![]() ![]() So basically, passive income greater than the expenses you makes simply put means you never have to work again. Once the expenses become equal or greater than the passive income you are making you fall back into financial slavery, or how some call it - daily jobs. It means that you are good to do whatever you want to as long as your passive income is greater than the expenses you make. Residual Incomeįinancial freedom is another term that is often thrown around the internet when talks of passive income and means of earning are brought up. The most common definition of passive income is this: Income that you earn without being actively involved. Passive income is the money you earn through alternate sources, as opposed to the active method through which you earn money by selling your time, as we established before. Passive income generating is by no means an easy task, and will definitely take some action to reach, but it is very, very reachable. This means that you can either jump start your passive income by investing some money in it from the start - such as paid advertisement or something of that sort, or spend a sizeable amount of time perfecting yourself and working around what you’ve got without having to spend any money. All passive income sources require either one of these two elements, but best results are reached when they are combined. The truth is, even passive income takes a bit of sacrifice. To be honest this hit me pretty hard the moment when I realized it - there are ways to earn money every month by doing almost nothing, and it’s not renting a house or apartment you inherited? First thing I thought when I heard this was “ What can I do to make this happen, ASAP!?!” This is where passive income comes into play. Then I learned about how people earn money without leaving their house, and even working from another country, and without having to spend too much time on it. I would much rather like not to have to go to work Mon-Fri for 40 hours, and instead stay at home, play video games, drive a bike, run with the dogs, or perfect myself in some other way, but I can't because I gotta eat, and to eat I gotta earn money, and for that I need to sell my time for money!! However, many don't accept that concept as valid, and see it as slaving off your time instead of putting it to good use and things you actually prefer doing. Pretty simple and almost everyone understands that concept. ![]() You come into office, sell your time for a certain amount of money per hour, and then at the end of the month you collect your paycheck. Active income is where you sell your time for money - this is your regular everyday jobs. There are 2 basic ways to earn money: Passive and active income. Once you taking the student loans piling up in consideration and the inevitable oil prices going up in the near future as well, it might be a good idea to either start looking for another job, or think about starting a business of your own! This article will explain passive income ideas for Millennials in 2017, and exactly what you can do about them! What Is Passive Incomeīefore answering this question, let’s quickly define income: Income is all the money that you earn through any means and streams. In the past few years, it has become more and more alarming for Millennials to be reliant on a single job given how the American job market has been fluctuating lately more than ever. Learn to Earn Online: Passive Income Ideas For Millennials In 2017 ![]()
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