Introduction
The term passive income may be new to many, but those who have heard the term before understand that it means I will work once and get results many times over. I will try to talk in a little detail about whether such work is done or whether passive income is possible for people at all.
General Income and Passive Income
General income means that whenever you work, you will get immediate results and no results will exist in the future. When we read the definition of Present Perfect Tense as a child, we read that a work is done now but its results still exist. Tomorrow is called Present Perfect Tense. Whatever it is, when a day laborer works, when his wages are paid on that day, then he does not expect to get any reward for this work in the future. When an employee gets paid at the end of his job, he is getting the value of his work. Or if I talk about a trader who sells a product and immediately gets a dividend.
Source: Image by Nattanan Kanchanaprat from Pixabay
In all these areas I have talked about, people have had to work hard or work, but the results of the work did not bring him results in the long run. If the work is done once but the results will be repeated in the future, then the income of such work is called passive income.
Some examples of passive income
Passive income is also called royalty income by many. I will give a few examples then the matter will be more clear. Like an author wrote a book or wrote a book of poetry by Rabindranath Tagore, now he has done it once but then for a long time these will continue to be printed and sold and he will continue to get commission from it. It is a kind of passive income which means that once he has done the work, he will get the results again and again in the future. Maybe in his absence the results will keep coming. Many times when different scientists invent something and patent it, then if a business organization or someone does business using that formula, they have to pay a certain amount of money to that scientist for the discovery. It is a kind of passive income. Again, maybe you have saved some money with a lot of effort and when you keep that money in the bank, you are getting some money every year in the form of dividends or profit. This is also a kind of passive income. That means you can earn without working or without time. When someone builds a house, he automatically gets rent from the house for a certain period of time (as long as the house lasts) and this is also a kind of passive income.
Current Passive Income
In the current context, if you have a YouTube channel and if you teach something educational there and if people watch it from generation to generation, you will continue to earn a certain amount from it. This is a passive income in the current context. We hear about various affiliate marketing jobs, which means you refer many people to a job and as long as they work, you will have a certain amount of income. It is also one of the best passive income of the present time, meaning that if you introduce someone only in one place, you will be able to earn income from it, through their work. (I personally don't support it in many cases, but in some cases it's okay). Many times we see those who insure with the insurance company take passive income i.e. those who insured are paid a certain proportion of the premium as long as they pay the premium. This is also a passive income for that person because if the insurance premium is 20 years then he will continue to get income without doing any work for 20 years. There are many more examples like this but there is a hidden reason behind saying so much which I am going to say now.
We may not live in this world, but if we do something good that people can get even if we are not in this world, then we can get some reward after death. For example, if a teacher teaches some students, this new knowledge may be used by students throughout their lives, as I have taught students in textile engineering, and when students go to work in different factories in Bangladesh, they contribute to the country's economy. Can keep Many of them went into the teaching profession and spread their education and experience through others and in this way their education would bear fruit for the nation in the future. It’s a good thing in my opinion that continues.
Source: Image by Pexels from Pixabay
When we teach someone something through online media, the time is such that my time is multiplied many times. I can teach maybe 60/70 people in my class. I might have to spend 1 hour to teach these 60/70 people, then only 60/70 people got benefit from one hour time. But if I teach something on YouTube or online for an hour, people will be able to get the results for a long time, that is, thousands of people can benefit from this one hour time or go there. This is the use of technology and by using it we can increase our time as much as we can, we can increase our work many times and get results and in our absence we can expect results from here.
Final Words
We will not live in this world. Let's all try to do some good work together or arrange income so that after a certain period of time I can sit back and reap the benefits and earn money. For example, if someone withdraws half of his money, one day his HP will be much higher and he will be able to earn money in the form of curation without working from there. This can lead to passive income in the future for current work. Goodbye everyone and thank you so much for reading my article.
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This is Sayful
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