Passive Income!
Growing up with a father who owned his own business and getting to know his friends and colleagues, I came to realize a simple truth. People who become financially independent, own their own businesses.
Not just any business either, businesses that made money when they were not there. If they were sick or on vacation their business still made money. It is called PASSIVE INCOME.
Passive Income is passive. Meaning, you do not have to be actively engaged, it runs on its own.
You have to do a lot of work upfront, then some regular maintenance, but after that, it generates income on autopilot. It is like the investor who spends weeks or months researching an investment and then when they finally invest in that great deal, they get the return on their investment.
Passive income is a pretty slick deal if you can get it going. True financial freedom is usually only achieved by those who figure out how to do it.
You can never be laid off, sick or injured. An example of passive income would be when someone has employees earning money for them or a website.
Money is made two ways online, advertising or selling products. With technology, both can be turned into passive forms of income. A website can be a great way to generate Passive Income.
And once you have lots of traffic, this is when your passive income really starts to grow, so no matter what you are doing, youre making money!