Daily Archive: January 6, 2019

Side Income: How To Choose A Suitable Passive Income Stream

“The starting point of all achievement is desire. Keep this constantly in mind. Weak desires bring weak results, just as a small fire makes a small amount of heat.”   -Napoleon Hill

Based on a large number of findings, reports show that one of the sources of real money for the wealthy comes from Passive income. In fact a large number people of rely on passive income to be able to finance their lifestyles.

65% of self-made millionaires have at least three streams of income. If retiring early or becoming financially independent is a goal of yours, you may want to consider setting up at least one stream of passive income. Passive income allows you to maximize your revenue without increasing maintenance and workload. That’s because the money you earn isn’t directly tied to the hours you work like a traditional salary. In many cases, such as writing a book or selling digital products, the work is front loaded and then the money comes in steadily afterwards.

If passive income is of interest to you, you have options. Some passive income streams require money to get started, while others require time. Decide which you have more to give, and build from there. This infographic from Lexington Law will help you figure out which passive income stream is right for you.

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