Passive income is defined as an income received on a regular basis, with little effort required to maintain it. In other words its money that you keep getting over time without having to work for it.
There are three main types of income, including; active income, passive income, and portfolio income. Passive income is defined as income from "trade or business activities in which you do not materially participate." This basically means income you earn without having to do anything to maintain it.
The most common types of passive income include:
*Earnings from a business that does not require your involvement
*Royalties from publishing a book or from licensing a patent
*Earnings from internet advertisements on websites
*Residual income, or repeated regular income earned by a sales person, generated from the payment of a product or service, that must be renewed on a regular basis in order to continue receiving its benefits
*Dividend and interest income from owning securities, such as stocks and bonds
Most of these types of passive income require a lot of time and money up front to build. Most of them would take a large investment that many people don't have. That's why earning passive income online is becoming more popular. Building websites is very inexpensive and can be a great way to earn passive residual income without much time or money.
Unfortunately, making money online is no easy task. Most people simply don't know how to build a website, monetize it, and get traffic to it. Plus, most sites require a lot of upkeep to maintain the traffic and income. These hurdles cause most people to simply quit or avoid making websites in the first place.
What most don't know is that there are some very simple ways to create cool, dynamic, and profitable websites that will continue to bring in visitors and money with little to no upkeep. The best part is you don't need to write any code or know any programming languages at all. New software scripts have made it so simple, that even someone with the most basic computer skills can create flashy and attractive websites in just a few hours.
Plus, by using simple scripts, it is possible to keep your websites automatically updated with fresh related content every day, without any human interaction. This truly makes this a fully automated passive income opportunity.