“A Roadmap To Your True Financial Independence - Generating A Passive Income For Yourself”
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Are you searching for a way to true financial independence for yourself and your family?

Aren't we all? ;)

Are you tired of being "trapped" in the "rat race", working day in and day out to earn a pay check that just covers your immediate and short-term expenses?

Do you feel like you just aren't making any positive progress in this way towards your true financial independence?

Do you, therefore, believe that there *must* be a better way? And are you ready to take advantage of this better way when yousee it?

In these articles, I will share with you what we believe isthis "better way" and provide you with a roadmap that you maycustomize to your situation and needs and use for yourself toachieve your true financial independence as soon as possible!:)

In a "nut shell", here is what we believe to be the simpleroadmap, listed in order of importance, to your financialindependence:

1) Build and grow a truly passive income stream!

2) Generate additional revenue with commercial-off-the-shelf(COTS) products (and/or others' services)

3) Use the money you earn from working, e.g. your "day job"and/or business(es), to further fuel your investments in andaccelerate the returns on these investment from #1 and #2above.

In this article, I will address Step #1, which is the one thatwe feel is the critical success factor and the most important"piece in the puzzle" to achieving and sustaining your truefinancial independence as soon as possible! :)

We believe that the "key" to true financial independence is tohave a steady, and preferably growing, source of truly "passiveincome".

So ... What is a "passive income"?

A truly passive income is any source of income wherein youcontinue to make money without having to expend any furthertime or effort to maintain the source or level of this income.

You may probably already see that when you have a truly passiveincome that generates sufficient funds to cover your necessarymonthly expenses then you are truly financially independent,since this means that you no longer have to perform any furtherwork to earn the money you need to live on, right?! :)

So ... How do you get to a passive income that covers yourexpenses?

Well, like Robert T. Kiyosaki, author of the "Rich Dad, PoorDad" books, T. Harv Ecker, author of "The Millionaire Mind",and so many other "guru's" will tell you, the key to a trulypassive income is making Your Money Work hard for You! Ratherthan you working hard for your money! Right?

So ... How do you get your money working hard for you?

Well, firstly, you have to have some money that you can put towork for yourself, right?

And unless you are lucky enough to win the lottery or happen toinherit (or find ;)) a large sum of money, then the chances arethat you will have to start with what you can afford out ofwhat you currently have saved and/or from your earnings andgrow it from there, right?

Then, there are many, many ways in which you may earn a passiveincome, from stocks and bonds, CD's, mutual funds, money marketaccounts, real estate, commodities, investing in businesses,etc. etc., right?

And each of these has their Pro's and their Con's relative toall of the rest.

Which of these is best for you and your particular needs andsituation is somewhat beyond the scope of this article, and maybe addressed in more detail in a future article, but herein the*point* we wish to have you take away with you is ...

Pick whichever passive income generation methods are best foryou, start growing your passive income stream(s) and startgetting your money working for you Today! Right?

Please see the resource box below for more informationregarding the passive income generation method(s) which weprefer, use for ourselves, and therefore recommend.

And although I know that I just stated that we were not goingto go into a detailed analysis and comparison of each of thesepassive income generation techniques, which we are not, hereare a few of the factors that you may wish to consider andquestions you may wish to answer for yourself in your selectionof which of these are the best passive income generation methodsfor you, ok?

1) What are the true investment requirements?

What are the initial investment requirements? / How much moneydo you have to have to get started?

What if any recurring investment requirements are there? Do you need to continue to invest more money into thisinstrument in order for it to maintain the level of passiveincome generation you need?

2) What is the real net rate of return e.g. 1% a year, 10% ayear, 1% a day, etc.?

How much passive income is this technique going to generate foryou, each day / month / year, based on how much you invest init?

Do these earnings compound upon themselves, and if so at whatrate and frequency?

3) How accessible are the earnings generated?

Can you really access the money generated when you need it,e.g. to pay the mortgage and the monthly bills, etc. or do youhave to wait and plan ahead to withdraw your earnings?

What do you have to do to access the earnings generated, andhow easy to do is this for you?

4) How truly passive is it?

Do you have to constantly "watch the markets" and/or yourinvestments to avoid losing money and/or your potentialearnings in them?

Do these investments require some continuing level of effort tomanage and/or maintain, e.g. real estate?

If so, then is this something you really want to do with yourtime in order to "guard" or maintain your investments?

5) How long will it take for this method to generate thepassive income you need to cover your expenses such that youmay achieve true financial independence?

Will this generate enough for you to live on in a matter ofmonths or years or not until you are retirement age? This makesa Big Difference, doesn't it! ;)

Will this method generate barely enough for you to get by orwill it continue to grow and provide you with added financialsecurity?

6) What are the risks?

Could you lose your initial investment and/or your earnings ifyou aren't vigilant or careful?

Compare the risks to the potential rewards and decide if therisks are outweighed by the rewards and whether or not you arewilling and able to take these risks.

Your answers to each of these questions relative to the passiveincome generation methods which you consider for your ownfinancial independence strategy and plan should help you chosethose that are right for you and your current needs andsituation at the time, right?

Again, the objective is just to chose those that are best foryou right now, and get started generating a passive income,Today! Right?

The sooner you start generating a passive income and gettingyour money working for you, the sooner and more likely you areto achieve true financial independence as soon as possible! :)

In Part 2 of this series of articles, we will explore thevarious ways in which you may generate additional revenue withcommercial-off-the-shelf (COTS) products (and/or others'services) and how you may use the revenue generated from thesesales to further fuel and grow your passive income stream(s).

And then, in Part 3, of this series of articles, we willexplore how you may use the money you earn from working, e.g.your "day job" and/or business(es), to further fuel yourinvestments in and accelerate the returns on these investmentfrom both Step 1 and Step 2 above

I hope that you have found this article helpful and beneficialto you!

Please feel free to pass it along to your friends and familywho may also be interested in achieving their own financialindependence and whom may benefit from it.

To Your Financial Independence,

- Michael S. DeVries

About The Author:

Michael S. DeVries is the Moderator of TheVirtual Consulting Discussion List(http://www.TheVCF.com/vcdl.phtml) and Principal of The VirtualConsulting Firm (http://www.TheVCF.com). Sit Back, Relax andMake More Money with Less Effort than you ever thoughtpossible! Find out how Now at:

http://www.thevcf.com/ECEXServices.phtml

This business entrepreneur resources for free MLM Training tools for MLM Consultants Success site has network marketing articles about direct sales vacancy, direct sales tips for MLM and marketing network selling secrets, free advice about network marketing tools and training for direct sales home party business. Directory of MLM consultant direct sales recruiting tips, including direct sales opportunity and network marketing consultant network marketing lead generation resources

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