4 ms·
Pretty much the same. Do some work, create resources (money, website, app, property, knowledge), put the resource to work for you. No doubt using resources you
by shanecleveland 10y ago
Pretty much the same. Do some work, create resources (money, website, app, property, knowledge), put the resource to work for you.
No doubt using resources you already have, which in your case is money, to generate income would fit the definition of passive income. More accurately, it's investment income, which also is not guaranteed. And you did have to perform work to get that money in the first place. Are planning on injecting more funds into your portfolio? That likely means performing more work to generate those funds.
Likewise, I have sites that generate income that I have not touched in months, maybe a year or more. Like you, I had to do some work to begin generating the income. Now, it's passive income. Not a business.