One Click Buying| Online Products|The Real Estates|Skilled Courses|Business|Bezos Earnings

Jeff Bezos Earnings

How much do you think Jeff Bezos makes per day? A hundred thousand dollars? How about a million dollars? A million dollars a day means 365 million dollars a year. But in 2019, Bezos earned 39.2 billion dollars, which means, if you divide it into the number of days in a year, that will amount to 107 million dollars every 24 hours. Isn't that insane. But that's not by accident because rich people are focused on buying assets.

In fact, some people are in so much debt that they get poorer every day since interest is so high. 

One Click Buying

In 1999, Jeff Bezos filed a patent for a method of ordering items online. It's called One Click Buying. It's a technique that allows the customers to make a purchase with the payment information that they have used previously and saved.

 In other words, Instead of manually inputting billing and shipping information for a purchase every single time, a user can use one-click buying by using a predefined address and credit card number to purchase the item. When you buy an app from the Apple Store, you don't re-enter your credit information.

 You simply double-click on the side button and the software will automatically use your saved credit card. And until 2017, apple and every other company that used this technique paid a small royalty to Jeff Bezos for using his innovation. It might sound silly to you, but that's how the world works.

 In order to encourage innovation, governments have set up a system of patents. Since you have worked so hard to innovate a new product or a service, you will be granted an exclusive 20-year patent where no one is legally allowed to use it except you or the people you have given permission.

 Skilled course

 It's not an asset in the traditional meaning, but it is in many ways. Having a skill that's always in demand is a constant stream of income, even if that takes some of your time. 

Take an example of surgeons, it's a highly complex skill that requires years of education and training, however on the other side it means, there isn't much competition and means that you can charge a premium for your service, that's why a lot of surgeons are actually millionaires since they are paid generously. Of course that applies to other professions such as lowers, physicians and so on. 

However, with the rise of the internet, skills such as coding, online sales, and programming languages are becoming vital and can be self-thought at home. It's a perfect option for those who are at the beginning of building their wealth. If you don't have enough to invest in the stock market, you can invest in acquiring more skills that would potentially generate much more in the long run.

Online Products 

 Like Music. Is super difficult to come up with good music. However, once you do it, it can continuously generate income. Take an example of Eminem; for the past 20 years, he has been at the top of the music industry. He has released, such as I am not afraid, is still listened by lots of people across the world even though it was released back in 2010. A However the introduction of Spotify and Apple Music, the artists have gained extra streams of income. However, you are not limited to music. 

Online products are becoming more and more popular such as courses, presets, apps, software, and a lot more.

Businesses

The best investment you can ever make is in a thriving business. What makes a business different from all other assets is that it constantly produces something, be it a service or a product. They constantly improve their products or come up with new ones to stay ahead of their competitors.

Having a stake in a valuable business is the best way to keep growing your wealth and generate cash flow. Of course, for most people, that's not an option because buying a piece of a business simply too expensive, even if we are talking about a corner shop. However, the financial system we have built over the centuries is so advanced that businesses are broken down into millions if not billions of small pieces which allows almost anyone to own a tiny slice of any multibillion dollar company by investing in the stock market. If you want to know more about the stock market, check out our video on how to buy a stock which link y

  The Real Estates

Which is probably most peoples favorite type of asset. And that's not by accident, you can touch it, feel, and it fulfills one of the basic human needs - shelter, which means there is almost always a demand for it.

Rental property is probably the best passive income asset you can have. Of course, that doesn't mean it doesn't require any hustle and capital, but it's manageable to a certain degree. What determines the quality of real estate is its location. Quite often, if it is placed not in the most suitable location, it can turn into a huge liability where you can't rent it out but still have to pay the utilities.

 I personally know people who have inherited properties where they don't want to live but also can't rent out since it's not a popular destination, but they still have to pay the bills to keep the house free of debt. However, if it's in a desirable place, it will easily get rented out even if it's not in the best condition. But you know what's a much better asset than Real Estate.