19 Feb 2016

Passive Income: How to prepare a plan?

How to prepare Passive income - Plan?

✔Make your life time Networth goal.Eg: 100 or 50 crores.Meditate well and  think deeply about different sources to achieve your networth goal.Your mind will give few sparks.Make this a process.

✔Then prepare a 15 year wealth target which must be half of your life time goal amount.Eg 50 or 25 crore.

✔10 year target amount should be half of 15 year amount.eg: 25 or 12.5 crore.

✔5 year target amount must be half of 10 yr goal.Eg:12.5 or 6.25 crore.

In this way,Networth goal can be created in step by step manner.
Next is your Income goal.🎯

✔Write 1 year income goal.It should be minimum 5 times of your previous year income.Then find out 5 to 10 ways to achieve it.It will be a brainstorming efgort if you apply well.

Then,Reduce Income goal amount to 2 times of last year income.Cut excess sources from the list.Plan with favourite expected sources of income.

If you are not comfortable with 2 times of last year income,Rework again to achieve double income.

✔After Annual plan is ready,make 6 month income goal.
It should be 55% of your Final passive income goal for the year.

Then,prepare a 26 week action plan to achieve it.


At May 19, 2017 10:33 am , Blogger Kavya said...

passive income any examples

At July 19, 2017 3:11 pm , Blogger smartpassiveincome said...

Great post shared you.Passive income is a income that you generate without doing much and without investment. You can find the Sources Of Passive Residual Income in Australia.

At August 16, 2017 9:22 am , Blogger seema said...

This post will be very useful to us....i like your blog and helpful to me....nice thoughts for your great work.

MCX Trading


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