Passive income is any money people earn without active involvement, like dividends, rental income, or book royalties. Incorporating multiple streams of this type of income to earn cash while you do other things is a smart strategy to add effortless earnings to your bottom line. These streams initially take time to set up but continue to provide income over time without additional work.
A well-organized portfolio can help you make your money work for you. Stocks are a great place to start no matter how old you are or what kind of income you’re working with.