For most of my life, I have been working to produce active income. In other words, like most poor slobs on the planet, I worked for a living. I got paid for what I produced. In my case, this was mostly in services rendered: advisory services, management services, consulting and teaching. I didn’t think much about creating passive income.
Passive income? Passive income is generated from assets that themselves provide a return. That might be in royalties, rentals, or just appreciation. So you might ask, just how does one develop strategies for producing passive income? If this interests you, here is a nice blog post on the subject.