Before I show you some quick steps to generate passive income, let’s agree on one thing?

Life is drama. Whether it’s your income just soaring (that will happen if it hasn’t yet in IT and other industries too).

Or your wife leaving (hopefully, that won’t).

Careers flop. Or a child with a brain tumour. Or key investors leaving. Numerous deaths inc. losing my father to Covid. Or an accountant not telling you that you are going to pay millions in taxes unnecessarily.

Yes, all that happened to me. And maybe you have had an even more colourful life.

Well, for most of it, that’s just life.

But the millions in taxes, lost? THAT didn’t have to happen. THAT’s the reason I got into this business. To STOP THAT from happening to others. In hindsight, nothing felt dumber than becoming a finance director – just to lose millions in taxes.

 Except perhaps spending hours on Tinder looking for a date, post-divorce?

 So, allow me to take the horse to water, with some dry humour, so you don’t sleep through the whole tax piece!

 

After sifting through a mountain of passive income strategies, because apparently, we have nothing better to do, we’ve pinpointed a few important patterns. Shocking, I know. Not every strategy made the cut because, let’s face it, some ‘income strategies’ are about as effective as an ejector seat on a helicopter. A few of these gems will have you raising an eyebrow in intrigue. The rest? Well, they’ll have you nodding off faster than a lecture on the history of watching paint dry. Unless we channel your inner Picasso.

 

Your mind, your loss:

 

Seems like you’ve got to drink the Kool-Aid before you even see the pitcher. It’s a classic case of chicken and egg meets Catch-22. If the choir’s not singing from the same hymn sheet, believing this whole operation is the next big thing, they won’t even lift a finger. And if they’re all talk and no action, well, surprise, surprise, nothing happens.

Then they’re sitting there, scratching their heads, wondering why their ‘guaranteed success’ was a no-show. Working harder than everyone else on the team, becoming management – only to have the ATO take away most of your pay rise?

So, yes, believing is half the battle. The other half? Starting so small you’d need a microscope to see your progress. Unless you buddy up with the guru who’s been around the block, and maybe shoot the breeze with someone who’s “seen it all”. They’ve got the maps for the minefield you’re about to saunter gleefully through.

 

 Going full Dora the Explorer on this one:

 

You need a map, and not just any map, but one that’s got more personal touches than a custom Spotify playlist. Plus, you’re going to need that wise old guide, someone who’s seen it all, done it all, and probably has the T-shirt to prove it. But here’s the kicker: your map won’t look like anyone else’s. This sherpa of yours has to take your dreams, your nightmares, your craving for Kale juice, and somehow chart a course through Treasure Island. (Or is it Chadstone?)

 

We’re talking about crafting a bespoke roadmap for the most VIP client of all: you. Because let’s face it, nailing this passive income gig is more crucial to you than summiting Everest is to a mountain climber. It’s the difference between retiring with a yacht or, well, ‘retiring’ in a way that makes you the envy of absolutely no one. In the words of our enthusiastic Columbian sweetheart/drug lord, “plata o plomo”. Although I don’t think Escobar meant financial “gold” or financial “lead”.

 

Remember, the folks who’ve made a killing with passive income didn’t just stumble upon a pot of gold. They had a Gandalf guiding them through Middle Earth, dispensing wisdom, belittling cracks and probably saving them from a financial Balrog or two. Expert help isn’t just nice; it’s your ticket to the big leagues.

 

Start-Up Costs:

 

You’ve got to pay to play, or at least pretend to. This could mean shelling out cash for a piece of the real estate pie or pouring your heart into a masterpiece/portfolio that scores while you sleep. Remember, the first step to making money without moving a muscle often involves moving many muscles… and possibly emptying your wallet. Unless the tax system sends in the Tactical Response Team from hell. How about our snipers empty the ATO’s wallet for a change? We do this every day. Talk to us for find out how.

 

Set It and Forget It:

 

The dream is to make your bank account grow while you’re too busy doing… well, anything else. Automate your empire of delightful sloth with robots, apps, or someone else’s sweat so you can focus on more important things, like mastering the art of making Kale juice. Well, you are not really lazy. That sunset margie is not going to carry itself to your lounge chair after all!

*We do review and report on the assets and passive income generated for our client, monitoring and optimizing every year, so you don’t have to spend hours and hours doing the same.

 

Spread Out Risks:

 

Don’t put all your eggs in one basket. If one of your money-making schemes flops, it’s better to have a plan B, C, and D. Diversification is your safety net when your brilliant idea turns out to be less “Eureka!” and more “Oops.” Or at least have solid risk management and safety, if you are going to bring Donald to a vegan festival. Many execs in IT and other industries will lose millions in unprotected assets if something happens to them. As everyone knows, insurance only gets you part of the way there.

*If you don’t like the risk, you can always go for property plus one or two other protective tactics. But they have to be set up in such a way as it is mostly using tax dollars.

 Otherwise, your lifestyle takes a hit.

 

Creating Something Valuable:

 

Apparently, people need to actually want what you’re offering. Who knew? Your passive income should come from something that solves a problem, entertains, or otherwise enchants your audience into parting with their money. It seems even with our brilliant expertise on tap, you may still require a touch of genius.

For many of us non-geniuses, buying property under high efficient tax structures. That solves the housing problem. That supports government policy so, under the right tax structures, these give maximal tax discounts and refunds. Unfortunately, these are more complex than what most other accountants are willing to explain to their clients.

 

How To See Around Corners:

 

The art of passive income is like planting a money tree and waiting for it to rain cash. It might take a while, and you might start doubting if it’ll ever happen, but with patience and a bit of luck, you’ll hopefully find yourself in a money shower—just don’t forget to bring a bucket. Or a few trusts, SMSF’s and hybrids, unit trusts, a bucket company and a combination of a few other capital gains decimating weapons. Yes, best talk to the tax weapon experts i.e. us first.

 

But, you may decide to start implementing some of the advice at the top. Don’t!

If you had a brain tumour & and read a blog on how to how to give yourself a scalp massage – would you just do that & not talk to an oncologist? No? Then, as you have guessed >> talk to us first before attempting any of this stuff. Or it will indeed be financial “plomo” for you! This is general advice at best, if that.

 

In essence, the journey to passive income is about getting expert advice, investing upfront (either sweat or cash or tax dollars), setting up your money machines, spreading your bets or creating something people actually like, and then patiently waiting for your ship to come in—while preferably lounging on a deck chair and admiring the sea.

 

So, come join me, friend. The water is warm. The cocktails are refreshing. No kale juice – promise! Besides, only the bottom is crowded. Always plenty of room at the top. Passive income is definitely within reach for many. You’ve worked harder than most & you are now in a senior position, because you have earned it. So, fill in your details here to find out if you too can get some well-deserved passive income.