What is Passive Income, Why is it So Great and Why Do You Need It?
Do you want more money with less work to get it? Passive income is income you gain by doing little or no work, or doing work up front and receiving income after that. Passive income is awesome because it gives you the gift of time. And time equals freedom.
You can’t stop time or rewind the clock. However, you can make the most of the time you have each day. Most people spend the majority of their time – 8 to 12 hours a day – working and traveling to and from work.
But You Need Money!
Yep, I get it – you need money to live! But what if you could find a way to get money and not work? What would you do with that extra time?
Take a spontaneous vaca to the Carribbean? Grab your spouse by the hand and head out for a fancy dinner on a Tuesday afternoon?
Volunteer at a local youth center and teach inner city kids how to be successful entrepreneurs like you are? Take the week off when you want to – without asking your boss for permission?
If you know the right passive income sources for you, you get to decide how to use more of your time. And we can show you how to find those sources.
My First Passive Income Experience
I earned my first passive income in 2013 when I started my first blog. After a few months of work on perfecting the blog, readers started to sit up and take notice.
Soon I was earning several hundred dollars a month in largely passive income. Four years later, I sold that blog for a cushy five-digit sum. Yep, that means I sold it for more than $10,000.
And that was when I had very little idea what I was doing.
BUT, I knew I was hooked on the passive income concept. Later on I bought my first shares in a real estate crowdfunding company.
Within 30 days I was earning entirely passive income from real estate investing returns. I had my account set up to auto-debit monthly deposits to my investing account.
The firm, Rich Uncles, dealt with all aspects of investing. And every month I got a statement telling me what my dividend profits were.
I could have chosen to take those dividends as cash, but instead I’m reinvesting them so I can build more wealth.
My goal? To have enough passive income sources that I can retire, take my monthly passive income cash and spend my time as I please.
There’s No Free Ride
As with anything worth having, there’s no free ride to passive income. You will have to do some work to gain them.
The goal of the Great Passive Income Ideas blog is to help you get the passive income sources that are best for you.
There are hundreds – if not thousands – of passive income ideas out there. However, not all passive income sources are the best choice for every person.
We help you learn detailed information about every passive (and side hustle) income source we find. Then you’ve got the knowledge to find the passive income sources that are right for you.
Go to our blog to start learning all you need to know about earning passive income for yourself.
Hey! I’m Laurie Blank, a mom to four great kids, a homeschooler and a business owner. My goal? To tailor my income around raising and homeschooling my kids, and around doing what I want, when I want.
Family is super important to me, and I want to be able to take off and do stuff with my family when I want to. No asking a boss or waiting on approved vacation days.
This is why I started working on residual and passive income ideas six years ago. And I’m sharing what I’ve learned so you can create your own schedule too!