What are passive income?
Passive income are Easy way to earn money without having to put in any effort to earn it. Most of the work can be done up-front, with some additional effort put in along the way.
We must never expect to get something for nothing, so let’s be realistic. There is never a free lunch. Earning passive income doesn’t happen overnight and isn’t going to be incredibly easy. You need to put in some work. Another way to describe passive income is leveraging your time now to earn money through a method that keeps your money coming for years to come after you have stopped working. This is all about maximizing your resources today in order to work smarter, not harder.
See some of the passive income ideas, at least you we be able to find on or two that will work in your situation.
ways to earn passive income
- Dividends: If you don’t know what dividends are, it’s a payment you earn every time you put your money into particular stocks. A $200,000 investment in a stock that pays 5% dividends could mean you get paid 10,000$ every single day without doing anything to generate the money.
YouTube: The money from YouTube is like semi-passive income because it requires you to still create content. Even when you do not post new videos, they can still pay you for the older ones. So, imagine posting new videos every two weeks or month, how much money you’ll make.
2. Dropshipping business: By using drop shipping, you don’t have to deal with the product directly. Starting a successful business dropshipping with little overhead costs is possible, as there’s no need to stock inventory. And you don’t need to code or design skills to get started. The site that you can use to start your dropshipping process are Shopify, Bigcommerce, and Wix. For instance, you use a Shopify app to add products from AliExpress to your online store, mark them up considerably to make your profit. Your customer then buys a product from your store and you send it to them directly from AliExpress.
3. Affiliate marketing: You advertise a product that isn’t yours and you get a tiny commission for every sale someone makes from your link. You can share these links on your website or through your social media accounts (Twitter, Instagram, YouTube). People even advertise the product with paid Google ads and Facebook ads.
Many affiliate marketing platforms can be found on the Internet. Some of the biggest ones are Amazon Associates & ShareASale. If you want to begin affiliate marketing, you can sign up at one of these, choose the product you want to promote, and that’s it. It’s easy so anyone can get started. The trick here is honesty. Promoting bad products can ruin your reputation, so do your best to stick to what you know and love. And i we advice you to start with this company call LEARNOFLIX it’s one of the highest paying affiliate. LEARN MORE, SIGN UP.
4. Write an ebook: To write an ebook is a lot of work, but once you can try and create it and marketed it can provide you with a passive revenue stream for years. You can either sell the ebook on any web website like Amazon or offer it as an affiliate arrangement with other websites that provide content related to your ebook.
5. Get cash-back rewards: There is cards that provides cash back rewards ranging anywhere from 1% to 5% of the amount purchased. From doing what you would do anyway. ways to earn passive income
We recently started being mindful of collecting reward points on our cards especially since we like to travel. For some year now we’ve been able to use the reward points to pay for 9 round trip flights and few nights in a hotel. Now this is what we are talking about!
6. Sell products on the internet: The possibilities of selling products on the internet is endless, you can sell just about any product or service that you like. It can be a product you create or manufacture on your own or it could be digital in nature (such as software, DVDs, or even instructional videos).
You can set up a dedicated online store for this product and service, unless you have a website or blog already in place. Alternatively, you can also sell it on an affiliate basis, either by offering it direct to websites or blogs related to the product and service, or through a platform like ClickBank.
If you make lot of money on your current job and you’re not too sure that you can make a similar amount by selling products online, think again. In our podcast interview, Steve explained how his wife quit her job to become a stay-at-home mom.
Now, being a home alone mom is a full-time job — but Steve Chou’s wife also started an online business that replaced her former salary and started bringing in a six-figure income! Wow, right?
Don’t wait too long to apply and start making the money work for you. Don’t expect anything to happen right after reading this article. Provide the work and the dedication, and the money will come in.
Getting rich passively takes patience and consistency and a long journey of learning but if we can set the expectation up front, we’ll succeed. ways to earn passive income