What is passive income?
Passive income is just that – passive. It’s money that arrives in your bank account with little or no ongoing effort from you.
Classic examples are interest on investments, or profits from book sales. In the latter example, you only have to write the book once, but if it sells well, it can carry on making money for you for years.
This is basically the opposite of a traditional job, where you exchange units of your time (hours, days, years) for a fixed unit of money (your hourly wage, day rate or salary). If you know how to create passive income streams you can sit back …