Did you ever wanted to have an additional passive income, that would add 500$ to your bank account each month? Well so did I. I am not saying it is easy money but it is something everyone could do if he would put enough work in it.
What is passive income?
Passive income is an income where you don’t need to work actively do continue earning money. In other words you don’t exchange your time directly for money you earn. The income is based on work you already did and even if you don’t do any work for some time, you will still earn some money. Usually it requires initial investment of time and money and once this source is set up it will generate income for some time. Some source can generate income for decades and some only for couple of months. Everything depends on what kind of source you have created..
Here is a good article about how to create multiple streams of passive income. As you can read for yourself, there are different types of incomes you could create for yourself in addition to you regular job. This can create additional security for you and your family and can even help you become a digital nomad.
If you could earn let say 1000 dollars per month you could travel the world with that money and stay in cheaper parts of the world for longer periods. As long you have your internet connection you can earn money online and travel the world in the same time.
Here is a good video on this topic