Passive income vs Active income: Which should you go for

[King bell]

There are two types of income: active and passive. Active income is earned through active work, such as a salary from a job. Passive income is earned through inactive work, such as investments.

So, which should you go for?

The answer depends on your goals and lifestyle. If you want to earn a lot of money, active income is the way to go. If you want more free time, passive income is the way to go.

Here's a more detailed look at the pros and cons of each:

Active Income

Pros:

-Can earn a lot of money

-Can be more control over earnings

Cons:

-More time needed to earn money

-May require more effort

-May be more stressful

Passive Income

Pros:

-Can earn money without working

-Can have more free time

Cons:

-May not earn as much money

-May be less control over earnings

 

[Mika]

When you have an Active Income, you sure have control over your earnings because you know how much money is coming, however, I don't think you can earn a lot of money. When you have Passive Income, you sure have more free time, but "making money without working" is a half-truth. Passive income means, you have worked hard in the past to create this product or income stream and it is giving you a return in the present and might continue to give you a return in the future. Going for a job is an active income, for general people, it is very difficult to climb the corporate ladder and draw a huge salary and other perks to become rich. Creating an eCommerce store that works on auto-pilot can be a positive income source, you work hard to create your store, work hard to get it ranked high on a search engine, and then sit and watch profits grow. This also does not happen easily.

 

[cmoneyspinner]

Passive income versus Active income? GO FOR BOTH!! I have certain work-at-home projects that generate passive income. While that's going, I am actively engaged in earning income. Why? Because I'm at home all day and it's boring just watching television. LOL. Seriously! I can not be in the house all day doing nothing! For the sake of my sanity I had to find something to do. So I figured I might as well find something that can generate income. Passive or Active. It's all good!

 

[samual]

I will go for both passive income and active income cause the goal you are to gain is to make money While working and after working.

 

[maywarren]

You have to go for passive income. I say this from my personal experience.

 

[Suba]

To be able to determine the choice of passive income or active income, of course we must describe these two topics of discussion. First, you can earn active income by working or being an employee in either a private or government company, and you can also get active income from being self-employed or becoming an entrepreneur, trader. Second, you can get passive income by becoming an investor in property, stocks, crypto, etc. or passive income you can also get by becoming a business owner, you only need to control it every week, like if you have several barbershops scattered in various places and cities. Even though both are very profitable, if viewed from the perspective of prestige and dignity of a person, active income dominates, because you will be more appreciated and respected by people you know if you have a high position in both the government and private companies.

 

[LoukiaCharilaou]

In my opinion, passive income is a dream for most people. This is because it is wonderful to earn money without making any special effort or while sleeping. You can earn passive income through investments mainly. However, in order to enjoy these passive earnings, first you have to work hard.
On the other hand, active income is earned from your salary. This is the traditional way to earn some money. Both ways are welcome but I would definitely go for passive income.

 

[ShaSmith]

Very hard to find passive income I'm still on the search but I am doing quite a bit with the paid surveys

 

[NileVan]

In my opinion, I will definitely go for passive income. Many people want to travel around the world, but most of them lack money and time. It is impossible to travel around the world with the active job, because the holiday is limited. However, if we have enough passive income, we can do whatever you want.

 

[midnightcobras]

I vote for both... I go to work every day, but hope to improve my passive income with crypto. For example this project WEIcrypto has a cashback when you pay with it. They haven't launched it yet but I'm waiting to try... Any other crypto passive income recs?

 

[Mastergp]

Well on my own part, active income would serve more purpose than passive income because it is my career job and in active income salaries or income may increase due to promotion, but this may be lacking in passive income because it does not usually required much hard job in order to benefit from it.

Well many people would go for passive income because it does not require much time and effort. The could stay any way to make money either at home, club, mall, eatery etc
But those that use active income require more effort, time and commitment to achieve ones benefit and in most cases they are paid mostly on the hard work u put, in some online money making forum way one survey what is mostly require is data and not hard work so I will prefer the both because passive helps at most cases to support my active income, when active income is lacking for example payment of salaries are with hold active income come in to play and could serve more purpose, some times retirement could result so most retired workers could benefit from this form of income. So both active and passive are needed and serve huge purpose.

 

[Jasmine]

Passive income does not come out from the thin air. You will have to work actively for months, even years before you can actually build passive income. Actually, a lot of active income will become a passive income source later on. For example, you start a youtube channel. You work on your channel for months, years, and manage to publish hundreds of videos, hundreds of thousands of subscribers and tons of views. Once views start building, your channel will start generating passive income. However, in order to reach there you have already worked actively for a long time. You work on a job, it is an active income. You save money and you use your savings to make an investment. This will allow you to earn passive income. Therefore, you literally built a passive income source through your active income. You cannot immediately build passive income, you need to work actively first.

