Passive income is money that is usually (but not always) earned on a regular basis with little or no effort. What’s so fascinating about this? Everyone strives to create passive income so they can retire wealthy and live a fulfilling life.
There are different types and degrees of passive income. Making money while you sleep is just another fancy term for passive income. By establishing a variety of passive income sources, you can regularly earn substantial amounts of money from work already done, such as book royalties.
Passive income is simply not an option for most people, as it usually takes money to make money. It’s like owning a second rental home, owning a book that continues to sell well, or anything else that most people can’t get their hands on.
A few ways to make passive income:
- Rent out your house, or your second house
- Royalties from written work or music
- Ad-revenue from your blog or YouTube channel
Although passive income sounds great, if you’re reading this, you’ve probably got a better chance at making money from working, than spending your time trying to create passive income.
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