This Article is About
passive income
income streams
time investment
minimal effort
financial future
turbulence
citizen
Ways To Earn Passive Income In The Twenty - First Century:
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Ways To Earn Passive Income In The Twenty  -  first Century:

This article is about to explain simple ways of earning passive income in our time, and why everyone should see to it that their financial plan include two or more of such income streams.

Now what is a passive income? In a simple way a passive income is any source of your current income that you do not actively work for it to come into your covers.

Before the year 2000, such examples as interests on cash deposit (CD), stocks, etc will be okay. But with turbulence in the world market brought about in part by a globalized economy, it now becomes very clear that anyone who looks for a secure financial future should look beyond these.

For the benefit of doubt, I want to define three classes of income as follows:

Active Income

Semi Passive Income

Passive Income

Active Income is the funds that comes into your covers as a result of your active effort – working for a living. Example is you current employment, that is your nine to five job, okay?

Semi Passive Income is the income you get as a result of your minimal effort. If you set up a small business while you are still an employee elsewhere, you will need someone else to manage the business for you. You just go there on weekends or twice or thrice a week after office hours to see that things are in order. Yeah, the income you derive from such venture is as a result of mainly somebody else effort. This is why it is called semi passive income.

On the other hand a passive income is such an income that you earn continuously as a result of your one-time investment. The income keeps coming to you in the form of profit, interests, etc, throughout your lifetime. Of a truth, this is your funds working for you.

There are many ways to earn passive income such as:

Rent and Lease

Interests Earned

Dividend

Land

Equipment

Etc,

I have noted earlier on that globalization affects most of these income sources. So the next thing I should ask you is: which source of passive income do you think is good for the 21st century citizen of our mother earth like you?

If you are not sure of the answer, I am here to tell you exactly that.

The only place you can find passive income these days is to go online. I guess most people reading this writeup are already Computer and Internet literate. A simple Google search online will bring out hordes of companies waiting to pay you for doing one thing or the other for them at your convenience.

Screen through them and you will get the good ones to join and make you income with ease and at your own pace.

Before joining any, take your time to make sure that:

• The company has a good and genuine product at a good price

• There is provision for training and adequate marketing tools

• A good compensation plan

• Ensure that the company have been in business for at least 5 years.

The best financial insurance and investment you can do for yourself and family is to create multiple streams of residual or passive income now. These days, we hear of downsizing and right-sizing in the corporate world.

What this means to the rest of us is simple as this: your job can go red anytime from now and you may have to act in time otherwise you will not be able to support your child's education or even your health bills.


Street Talk

H Terrell  

I see you about making money online. I will stay tune to your articles.

Reply
  about 8 years ago
  

Passive income is simply, additional sources of income to your present main income, the one you are not working on it daily but you still get some returns. Others called it multiple streams of income. It is the major secret to financial freedom, the secret of high network individuals that you know of...Do you have any idea of other such income sources? Mention them to us.

Reply
  about 9 years ago
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