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Passive Income Streams is a beginner’s guide to leaving the nine-to-five rat race and building a financial future for yourself using multiple streams of passive income developed from the ground up and integrated together. Because many of us who have started out in passive income only had very limited resources, we will focus heavily on keeping the costs to a minimum while also discussing the options of outsourcing certain tasks to help maximize time and energy on what’s truly important.
The concept of passive income can be explained in fairly simple terms: earn money while you sleep. While passive income doesn’t mean you won’t be working hard, it does mean that the amount of money, time, and energy put into a project is not paid back in a direct manner. Instead of being paid by the hour, you will be creating a valuable service or product and you earn your compensation down the road for hard work already completed. Hopefully, this continues to produce for an extended period of time even as work has winded down on the projects.