a strong belief that I can transform my lifestyle.
I have full faith in my ability to build up a monthly passive income to enable me to quit my current employment within 24 months.
I am motivated by the vision of the future that awaits me. The internet will enable me to create the lifestyle that I truly desire.
Passive Income Streams
I know that I need to get out of the trading time for money mentality. Real wealth is created using passive income streams.
The super rich have investments in stocks that pay dividends, properties that earn them rent. Some of these properties are shopping centres, hotels, apartment blocks. The wealthier you get and the more connections you make, the easier it become to earn money.
I don’t have a large sum of money to invest, so I need to look at ways to earn money online that require little small monthly investments and offer leverage.
No income source is 100% passive, you will need to maintain it. You will be able to maintain your online passive income sources by working only 4 to 5 hours weekly. In my case this will be much better than working 60 hours weekly in my current job to earn enough to just about cover my expenses.
Passive Income streams take time and effort to establish. Once you have created enough momentum, the earnings will keep on coming in.
How Much Do You Need To Get Started?
The more money and time you can invest, the quicker you will build up your income. The amount of time and money you invest will depend on your personal circumstances.
I am prepared to invest $300 monthly and spend 10 to 15 hours weekly to build up my passive income streams.
The minimum amount of money you need to get started with is around $100 monthly. If you are not willing to invest $100 monthly escape the trading time for money trap, you need to focus on your goals again.
If you are really struggling on the money side, I would suggest that you get started with only one passive income stream for around $30 monthly and put in maximum effort in build it up.
Once you are earning over $100 monthly from it, you can work on establishing another stream of passive income.
If you invest $30 monthly on a digital service, and it offers an affiliate program that pays $5 monthly on everyone that you refer…
If you refer 10 people, you would earn 10 x $5 = $50, leaving you a monthly profit $20
If you refer 50 people, you would earn 50 x $5 = $250, leaving you a monthly profit of $220
If you refer 100 people, you would earn 100 x $5 = $500, leaving you a monthly profit of $470
If you refer 1,000 people, you would earn 1,000 x $5 =$5,000, leaving you a monthly profit of $4,970
You will be benefiting from the service and also earning a monthly commission.
It gets much better when leverage is built into the commission plan, as in the case of My Lead Gen Secret. You will not need to refer 1,000 people yourself to earn a monthly commission of around $5,000.
The leverage in the commission plan will build up your monthly passive income rapidly.