Passive Income

Passive income for freelancers refers to earnings derived from sources that do not require active involvement, such as royalties, affiliate marketing, or selling digital products. Generating passive income can help freelancers to stabilize their earnings.

What is passive income?

Passive income is money earned without actively working for it. It is income that is generated from assets or investments that require little to no effort to maintain.

How can freelancers generate passive income?

Freelancers can generate passive income by creating digital products such as ebooks, courses, or templates that can be sold repeatedly without additional work. They can also invest in stocks, real estate, or other assets that generate income without requiring active involvement.

Is passive income reliable?

Passive income can be reliable if the source of income is stable and the investment is made wisely. However, it is important to remember that there is always some level of risk involved in any investment.

What are some examples of passive income streams?

Some examples of passive income streams include rental income from real estate, dividends from stocks, interest from savings accounts or bonds, and royalties from creative works such as books or music.

What is Workmade?

WorkMade is an all-in-one banking and accounting app designed specifically for freelancers! WorkMade gives you access to: zero-fee business banking, automated bookkeeping, fast and easy invoicing, and quarterly tax estimations and payments.

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