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Building passive income involves several steps:
First, identify a viable source of passive income. This could be real estate investments, dividend stocks, peer-to-peer lending, or creating a blog or YouTube channel.
Next, save and invest your money in your chosen source. This might involve buying properties to rent out, purchasing stocks that offer dividends, or investing time and money into creating content for a blog or YouTube channel.
Once your source of passive income is established, it's important to manage it effectively. This could involve hiring a property manager for your real estate, regularly reviewing your stock portfolio, or consistently creating and uploading new content.
Remember, building passive income takes time and effort, but the potential financial rewards can be significant.
Question was asked on:
When people focus on goals, they run into four problems: Winners and losers have the same goals, so it's not a good indicator of why some win and some lose. To achieve a goal is only a momentary change, and then you begin to want something else. You will inevitably not meet all your goals, so too much preoccupation with them can be mentally disastrous. Goals aim for a specific thing, not sustained change, and are at odds with long-term progress. Don't become preoccupied with goals — instead, focus on sustained systems of change. Think of it like this: it's nearly impossible to go from zero to 100% improvement, but it's much easier to go from zero to 1% to 2.1%, then 3.3%, and so on.
Asked on the following book summary:
Why is it so hard to form new habits and break bad ones? We read Atomic Habits by James Clear, which explores the psychology behind habit formation an...
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How to take up habits that actually stick? Gamify your habits with custom reward amounts for each habit completed, and track progress from month to month or year to date for any year between 2023 and 2033. Supports 400 daily, weekly, and monthly habits across multiple habit types.
Use our Habit Tracker to categorize and track your habits daily, monthly, and annually. It illustrates your progress with a set of charts, making it easy to see how you're doing. Plus, it highlights your achievements and points out areas for improvement to encourage you to outdo yourself month by month.
Whether to ensure productivity as you work from home or to share tasks across the team, our Productivity Planner deck can help to keep your schedule disciplined and progress in check. This resource is available in both light and dark color themes.
Ever wondered how Jeff Bezos or Elon Musk stay so productive? What about how Google, Asana, or LinkedIn plan their own productivity? Our Productivity Planner provides the techniques top companies use to increase their productivity. You’ll learn how to run meetings, plan your day, schedule your week, and manage projects on a month-to-month basis just like the top business leaders in the world do.