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All products and services are presented without warranty. Passive income is highly sought after and often misunderstood.
By Monica Anderson and Madhumitha Kumar Thirty years after the debut of the World Wide Webinternet use, broadband adoption and smartphone ownership have grown rapidly for all Americans — including those who are less well-off financially. But even as many aspects of the digital divide have narrowed over time, the digital lives of lower- and higher-income Americans remain markedly different. And a majority of lower-income Americans are not tablet owners.
Passive income streams require an upfront investment and a lot of nurturing in the beginning. After some time and hard work these income streams start to build and are able to maintain themselves, bringing you consistent revenue without much effort on your part.
Speaking from personal experience, adding passive income streams to your portfolio can help you increase your earnings and accelerate your financial goals in tremendous ways.
For example, you can use passive income streams to help you get out of debt or achieve financial independence sooner.
If you want to skip straight to the ideas, here you go: 30 Best Passive Income Ideas.