Archive for the Passive income Category

Whitney Houston’s Estate is not BROKE!

Many reliable sources on the internet have label Whitney Houston’s estate as BROKE and in a financial bind.  Sources say that Whitney Houston was already on the brink of a financial calamity even facing bankruptcy.  Music Industry Insider Wayne Russo gives a full break down of Whitney’s liability to Sony Music Group, and why it may be a long time before her Estate would reap any of her music royalty wealth. (Read article here) But music royalty wealth is only one piece of a very big pie that heirs of Whitney Houston can profit from to continue her legacy.

Postmortem Riches

Celebrity wealth in death is not a new topic, and until Michael Jackson’s death in 2009, Elvis Presley reign as the highest paid dead celebrity.   Keep in mind that the bulk of wealth that is deriving from Elvis Presley is not music royalties.  Presley’s postmortem earnings come from Graceland admissions, licensing and merchandising and a Cirque du Soleil.  Licensing and Merchandising is a billion dollar industry and the advisors to these dead powerhouses know it; that’s why Elvis Presley Enterprises, Inc. (not to be confused with his estate) gross proceeds for 2011 were in the billions.

Whitney Houston’s Legacy & Deja Vu

Although the Estate of Whitney Houston maybe in debt to the Sony Music Group, for music royalties. Nothing is stopping the heirs in creating a new company that will continue to keep Whitney Houston’s legacy alive and bring in some of those postmortem riches. Let us not forget that when Michael Jackson died, once again reliable sources on the internet said is estate was in debt to AEG for $30-35 million, fast forward  2 1/2 years later, Forbes listed him as one of the highest paid dead celebrities in 2011.

© 2012, Lorillia Brown-Phillips.  All Rights reserved.

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How the Game of Monopoly can Teach your Children about Money!

Teaching children the different concepts of Personal Finance can be a difficult topic of discussion for some adults.   Many adults feel clueless on where to start to make the subject interesting and captivating.  Keeping a child’s attention on the subject can be daunting if the approach is too analytical.  If you want to succeed with introducing children to the topic of personal finance, make the subject fun and exciting by using board games.

Read the rest on Your Black World

 

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How to Obtain Financial Success

There are a measure of wealth rules that must be abided by in order to accomplish financial, freedom, success and prosperity. For instance, rich individuals understand that they have to get paid based upon their final result instead of on their time, they understand the importance of holding unlimited revenue potential, and they know that they must leverage themselves so that they don’t need to work hard in order to bring in monumental sums of money. They also realize that they must create assets and opportunity as it’s not always about buying those things.

Affluent individuals abide by these rules and consequently they’re successful financially, yet most individuals don’t even know about these principles, not to mention live by them. That’s likewise why financially free individuals know about and capitalize on passive income, although the masses don’t. Basically, passive income minds of all the “wealth principles” and provides everybody the ability to grow limitless wealth.

Once you work to produce passive income streams, you’ll be getting paid founded on what you put in, not simply the time you spend executing it. As you are able to produce as many income streams as you wish, there’s absolutely no limit to the sum of money you are able to potentially earn.

When formulating passive streams of income, you’re not spending time, you’re investing it. Instead of trading time for revenue you’re investing time into long-run residual profits.

For a few illustrations of passive income consider a writer who composes a book, publishes it, and then brings in residuals on it for the remainder of his life. Or consider having a number of coin vending machines.

There are likewise a lot of simple home and net business models that anybody may easily begin to utilize with big potential. One big benefit that many individuals find in this sort of passive stream of revenue is that a lot of profitable businesses, particularly online, may be started free or really cheaply.

Make sure that you learn all you can about passive streams of revenue today.

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Are you creating derivatives?

Before I begin to write about how to create and develop derivatives, I first want to ask you do you know what a derivative is?  If you think the derivative I’m talking about is some exotic financial instrument traded on Wall Street then your wrong.  The definition of a derivative is a byproduct or substance that can be created by another product.  The root word for derivative is derived.  So let me illustrate for you an example of a derivative; let’s use an apple.  An apple is a derivative of an apple tree; apple sauce, apple juice, and apple cider is a derivative of an apple.  Do you see my point, the example that I gave you were two examples of byproducts of another, which in turn created derivatives.

As a business owner or entrepreneur you too should be creating your own derivatives; that derivative could be a book, an online course or a coaching program.  The derivatives that a business owner creates become byproducts for that business, and when you create your own derivatives you create infinite income or passive income for yourself.  Your business derivatives become assets created by you, and when you create your own assets; your assets create passive income.  See most business owners concentrate on generating earned income, for example how can I get more business or get more clients.  But when you concentrate on creating earned income, the asset side of your balance sheet is empty and it has zero assets.  In order to create passive income you have to build your business assets which in turn are your derivatives.  When you begin to create derivatives the asset side of your balance sheet builds up, which will create passive income on your profit & loss statement.  Remember in business it’s important to have a profitable balance sheet as well as a profitable income statement.  So what are you waiting on get started on that book, put together that online course, or start that coaching program.  Remember when your begin creating financial wealth your only using 10 percent of your time and living on 90 percent of what you created.

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What are the Three types of Income?

Many clients and people I randomly talk to always share with me the reasons why they cannot  start building Wealth.  One of the responses I always get is “My Income is not High Enough.” My response to them is always “What Income is not High Enough?”  These individuals are not aware that there 3 types of Income, which are Earned, Passive and Portfolio.  Most people are only aware of Earned Income, which is what they are referring to when they are complaining about their income is not high enough.  Here is the definition of the three types of Income:

• Earned Income – income you receive from your job or place of employment

• Passive Income – income you receive from royalties, real estate, intellectual properties

• Portfolio Income – income you receive from mutual funds, dividends, investments.

Earned income is income that you have to work for it does not work for you.  If you want to establish streams of income that can work for you and you not work for the income.  It’s important to work towards building Passive and Portfolio income.

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