Getting Rich With Passive Income

What is Passive Income and how can you create it?
Passive Income are income that comes in monthly or yearly and usually it does not requires your presence or effort anymore.
It is created by your past effort in the form of putting in your time or money. The question is, can you achieve financial freedom with it. Well, it depends. Financially free and being Rich are totally different, you can actually achieve both.
Say if you have created a passive income on $10K a month and that you are living below your means, that is below $10K a month, you are literally "Financially Free". You don't have to go to work anymore simply because that $10K monthly is enough to support you. If you ever want to raise your standard of living, you will have to create more passive income.
Become Rich with passive income is different, it requires tremendous amount of effort and it is totally a different mindset. The numbers have to be bigger. You can also create multiple sources of passive income. There are many ways to create passive income but they generally fall into three categories or alternatives, let’s examine the available alternatives by which you can achieve them:

1. Interest or dividend earn form investments
2. Invest in real estate to collect rental.
3. Businesses that do not require your presence

Sound simple and looks like everyone knows it and how come you don't have it? Knowing is one thing, do it and creating them is another.
It requires hard work and patience to work it through. I'll be discussing them with you the details on my next post.