Passive income is a type of income that is earned with minimal effort or active involvement. It is often referred to as "making money while you sleep." Passive income streams can be a great way to supplement your income or even replace your traditional income.
There are many ways to generate passive income. One of the most popular methods is through investing in stocks or real estate. These investments generate income through dividends or rental income, respectively. Another common way to earn passive income is through creating and selling digital products, such as eBooks or online courses. Affiliate marketing and advertising revenue from a blog or website can also be a source of passive income.
The key to generating passive income is to create a sustainable and scalable system that requires minimal effort to maintain. For example, if you are generating passive income through rental properties, you will need to ensure that your properties are in good condition and have reliable tenants.
Conclusion
There are many ways to generate passive income, including investing in stocks or real estate, creating and selling digital products, and affiliate marketing. To create a sustainable and scalable passive income stream, it's important to invest time and resources upfront to create a system that requires minimal ongoing effort.
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