what you must know about passive income

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Passive income refers to earnings derived from a rental property, limited partnership, or other enterprise in which a person is not actively involved. Some common types of passive income include:

Dividend Stocks: Investing in dividend-paying stocks that provide regular income.
Real Estate Rentals: Owning property and earning rental income.
Peer-to-Peer Lending: Providing loans to individuals or businesses through online platforms.
Royalties: Earnings from intellectual property like books, music, or patents.
Affiliate Marketing: Earning commissions by promoting other companies' products or services.
High-Yield Savings Accounts: Earning interest from savings.
Automated Online Businesses: Websites or e-commerce stores that require minimal maintenance.
Building passive income often requires an initial investment of time or money, but the goal is to create a source of income that requires little to no ongoing effort to maintain.

Okeke Innocent c ✍️

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