There are two types of income…
Active and Passive.
Question is, which type do you want?
Do you want to have to continually work day in-day out doing the same thing over and over in order to bring home a pay packet or would you prefer to work hard once and reap the ongoing rewards?
It’s a common sense really, who in their right mind would want to have to do the same thing every day in order to support themselves and family?
Trouble is most people do not know how to create passive income or have been burned before and believe it is safer to have a job and security.
There are many different ways of creating passive income, but for the sake of this article, let’s assume you didn’t get left an inheritance or write a number 1 song to receive royalties for the rest of your life.
True passive income is where the individual is not actively involved in the income creative source. In modern day terms, sitting on the beach somewhere enjoying a cocktail or two while the money still comes in is passive income. (Holiday pay does not count as passive income in case you were wondering)
Passive income has a ’get rich quick’ feel to it…but in reality like anything else, it still involves hard work. The difference with passive or residual as some like to call it is that you do the work once and fingers crossed, keep getting paid many years down the track.
Imagine building a site where you also offer affiliate products on the side such as…
Anyone that signs up to a service through a link on your page gives you residual income for years to come.
The best part of this is, if they stop paying for their domain hosting, then they lose their business and that is the last thing they will let happen.
So, you keep getting paid for doing nothing.
Here are some areas you can get paid just by referring a lead to someone else.
Simply place an affiliate image and link on your site and you are away.
The trick is getting people (traffic) to your site in the first place, but that’s another story.
So, all you have to do is decide if you prefer earned income or passive income.
Remember, not all digital marketing businesses create passive income.
Stay tuned for more passive income ideas.
Wishing you an abundant life,
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