Passive income. The Holy Grail of online marketers. We all strive to create multiple streams of passive income to live our dream of financial freedom and no time constraints. The big question is what are the absolute best online passive income opportunities?
There are thousands of articles out there giving you different ideas to create passive income. Some may work but many don’t. That’s because they give you the ideas, but don’t show you how to proceed.
So why listen to me? Because I not only found methods that work but also found the best platform to learn how to build them. And if it works for me, it can work for you too. It all starts with having your own online business.
You see, even though I knew how to use the internet for information, shopping and paying bills, I had no idea how to start my own online business. I picked up snippets here and there, but all that did was overwhelm me. I ended up quitting on the idea of having my own business. Oh, how I regret that now.
Today, I want to share with you the types of businesses you can build to create passive incomes. And then I’m going to show you the best place to learn for true success!
If you want to check it out now, please CLICK HERE.
- 1 What’s Passive Income, And Why Would I Want It?
- 2 Is Passive Income Really Passive – The Truth!
- 3 Let’s Look At Some of The Best Sources Of Passive Income
- 4 Now, To Deliver What I Promised
What’s Passive Income, And Why Would I Want It?
Let’s start by defining passive income. According to Wikipedia, “Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.”
So, in terms of an online business, it means that the income you receive from your website is continually being deposited to your bank account, with minimal effort on your part. Without trading your time for that money, you now have more time to travel, spend time with your family, or cross off those items on your bucket list!
Income is categorized into three broad types: Active, Passive, and Portfolio.
- Active Income is what most of us have been trained to do since school age. We are taught to study in a particular field of choice, graduate, find a job in that field, and trade our time for money. If we work, we get paid. If not, no money. Though this is the backbone of our economies, it leaves us with little extra time to fully enjoy life.
- Passive Income is what most of us dream of having. This type of income, allows us to earn revenue after the work is done. Some people build streams of passive income as an insurance in case of job loss or health issues. Others create such massive streams that they can quit their day job entirely. This affords them a quality of life well beyond what a regular job can give.
- Portfolio Income is acquired through investments, dividends, royalties, etc. Unfortunately, you are required to initially invest a large amount of money, upfront, before seeing any return on that investment. Though very lucrative, most of us just don’t have the extra income to invest.