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WorksheetsPassive Income
Total questions: 23
Worksheet time: 15mins
Why is passive income important?
Because it shows you want not to do in life
Because most wealthy people create passive income
Because it is hard to become a millionaire without it
Because your time is your most valuable resource
How do you get passive income
Investing income producing investments
Renting out your car, driveway, or a room.
Selling a book, course, or webinar online.
Lending money to peers and charging interest.
Most people build passive income while...
Sitting in Jail
Working at a job
Running a business
Sitting at home with their kids
Passive income means...
You don't have to do any work
You have to do very little work
You gain more time freedom than you have with active income
Can be a challenge to set up but can give you money while you sleep with little effort
Passive income gives you time which most people use...
To spend time with people they care about
To be lazy
To work at things they are passionate about
To buy luxury items or travel
Only extremely smart people can earn passive income
True
False
Three things that can help you have more time to learn about creating YOUR OWN passive income
1 Hour of Social Media Time
1 Hour or Netflix or other TV/Movie Time
Hanging out after work/school with Friends Every day
Time studying to graduate high school or college
Most Millionaires have at least _ number of Passive Income Streams
3
5
8
12
Time Freedom is a Benefit of Passive Income
True
False
Other Benefits of Passive Income Are...
Reduced financial Stress and Anxiety
Give you the ability to spend time doing/learning about things you love.
Allows you to work and live Anywhere!
Let's you spend without a budget
What kind of stocks provide Passive Income?
Dividend Stocks
Penny stocks
Common Stocks
REITS (Real estate investment trusts)
What kind of businesses pay passive income?
Real estate crowdfunding
Vending Machines
Affiliate Marketing
Tool or Space rental
Where can you learn more about passive income
Youtube
Tiktok
Financial News & Magazines
Library
How long does it take to set up legitimate passive income of $2000+ when starting with Nothing?
0 to 30 Days
3 to 6 Months
1 - 5 Years
5 Years or longer
How long does it take the average "Overnight Millionaire"?
Overnight
1 month to 1 Year
2 - 5 years
10+ years
Most people _________ what they can accomplish in 1 year.
over estimate.
Think they can do more than they can
under estimate
Think they can do less than they can
Most people _________ what they can accomplish in 10 years.
over estimate
Think they can do more than they can
under estimate
Think they can do less than they can
Most people are able to set up their first passive income stream in ...
1 month
1 Year
5 years
10 years
If someone promises to get you passive income with now work its most likely..
a scam
Not true
A dream come true
A great connection
Renting tools (car, cookware, mechanics, etc) is considered...
Passive income because when someone is renting you get paid w/o working
Active income because you have to get people to come and rent from you.
Investing because you have to buy the tools to rent out.
A business because you are making money independent of working for someone else
How is a side hustle different than passive income?
Side Hustle is active work you do when opportunity is available
Side hustle is usually active income
Side hustle is different because it is work you do on the side of passive income
Side hustle is different because you gotta be smart to do it
What are some common side hustles people do today?
Uber/
Lyft
AirBnB/
VRBO
Handyman/
Lawn Care
Blogging/ Babysitting
You can earn income in these ways now...
Active Income -
A job or business
Passive Income -
Investing or renting
Side Hustle - Doing odd jobs outside of your active or passive income
All of the Above
