What is Passive Income? Is it Enough for Living?

 

Passive income is money you earn that doesn’t require you to do a lot of “active” work to continue making it. In essence, you can do most of the work upfront and put some additional effort along the way to earn an income.  

For example, if you create an online course, you just need to update its content to keep the money flowing.

You’ve probably heard the expression, “make money while you sleep.” That’s the biggest draw that entices people to earn passive income. 

You can create something (a blog, course, ebook, videos, or an online store) that generates money even when you’re not working. Or you can make passive income investments (property or stocks) that allow you to earn passively. 

Click here if you would like to start online passive income today.

Active Income vs. Passive Income – Which Is Best for Me? 

In theory, all of your income sources carry similar weight. But when it comes to achieving financial freedom, passive income leaves active income in the dust.

You see, active income is the money generated from all those efforts you’re currently making. And you need to keep working in order to continue earning an income. If you quit, you don’t get paid. Your time literally equals money.

And then you have passive income. An income that doesn’t require you to work actively. And the money continues to flow in for years and years. If you’re looking to design a dream life where you are financially free, it might be better for you to focus on passive income.

Just remember, while you might be able to build a passive income stream with a small investment, you’re not making any less of a commitment than someone investing their time. Making passive income comparable to income earned from active efforts requires a good amount of work upfront.

How Much Passive Income Can I Earn? 

You can make as much or as little passive income you want. However, it’s not a get-rich-quick scheme. You’ll need to put in some hours, effort initially, and capital to create a passive income source. 

The good news is that nailing these things early allows you to sit back and enjoy the financial rewards for years to come. 

You may invest as little as $100 in the beginning, then reinvest your profits until your passive income grows to a sustainable figure. With a high recurring income, you can make enough money to live off of.

Click here if you would like to start online passive income today.