Introduction
Passive income has become a buzzword in recent years‚ as more and more people strive to escape the 9 to 5 grind and achieve financial freedom. The idea of earning money while you sleep or lounge on a beach is undoubtedly appealing‚ but with the increasing popularity of passive income‚ several myths and misconceptions have emerged. In this article‚ we will debunk these myths and explore what really works in the world of passive income in 2023.
Myth #1⁚ Passive Income Requires No Work
One of the biggest misconceptions about passive income is that it requires no effort. While passive income streams can generate money without your active involvement‚ setting them up and maintaining them does require initial work and ongoing management. Whether it’s creating and launching an online course‚ writing an e-book‚ or building a rental property portfolio‚ you need to put in time and effort to lay the foundation for passive income.
