Passive income ideas do require an upfront work to earn, like writing an e-book, building and monetizing a blog and some don’t take any physical effort at all, such as investing in stocks or real estate. Passive income has been loosely defined as money that you earn with the least or zero amount of effort. People often associate passive income with dividends, interest as well as lottery winnings and capital gains from real estate. Passive income or residual income can also be derived from a business where you do not have substantial investment in terms of labor.
It’s easy to see why people like the idea of passive income. You are able to do the work once and get that passive income forever. Passive income is the opposite of how most of us earn a living. Passive income is at its core passive, money that comes in without much work on your part. The question for many is how to earn a real passive income. What does it take to earn passive income? What are legitimate strategies for earning a real passive income? Let us answer all these questions and discuss some of the best passive income ideas that can be used to make more money or build wealth.
Archimedes made the comment, “Give me a lever long enough and a fulcrum strong enough, and I can move the world.”
