13 Best Passive Income Ideas by Ujjwal K.

While it’s possible to earn $10,000’s per month in passive income, you might have to put in upfront work initially.

Passive income is a great way to produce extra cash flow while filling in the gaps that your regular 9 to 5 job can’t seem to manage.

Especially after the economic turbulence caused by the COVID-19 pandemic, it’s essential to start earning passive income.

And in this guide, I’m going to show you the best passive income ideas in 2023.

What is Passive Income?

There are 2 types of income:

• Passive income – Earn money while you’re spending time doing something else
• Active income – Earn money while actively performing a service

Passive income is often seen as the more desirable of the 2 types of income because you could literally make money while you sleep.

Active income, which arguably is the more common type of income, is when you trade your time in exchange for a paycheck.

How Much Passive Income Could You Earn?

How much you earn from passive assets is completely up to you.

Below are some factors that go into determining how much you can earn:

• Your effort
• Your patience
• Your consistency
• Your initial monetary investment
• Your time spent setting up this passive asset

In reality, you can make as much or as little from your passive income sources.

Start building multiple streams of income early to reap the benefits later.