Try Blinkist to get the key ideas from 7,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Get started
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
How to Make $100,000 per Year in Passive Income and Travel the World by Chase Andrews is a practical guide that teaches you proven strategies to generate passive income and achieve financial freedom, allowing you to live the life of your dreams.
In How to Make $100,000 per Year in Passive Income and Travel the World by Chase Andrews, we are introduced to the concept of passive income and its significance in achieving financial freedom. The author emphasizes how traditional employment often leads to a lack of time and financial independence, and how passive income can be the solution to this problem.
Andrews explains that passive income is money earned with minimal effort, typically through various streams such as real estate, stock investments, and online businesses. The book sets the ambitious goal of helping the reader achieve an annual passive income of $100,000, a figure that could potentially allow for a comfortable lifestyle and the freedom to travel the world.
The book then delves into a comprehensive exploration of 14 different passive income strategies. It begins with the popular method of creating and selling e-books on platforms like Amazon Kindle. Andrews provides a detailed walkthrough on how to write, publish, and market an e-book, citing numerous success stories to illustrate the potential financial gains.
Next, the author discusses the option of selling physical products through Amazon's Fulfilled by Amazon (FBA) program. He explains how to find profitable products, manage inventory, and optimize sales. This is followed by a section on real estate investments, where Andrews advises on how to buy, rent, and manage properties for maximum returns.
Andrews then shifts the focus to stock market investments, particularly options trading. He provides a simplified explanation of options, strategies for trading them, and the potential profits. The book also covers the creation of a dividend portfolio, a selection of stocks that pay regular dividends, and how to manage it for long-term passive income.
The author further explores digital assets, such as creating and monetizing a membership site, starting a profitable blog, and flipping websites for profit. He explains the processes involved in each of these strategies, including content creation, marketing, and selling digital assets for substantial profits.
Andrews then introduces the concept of authority sites, websites that are considered trusted sources in their niche. He explains how to monetize such sites through various means, such as affiliate marketing, advertising, and sponsored content. The book also touches on investing in precious metals like gold and silver, and how to turn them into income-generating assets.
Overall, How to Make $100,000 per Year in Passive Income and Travel the World provides an extensive overview of various passive income strategies. It offers practical advice, actionable steps, and real-world examples to help readers understand and implement these methods.
In conclusion, the book emphasizes that achieving $100,000 in passive income is not an overnight process, but rather a long-term goal that requires dedication, persistence, and continuous learning. Andrews encourages readers to start small, focus on one or two strategies, and gradually expand their passive income streams.
Ultimately, the aim is not just to make money, but to create a life of freedom and flexibility. The $100,000 figure is not a fixed target, but a symbolic representation of financial independence. As the title suggests, the ultimate goal is not just to make money, but to have the freedom to enjoy life and travel the world on your own terms.
How to Make $100,000 per Year in Passive Income and Travel the World by Chase Andrews provides a comprehensive guide to building multiple streams of passive income. From real estate investments to online businesses, this book offers practical strategies to achieve financial freedom and live the life of your dreams.
Individuals who want to achieve financial independence and create passive income streams
Entrepreneurs looking for practical strategies to generate $100,000 per year without working 24/7
People who desire to travel the world while still earning a substantial income
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
Try Blinkist to get the key ideas from 7,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Get startedBlink 3 of 8 - The 5 AM Club
by Robin Sharma