Passive income is money that you earn without putting in much effort. Some passive income ideas take a alot of upfront work to start earning, like writing an e-book and selling eCommerce, also things such as investing in Forex and the Stock market.
Putting your effort in upfront and collecting the returns forever after is the foundation of financial freedom.
Clearly, it’s hard to generate passive income. It requires the upfront investment of a significant amount of our time, usually with little to no returns for extended periods. We can go months and even years without a single dollar produced from passive income activities, making even the most astute entrepreneur shake their head in sheer and utter frustration.
The truth of the matter is that time is far more valuable than money. While money can be spent and earned, time can only be spent once, then it’s gone forever. As we age and grow older, we understand the importance of time and being able to freely choose what we do with those precious moments that we do have in life.