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What is passive income?

  • Passive income consists of regular earnings from a source other than an employer or contractor.

  • Adding passive income streams to your portfolio can help you increase your income and accelerate your financial goals in a tremendous way.

  • It is always better to have income coming from multiple places so that we can constantly stay afloat if one source of income dries up.



WAYS TO GENERATE PASSIVE INCOME:


  • Start a blog or an online business

  • Write and publish an e-book

  • Create an online course

  • Affiliate marketing

  • Develop an app

  • Real estate rental income

  • Invest in the stock Market

  • List your properties on Airbnb

  • Invest in a business


INGREDIENTS OF PASSIVE INCOME


  • An upfront investment + An investment of time and money

  • All means of passive income require at least one of these two elements.

  • After some time, these income streams would start to maintain themselves and bring you consistent revenue without much effort.


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