Business Opportunities points to an article over at About.com on Passive Income that is worth a read. I think most of us would like to get to a situation where we could say our income earning is somewhat passive:
‘Passive income, on the other hand, is income that does not require your direct involvement. Some kinds of passive income you may be familiar with include owning rental property, royalties on an invention or creative work, and network marketing. If you want to earn more, work less, and have a decent retirement, you’re going to have to start creating income streams that do not require your direct involvement. Whether you’re just starting your business, or you’ve been running it a while, the sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve personal and financial freedom.’
The question I’ve been asked a number of times by friends is whether my blogging strategy is one in which I’m building a passive income?