Hey guys welcome back, today I want to talk about something that all of us want "income." No matter how you make, your income will fall into these two categories, active and passive.
You must have studied active and passive voice in grammar, active and passive income are completely related to that. In active voice, the doer is the subject and in the passive voice the doer is the object, just like that Active income is the income that you get by doing something and Passive income is something that you will get even if you don't work.
Let's understand each of them with an example, as I have already mentioned active income is what you get for how much you work. Think that you work in a company an IT firm. You will get paid for how much you work, and if you don't work for a month for any reason you will not get paid or you may get fired.
On the other hand, Passive income is what you get for what you build. To generate passive income you will have to work hard once, but when that's done it doesn't matter whether you are working or not. You may be on a world tour with your family and generate a lot of revenue at the same time.
We see that all the rich people don't work, at least this is what we see. These people are going to seminars, visiting other countries, etc. their income never stops.
Amazon's founder Jeff Bezos earns ₹1,63,30,153.47 per minute it doesn't matter that he is sleeping or is on a world tour.
Now we all can understand that passive income is better than active. But the question arises that how can we generate passive income.
It's really simple, no rocket science. You need to INVEST if you are working and if you are not then you need to build something that can make you money.
Of course, investing is not the best way to generate passive income but it's the only way for salary class. Invest in real estate, the rent of that house will be your passive income. Invest in stocks that way your money will work for you.
Building a company is tough but we should not forget that every big company started in a garage. It's the only way to earn big and when I say big I mean Jeff Bezos, Mukesh Ambani, Bill Gates type of money
"The poor and the middle-class work for money., the rich have money work for them."
- Robert Kiyosaki