Passive income can happen in a number of ways. For example, you might have a savings account where the interest just keeps accumulating each month.
Or you might have a business that you own in which you pay someone else to manage it for you, so that you have very little time investment in keeping that business operating.
Those are both examples of passive income. You do nothing, the money rolls in.
The problem is that most of us are not in a position to take advantage of those methods. We might have a savings account, but unless you have a hefty chunk of money (say, at least $100,000) then you aren’t going to be making much passive income from the interest.
Most of us do not have a self sufficient business, either.
So what is the answer?
For me the answer has been making money online. There is an incredible amount of leverage to be had by using the internet as your passive income tool. One reason for this is that you can work from home to set up what will eventually become a passive income stream. Now it is true that this will take some initial work up front but after that the massive leverage of the medium will take over and you can start making money while you sleep.
I have written several hundred posts for my websites and a few of them have become quite popular. Those that do are now earning an average of a dollar or more per day. Now that doesn’t sound like much but we are talking about the earnings from a single post (btw I monetize exclusively with Adsense). If you are making a dollar each day on a post and you can scale that solution out, then all you have to ask yourself is “how many posts like that should I write?” The sky is indeed the limit.
Now if it were just about writing a killer post then I would already be a millionaire. The fact of the matter is that it is also about getting links to these critical posts of yours so that they receive search engine traffic. That is the only way I have ever made much money online and that is from receiving visitors from search engines. Those are the only people who click on ads and therefore I do not try to get social traffic.
So that is a glimpse into my system of passive income and at most I have to put in 30 minutes per day to keep the money machine going…not entirely passive but pretty good at only 3.5 hours per week. Can you Make Money doing nothing? I’m certainly doing it and getting better at it with time. My income right now from this is right around $300 bucks but that is up from right around $100 only a short time ago. Growing fast here, will keep you all posted of course, with more insights to come……