For this post, I have decided to tell you the initial steps that I took on how to passive income for retirement. As I mentioned before, it took me about a year to accomplish something. Let me warn you that this post does not contain ways of making money. Instead, I will concentrate on the initial painful process and some of the pitfalls that you need to be aware to get to the point of making real money. Too many people rushed headlong into the various schemes online thinking that everything is rosy only to be sorry later because they were unaware of what a jungle the internet is. In the beginning, I faced two hurdles.
How to Make Passive Income for retirement?
The first hurdle was learning how to make extra money in retirement as I could not go to work like before. My mobility issue ensured my early retirement. (For those of you who are new to my site, I had crocked my back real bad and had to rely on a walking stick to walk). So how do I do make money? You know, something on a part-time basis which will not require me to overexert myself. Well, I started by asking around and turned to my family, friends, etc. I gathered that at this late stage of the game, the only way in was to get someone to pull strings for me. Thought that they would somehow have contacts and be able to help me. Unfortunately, none could help. After one too many disappointments, I decided to do what everyone does nowadays, I Google and Youtube it up! These two are the complete tools that you will need to start with. If you are reading this, it means that you are also doing it right now.
How to perform research on Google and Youtube?
So I immediately switch on my trusty laptop and do the research. What should you search for? How should I go about this? I mean what will get you to your goal. My best answer to this is not to out-think the computer. Instead, just picture your situation in simple terms and then ask the only possible question. The KISS principle. In my case, I was looking for part-time work that pays me to work from my home. The basic main words that I used to Google in multiple permutations were (a) how, (b) ways, (c) earn, (d) make, (e) cash, (f) money, (g) at, (h) from and (i) home. Through this, I found tons of articles online specifically relating to and advising on the many ways you can earn extra money at home. The gamut of available jobs ran from selling/renting stuff to working online. The resulting information overload raised my hopes up several notches.
How to make money fast?
My next hurdle was a bit tougher. Now with these myriads of ways, my question was how to make money fast? Hold on. You may ask what was my rush. The way I see it, I am already in my fifties. And if I took my time to do this, I will be in my sixties and probably seventies before I can enjoy my retirement. I sure do not want to grind through the next 10 or 20 years of my life just barely getting by. I want to live it to the fullest during this period and for that, I need the extra money fast. Plus there is also the possibility that I may use up all my nine lives before that.
Turns out this was an easy one to answer. Actually, there was only one clear choice for a partially disabled guy. Online work, what else. What I did next was to sieve out all the non-online job options to concentrate on what was relevant to me. You need not do this as there are many good jobs out there but I had to do this due to my situation. Anyways, the internet is really a godsend invention. It is literary the whole world at your fingertips. Online jobs don’t discriminate and level the playing field for everyone. But you still have to pay your dues. The good news is that it is now so user-friendly that the learning curve is now in the layman’s favor. However, three things brought me down to earth.
Working the net
Searching for information was easy. What I found was that you could make money online either by signing up for some sites who will then pay you to perform tasks or you g into business yourself by setting up a website of your own. The former will not make much money but it is still important that you also venture into this as the money earned however little will provide you with the motivation and inspiration to proceed further. As for the latter, I hit on a roadblock.
Bang! The words SEO was introduced to me. For those uninitiated, SEO means search engine optimization. To ensure that you can gain traffic to your site and in the process monetize it, you will have to know this. If done properly, your site will float to the surface for your intended audience to see and hopefully, they will bite into whatever you are selling. However, if ignored, your site will just sink into oblivion and nobody will ever know that you exist online. Which means no money! Still, I wish to qualify that SEO is not a must but it is a cheap way to advertise your site. Otherwise, you will have to fork out some money to do an actual advertisement. Just imagine, you have not even started making money but you have already sunk in enough to turn you off. Luckily, there is so many information online that will teach you how to do SEO. I will share my experience with you in due course. Also, I will also share with you how to go about getting a website and hosting it. A lot to learn. Luckily I have the time.
Next, many of the information provided online does not tell the whole truth. In fact, they stretched the truth. I find lots of this on Youtube. There are so many videos telling me that I can easily make hundreds of dollars daily and thousands monthly just by using this app or that website. This was another moment when I thought that I hit the mother lode. That is until I tried it. Bummer! There is no way for you to do it. Just like the jackpot machines, most of the people running the sites will also have a limited amount of money that they can play with. So the sites will have limits or introduce chance into the scheme of this nature such that you will invariably be disqualified every now and then. Don’t believe me. Think of this. Since many people are connected to the web, they should all be rich right? Wrong! If it was so easy, then the number of rich people in relation to the other would not be so small. Sadly, only a small percentage of people own 80% of the world’s wealth. What happens is that YouTubers in their effort to market their site, they have to stretch the truth a little.
I cannot blame them. Otherwise, no one will watch their video. Don’t agree? If there were two people promising money to you, one said that you will make $1000 easily with this method while the other said that you should be able to make enough for coffee by the end of the day, who will you choose to view. Case closed.
The last thing that I need to warn you is that there are many scams running online. Just as there are many of us desperate to earn extra money at home online, there are many scammers who want to make money off people like us. They know that you are desperate and easy for the taking. Just ensure that the bait is succulent enough and we will be taken in. I encountered this first hand with a binary options site. I sunk $2,500 in after I was promised that they will double it within a few days. And they did. However, as with all scams, there is always a catch. I was not allowed to withdraw this until I have held in for a certain amount of time. Anyways, safe to say I eventually lost all the money. C’est la vie. On hindside, they are technically no different from us in that they want to make money. But that is where we must draw a line. They are blatant thieves. We, the bloggers and internet marketers must be different. The internet has given us a unique opportunity to earn extra money at home that was not available to people before its era. We must be the yin to the scammers’ yang. Only through this way, can the internet flourish. Otherwise, it will just collapse under the weight of all the mistrust online. So the money that we make online should be in return for some real tangible benefit that we give to the other party. I feel that this is important for all of us to establish. I will elaborate more on scams in my subsequent posts. Need to save some of the good stuff for later.
I hope that my post has given you an insight into what is there on the internet. Not everything that you find online is a sure-fire thing. Always take them with a pinch of salt and go in with your eyes fully opened. Even better, go in with the expectation that things are not what they say. After a while, with experience, you will start to be able to differentiate them.