10 Ideas For Generating Passive Income

10 ideas for generating passive income

A couple of days ago I published a post explaining what passive income is and why it’s important to me. Please check out my previous article if you want an intro to passive income. Otherwise, if you’re ready to read about 10 great ideas for creating your own passive income streams, let’s dive right in!

I’ve been reading a lot about passive income recently and it’s becoming clearer and clearer that generating multiple passive incomes streams is the only path to financial freedom. As a result, I’ve been scouring the internet for the best, easiest and most effective passive income ideas. These are my top 10. I haven’t tested all …

Why You Should Care About Creating Passive Income

Why you should care about passive income

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 …