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.
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