In this Article, I have mentioned in very detail that What is Passive Income, How it works and What are the various types of Passive Income. After reading this Article, You can easily understand that What I mean to say and you can start building your own Passive Income streams right away.
Now, This Article is all about How you can acquire a Passive Income Stream? I will show you few amazing ways to acquire passive income streams. So Here we go.
01) Buy Dividend Paying Stocks -
Dividend Paying stocks are a good source of Passive Income. The main advantage of this Income is that, It is 100% Tax free. Many people spend their whole life to build a portfolio of Dividend paying stocks. In fact, many people have retired early by building their Million Dollar Dividend Paying Stocks portfolio in their thirties and forties.
02) Interest Income -
You can invest in Bonds and generate a steady fixed income stream.
03) Rental Income -
You can buy a residential or commercial property and put it on rent and enjoy a steady rental Income. Many people have their own portfolio of properties and they are making good passive rental income every month from their properties.
04) Royalties -
If you can not acquire a Passive Income stream than simply create it from Scratch. Yes, This is true. A Royalty Income is something about creating a Passive Income from your Knowledge, Skill and Passion say for Example Books, Movies, Music…etc..
You can write a great book. Writing a book is the one time hard work. Once you do your hard work, your job is over. The Royalty Income will keep flowing into your bank accounts every year.
05) Online Income -
This is my most favourite Passive Income source. In fact, “My Journey To Billionaire Club” is the Great Example of a passive income source. I have to work hard at once only to create an Information rich article. This is one time hard work only. After that, weather I work or not, People from all around the world will never stop consuming the Information from this Blog and the Income will keep flowing in my bank accounts weather I work or not?
Thus, wither you can acquire a Passive Income stream or you can create it out of Scratch. I have developed a Passive Income stream out of Scratch only without doing any investment of my money. Of course, I have invested a lots of time to develop this Asset (This Blog). But it is worth it…!!!
