Passive income strategies are financial strategies that create ongoing streams of income with little to no action on your part. The most popular strategies include dividend-paying stocks, digital products like eBooks or online courses, rentals, affiliate marketing, and peer-to-peer lending. These strategies allow you to earn money while you sleep, build wealth for the long term, and achieve your financial freedom. Deciding on a passive income strategy will depend on your current investment, your risk tolerance, and your personal skill level. If you put in the work in planning and implementing that plan upfront, passive income is a viable source of income for the long term.
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