1 year, 8 months ago
What is passive income?
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M$1 Answer
The definition of passive income is "Passive income is an income received on a regular basis, with little effort required to maintain it."
en.wikipedia.org/wiki/Passive_income
What this means is that passive income is something you get paid for that you are not really putting any time or work into to get. For example, royalties could be considered passive or residual income, I guess depending on the amount of work you put into it. If I put up a ghost written article on a site that I have full rights too, and earn 50.00 a month off it, that would be passive income. If I put up the money to produce a record, but didn't do any of the work, that would be passive income. Perhaps you are an independent rep of a direct sales company, yet you contract all your sales out to "helpers". You earn off your helpers work.
There are many examples, like my parents inherited some land that is in the soil bank program. They earn 4,000 a year from this land. That is passive income. Basically something that earns you money, that you have done much to earn. Passive and residual income are great.
en.wikipedia.org/wiki/Passive_income
What this means is that passive income is something you get paid for that you are not really putting any time or work into to get. For example, royalties could be considered passive or residual income, I guess depending on the amount of work you put into it. If I put up a ghost written article on a site that I have full rights too, and earn 50.00 a month off it, that would be passive income. If I put up the money to produce a record, but didn't do any of the work, that would be passive income. Perhaps you are an independent rep of a direct sales company, yet you contract all your sales out to "helpers". You earn off your helpers work.
There are many examples, like my parents inherited some land that is in the soil bank program. They earn 4,000 a year from this land. That is passive income. Basically something that earns you money, that you have done much to earn. Passive and residual income are great.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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