 

[isaacking005]

I'd say Passive income
Income from passive sources is widely desired but sometimes misunderstood.

Investment up front and a lot of nurturing are necessary for passive revenue streams in the beginning. These income streams begin to develop with time and effort and can sustain themselves, delivering you continuous money with little work on your side.

Speaking from personal experience, incorporating passive income streams into your portfolio can significantly boost your income and help you reach your financial objectives. For instance, starting with real estate with Fundraise for just $500 will help you achieve your other goals and increase your income.
For instance, you can employ passive income sources to hasten your financial independence or assist you in paying off debt.
Adding sources of passive income to your life can give you more money, freedom, and flexibility.

 

[Zulfi369]

Surely, earn passively is a dream everyone likes to dream about. Just think about 9 to 5 life scenario where you are compelled to fulfill the dream of your boss but get a fixed tiny return at the end of the month barely enough to sustain with everyday living expenses. But if you can put your best efforts to build an online business even without any investment which is quite possible, you can reap your earnings for the rest of your life. Is it possible? You say---yes, it is possible. Just stay focused and take action.

 

[Femixx]

There are two types of income: active and passive. Active income is earned through active work, such as a salary from a job. Passive income is earned through inactive work, such as investments.

So, which should you go for?

The answer depends on your goals and lifestyle. If you want to earn a lot of money, active income is the way to go. If you want more free time, passive income is the way to go.

Here's a more detailed look at the pros and cons of each:

Active Income

Pros:

-Can earn a lot of money

-Can be more control over earnings

Cons:

-More time needed to earn money

-May require more effort

-May be more stressful

Passive Income

Pros:

-Can earn money without working

-Can have more free time

Cons:

-May not earn as much money

-May be less control over earnings

There should not be a question about which of this is better. An active income ensures you work till you die and as we grow old so is our ability to engage in productive activities hence a reduction in income. However, a passive income guarantees you lots of advantages. Here your money is working for you and you have all the time in the world to engage yourself profitably.

 

[Inemesitjoe]

Very hard to find passive income I'm still on the search but I am doing quite a bit with the paid surveys

Which one are you doing because I need one I have a girl to marry am tired of fornication

 

[Suba]

Hello @Inemesitjoe Passive income is not sought but created, either gradually or all at once, first you have to keep working both online and offline to get the main source of income, second save, third invest by buying government bonds or stocks. do it over and over again so you can achieve financial freedom.

 

[Yugocean]

Passive and active incomes are not opposed to each other, but complementary. Everything, no matter what, always starts with the active ways, and while being actively taking care of it, it comes to the passive where you don't actively earn, but income keep coming to you due to the activity that you had done.
A common example is that you work somewhere - this is your active source, now you put your salary in the bank, the bank will give you interest - this is your passive income, in addition, when you retire, you will get pension - this is passive too.

 

[Chibson]

Most people who started making money passively today actually started as active income earners whether it was online or offline.

You need to make money actively before you can be able to invest in funds that would give you passive income on the long run. One good thing about active income is that it will give you money faster than passive income.

It is therefore advisable for people who are looking for ways of making money on the internet to start making money actively first before they start looking for passive income opportunities.

It is true that they have their pros and cons but the both of them need each other to survive on the long run. one thing I like about making money passively is that you make money even when you are asleep.

That is the reason why I am trying as much as possible to venture into Amazon Kindle publishing because it is one of the best passive income streams on the internet currently.

If you are able to publish a lot of books you can be making money even when you are sleeping.

Blogging is also another good passive income stream that would actually fetch anyone so much amount of money if you succeed in it.

 

[Ithedicious]

Both of them are profitable and will present a better opportunity for anyone to make money but as the poster has said some of them comes with its own advantage and disadvantage.

Personally if I am looking to choose from any of them I'll definitely go for a passive income because the advantage in passive income to me is much more than that of an active income even though both of them can generate reasonable amount of money if done properly.

One thing I like about passive income is that it gives opportunity for people to focus on so many things at a time and passive income earning opportunities are not always stressful when everything has been set up properly.

The only disadvantage is that setting up a passive income scheme is not always an easy thing and may require a lot of your time and sometimes so many people are not always successful .

 

[Fardage]

Active and passive both inlets are important for becoming a wealthy person. There must be one source of active income and one or two sources of passive income. My passive income comes from fx! It is great and you can get the wheels rolling in as early as six months.