Passive income is a type of income that is acquired with minimal labor to earn or maintain. It is often combined with another source of income, such as regular employment or a side job.
Passive income can be your only income if you can produce enough versions of passive income.
Rental income is considered passive income even if you actively engage in the maintenance of the rental property. Rentals are end-game goals, though. Let's not get sidetracked from the immediate need.
Blogging - blogging is one of the most popular forms of passive income; however, it's not the most profitable or even the most successful. You can start a blog with an official domain name and monetization capabilities within 24 hours, if you're dedicated. Seven days if you want time to plan it all out and do it correctly. Pick a topic, preferably something you enjoy talking/writing about.
Book Publishing - Do you have a knack for typing? E-books are the future, and the best aspect is that nobody is exempt from writing! If you have a creative mind, a story to tell, and a keyboard to type on, you can easily self-publish your book online. You'll also want to self-promote, which means consistently posting on social media and engaging with current people you know to purchase your book. If you can create wild stories out of thin air, writing fantasy novels may be right up your alley! With today's technology, anyone can produce professional results. Downloading Grammarly will help you achieve a concise, cohesive, coherent book that readers everywhere will love!
Come back tomorrow for more awesome passive income ideas!
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