What is passive Income:
Passive income is income that can be earned passively, meaning it does not always require your presents or activity.
Example:
- A super common example of someone making passive income is someone who owns a property or piece of equipment and rents it out for a say weekly or monthly charge.
Each week / month this person will get "rental Income" from that customer or tenant without having to actively go outside and work for it each time.
Why Its Important:
Passive Income is very important when it comes to becoming financially free in the UK because it means your earning money without trading your time for example if you stopped working your 9-5 job your passive income will be there to cover your bills, grow your wealth & have the freedom to live & travel on your own terms.
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