3 Passive Income Ways to Create Wealth in 2021
But deep down inside of you, you know you’ve always wanted more. More money. More freedom. Greater flexibility. So you finally decide it’s time to take action.
This post breaks down 23 ideas on how to earn passive income while maintaining a full time job. You can finally get what you’ve always dreamed of.
Unlock the guidance, tools, and resources you need to design your best life live longer. Every. Single. Day.Passive income is money you earn without doing a lot of Active work. Essentially, you can do most of the work ahead of time and then put in some extra effort along the way to get paid.
For example if you create an online course
You only need to update its content to keep the money flowing.
You’ve probably heard the phrase, Make money while you sleep. this is the biggest draw for people to earn passive income.
You can create something (blog, course, ebook, video, or online store) that makes money even when you’re not working. Or you can make passive Sales Marketing Directors Managers Email Lists income investments (real estate or stocks) that allow you to earn income passively.
Active income vs passive income which is best for me
In theory, all your sources of income are weighted similarly. But when it comes to achieving financial freedom , passive income leaves active income behind.
You see, active income is the money you are currently generating from the efforts you are doing. In order to keep making money, you need to keep working. If you quit your job, you don’t get paid. Your time is literally equal to money.
Then there is passive income
An income that doesn’t require you to actively work. The money will continue to flow in year after year. If you want to design your dream life if you are financially free, you better focus on passive income.
Just remember that while you can build a passive income stream with a small investment, you’re not making any less commitment than someone else investing their time. Making passive income comparable to active income requires a lot of upfront work.
The most popular source of passive income CRB directory tends to come from blogging. Blogging has helped countless entrepreneurs make money passively through affiliate links, courses, sponsored posts, products, book deals, and more.
Desirae odjick, founder of half bank , explains. I start my blog to make it easier for people to talk about personal finance, and as part of that I tend to share a lot of personal stories. They usually include tools I’m using and things I’ve found helpful tools, so adding affiliate links was a natural transition when I joined the programs for these companies. I’ve been covering personal finance on my blog for almost four years now, and as people discover my articles and start to straighten out their financially, these links are reliably bringing in four figure income per month I think it’s great to recommend them as I personally use all of my affiliate products.