In one of my earlier Money Crashers posts, I talked about how to reach Financial Independence by saving up enough money to live on your investments alone. The basic idea here is that the interest you earn from your investments provides "passive income," which you get without having to life a finger, and if you have enough of it, you no longer need earned income, the kind you get by showing up to work every day.
However, one point I didn't really discuss in the article is that investments aren't the only way to earn passive income. You can also receive ongoing payments for work you've already done, or for rent you charge on something you own. So in my latest Money Crashers article, I talk about the various other ways there are to earn passive income, including rental properties, residual sales income, sales of creative works, various ways to monetize a website (through ads, affiliate marketing, or subscriptions), car advertising, and earning cash back when you shop.
As I note in the article, you probably won't get rich doing any of these things, at least not without putting in a lot of work up front - but having one or more of these passive income streams to add to your investment income can get you to FI faster. And in the meantime, it gives you a nice cash cushion for emergencies.
9 Passive Income Stream Ideas & Opportunities to Make Money
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