The only convincing passive income definition is... earning money while you sleep or do nothing. It's money quietly and discreetly flowing INTO your pocket without working for it. And of course, that only happens when you're NOT caught in the time-for-money trap.
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Remember, money legally flows to your account only through P(assive) or W(ork). Read more about how money flows into and out of your account by clicking here
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Sometimes you'll hear people talking about residual income. For all practical purposes...
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Passive cashflow can come from a number of sources. The most common ones are...
* Interest on Savings
* Dividends from Shares & Stocks
* Cashflow from Real Estate
* Cashflow from Royalties & Patents
* Cashflow from Businesses
To learn more about passive income... click here or other sources of passive cashflow... click here.
It's one thing to say you don't work for passive income. But it's another thing to know what exactly you need to build such a passive income stream. And how long it takes to do it?
You need at least one of the following things to build a notable passive cashflow stream:
* Time
* Money
* Effort
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Building a residual cashflow stream...
So, how do you build a residual cashflow stream?
Well, it depends on how much money you need. And secondly, when you need it.
But first, realize that passive income isn't just going to "happen." It's NOT a "something-for-nothing" scheme.
And regardless of how much I'd like to tell you that one morning you'll wake up and have a constant cashflow stream lining your pockets... it's just not going to happen.
Reality is, you will actually have to DO something to get it. And that's to... build assets.
The only way to build a passive cashflow stream is to use your time, free money and effort to build assets. Click here to discover how assets help build your passive cashflow.
Last idea about this passive income definition...
The best thing about building a residual income is...
It makes time available. So, you'll have more time to further increase your cashflow... or even relax.
Source: http://www.cashflowclever.com/passiveincomedefinition.html
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