Simple Differences Between Side Hustle and Passive Income You Need To Know
Bonus: 7 side hustle ideas at the end of the post
What's the fundamental difference between side hustle and passive income?
(Success in life is directly proportional to being clear with your fundamentals)
Q: Can anybody make passive income?
A: YES
Q: Is "trading in the stock markets" a side hustle or a source of passive income?
A: NO
Confused? Keep reading and get the clarity you're looking for (read: NEED)
If your time/ effort/ capital involvement is needed and is directly corelated to the returns you will make, you're in a side hustle.
Passive income (as the term suggests) is when you sow the seeds of a product/ service and the ecosystem of the marketplace, marketing, and community helps you generate a predictable income.
For example, you shoot one video and upload it on YouTube, every time an ad is played before/ during the video, a slice of the revenue generated enters into your bank account.
However, for you to make money from stock trading (if that's even possible) you will have to continue to invest your time, energy and money to analyse your trades, enter and exit from trades and hopefully make a profit.
One trade won't (read: can't) generate income till the end of time.
Here are 7 reliable passive income opportunities for your consideration:
1. Rental income
2. Business investments
3. Stock images/ videos
4. Software/ apps
5. Content Marketing
6. Write a book
7. Affiliate income
Next time when someone tries to con you by offering you a "lucrative opportunity" to make passive income by trading/ selling/ marketing something, you will know you're dealing with a fishy person.
Keep your distance from the fish floating in the markets and find a skill/ way that can help you generate passive income.
Have you ever been (almost) trapped by someone trying to sell you a "life altering deal" that can make you millions? Did you take the bait, or did wisdom prevail?
Happy to continue this conversation, so feel free to ask your questions and share your thoughts and more ideas around the subject 👇🏻
Keep Going Keep Growing 🚀
Thank you for reading the full post. Since you read this till the end, it’s safe to assume you found value in the content.
Please consider sharing this post with your audience on social media. You may end up helping someone who’s struggling in their career/ business because they don’t understand the importance of building their personal brand.
I’m sure if you think hard, you will easily come with a few names who you know must read this.
Share this with them, help them and earn your blessings.
P.S.: Image made on Meta AI using the prompt, “Imagine two Indians in their 20s. One is working really hard in front of a laptop screen looking stressed trading in stocks while the other person is chilling on a couch listening to music on their premium headphones and checking something on their phone.”