News What is Passive Income

What is Passive Income

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If you have been looking for a way to make money from home then you have probably come across the term passive income a time or two. If you do not know what is meant by this great earning opportunity then you are in for a treat.

The answer to what is passive income is not as simple as some might think. There are many different ways that you can earn in this way that are all legitimate. It is the general idea or back bone to the way that the cash comes in that is the same in all.

Passive Income Is

What is Passive IncomeThe basic idea is that you build a system or business that keeps generating money for you on a monthly basis with little to no work from you after the initial setup. This means that you work hard to build your business to its full potential. When this is done, you can go spend more time with the family or work on your hobby. A small bit of maintenance from time to time is all that should be needed from that point out.

What It is Not

This is not a way to get rich quick. If you are looking for that then keep looking. There is no magic button that will get the money flowing into your bank account. The best sources of passive income usually take time to build up to their full earning potential. You will need to be patient.

Passive income is not a job. There is no guaranteed money that you will make every month. It is a business and should be treated as such. You are investing your time and hard work in hopes of great rewards. This is the nature of this great money making opportunity.

Now that you know what passive income is, you are probably wondering if it is for you. Well answer a few questions. Would you like to spend more time with your loved ones? Do you wish you had more free time for your hobbies? Are you willing to put some work in now to get your freedom down the road? It you answered yes, then you need to take the next steps to building passive income for yourself!

What is Passive Income
General Contributor
Janice is a writer from Chicago, IL. She created the "simple living as told by me" newsletter with more than 12,000 subscribers about Living Better and is a founder of Seekyt.

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