The building of multiple income streams has become a necessity for most of us although we might not recognize this yet.
The continuing high rate of unemployment in most countries has taught us that no job is safe and secure.
Unfortunately, most people only have the one source of income - that from their daily job - and it is proving to be a rather risky situation.
There is no limit as to the number of income streams you should have or should create.
The key is to ensure that the time and resources you spend maintaining an income stream does not become too unmanageable, continues to be worth the resources invested and spent, and that the income stream continues to produce a generally positive cash flow.
WHAT IS PASSIVE INCOME? Fortunately, our business climate and economic environment is providing more opportunities for individuals to create alternative income streams.
The simple idea of passive income is that it is revenue earned with as little work as possible needed to be maintained once the initial work has been completed.
Some traditional, commonplace examples of such income methods are:

• Rent and lease from owned real estate properties
• Royalties from songs, books, publications, videos, and other original works
• Dividends from stocks or other equity securities
• Interest from bonds, loans that you made, bank deposits, or other cash investments
• Retirement pensions

However, with the advent of Internet Communication systems, other forms of alternative income streams are developing and becoming more accessible to more and more people.
These newer forms of such income streams include:

• Earnings from internet blogs, websites or advertising
• eBook publishing
• Software development
• Consultation services

PASSIVE INCOME MYTHS AND MISCONCEPTIONS Earning a substantial and sustainable passive income requires work.
It requires knowledge.
Before we can even begin to produce something which will generate passive income, we not only need to have specific knowledge of what it is and what it is not.
Let's take a look at a few misconceptions relating to it:

• Myth #1: GET RICH QUICK WITH LITTLE TO NO WORK

We all know, or should know, that there is no such thing as getting rich quickly, legally and legitimately without a large investment of some sort of resource.
Passive income streams are based upon investments of cash, skills, talents and time.
More of one would require less of the other.
For example, if you have lots of money to invest, then you will probably need less time or skills to receive the same amount of passive income.

• Myth #2: YOU HAVE TO BUY SPECIAL TOOLS

To be a smart investor takes a reasonable amount of knowledge in the object in which you are investing.
But there should be no reason for you to buy expensive books, DVDs to learn how to invest.
If the person or company that is offering you the opportunity to invest does not offer you all that you need to know to make a wise, knowledgeable, and informed decision, then that company or person is probably not reputable and their offer may not me legitimate.

• Myth #3: AN INVESTMENT OF YOUR RESOURCES WILL GUARANTEE A RETURN

Every investment has a certain amount of risk.
If you are not comfortable accepting the recognized risks and the possible loss of your cash and time resources, then do not invest in that passive income method.

• Myth #4: PASSIVE INCOME DOES NOT REQUIRE ADDITIONAL INVESTMENTS OF RESOURCES AFTER THE INITIAL INVESTMENTS

The world is in a constant flux.
Therefore, it is not wise to let your passive income generator "be as it is".
Every passive income source will require some sort of maintenance.
New ideas, new consumer groups to target, changing the look of web sites, keeping the property maintained,...
there will always be a need for investing some combination of work, time, skills, talent and cash to maintain the passive income source.
Raj Singh