While passive income has been loosely defined since it’s inception, the idea is that passive income refers to money that is regularly earned with little or no effort.
Popular examples include money earned from
stocks, interest, retirement pay and rental property.
Many work-from-home type companies also throw the term around. With the age of the internet business, many people are also creating passive income in the form of affiliate sales, niche sites and product sales. There are also new ways of investing, including peer-to-peer lending where you invest into loans you then earn interest on.
Although the term “passive income” has gotten a bad rap over the years, it’s important to note that creating passive income can be done successfully. In fact, incorporating forms of passive income into your financial plan is a great way to work toward financial independence or simply supplement your current income.
The more you can . . . → Read More: 3 Steps to Creating Passive Income in Your Life