You receive a percentage of what they receive for every copy sold. They send you royalty checks twice a year based on sales of the book. The publisher gets your book into bookstores and also sells it online. Now suppose you write a book and sign a publishing deal with a book publisher. You do this on a “work for hire” basis, getting paid for each job you complete. You market and sell your services to people and businesses. Now suppose you offer your writing skills as an independent contractor. If you stop writing in this scenario, you’ll stop getting paid. You would receive a wage from your employer for the service you provide. You could get paid to write articles which your employer publishes and owns. One way to earn active income would be to get a job writing for a magazine or newspaper. You can do many different types of work and use passive income strategies to monetize your work. It doesn’t necessarily dictate any particular choice of careers. Passive income is one strategy among many for earning money. Once your new income stream is launched and the passive phase begins, you may not have to work very much at all beyond that to maintain the stream. Initially you work to create and/or leverage a system that generates a flow of income long-term. With passive income you’ll often get paid nothing at first. If you stop working, your paycheck stops as well. Your ongoing pay depends on your continued presence at work. You may receive an hourly wage, a salary, and/or bonuses for the time you put in at work.

With a typical job, you’re more or less directly trading your working hours for dollars. Let’s talk about the reality of what it’s like to create streams of passive income and how it compares to working at a regular job.

Passive income jobs