LIVING THE DREAM? Is it possible to quit your day job and live off passive income? joybenedict talks to two entrepreneurs who say its within reach, with hard work and a lot of passion.
Chang has a YouTube channel on personal finance, and now earns about $2 million a year in what's called"passive income."The personal finance guru says he grew up super frugal, and that's how he learned to care about money. He says one of the best ways to earn passive income is to start a business from scratch online. Chang's method is to make videos about investing in stocks for beginners, uploading them online, and watch a percentage of revenue from YouTube ads roll in.
But not all passive income is earned online. Richards is an author and investor who bought her first rental property with her ex-husband in 2017. As a former financial planner, she kept getting questions about finances — so she self-published"Money Honey" on Amazon, and it has since become a best-seller.
"The way I define passive income is it's money earned with little to no ongoing effort," Richards said.
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Passive income: What is it and how can you get started?LIVING THE DREAM? Is it possible to quit your day job and live off passive income? joybenedict talks to two entrepreneurs who say its within reach, with hard work and a lot of passion.
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