What are the benefits of a passive income
Compared to your job, passive income is a critical element of financial independence. It helps both businesses and individuals build their wealth and improve cash flow, leading to increased financial stability and security. In effect, passive income increases bottom line profits, saves time, and expands a business’s reach. For some entrepreneurs, passive income allows for location independence, as in the case of digital nomads. Other benefits of passive income may include less stress, time to pursue other projects and passions, and early retirement.