Passive income streams require upfront effort or investment but generate ongoing returns – they’re key to building long-term wealth.
Dividend-paying stocks provide regular income payments in addition to potential price appreciation.
Real estate can generate rental income, but it requires active management unless you hire property managers.
Creating intellectual property like books, courses, or patents can generate royalties for years.
Start with one passive income stream and reinvest the earnings to build additional streams over time.
The goal is eventually having enough passive income to cover your living expenses.
Is Active or Passive Investing Best? What’s the Difference and Pros & Cons
