1/8/2024 0 Comments Passive income 2021![]() To put it simply, passive income is indirectly obtained, such as interest from savings accounts or dividends from stocks. While you may have heard about these, plenty of people still don’t know their differences. No matter how you make your income, making money always falls into two categories: passively or actively. If you have money sitting in a savings account, you can instead put it somewhere where it will earn extra money, letting you invest in your future. If you already have an asset that you are not fully utilizing, that can serve as your investment. The good news is that you don't need a pile of cash to start your passive income stream. Since you're busy living your life, you want to build a passive income stream that eventually works while you sleep, play, socialize…whatever you want to be doing with your time. ![]() If you create something digitally–like a video or a song–and you get money every time someone views it, that's passive income. For example, if you invest some money and your investment increases in value, that's passive income. It is a form of income that builds you wealth even when you're not working. Passive income is defined as income that requires minimal effort to earn. It takes some investment of time, money, energy, or all three, but then the money just comes in, helping you pay off a student loan, dig out of credit card debt, save for retirement, or advance other personal finance goals.ĭo you want to get started? Here are 35 passive income ideas: What Is Passive Income? Passive income is money you earn even when you're not working. Most people think of income as something they have to do labor for, like going to work for a day and then getting paid. Making money while you sleep has a beautiful ring to it, and that's the idea behind passive income. Share on Twitter Share on Facebook Share on LinkedIn Share on Pinterest
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