Once in a while, I'll read about small business and personal finance. I came across the term "Passive income". I love this term. My understanding is that passive income is a way to make money while not actaully working. I often think about this term when I plan to maximize my income as a psychologist.
So, what are some of my thoughts? Certainly books are a great way to create passive income. I am not talking about vanity press books, either. I mean books with a publisher and royalties. Secondly, becoming good at public speaking and creating a DVD of a presnetation. Once the DVD is created, it can then be offered as a CEU course.
Also (and this is something I continue to struggle with), being responsible with personal finance. I think it was Robert Kiyosaki who said that you should look at your money as "little employees." In other words, invest the money you can and have your "little employees" work for you. If money is working for you, it's hopefully going to to create passive income.
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