What is passive income and how to build it?

Passive income is money earned from a business or investment that requires little to no effort or active involvement. Some common examples of passive income include rental income, income from investments in stocks or real estate, and income from digital products or services. Building passive income requires careful planning and a significant initial investment of time and resources, but it can provide a valuable stream of income that does not require active effort or time commitments. Some strategies for building passive income include investing in dividend stocks, creating and selling digital products, and investing in rental properties.

This mind map was published on 18 April 2023 and has been viewed 122 times.