Work Less, Earn More EP 124: The Ultimate Beginner’s Guide for Making PASSIVE INCOME
Ever since people started lending other people money thousands of years ago, it's been possible to earn passive income.
But things have changed a lot over the centuries and they’re changing all the time now as technology advances.
That means there are so many different ways you can earn passive income beyond the old fashioned way of collecting interest on a loan.
So how does passive income work nowadays?
It can sound too good to be true. It sounds like making something out of nothing. And a quick google will pull up hundreds of stories of people who say they’ve been wildly successful at it.
So how do you know what’s real?
Here’s the reality. We’re not creating something out of nothing. We are investing time or money into creating this stream of passive income for the future.
Let’s dig into what that really means.
Listen to the full episode to hear:
- What passive income means at its most basic in the real world
- Why passive income is never passive to start out with
- How to weigh effort versus return and risk versus reward when investing time and money
- Five steps to starting a passive income stream
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