5 Simple Ways You Can Set Up Passive Income Streams Today:
With the massive change that COVID-19 has caused in many industries as the world adjusts to the ongoing pandemic, it’s become clear that the way our grandparents built their living just isn’t going to work for you and I. We’ve all heard a family member stress the “go to school, find a job with a great company, start your family, then retire 45 years later” American Dream tale as old as time, and the coronavirus pandemic has only further depicted the difference of our reality in the 21st century. Now, more than ever, you should be working to start creating multiple streams of income.
Let’s break down what I mean when I say Passive Income Streams:
Active Income: An active income is one that you are actively making, meaning a job that depends on you physically being active to make money. Working a full-time job at the Bank is an active income stream because you only get paid while you are putting in the hours.
Passive Income: A passive income is a source of money that continuously for work that you only had to create one time. For example, Monetization on your YouTube Channel, selling a course online or creating a mobile App that has in-app purchases
