What Is Passive Income?

What is Passive Income?  The Definition

What Is Passive Income? Answer = income earned on a regular basis with minimum effort required to maintain it.

Notice I said minimum there not zero.

So many of us are used to just getting an ‘income’ which means we are trading time for money.  ‘Income’ means dragging yourself out to a job or bricks and mortar business and exchanging your precious time for a financial reward.

This is what we’re taught to expect and aim for when we’re at school.  Work hard, get an education, get a job, exchange time for money and then retire.  It certainly came as a news flash to me when someone told me about ‘passive income’ and what it really meant to actually get an income without having to simply trade time.

Believe it or not, it was my hairdresser who introduced me to this concept quite some time ago.  There I was thinking I was very worldly wise about the world of work and business when she suddenly said to me, ‘But Rachel, have you seriously never heard of passive income?’  

And the honest truth is, I never had.  That’s why I want to share the knowledge and shorten everyone else’s entrepreneurial journey by spreading the awareness.

You hear everyone saying that ‘time is money’ but they are completely separate things!

What Is Passive Income?  How Do I Get It? [The Hard Way]

There are a number of options, some of which you probably have heard of and some you may not.

Some of the traditional passive income routes are: –

  • Being a landlord.  In other words you need to own property in order to let it for rental income.
  • Investments.  Money you invest into low, medium, high risk investments and which you ‘hope’ increase in value.
  • Creating courses.  You create a course in your own ‘niche’ [eg photography or yoga] and you can sell that same course to your audience of potential students.

However, the examples I’ve provided have their pitfalls.  

Being a landlord can be like having a weight around your neck from a legal and financial point of view.  The tenants can give you hell and properties, as we all know, need constant maintenance.  You also need a property to rent out in the first place which can be a financial burden in itself.

Investments are like gambling and you can lose spectacularly just as easily as you can win big.  It’s a bit scary and unless you can afford someone who can advise you really well, it can be a minefield of information and mistakes.

Creating courses are a more recent phenomenon and they do require skill and ‘know how’ from a technical point of view.  There are a number of components that need to be pieced together and unless you’re lucky and know someone who can give you the necessary insight, it is a fact that many online courses simply don’t succeed.

Therefore, read on if you want to make life a whole lot easier.

What Is Passive Income?  How Do I Get It? [The Easier Way]

Affiliate marketing is one of the easier ways of acquiring passive income.  Notice again how I didn’t say ‘easy’, it still requires work.  You don’t need a physical shop or a physical product to sell.  You simply sell other people’s products to your own ‘list’ of subscribers.

It’s a well known fact that the ‘money is in the list’ and even more so in the follow up.  The list is simply the people you have attracted to sign up to your email autoresponder list.  I use Aweber which is a fantastic way of simplifying the way you send messages to your list.  You don’t have to send 100 emails to 100 people, you simply send 1 email to 100 people and that’s where an autoresponder like Aweber comes in.  It is truly the best way to leverage your time to the maximum.

Learning how to be an affiliate marketer does require education and training.  I chose The Super Affiliate Network to show me how to become an affiliate marketer and you can do the same.  Click here to access your route to passive income and stop exchanging time for money.

What is Passive Income?  Why Do I Need It?

You need to start earning passive income if you’re sick and tired of: –

  • Your daily commute
  • People telling you what to do
  • People telling you when to do something
  • Feeling like you need to clone yourself
  • Feeling like you’re neglecting your family
  • Feeling like all you do is work
  • Being exhausted and always low on energy
  • Just existing day to day instead of actually living
  • NOT having enough time ….

Some or all of the above bullet points will resonate with you because what you actually want more than money is FREEDOM.  Earning passive income through affiliate marketing is a real possibility [not a ‘Get Rich Quick scheme, remember] and in this day and age of digital technology, where leveraging the internet has never been quicker or easier, you really don’t need to look any further.

More freedom means not just more wealth but better health too and that’s something nobody can put a price on.  Life is actually longer than you think so you want to live it well.  Freedom means different things to different people but actually ‘living your life’ could mean more travel, more time with your family or just spending the time you have on your own terms.

Who doesn’t want that?  Please do  send me a comment!

Life Hack Tip of the Day: What Is Passive Income? = Take A Risk Free Opportunity

Earning a sustainable and ethical passive income requires an education, effort and action.   For just a $1.00 trial you can get on the ‘inside’ and try out The Super Affiliate Network with a risk free, 100% money back guarantee.

You don’t get much for $1.00 these days.  I talked about taking risks in a previous blog and I’d say this was a pretty good calculated risk where you have nothing to lose and everything to gain.

Click here and start your journey to freedom right now.

What Is Passive Income?

I wish you every success for your digital future!

Rachel A Hill LLB [Hons]

Digital Entrepreneur, Lawyer, Private Tutor and Author

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