Hey folks today here I will tell you what is passive income and what are the different ideas by which you can create your passive income.
Basically passive income, also known as residual income,is money or income you earn while you’re not actively working.
Instead of trading your time for money like mostly all people do at their 9 to 5 jobs passive income is all about tickle in even while you’re not there.It means you have automated like you are earning while you are sleeping.
Passive income is also taxable income its not like you think it is not taxable.
Lets undertand more about passive income , we have three types of income
Income that in earned where you are working actively.
It can be your job or business where you are active .
It’s the income which you earned where you are not active ,In this firstly you have to invest both time and money at the initial stage .
When your business is automated then you don’t have to work .
Most popular ideas of passive income are following
- Rental properties: In this idea you have to rent your property and can earn money.
- Stock/divendends: You can also earn by investing in stocks , warren buffet is one of the legends who earn by investing in stocks.
- Mobile application: you can earn by creating a mobile application .Google will pay you for the advertisement if you qualify the eligibility.
- Invest in real estate: Investing in real estate in one of the high paying business.
- Sell courses: you can create academic course and sell that course in different platform like udemy .
- Affiliate marketing : If you have a good number of follower / visitors than you can en-roll in affiliate marketing and can earn from that.
These are some information about the ideas if you want to learn in details then go through the website thoroughly.
In last I want to tell you that its not easy to earn ,you have to work hard ,its like you have to work for 5 years for enjoying the rest of the life .
Most of us think in this we don’t have to put effort ,no my friend in this you have to put more efforts then your 9-5 jobs for initial .