Earning money without having to do anything for it – that sounds too good to be true. In fact, there are a few ways you can build passive income.
Imagine if you could make money without working all day for it. You could enjoy your life while your earnings keep pouring into your account. It might sound almost too good to be true, but it’s definitely achievable: that’s passive income.
Passive income is not a myth, but a proven method to build sustainable wealth. There are numerous ways to generate passive income – from real estate investments to dividend stocks to various online business models.
In theory, almost anyone can create passive income. What do you need for this? Knowledge and the will and patience to implement it. Business Insider spoke to three financial professionals who have managed to build passive income. We asked them: What would you do to build a passive income of 500 euros per month? They share their tips here.
Build capital first, then invest
A popular way to build passive income is peer-to-peer lending, colloquially called P2P. These are loans that are granted directly by private individuals to private individuals. Online platforms act as intermediaries. Simply put, this means: you lend money to a private person, who pays you back the amount plus interest. You play the role of the bank, so to speak.
2023-08-03 21:45:03
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