{"id":9595,"date":"2020-02-25T12:22:00","date_gmt":"2020-02-25T17:22:00","guid":{"rendered":"https:\/\/einvestingforbeginners.com\/?p=9595"},"modified":"2022-06-01T15:48:22","modified_gmt":"2022-06-01T19:48:22","slug":"passive-income-books-ashul","status":"publish","type":"post","link":"https:\/\/einvestingforbeginners.com\/passive-income-books-ashul\/","title":{"rendered":"4 Top Passive Income Books for Building Lasting Wealth"},"content":{"rendered":"\n

Lately I\u2019ve been on a sort of\nbook review kick and have given some suggestion for best investing books but\nnot I want to tackle the best passive income books that I would recommend that\nyou read!  <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

If you\u2019ve never considered a side\nhustle\/passive income\/second job before, you\u2019re missing out.  Now let me clarify and say that it\u2019s\nabsolutely not for everyone.  Some people\ntruly have no more time in their life to be able to devote anything extra to a\npassive income stream, but I\u2019d challenge you to really think about if you have\nthe extra time or not.<\/p>\n\n\n\n

If all that you do every night is come home from work and watch tv, and you replace that time with a side hustle, are you actually worse off?  I\u2019d argue that not only are you making more money, but you\u2019re stimulating your brain more, and now maybe you can even cut cable and go to just Netflix!  I love lazy days as much as anyone, but a side hustle can truly be a fantastic way to help you reach your goals and also increase the satisfaction in your day-to-day life.  <\/p>\n\n\n\n

Watching tv all night, every night, can become very boring and even depressing\u2026<\/p>\n\n\n\n

It might not seem like it\u2019s worth your time, but if you could spend a few hours a week, look at the possible returns you could have for retirement if you invested it all in the market:<\/p>\n\n\n\n\n\n\n\n

\"\"<\/figure>\n\n\n\n

These returns\nare if you worked for 1\/2\/5 years making this much each week and then invested\nit for 40 years at an average CAGR of 8% (S&P 500 average has been over 11%\nfor the last 20 years).  So, in other\nwords, working a few extra hours for 1, 2 or 5 years could really give you a\nHUGE opportunity to retire earlier than you might\u2019ve been able to before.  I know it\u2019s not for everyone\u2026. but it should\nat least be worth considering! <\/p>\n\n\n\n

So now that\nyou\u2019re ready to get going with your passive income stream, where do you\nstart?  Well, as with almost anything in\nthis investing\/financial world \u2013 start with research!  We have a wealth of knowledge available to\nus, but I still think one of the most valuable resources for us to learn is\nwith reading.  Buffett reads hours upon\nhours everyday so why would we not try to do the same thing? <\/p>\n\n\n\n

The 4-Hour Workweek\u00a0 <\/strong><\/a><\/p>\n\n\n\n

I feel like\nthis book really is the unanimous #1 for the passive investing book list.  The book was written by Tim Ferris and has\nbeen on the New York Times Best Seller List for four years.  Ferris goes into detail about his history of\nbeing a workaholic and how he was able to transform his life into one of\nfinancial freedom and not having to work for \u201cthe man\u201d.  He really focuses on ways to become more\nefficient with your time and how to not only become financially free, but also\nto become free from being a slave to the game and the hustle and bustle. <\/p>\n\n\n\n

KaChing<\/a><\/strong><\/p>\n\n\n\n

In KaChing,\nJoel Comm five main ways that you can make money online.  In today\u2019s world, I think that this is more\nprevalent than ever.  Making money online\nis a much more realistic way for someone to have a passive income stream.  Being able to make money online allows you to\ndo it on your own time and still get the most out of your schedule while\nsetting yourself up for future success.<\/p>\n\n\n\n

The best thing\nabout Comm\u2019s tips are that they are very practical and easy to duplicate for\nthe common person.  <\/p>\n\n\n\n

The Six-Figure Second Income<\/a><\/strong><\/p>\n\n\n\n

The thing that\nI love about this book is that it very actively is focused on being a secondary\nincome stream, as identified in the title. \nDavid Lindahl focuses on ways that you can turn an online opportunity\ninto a very successful passive income stream. \nThe excerpt that I absolutely love from the book really just shows that\nthis is truly a guide for anyone to follow:<\/p>\n\n\n\n

\u201cYou don’t have to\nquit your current job, or already have piles of money, or be 24 years old, or\nriding a booming economy, in order to start a successful online business.<\/p>\n\n\n\n

The Six-Figure Second\nIncome explains how to start or grow a business even when you think you\nhave plenty of strikes against you.\u201d<\/p>\n\n\n\n

A lot of times\nwhen talking about financial independence we focus on starting early, saving\nmoney, etc.  While anyone can do these\nthings, you might not be aware of the importance of compound interest and\nsaving money until you\u2019re older, so what now? \nAre you totally SOL because you didn\u2019t save for retirement when you were\n22?  NO! \nThis book shows you how you can still achieve your goals regardless of\nwhat situation you\u2019re in.<\/p>\n\n\n\n

The $100 Startup<\/a><\/strong><\/p>\n\n\n\n

\u201cIn preparing\nto write this book, Chris identified 1,500 individuals who have built\nbusinesses earning $50,000 or more from a modest investment (in many cases,\n$100 or less), and from that group he\u2019s chosen to focus on the 50 most\nintriguing case studies.  In nearly all\ncases, people with no special skills discovered aspects of their personal\npassions that could be monetized, and were able to restructure their lives in\nways that gave them greater freedom and fulfillment.\u201d<\/p>\n\n\n\n

If you were\nable to read that and not feel extremely excited, then I call BS on you.  Chris Guillebeau is someone that has\nexperienced financial freedom at a very young age and takes it upon himself to\nshow us case examples of how everyone else did it.  Personally, I love this for many\nreasons.  So many people love to share\ntheir story but sometimes their story might not necessarily click with us.  Chris is showing us 50 examples of people\nthat have also had success retiring at an early age.  I mean, if you like to learn by example, is\nthere really a better way than that?<\/p>\n\n\n\n

Just as with\nanything else, the best thing that you can do is start.  Even if you get a book that maybe doesn\u2019t\nclick as much with you as something else might, who cares?  You\u2019re not going to be worse off for reading\nthe book and I guarantee that you will learn something from it.  I encourage you go get a book right now if you\nhave interest in any of these.  Buy it on\nAmazon, get it for your Kindle, go to the library \u2013 I don\u2019t care!  <\/p>\n\n\n\n

The only thing\nkeeping you from creating that passive income stream right now, is you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lately I\u2019ve been on a sort of book review kick and have given some suggestion for best investing books but not I want to tackle the best passive income books that I would recommend that you read!  If you\u2019ve never considered a side hustle\/passive income\/second job before, you\u2019re missing out.  Now let me clarify and […]<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[5953,3],"tags":[],"yst_prominent_words":[5833,1584,1590,3247,1262,2922,1586,1408,5881,5676],"_links":{"self":[{"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/posts\/9595"}],"collection":[{"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/comments?post=9595"}],"version-history":[{"count":1,"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/posts\/9595\/revisions"}],"predecessor-version":[{"id":21053,"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/posts\/9595\/revisions\/21053"}],"wp:attachment":[{"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/media?parent=9595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/categories?post=9595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/tags?post=9595"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/einvestingforbeginners.com\/wp-json\/wp\/v2\/yst_prominent_words?post=9595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}