Investing to Earn Passive Income

by Redeeming Riches on January 4, 2015

earn passive incomeInvesting to Earn Passive Income

If you are actively searching for financial news investing tips and techniques, one of the best places to look is in the book, “The Richest Man in Babylon”, by George S. Clason. The extremely famous “Babylonian Parables” outlined in this book have been hailed by numerous experts as the absolutely greatest of all of the inspirational-based works published on the financial-related topics of being thrifty, engaging in financial planning, and achieving personal wealth. The fascinating and highly informative stories provide the steps that are necessary to assist you in personally discovering the unique path to prosperity and experiencing the joys of this path. “The Richest Man in Babylon” holds the unique secrets that are necessary to learn how to keep your money and make your money earn more money. If you are interested in investing money safely so that you have money available to tend to all of your financial responsibilities, one of the main things that you will learn from this book is to pay yourself 10% of all that you make first – before anything or anyone else. By taking that 10% and investing it, you have the ability to create even more money.

Part of Your Earnings is yours to Keep

One of the main principles taught within “The Richest Man in Babylon” is that part of your earnings is yours to keep. It even goes on to say that you should pay yourself first. The amount that you should take for yourself is 10%. Regardless of the people that you owe, the debts that you owe, or the total amount of your bills, this 10% should always come out first for you to spend however you like. However, the book also recommends that you should ensure that your money continues to grow. Therefore, based on this information, you should take out that 10% out of your earnings for yourself, but, you should focus on growing that 10% so that your money continues to grow. Despite the fact that this amazingly powerful book was written in the 1920s, if you review the top-rated financial news investing tips of today, the virtue of the ever-popular 10% investment is a widely popular concept.

“Every gold piece you save is a slave to work for you. Every copper it earns is its child that can also earn for you. If you would become wealthy, then what you save must earn, and its children must earn, that all may help to give to you the abundance you crave.” – The Richest Man in Babylon

Investing Money Safely

Now that you understand that you should keep 10% of all that you earn and that that money should be invested so that it can make you more money, you should learn a few methods of earning passive income safely. You may place 10% of your earnings into a money market deposit account, a high-yield checking account, invest in Certificates of Deposit, short-term bond funds, or engage in peer-to-peer lending. There are many innovative ways to invest money so that you may earn money. All it takes is a little creativity, a bit of research, and a commitment to pay yourself and make those coins your “slaves” to earn more money. In addition to this, it would help to ensure that you have your very own copy of “The Richest Man of Babylon” so that you may learn the rules of money.

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