How To Choose A Passive Income Stream

Do you ever wish you could make money in your sleep? With passive income, it may be achievable. That’s because passive income doesn’t associate hours worked with payment received, so you can front-load the work and then watch the money come in with minimal maintenance.

 

If becoming financially independent is a financial goal for you, you may be interested to know that 65% of self-made millionaires have at least three streams of passive income. Whether you make money through business ventures and partnerships, real estate and rental properties, or dividend-paying stocks and mutual funds, passive income is crucial for maximizing income.

 

When deciding which passive income stream is right for you, consider the main two requirements: time and money. Which do you have more to give? If the answer is time, consider blogging, affiliate marketing, or writing an e-course. If you have more money than time, you could invest in real estate or peer-to-peer lending.

 

Not sure where to start? This infographic from Lexington Law makes it easy. Build your source of passive income and be on the path to financial independence.

Please include attribution to lexingtonlaw.com with this graphic.

How to make passive income

Elita Torres

I have over 20 years experience as a leader, first as a General Manager for several Big Box retailers with over 100 employees, then as a district manager overseeing an average of 23 stores. Currently, I am a Sales Director overseeing 4 Districts. My passion for leadership and personal development has led me to share my journey in a Blog. Find out more on http://www.leadgrowdevelop.com/about/