Passive income is money earned with minimal ongoing effort. It is a powerful tool for building financial independence.
Common passive income sources include dividend-paying stocks, rental properties, and index fund investments.
Digital products, such as online courses or e-books, can also generate ongoing income streams.
Real estate investment trusts (REITs) offer exposure to property markets without direct ownership responsibilities.
Building passive income requires upfront investment of time, money, or both.
However, it can significantly enhance long-term financial stability.
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