Passive Income
Ultimately, aside from winning the lottery, the best possible way at being able to make income is to earn it passively. What does that mean? Basically, money you don’t have to work for. Many do this through real estate or internet advertising.
Here is an interesting article about the upsides and downsides of pursuing a passive income venture. Its not a glamorous as some may think. Plus, I think some people also mistake multilevel marketing (aka giant scams) as passive income. MLM’s are a dangerous thing to get into, and many fall into its trap and end up losing a lot of time and money. There are very very few that make a profit off a MLM and even fewer that make a lucrative business from it. Look it up on google and you’ll see many of them are rather crooked.
It appears that the most popular forms of passive income are real estate, internet advertising, and stock/securities trading. I have considered entering the stock market, but my sad risk adverse soul always has a fear of losing money. If I can just get over the risk aspect of it, I feel I could do well in the marketplace. I may not be the next stock market marvel, but I think I have the potential of clearing a healthy profit.
Has anyone pursued a life based off passive income? How has it worked for you?