Passive Income
Hello all.
Passive income: Earnings from a business that does not require direct involvement from the owner or merchant.
Passive income. It is something we ideally would want to have more of. I am at a point where this site is making very little passive income for me. Although I am receiving very little passive income from this blog at the moment, I consider myself very fortunate to be in this position. This position is a very nice one, because starting with this model of passive income, even this little income I am now receiving is a seed that will only continue to grow. I expect this to increase with the amount of effort I put into the development of this blog. I intend in due time this blog generate passive livable income for me in the very near future.
Passive income, unlike earned income is income a person receives regardless if they work or not. Many of you that are familiar with the book Rich Dad Poor Dad, have read about this concept. Just to refresh your memory, earned income is income that you receive from working at regular job, and receiving a regular pay check every two weeks. Passive income is when you receive money on an ongoing basis from a product or business you have created.
The wonderful thing about blogging and writing articles online, is that you can get paid from the efforts of past articles that you have written that people find to be very relevant and are still interested in, and are finding through online searches.
The other way I am collecting passive income is in the form of royalties from my two books. For every book that I sell, I make $3.00 net profit. This is nice, because something that took me one year to write and work on is now available for sale and I don’t technically have to work for the royalties from each purchase of my book.
Working to get your income passive does take a lot of work. It does take a lot of time, experimentation, and sacrifice. But financially, I believe it is really worth it in the long run. The best part for me about blogging, is that I have a real passion for what I write about. Personal development, and inspiring others to live to their full potential has always been of interest to me, as I am constantly up to date with the latest and valuable ideas in this industry.
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