Passive income is a form of income that requires little to no effort to maintain. It is often generated from investments and other sources which, once set up, require little to no maintenance on the part of the investor. Common passive income streams include royalties from art or literature, stock dividends, rental income from property, and dividends from investments. Passive income is attractive for many people since it often requires little to no effort to maintain and can provide a steady stream of income.
In the freelancing world, passive income can be generated through the sale of digital goods such as ebooks, online courses, and other materials. Freelancers who create these products can continue to benefit from them even after they are initially created. Additionally, freelancers can also generate passive income through affiliate marketing and advertising campaigns. Affiliate marketing involves promoting or recommending services and products of another company in exchange for a commission. The freelancer can generate income through the commission while the company enjoys the benefit of increased brand awareness.
See also: Side-Hustle
