Probably worked for good ol’ mom and dad or gradnma and grandpa but in today’s day and age of recession, inflation rates and consumerism, and your 401k might not give you a decent lifestyle after your decide to retire at 60. That means that you have to be able to save up more than you think you need at that point in your life right now.

Now quite a number of people would ask, “With a 9 to 5, what else can I do?” Some people take up second jobs but by experience and observation, it is tough and stressful to pick up another one. You need not kill yourself for that extra money. So what else can you do?

The key to extra money without killing yourself and still having the stability of a 9-5 is to earn passive income on top of your monthly wage. Passive income, according to the IRS, is money that comes from “trade or business activities in which you do not materially participate.”

This can come from a business that you don’t have a direct hand running or operating or rent from a property. However, if you’re not blessed with the capital or inheritance to have any of these, you can still explore ventures that could give you passive income.

Stuff like Internet advertising or royalties from writing a book. And you can always combine both. Web 2.0 has become a cottage industry of sorts, really. Put up a blog, gain some traffic, monetize, you might be earning an extra $100 a month with just an hour of extra work each day.