WHAT IS PASSIVE INCOME?
Passive income can be defined as a consistent form of revenue earned without requiring too much effort. A good example of this would be investments; particularly in property, or receiving royalties from literature, songs, starting a self sustaining business or anything else along those lines. By doing so you will still benefit financially while having to do very little or sometimes nothing at all.
PASSIVE VS ACTIVE INCOME
The difference between an active and passive income is simple, it all comes down to the amount of time spent in order to achieve it. For instance, most people work Monday to Friday for approximately 40 hours a week in exchange for a monthly salary. This is regarded as an active income as you are required to actively participate in whatever role your job title states for you to receive your monetary compensation. On the other hand you have something known as passive income, which may require a significant amount of effort and time in the beginning but after a certain point it will not require much at all. Thus the money generated is not directly linked to the amount of time spent in relation to earning it.
In this day and age it is no secret that surviving on one source of income can be quite challenging, especially since the cost of living constantly rising at a staggering rate; while salaries remain the same. It is said that the average millionaire has roughly seven sources of income. Although this may not be a definite fact the idea is not that far-fetched. If that is the case we need to start asking ourselves, “How will I be able to generate an additional source of income; to sustain me and my family’s lives without having to work more than one full time job?”
The answer…? Well that’s pretty simple actually; by obtaining a passive income stream. This will allow you to acquire extra money without having to work too many extra hours. One easy way of earning a passive income would be to buy and resell articles from our PLR Store thus start your own business and make money online. There are different levels of reselling rights regarding private label rights content and this will influence how you are able to alter as well as advertise the purchased articles. After acquiring and reselling them, whatever profits are earned is 100% your own. This means that although you might not have put the initial effort took to create the feature you will still be able to fully benefit from rebranding and selling it. With so much to gain and very little to lose, an opportunity such as this is very difficult to turn down.