Just a heads up, not all of these are "passive income". Be careful with that term. It has profound tax implications.All of the above are merely "secondary income".
When you are providing a good or service for a fee, that's active income. Finding bugs for bounties or selling SaaS is not passive income.
Writing a book or course and collecting royalties, on the other hand, would be considered passive income. So would renting out a home, even though you'd have to maintain it.
Active vs. passive income has nothing to do with effort. Talk to a licensed CPA.
Related, but I found it amusing it started with a picture of Warren Buffet and then listed a bunch of jobs. I'm not sure about the context of the quote, but I doubt that's what the "Oracle of Omaha" meant.
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Just a heads up, not all of these are "passive income". Be careful with that term. It has profound tax implications.All of the above are merely "secondary income".
When you are providing a good or service for a fee, that's active income. Finding bugs for bounties or selling SaaS is not passive income.
Writing a book or course and collecting royalties, on the other hand, would be considered passive income. So would renting out a home, even though you'd have to maintain it.
Active vs. passive income has nothing to do with effort. Talk to a licensed CPA.
Related, but I found it amusing it started with a picture of Warren Buffet and then listed a bunch of jobs. I'm not sure about the context of the quote, but I doubt that's what the "Oracle of Omaha" meant.