Facts to know about passive income

[cherry123]

Passive income mighy looks like an easy way of making money but you need to know that work is still involved. For passive income you might need to do some or all of the work upfront. So you need to set up avenues of generating passive income before they can start to pay you.

Secondly, when using any passive income generation you don't need to relax after setting it up , you need to keep upgrading it so that you keep making good money off it. if you buy a property you need to keep maintaining it.so that it would not lose its value and you keep generating the income

 

[Starmix]

Despite having stable work, but I am still doing a passive income. I also have my offline business the milk tea-selling business in the mall. My passive income is my mutual fund .

 

[cherry123]

Yes it is good to have both active and passive income. you need to diversify so that you take advantage of the two so that one that isn't working will not ruin your joy

 

[Starmix]

I feel secure because of my business and mutual fund that bears good interest
Hoping someday you will be successful in your dream passive income the buying and selling of cryptocurrency. You'll surely make it to the best of your ability.

 

[nomad]

You will be able to generate passive income only by doing a substantial amount of work or investing a lot of money. You cannot generate stable passive income by investing $50-100, you might have to spend thousands of dollars to generate good amount of passive income

 

[Chibson]

Despite having stable work, but I am still doing a passive income. I also have my offline business the milk tea-selling business in the mall. My passive income is my mutual fund .

I actually like that idea. Even if you have a stable job it is always very important and necessary to try as much as possible to build a passive income source for yourself. It can help you a lot in the future.

 

[cherry123]

Yes with passive income the more money you sunk in , the more money you would generate. So sometimes it is good to get good amount of money to invest.

 

[Starmix]

I actually like that idea. Even if you have a stable job it is always very important and necessary to try as much as possible to build a passive income source for yourself. It can help you a lot in the future.

That's exactly correct. And I'm happy doing a side hustle. We need to be practical and realistic this time. There are many sites online where we can take advantage as long as we have the Internet.

 

[Niyi Briggs]

When we say you don't need to do anything for passive income to keep producing, it doesn't mean you won't be doing routine periodic maintenance.

 

[Shortie]

These are all fair points. I think a lot of what people forget is even though they have managed to establish a passive income, that does not mean the work stops altogether, you do still have to put work in to ensure that passive income stays. As soon as you stop putting work in, the passive income will become smaller and smaller until it stops. Having a passive income is great but it doesn't mean less work, especially if you want to keep the passive income coming in and also have it increase as well.

 

[Chibson]

That's exactly correct. And I'm happy doing a side hustle. We need to be practical and realistic this time. There are many sites online where we can take advantage as long as we have the Internet.

Definitely, the opportunity is on the internet is limitless. You just have to acquire the necessary skills and apply them accordingly to make passive income.

 

[Starmix]

Passive income is what people seek at this time. It is not easy to reach old age and just relies only on children better for the parents while still able to do passive income so when they retire, they will live on interest and not a burden.

 

[Chibson]

Yeah, trying as much as possible to build passive income at your young age is important. That way when you are old you will not depend on your children actually.

 

[Suba]

You must have a plan to be able to make passive income, there are types of investment instruments that require maintenance costs such as property, but there are also investment instruments that do not require maintenance costs such as crypto and securities.

 

[Chibson]

Yes, there are some passive income that you do not need a lot of monetary investment. Some of them are sustainable and some may not be so much sustainable. But buying properties still remains the best.

 

[riberet19]

Yes, there are some passive income that you do not need a lot of monetary investment. Some of them are sustainable and some may not be so much sustainable. But buying properties still remains the best.

The bad thing is that properties are usually very expensive and it is difficult to access that market because of the threshold of money you need, luckily in my country banks are starting to make crowdfunding initiatives with the help of the bank's investment also to access the real estate market to retailers.

 

[LoukiaCharilaou]

Passive income is wonderful but it is important to know that you will have to work hard in the beginning so as to enjoy the passive earnings later on.

 

[Chibson]

The bad thing is that properties are usually very expensive and it is difficult to access that market because of the threshold of money you need, luckily in my country banks are starting to make crowdfunding initiatives with the help of the bank's investment also to access the real estate market to retailers.

Wow, I think that is a very good initiative especially for those who have interest in purchasing properties. In my country they usually request for complete payment if you want to purchase a property.

 

[Starmix]

Passive income is wonderful but it is important to know that you will have to work hard in the beginning so as to enjoy the passive earnings later on.

We surely enjoy our passive income after some years of building it. It will be better to build it while still young and have enough energy nit during later years when energy weakens,lol.

 

[Chibson]

Definitely, building a passive income source while you are still young is very important. That will help you to enjoy life fully in old age.