My favorite income is passive income. Income that continues to travel into your bank account week after week, month after month, year after year without you doing anything.
Well, I say anything, but that’s not quite the case.
Passive income is about putting the work in first, sort of like upfront payment and then netting the rewards.
It’s not often easy, in fact, it’s sometimes hard and you put in long hours. However, what keeps you going is the knowledge that once done, this piece of work is going to (hopefully), bring you money in the future.
It could be a piece of artwork you sell on places like Etsy.
Maybe a knitting pattern you sell from your own web site.
A book you write and place on Amazon.
A class you teach on Udemy.
We’ll be taking more about passive income in the coming months. This year, it’s the main focus of my work. I’m putting together products and classes that I hope will continue to sell for many years to come and even into my retirement years.
So, today, think about what you can produce that can be turned into passive income. Even look at it as part of your retirement portfolio.