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Name a billionaire. Most likely, he or she is earning income passively.
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If there is one way many peole have dreamed of making money, it is by making it passively.
The key to truly generating passive income is by putting it in one, lucrative place and watching it grow exponentially, says Entrepreneur Network partner Phil Town. To start growing income passively, you should look into investing.
Investing in businesses with a solid moat around them, or which have built a solid ecosystem around their products, can make money for its investors by paying back a rate of return of 20 percent, a real rate that Apple does, in fact, pay its investors. So, if you are investing in your money in a worthwhile business, then you can very well see your money grow, year after year, without much of your help.
Click the video to hear more tips.
Related: Why Investing in Big Tech Companies Shouldn’t Be a Complete No-Brainer
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