1 week ago
Passive income is simply a stream of earnings acquired without exchanging time in hours. In other words, money that comes to you, without you doing work for it. Once the structure of the particular business is in place, the income will continue to pay, with minimal (or even no) effort on the part of the owner. It is, of course, a great idea to include a passive income flow as part of your overall retirement plan.
When it comes to real estate, a passive income is achieved through acquiring properties and then renting them out. The rental income should cover the costs of paying the mortgage, as well as insurance, management fees and any other maintenance requirements.