An Intro to Passive Income, Popular Ways of Getting It and the Mindset You Need to Start Creating It
Most of us have a job where hard work is expected and necessary. We offer our knowledge and/or labor to the company we work for in order to get recognition, satisfaction and compensation in return. Although this is the way most people make money, the minute we stop working, the income stops. On the other hand, a popular idea that’s been floating around the internet is passive income. The idea of it is that money is being earned with or without our involvement. Once it’s set up, the recurring income will come continuously. Anyone can quickly see why this idea is popular. Here are three extremely good advantages: Provides Freedom If your passive income is higher than your living expenses, then you free yourself from the daily grind of working for someone at least 8 hours a day. You can enjoy your life and do what you want, while earning enough money to sustain your lifestyle. Offers Diversification To borrow a popular term from investing, passive income provides diversification. ...