There is a lot of chatter in the personal finance world about passive income, why you need it and how great it is. But what is it and why is it such a topic of conversation? Passive income is money that you earn without doing much to make it. Some passive income ideas take a degree of upfront work to earn, like writing an e-book and some don't take any effort at all, such as investing with a robo advisor. Today we talk about what exactly passive income is and understanding the non-passive nature of building it.
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Show Notes:
Seated: You nee to use Seated to book restaurant reservations. Every time you complete a reservation, you get a gift code for up to 25% of your bill that you can use at Amazon, Uber, or Starbucks. The rewards are available within 24 hours of your completed reservation. Laura and I almost exclusively eat out with Seated because it saves us so much.
Paribus: Receiving refund checks are our favorite past-time. As it turns out, stores owe you money but they don’t pay if you don’t ask. That’s where Paribus comes in – they go to bat for you. Price drop? Get cash back for the difference. Deliveries arrive later than advertised? Get cash back.
Fundrise: Did you know that investors with 20% allocated to real estate outperform those who only invest in stocks and bonds? Diversify without the dramatics of actual tenants. The minimum investment is $500.
Lending Club:
The banks had a monopoly on personal loans until Lending Club came along. Now you can get a loan sourced from normal people. Reduce the cost of your debt and refinance. Lending Club has competitive rates and borrower benefits.
Drop: Earn cash rewards from your favorite brands. Drop is the free app that's giving out millions in cash rewards for the spending you do everyday.
BizBuySell: BizBuySell is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service. BizBuySell also has one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories.
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