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Have you ever wondered the difference between passive income and earned income? Below we discuss the difference, and how you can get on the better side of things to live a better life. There's secrets of the rich. They know how money works and how to make it work for them instead of working for it. Find out how you can get on the right side of income today.
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What is earned income?
The definition of earned income is money you earn in exchange for working hours. This is how the majority of workers in the world earn their money. In exchange for hours they work themselves, they get an hourly wage. They trade time for money. More commonly known as, they typical 9 - 5.
What is passive income?
Passive income is money earned without the requirement of being present. Passive income is earned while you sleep. Passive income is earned while your are sitting on a beach in Mexico. You do not have to trade time for money.
So, how can you earn passive income? See below.
10 good ways to earn passive income
1) Start a service business
2) Start on online business with drop-shipping - Printful-Shopify
3) Write an ebook
4) Start an online business with courses (memberships/subscriptions)
5) Become an Amazon seller
6) Become an investor - Look into investing apps where you invest as little as 10 cents a day.
7) Rent properties with AirBnb
8) Start on online business
9) Sell free items with Craigslist and marketplace - Go to the free area. Pick up, refurbish, and resell. Furniture is one of the hottest selling items.
10) Start a blog and sell other peoples products - Sell your own videos, books, courses.
In conclusion, do your homework and get on the right side of income. It could completely change the quality and trajectory of your life. Do what you want with your time. Put in the time now. Take control of your life.
About the Author
Matt Jones is a writer and entrepreneur with multiple businesses who loves inspiring others to reach their full potential. He is also a musician, educator, and world traveler whom has been to over 65 different countries on all 7 continents. His personal mission is to create and inspire. He is from Los Angeles, but is now based in greater London where he lives with his wife and son.