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How I'd start earning passive income to replace my wages

The article from MSN Money discusses strategies for generating passive income to eventually replace one's salary. It begins by highlighting the importance of passive income for financial independence, allowing individuals to live off their investments rather than their labor. The author suggests starting with a clear financial goal, understanding one's risk tolerance, and then outlines several methods to achieve this. These include investing in dividend stocks, which provide regular payouts; real estate through rental properties or Real Estate Investment Trusts (REITs); creating digital products like eBooks or courses; and peer-to-peer lending. The piece emphasizes the need for diversification to mitigate risks, the power of compound interest over time, and the importance of reinvesting earnings to grow the income stream. It also touches on the mindset shift required, from earning through active work to earning through smart investments, and encourages starting small with whatever capital one can muster, gradually scaling up as the passive income grows.

Read the Full MSN Article at:
[ https://www.msn.com/en-au/money/top-stocks/how-i-d-start-earning-passive-income-to-replace-my-wages/ar-AA1wu1Kl ]