For those of you who are unaware passive income is unearned income generated from investments, properties or side hustles. It’s a steady flow of cash not earned from active work, such as traditional employment or full-time entrepreneurship.
There are a few passive income options that I have chosen that do not change the way I run my life. I signed up for cash back credit cards. There is no annual fee and I use the cash back to offset purchases I have already made. Other prefer airline points, I prefer cash.
The big sources of passive income are not so simple unless you already have money. Most sites talk about laddered CD’s investing in stocks and bonds. Here you need money to make money, not always so simple.
Others talk about buying rental properties or real estate. Again, you need at least the downstroke to get started and the pandemic showed that landlords are now the last to ever get paid, if they ever do and the tenants don’t have to pay and live for free in most states, till the courts say otherwise.
Then there are the bullshit suggestions: be an online shopper, write a book, teach an online course. These are time consuming and probably will not make any money.
The best side hustles are doing what you do or love on the side and make some money. Start small and let it grow naturally.
Do what feels right, I have tried to get my kids to get side hustle, they went out and got a second wage slave position.