Passive income can benefit absolutely everyone, no matter what type of business you have or profession you’re in. The key is to make the digital product creation process as simple and inexpensive as possible. This doesn’t mean your digital product will be cheap; it means you should focus on your area of expertise and solve a common problem among your audience.

In 2015, I created my first digital product, which is still being purchased today. Most people regret not creating passive income sooner.

Also, the term “digital product” refers to information typically offered on the internet in a digital format.

Let’s review why you need to create a stream of passive income:

1. Supplement your income at any time (especially in uncertain times). No one wants to think about losing income, but it happens. Instead of panicking at the idea of finding a new way to bring in money, you can approach the task calmly, knowing you have passive...