Earning money for doing very little work is something many people strive for. Thankfully, this is a possibility when earning passive income.
Passive income is defined as income gained with minimal or no regular effort. The IRS officially recognizes two types of passive income: trade/business activities in which you don’t materially participate, and rental activities even if you do materially participate. Passive income can be obtained with even the smallest amount of money, but much like anything, it is better when you have some money saved up to put towards it.
Passive income can be divided into various categories, with this infographic highlighting finance, real estate, web, creatives, and other ventures.
For example, on the finance side, you could potentially gain dividends from owning company stock. For people who are interested in investing in the stock market, this is likely your best bet. Meanwhile, on the creative end, you could get into video advertising or app creation. The possibilities when it comes to passive income are endless.
We here at Daily Infographic encourage everyone to find some sort of way to earn passive income, so be sure to check out another one of our infographics regarding the more ways to work on that side hustle!