A lot of passive income money comes from something that you have created once and are selling many times over.
The ideal example is a book that you have written. You are now selling the book and don't have any further work to do to earn money from it.
Another example is renting out property. This might not be seen as truly passive as you have money invested in the project and there is also the fact that the property will need routine maintenance, so more 'work' is involved.
Read my article here: Passive Income - The Basics
There are many examples of passive income. Some may only make you a small amount every day, but if they are regular, they can add to an ever growing stream of income that will eventually set you free from work.
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ReplyDeletePassive income is quite simply regular money you get from something without having to work for it.
A lot of passive income money comes from something that you have created once and are selling many times over.
The ideal example is a book that you have written. You are now selling the book and don't have any further work to do to earn money from it.
Another example is renting out property. This might not be seen as truly passive as you have money invested in the project and there is also the fact that the property will need routine maintenance, so more 'work' is involved.