For example income from a website, once it is built and you receive money from clicks, advertising and automated systems would be classed as passive.
Income from a website shop - would not be passive if you had to actually process the order, then ship the items in question. Unless however it was orders that were for drop shipping that went to someone else to process.
Some further examples of passive income would be rental from a property, royalties from a book or music, interest from a bank or dividends and ongoing commission from sales made in the past.
Anyone who has half a brain can start to set up passive incomes, and if you can set up enough of them, then you would have lots of free time on your hands and earn money whilst you sleep! Works for me! The wiki entry talks about Robert Kiyosaki and his book Rich Dad Poor Dad.
I read Robert Kiyosaki's Rich Dad Poor Dad in one evening (I think in around 2000) & then I went on to build eleven websites within four weeks. I now have a totally different approach to life & and have some passive incomes. Rich Dad Poor Dad is certainly worth a look despite it being painfully repetative and driving you nuts - If you have enough drive, you shouldn't need to read his other books.
As a result of Rich Dad Poor Dad, and this book alone, I created 80 websites and generated over and above £5000 a month passive income in the year 2004.
**WARNING **We were not clever enough to keep that income from 2004 and lost it in 2005 as we took on someone to manage the sites for us, and they took down our server. We didn't have backups. You MUST keep backups of everything you do.
What is a squeezel - Quoting the urban dictionary a Squeezel affectionately means a person who attempts to squeeze every last dollar from ones pocket. It is also a vietnamese term for a porcupine and my personal explaination for a squirrel crossed with a weasel when I can't identify which one it is I saw run across the road in front of the car!