Creating passive income. This is one of the key steps to financial independence and early retirement. But what is passive income?
The basic idea of passive income is that it is money received with little or no effort required to maintain the flow of income once the initial work has been done.
Some examples of passive income include rent from real estate properties, investment income, profit from business' that you do not actively run, and ad revenue from websites. This is just a few to get us started. We will go over ways to generate passive income in detail in later posts.
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