What is a passive income?
Passive incomes are acquired by doing little or no work. In other words, you invest your time once and then continue to receive monthly payments without having done any of the actual labor yourself! One example might be renting out property-the owner only has to ensure that it’s habitable for tenants who pay rent on time each month; this makes him/her considered “passive” because there won’t need much more effort after establishing initial groundwork with potential renters in order make sure everything runs smoothly at all times.
Passive income is the key to retirement. It’s what allows you to live off less than 40 hours per week, work in your pajamas if necessary and not worry about money so much!
A passive investor will invest their time for free by doing things like renting out homes or investing cash they already have – this type of investment provides an individual with reliable monthly checks without them having any additional obligations on top which means there are more opportunities available when trying rebuild wealth again after taking some breaks along life’s journey.