What is passive income?

Published by Uday Jethva on

Hello! It may seem strange to many, but you can make money without doing anything, in the truest sense of the word. In the 21st century, money can come into your account even when you sleep, relax, pursue your hobbies or work on projects. In many ways, this state of affairs can be ensured by passive income, which is generated automatically, without your participation.

Passive income strategy

Income that is credited to your account without your participation and direct activity aimed at extracting and receiving them are considered passive. These incomes include cash receipts from assets created for the purpose of generating income.

It can be a business that works without your participation , real estate that is rented , royalties that are paid to the author for his published scientific and literary works. This is not a complete list, there are many other assets that can consistently make money. In the future, I will gradually talk about them on the pages of my blog.

It is generally accepted that passive income is not capable of providing a decent life. On the contrary, a properly created source of passive income can give its owner a lot of advantages. Free time and an additional source of income are just a few of them. The amount of such income can always be different and mainly depends on the scale of the previously created asset. The same can be said about their regularity and consistency.

Many are interested in how to create passive income. There are several proven ways that I use myself: create assets and work for myself . The latter is especially true when there is not enough capital to buy and create assets. It is actually a long process that requires careful preparation and planning.

More importantly, passive income is an integral part and component of financial independence. It is passive income that is the source of financial independence and human freedom. These incomes do not depend on daily work activities and their unlimited size, in contrast to the salary, allows the owner to lead a fairly free lifestyle.

Robert Kiyosaki speaks a lot about passive income in his works. I highly recommend reading at least a few of his books on this topic. In fact, they were one of the first sources of information that I used to create my assets. But, unfortunately, I can say that his techniques, in their pure form, are not very applicable in our reality. They need to be constantly adapted and modified, altered for themselves, so to speak.

In general, with such income it is convenient to build your life and plans. You know perfectly well that you have several sources of passive income and this fact constantly encourages you. You know that you will not be left without money at the right time, that your salary will not be delayed, that everything is going as you planned. It’s especially great when they are regular and you don’t have to look for an opportunity to constantly make money by getting up early for work, even while running your own business. So I highly recommend that you acquire such income, in addition to your main sources, as they really make life easier and open up new horizons for anyone!

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