Passive Income to Wealth

                        Passive Income to Wealth

Income:

There are two types of income. 1. Active Income and 2. Passive Income

Active Income:

If you are working in an organization and getting salary at the month end then it is known as active income. Doing physical work and earning money for that is called active income.

Passive Income

If the money works for you and generate incomes is known as Passive income. You can invest in a source which will give some good returns examples are Fixed deposit, shares, dividend giving shares, rental giving buildings or houses. This is not like 9-5 job. Once you can invest and get money from that for your life time. But before invest your money you have to be conscious and do some market research about that source. Because there are so many scams available in the world. Do some personal research then if you are confident then you can invest. But the major advantage is you will get financial freedom

Recurring, automated revenue is cash procured from adventures in which an individual isn't effectively involved. As per the IRS, casual exercises include leasing property or organizations in which one doesn't tangibly take part. The appeal of recurring, automated revenue lies in producing income streams that expect practically zero exertion after the underlying arrangement, possibly prompting monetary autonomy.

Normal Wellsprings of Passive Income

Real Estate :

Real estate refers to property, including land and buildings. Buying and selling  of a property is known as real estate.  The value of the property will increase after some time period. It is very popular in all over the world. To achieve financial growth this is the common choice for most of the people. We can give property to rents from this we can get income regularly.

 This incorporates income from investment properties. Land owners can acquire standard pay from leasing homes or condos.

Digital Products:

Create and sell products in online includes in digital products. No need to create that product in physical just create it in online and sell. We can create in low cost and where ever you are. You can simply sit at your home and can create this. The examples of digital products are online classes, ebooks, softwares and etc.,To create these products we can use free websites like  Photoshop, canva. You can create products once and earn passive income for lifetime at low cost. And main advantage of these products is no need to ship to customer place we can deliver in online all over the world easily. For creators, they offer a flexible and scalable way to earn income online from anywhere.

Investment:

Investment is the act of using money to buy assets like stocks, real estate, or businesses with the goal of making a profit. When you invest, you hope the value of what you bought increases over time. People invest to grow their wealth, save for the future, or achieve financial goals. Investments can be risky, but careful planning can lead to long-term rewards, helping build financial security or passive income. Profits from stocks or interest from bonds can turn out latent revenue.

Affiliate Marketing:

Affiliatemarketing is a performance-based marketing strategy where you earn a commission for promoting other people's or companies' products Acquiring commissions by advancing others' items. Affiliate marketing is when someone earns a commission by promoting a company's products online and getting paid for each sale or lead generated.

Automated Business: 

This can be done by software, AI, with little or no human involvement. Examples for this type of business is marketing, inventory management, customer service. Automation helps businesses run efficiently, saves time, reduces errors, and allows for scaling. Some plans of action consider procedure on 'autopilot', where the proprietor needn't bother with to be effectively engaged with day to day activities.