How to Acquire Passive Income?
This Article is all about how you can acquire a Passive Income Stream.
So here we go.
01) Buy Dividend Paying Stocks
Dividend Paying stocks are a good source of Passive Income. The main advantage of this Income is that it is 100% Tax free. Many people spend their whole life building a portfolio of Dividend paying stocks. In fact, many people have retired early by building their Million Dollar Dividend Paying Stocks portfolio in their thirties and forties.
02) Interest Income
You can invest in Bonds and generate a steady fixed income stream.
03) Rental Income
You can buy a residential or commercial property and put it up for rent and enjoy a steady rental Income stream. Many people have their own portfolio of properties and they are making good passive rental income every month from their properties.
If you cannot acquire a Passive Income stream then simply create it from Scratch. Yes, this is true. A Royalty Income is something about creating Passive Income from your Knowledge, Skill and Passion say for Example … Books, Movies, Music, and the list goes on.
You can write a great book. Writing a book is the one time hard work. Once you finish your hard work, your job is over. The Royalty Income will keep flowing into your bank accounts every year.
05) Online Income
This is one of my favorite Passive Income sources. In fact, “My Time Matters Blog” is a Great Example of a passive income source. I have to work hard at once to create an Information rich article. After that, whether I work or not, People from all around the world will never stop consuming the Information from this Blog and the Income will keep flowing in my bank accounts whether I work or not.
At the end of the day, you can acquire a Passive Income stream or you can create it from Scratch. I have developed a Passive Income stream out of Scratch. Of course, I have invested lots of time to develop this Asset (This Blog). But it is worth it.