With passive income, there is still an investment made (either in time, money, or both), but the work gets done initially, and then that investment starts working for you with little to no effort moving forward.
What is the difference between Active and Passive Income?
Active income is money earned in exchange for time or service performed. While Passive income is money earned when completing the work upfront or with some initial investment but then continues to make money with minimal effort in the future.
Create an Online CourseHaving knowledge or skills about a specific topic, sites like Udemy or Skillshare make it incredibly easy to create, host, and sell your knowledge.
Start a Youtube ChannelEnjoy making video content? Consider starting a youtube channel. You can earn passive money via video display ads once you meet the threshold of viewers and watch time.