The Passive Income Tap!
The other day I received an email from a company promoting the latest “New Income Stream”…The headline read “Do You Want a Passive Income?”
I chuckled to myself as I scanned the material outlining the next greatest passive income opportunity as if that company had just discovered the golden key to income earning. What I did notice that there was no definition of passive income. That got me to thinking about the potential confusion that may occur regarding the accurate definition of passive income.
Well I did some due diligence and determined that the passive income definition is income from business activities in which you do not materially participate. Examples of passive income are:
- Earnings from a business that does not require the direct involvement form the owner.
- Rental income from a property.
- Royalty income from publishing a book or licensing patent or other forms of intellectual property.
- Earnings from internet advertisements on web sites.
- Repeated regular income earned by a sales person, generated from the payment of a product or service, that must be renewed on a regular basis in order to continue receiving its benefits.
- Dividend and interest income from owning securities, such as stocks and bonds.
As a professional network marketer, I continue to enjoy the good fortune and amazing lifestyle that can achieve by building a business within our industry generating passive income. In my opinion all you need to do is find the right company and start turning on your own “Passive Income Tap”.