Passive income
'Passive income' has become a marketing term. Here is a working definition and a look at the honest sources.
A working definition
Cash flow that requires little or no ongoing personal effort to maintain, once the initial capital and setup are in place. Not the same as risk-free.
Real sources
Dividends from equity portfolios.
Interest from bonds, money-market funds, and cash deposits.
Rental income (semi-passive — property still requires attention).
Distributions from managed strategies and funds.
Where yield programmes sit
A programme like Vision Bank is closer to a managed strategy than to a dividend — you contribute capital, receive periodic distributions, and take no operational role. The trade-off is that the yield is not contractual and can vary or be negative.