There are many passive income ideas in India, some of which are: Rental income: If you own a property, you can rent it out and earn a passive income from the rent.Dividend income: If you invest in stocks that pay dividends, you can earn a passive income from the dividends. Peer-to-peer lending: You can lend money to individuals or businesses through online platforms and earn interest income. Affiliate marketing: You can earn a commission by promoting other people's products or services through affiliate links.Royalties: If you own intellectual property such as music, books, or patents, you can earn royalties from their use. Real estate crowdfunding: You can invest in real estate projects through online platforms and earn a passive income from rental income or capital appreciation.Index funds: You can invest in index funds and earn a passive income from the dividends and capital appreciation.Digital products: You can create and sell digital products such as e-books, courses, or software and earn a passive income from the sales.
As Warren Buffet once said, “If you don’t make money while you are asleep, you have to earn till you die,” passive income has become necessary to survive the turbulent economic conditions today.
In a rapidly changing economic environment, the need for passive income ideas in India is increasing. The question here is, what is passive earning? Passive earning is the earning from the sources you are not actively involved in.
You can say that passive income is your secondary income. This income can come from your assets, financial investments, side hustles, businesses, etc. You don’t have to actively invest your time in earning money, as passive income involves generating money from existing assets or money itself.
According to CNBC, about 39% of worldwide income is earned by the top 1%. Moreover, 29% of their money comes from investments, which can be considered passive income.
However, the top 0.1% of income holders of the world are much more dependent on investments; they rely on them for a staggering 35 percent of their income.
Hence, passive income is money you can earn that does not demand much active work. You only need to give some additional effort to earn from sources of passive income.
It saves time
Time is one of our most valuable resources. Time is a limited resource that cannot be earned, like money. Passive income allows you to spend your limited time doing things you choose rather than just finishing tasks to pay the bills. Having passive income ideas in India is hence very important to save time.
Helps to pursue passions
Your ability to follow your passions or participate in charitable activities that benefit society may be facilitated by passive income, which could lead to a better quality of life. As a result, you have the chance to develop relationships with others and your environment that are deeper and more meaningful.
Reduces financial stress
The stability of passive income reduces the anxiety associated with being unable to pay bills. Financial support and long-term stability are provided by passive income, giving you the financial momentum you need to efficiently manage your personal finances, your time, and your assets.
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Passive Income can assist you in realizing your goals.
While passive income does necessitate some effort or funds upfront, you can take advantage of that investment with little to no effort later on.
We have got some Best Passive Income ideas that you can start in 2021.PPT
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