Investments in the stock market, mutual funds, gold, real estate and other financial assets are some of the ways to create passive income.
Passive income can also be earned by doing activities such as developing online courses or affiliate marketing.
Passive Income
- What is passive income?
- What is the difference between passive income and active income?
- Without passive income, you may end up working for the rest of your life.
How to Create Passive Income
- There are two ways to create passive income.
- His Holiness Sanjay Kathuria explains skills-based passive income.
- Arpit Arora aka ‘AskTheWiseGuy’ talks about financial-based passive income.
- Real Estate, Mutual Funds, PPF, and investment in gold are all ways to earn passive income.
- Those with particular marketing skills can set up online courses and eCommerce stores or become affiliates and sell products.
- Using these methods, in two to three years, you can establish a solid stream of passive income.
- The goals for passive income
The following are passive income objectives:
- Supporting the expenses through passive income sources.
- Make passive income as valuable as active income, or greater.
- Financial independence is possible when passive income far exceeds active income. This allows a person to live life on their own terms.
- Passive income can be earned through investing in stocks depending on either your finances or your skillset.
- Work towards a level of financial freedom that enables you to easily cover your expenses without breaking a sweat.
