Ok that clears it up a bit, but I guess I'm still unclear on passive vs active.
To me, passive income would be looking for investment opportunities like via the stock market. Figure out some kind of effect Obamacare will have, then invest in companies that can profit from that.
Active to me means running or being closely involved in launching a business to capitalize on it, like the urinalysis or medical billing ideas. Yes, you may get some other people to do a lot of the work, but I'm guessing that at least for the first few years, it's going to actively involve a lot of your time if you want it to be a success.
Another interpretation of passive could be that you start a business, get it rolling nicely, and then either sell it, generate royalties, or put in a good management team to run it. But with all those cases, I'd still define it as active for at least the first few years, since it takes a lot of effort to get a good venture off the ground.
To me, passive income would be looking for investment opportunities like via the stock market. Figure out some kind of effect Obamacare will have, then invest in companies that can profit from that.
Active to me means running or being closely involved in launching a business to capitalize on it, like the urinalysis or medical billing ideas. Yes, you may get some other people to do a lot of the work, but I'm guessing that at least for the first few years, it's going to actively involve a lot of your time if you want it to be a success.
Another interpretation of passive could be that you start a business, get it rolling nicely, and then either sell it, generate royalties, or put in a good management team to run it. But with all those cases, I'd still define it as active for at least the first few years, since it takes a lot of effort to get a good venture off the ground.