Is Business Better For Passive Income

[Nomad]

If you look at the list of most successful or rich people, you will see most of them have businesses. Only few people in the richest people list are investors. Therefore, starting a business is a better long-term path to earning wealth compared to investment. But sadly, business requires a lot of skills, knowledge, and experience. You can start investing immediately when you have money but building a profitable business take a long time.

 

[Starmix]

While it's true that building a business is a tricky thing. It requires patience, resilience, long tolerance of stress and consistency unlike in investment that could also serve as a passive income but the profit to harvest takes years, unlike in business, there's always money. I can support it from my experience being a business operator.

 

[Trush Jodie]

I think business is better for active income unless you already have a paid employment job that you are already working in.

 

[kit_hung]

But sadly, business requires a lot of skills, knowledge, and experience.

I think this is a positive point. This is because anyone would need to acquire and finetune the required competences to run a business successfully.
it need not be easy.

 

[Tobi]

It mainly depends on the Passion to the job that we could get opportunity on and the standard of living.

If you are disciplined on your expenses and dont like your job then small but stable passive income is better but if you are passionate on your job or dont have control over your expenses then Job for rest of your life makes sense.

 

[Min George]

Businesses always have been a good source of income. Whether active or passive, if well ran, they always make people earn.

 

[Augusta]

Business activities in which you don't materially participate during the year like rental activities, even if you do materially participate in them is passive income

 

[King Belieal]

I would rather do business to earn active income. If I want passive income, I would get assets to hold.

 

[Augusta]

Many old economy businesses generate passive income because they're self-service. Although they might require someone onsite to handle payments or other tasks, business owners can hire workers or managers.

 

[Starmix]

In business, there is always one, and the owner can buy an asset that could serve as passive income, and also let him and his family live in financial independence.

 

[Min George]

If someone wants to run a business as a passive income stream, it would require lot of financial resources.

 

[Augusta]

The revenue you earn without your active participation. Passive income doesn't mean that you just have to start a business and go to sleep

 

[Trush Jodie]

As long as the business can run solidly without needing much attention from the business owner, it can be a passive income source.

 

[eLdavis]

I think you can earn more through running a business than going for passive income, hence most of them go for business now, then invest for passive income later.