Passive Income.... What is it, and how do you get it?

Sometimes people use the term "financially free".... usually it is used when people want to "hype" something. I know the term from a long time ago when I signed up to try Multi-Level Marketing....

But what is it really? To me, it means you have enough money coming in so you don't HAVE to work... It frees you to work at what you love....

I don't think it is good to be a lazy bum in society.... but it is good to have security, and to be able to work at what you love....

To me, being "financially free" means having enough "passive income"....

What is "passive income"? It's money that comes in WITHOUT you having to work at it....

Is it possible?

Yes it is, with investment....

Investment doesn't have to only be about stocks or property.

Writing an ebook is also a form of investment -- you can get money coming in (in the form of royalty checks) without you having to work at it at all -- after you have "invested" the time to write your ebook.

Another example is investing the time and money to build your own business. If it is the sort of business you could sell later, or employ people to run it for you, then it is also a form of investment. (This is where "The E-Myth Revisited" can help with guidance -- others have mentioned that book earlier....)

Are you working on your passive income? How much money do you have coming in every week, or every month, WITHOUT you having to work on it?

I have some passive income coming in from my stock market investments (though I mostly invest for capital gains rather than dividends.... and I'm doing pretty well....).

Some people I know invest in property, and have money coming in every month from rental money.... another form of passive income.

But investing in stocks or property takes some money. What if you don't have any money? Writing an ebook and selling it through *other people* is also another form of passive income....

I also have plans for an ebook + software package on stock market investing which will I expect will increase my passive income significantly....

How about you?

Just something you might like to think about....

- Dien Rice