A Passive Income is a key to achieve financial self-reliance. The Famous Investor guru Warren Buffet always says “If you don’t discover a way to make money while you sleep, you shall work until you die”. The crux of above saying is you must generate a passive income, else you will achieve financial self-reliance never. Let’s try to understand why with a good example. When you think about your work life it’s finite.
You will stop working someday, if not now, may be in the near future sometime. Even superstar Amitabh Bachchan is well alert to that. With an eye on the future, he has started making more and more money. He is constantly engaged in the work to earn active income although his age is 74. So, what is the solution? One solution is to keep working like Amitabh Bachchan. The second solution is to, generate a passive income like Rakesh Jhunjhunwala.
Rakesh Jhunjhunwala earns around 100 Cr dividends every year as a passive income. The passive income of Rakesh Jhunjhunwala is enough to care for his requirement. So, if you are ready to receive income for the others you will ever have, while you eat even, sleep, drink or travel the world here are best passive income ideas. Also Read – How exactly to earn passive Income?
- 2- Do less work and overtime
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- Founder: Pankaj Garg
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- Founders: Jesse Merrill
What is Passive Income? Unaggressive Income is income where you receive a commission and again for the work that you have done once again. It is money received on a regular basis with hardly any or no efforts. Another true name of passive income is continual income. Passive income is not long term in nature.
Some types of passive income last for few years yet others last for generations. There are various ways to generate a unaggressive income, However, I will share only a few out of these. Passive Income ideas are broadly divided in two parts. Passive income ideas that want investment of money and passive income ideas that want only time.
Peer 2 Peer Lending – First passive income idea is peer 2 peer lending. You can provide your extra money to someone else and enjoy the interest income. You will find multiple P2P financing portals available online because of this. This idea takes a great deal of investment. Dividend Income – The next passive income idea is dividend Income. In this basic idea, you need to get your money in the currency markets.