The Secret to Building Wealth With Little Long-Term Effort

Who doesn’t want an extra source of income or some extra cash to splurge here and there? Well, passive income is the best income stream that you can have. It’s cash flow without considerable effort.

Passive income is all about money making money 24/7. You know the famous make money while you sleep idea.

It’s about buying money-producing assets and investing time to build products that generate income without future effort.

Truly Passive: Purchase and Forget It

Passive income that is always passive is usually found in the form of investments. With this type of income, you make a purchase and forget it.

There are two main ways to make money from stocks. First, you can start investing. Purchase and forget it. Then make money when you sell the stock down the road through capital gains.

Income From Stocks

A Bond Ladder

A bond ladder is a portfolio of multiple bonds that mature at different times. When the bonds mature, you can reinvest the returned principal in new bonds and start a new ladder or continue adding on to your current one.

For example, you can loan banks money in the form of a high yield savings account, and you can lend businesses money in the form of bonds.

Income From Interest

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