The implications of passive income

[flower]

Passive income does not have applications instead it has advantages. The major advantage is that you can make money while you are asleep. You also do not need to stress yourself to make money.

It is true that passive income has a huge advantages that could be tapped into.

 

[Chibson]

Yeah, a lot of people are already making passive income in different ways. It depends on your most favourable ways of making it also.

 

[Bisolami]

I think it depends on the kind of passive income you create for yourself. If you're able to create passive income online you do not need to pay taxes. You can only do that if you have some properties offline.

You are right but all of them have their risk but it is good to know how to manage the risk before you decide to engage in it because it is not easy to opt out after you have spent so much money on it

 

[Stardom22]

In my country the taxation based on the passive sources of income is relatively very lower than that collected on the active sources of income this is because the people working on that sector are still energetic and very promising.

 

[Bisolami]

In my country the taxation based on the passive sources of income is relatively very lower than that collected on the active sources of income this is because the people working on that sector are still energetic and very promising.

That is another valid point and when people like me think about tax, I may not feel like doing anything because of those charges. We are paying too much tax here already

 

[Stardom22]

I think when you start a blog site with any catchy niche you can as well make a reasonable passive income. Affiliate marketing is a very genuine profitable business to start up. Their advantages are more than the disadvantages.

 

[Bisolami]

I think when you start a blog site with any catchy niche you can as well make a reasonable passive income. Affiliate marketing is a very genuine profitable business to start up. Their advantages are more than the disadvantages.

This is why it us always advised that people should choose the entertainment niche. A lot of people love to visit entertainment blogs even more than how they visit others.

 

[Stardom22]

Yo

This is why it us always advised that people should choose the entertainment niche. A lot of people love to visit entertainment blogs even more than how they visit others.

You are very true in that my friend. I hope the blogs based in the entertainment industry receive alot of traffic more than the other types in a matter of fact.

 

[Bisolami]

Yo

You are very true in that my friend. I hope the blogs based in the entertainment industry receive alot of traffic more than the other types in a matter of fact.

I guess this is because a lot of people love to read things that I need to entertain them even before they choose to read about what is happening in their country

 

[Chibson]

You are right but all of them have their risk but it is good to know how to manage the risk before you decide to engage in it because it is not easy to opt out after you have spent so much money on it

Well, effective risk management in everything you do is very important and necessary. Almost every type of business is risky and you must learn how to manage it.

 

[Bisolami]

Well, effective risk management in everything you do is very important and necessary. Almost every type of business is risky and you must learn how to manage it.

This is why it is advisable to learn about risk management when you want to start a business. When you know the kind of risk that you can face in a business, you will know how to manage them

 

[Authenticity101]

Understanding taxation is very important for an investor. It is one of the things you need to study if you want to be financially literate. With this knowledge, you won't be paying unnecessary taxes or getting into trouble for evading tax.

 

[Chibson]

This is why it is advisable to learn about risk management when you want to start a business. When you know the kind of risk that you can face in a business, you will know how to manage them

Yeah, in almost every business venture problem always arises. so learning about risk management is important and necessary if you want to maximize profit on the long run.

 

[Starmix]

One implication of a passive income is financial security. If you have a good passive income, you can sustain your family's financial needs and wants. It is so crucial without a passive income, especially in this trying time.

 

[uptrendfinancialsignal]

One implication of a passive income is financial security. If you have a good passive income, you can sustain your family's financial needs and wants. It is so crucial without a passive income, especially in this trying time.

If you have access to a reliable passive income then it's an avenue to generate financial freedom as well.

 

[Starmix]

If you have access to a reliable passive income then it's an avenue to generate financial freedom as well.

Exactly, one must also choose the one that sustains for years like my milk tea business. I considered it my best passive income and by next year I'll expand by adding another branch.

 

[Blessed19]

These are the reasons why some people do not go all in to rental services because of the tax it will incure on them and again it is not a bad thing to pay up the tax as it would be for the good of the nation if not for the fact that we have some dubious leaders that sits on those tasks making it lot as if paying of task is a waste.

 

[uptrendfinancialsignal]

Exactly, one must also choose the one that sustains for years like my milk tea business. I considered it my best passive income and by next year I'll expand by adding another branch.

What was the passive income that you engage in? share the link so that I can also take advantage of the same.

 

[Starmix]

What was the passive income that you engage in? share the link so that I can also take advantage of the same.

My milk tea selling business and the buying of private lots by square meters are sources of my passive income. I will expand my milk tea next year. I gained in thousands buying and selling of the lots I bought two already.

 

[nomad]

You can build passive income by working additional hours, you do not have to work for many hours to generate passive income. However, you need skills and knowledge on different things to build a passive income.