First of all, what exactly is passive income?
It refers to money earned that does not require you to physically and actively pump in time in order to get money out. For instance, seeing patients clinically is not passive. Performing procedures is not passive.
What are some examples of passive income?
• Dividend paying stocks or funds
• Investing through retirement accounts
• Passive real estate investment through syndications, crowdfunding, REITs
• Book writing
• Business partnership or ownership such as surgery center co-ownership
• Peer-to-peer lending
• Affiliate marketing
• House hacking
• Rent out your car
• Rent out your backyard/ swimming pool
• Invention with royalty payment
• Podcasting
