What is passive income and why should you care?

[King bell]

Passive income is a type of income that doesn’t require much effort to earn. It can come from investments, such as dividends from stocks, interest from savings accounts, or rental income from property.

Passive income is a great way to earn money without having to work hard for it. It can help you to achieve financial independence and to live a comfortable life.

There are a few things to consider before you start earning passive income. First, you need to make sure that your investment is diversified. This means that you should not put all of your eggs in one basket.

Second, you need to have a plan for what you will do with the money you earn. This will help you to stay disciplined and to avoid spending your passive income on unnecessary things.

Last, you need to be patient. It can take time to start earning passive income, but it will be worth it in the end.

 

[Ithedicious]

Thank you for the simple definition of a passive income. Since it is an income that may not really require as much effort to make, then it is something that a lot of people are very much willing to have as their source of income because it is stress-free and gives people a lot of time to also engage in other things that can still be profitable to them in the future..

In as much as everyone are looking for opportunity to make money passively on the internet , but we also have to understand that it is not everyone that will have opportunity to have a passive source of income because the stress and what will take for people to earn money passively on the internet is not always an easy thing and not everyone will be willing to take that risk that could possibly liberate them from financial difficulties .

 

[moonchild]

Passive income is a sort of income you don't have to actively work for, it's money you make without actively being involved, think about an artist that produced w a hit song and out it on a streaming app, whenever that song is being listened to he gets paid, but he only put in effort once.

You should care about passive income if you're looking forward to independence or freedom, if you're not earning passively then that means you still work for it and your time is tied to how much money you make, it's important to explore passive income sources and try to build one

 

[SHAHID123]

Best passive income I ever adopt is apartment rental business, in my early age I purchased an apartment and then given it on rent. Nothing I was need to do for it, no need to go there to do something except my monthly one visit there with happiness and which was to collect monthly rent. I did this for more than three years and after then when I sold my apartment then I got double profit, because during 3 years the property prices were increased too much.

 

[tray59]

Generating passive income I very good in fact I see it as sure way to bypass financial obstacle so for this measure I believe that when you get up plan and know what you like the most go into a nich that you have knowledge about, chose what you are passionate about and as per this I think you will be able to succeed generating a passive income need you to have patience but with time you will be able to get alot of success and have financial backup you need to attend alot of seminar and webinar to see what others do,

 

[Mika]

You go to your office and spend 8 hours working. Or you work from home and work for clients for 8-10 hours. Both of these methods are active income. Active income means you work actively and make money. Passive income on the other hand is an income that you generate without working actively. Let's say you published a book and this book draws royalty on a regular basis, or let's say you bought some stocks and these stocks give you dividends. These are passive income.