So what are the best passive income ideas? Let’s get started & earn more money…
It sounds awesome to say you have a job, but let’s face it.
Working 9 to 5 doesn’t exactly come off as good as it sounds.
You get a job somewhere and work tirelessly but still can’t make enough to cover your bills.
What if we told you, you could avoid your nagging boss, spend more time with your family, and still make enough income?
Yes! It is possible and I mean, really possible.
Our ideas might be different but one thing kept in common is that we all want to earn.
There are various ways of making money, you can either earn actively or earn passively.
But let’s face it, the latter is the most convenient.
With passive income, other than maybe promoting what you have made, or in some cases what other people have made.
Now I’m guessing you also prefer the passive method, right? Well, who doesn’t?
Welcome to Thriven Authority and in today’s, we’ll be going over some proven passive incomes ideas which you should certainly try out.
Now, let’s talk money.
Tip Number One: Invest In Dividend Paying Stocks
If you are truly looking for a way to make money even while you do other calm and relaxing things, then you need to put your money to work for you by investing in stocks.
ETFs, Stocks that pay dividend, and other investments like Lending Club, Fundrise, and many more are all very lucrative passive income ideas anyone with a startup cash should try out.
If you don’t know what dividends are, they are those gains a company distributes to its shareholders.
Dividends, however, definitely do not guarantee to be a full representation of a company’s profit.
The amount of dividend you get from a company depends on the number of stocks or percentage of the company you own.
With a reasonable startup capital and with the right investment, dividend paying stocks investment can guarantee you a good return every month.
According to Brett Owens from Forbes, investors who can look ahead have the potential of making 15 to 25 percent annual revenue if they pick the right stock.
If you happen to be very concerned about your money, then you should know that dividend stocks are one of the safest and most reliable investments schemes that allows you to earn passively.
Tip Number Two: Create A YouTube Channel
Something most people might want to argue is that YouTube isn’t a way of earning passive income as you have to keep making videos to earn money.
However, something you should keep in mind about YouTube is that as long as you video is being watched by others; you will continue to make money.
However, if you want to make even more, then put a little more effort into creating a better video that will earn you even more views.
A study on YouTube made by The Economist showed that people with hundred thousand subscribers or more can earn over $12,000 for just sponsored content.
It is unnecessary to go into what YouTube is and how you can make money from it considering the fact that almost everyone in the world uses this social platform.
In fact, statistics from YouTube blog shows that over 2 billion users log in in monthly to the platform.
Several things can be done on YouTube. Anything from lifestyle to comedy, animation, tutorials, programming, vlogs, memes, reviews, and just about anything else.
In fact, you can play with toys in screen, post in on YouTube, and 27 million people will subscribe to your channel.
Tip Number Three: Try Real Estate Investment
Lately, you must have noticed a lot of people you know are now, somehow, into real estate, right?
Well, have you ever wondered why a lot of these people go into real estate?
They do so because investing in real estate is one of the most popular and lucrative passive income strategies in existence.
The process simply involves having a building, filling it up with tenants, and collecting your income every month or year while you sit in your office or home.
If you don’t believe real estate is that lucrative, then you should know that according to statistics by billionaire Andrew Carnegie, about 90% of millionaires made their money from real estate investment.
The best thing about real estate is that even if you don’t have a startup capital, you can still invest by raising money through crowdfunding platforms.
Tip Number Four: Engage In Affiliate Marketing
If what you want is a very quick and easy way to make money even while you spend time cruising at the beach, then affiliate marketing isn’t for you.
Affiliate marketing is a passive income money making method; however, it isn’t quick and easy.
It is only when you have mastered the process and become very skilled at it with a significant online presence that you can earn huge amount of money passively by promoting other people’s brands.
A survey by VigLink showed that 9% of interviewed affiliate marketers earned up to $50,000 in revenue in 2016.
This number can be doubled and even tripled depending on the level of online presence you have.
Tip Number Five: Start A Blog
It’s impossible to talk about passive income and not talk about blogging.
It is one of the most guaranteed way to make money passively while doing something you truly enjoy.
Blogging can be as lucrative as you want it to be because you can make money from it in several ways.
A report from Glassdoor shows that an average blogger is able to make up to $32,000 yearly.
There are thousands of bloggers making millions and those who aren’t even making anything close.
It all depends on how you build your audience and the niche you specify in.
Create good content, develop consistent readers, and the possibility is endless.
Tip Number Six: Create Online Courses
There’s definitely something you are good at. Believe it or not, there are people who really want to learn that skill you take for granted.
You don’t have to know about programming, finance, health, stock investing, trading, dropshipping, or marketing to create a course.
Even if you are good at fixing stuff or playing musical instruments, we have people who want to learn that skill and you just might be able to earn passively from them.
With an online course, the earning possibility varies and according to Onlinecoursehow.com, this can be between a thousand dollars to five thousand dollars monthly.
The best part about online courses is that there is a low entry barrier.
Just make a quality video and you get to impact others while you keep making money.
Tip Number Seven: Sell Products Online
If you will be creating your own product and selling it online, then you should know that it would require a considerable amount of effort and money for you to get started.
However, the good part about ecommerce is that you don’t have to own a product before you can start earning.
The idea of dropshipping and reinvented the way ecommerce works.
You just have to create an online store, list someone else’s products, and redirect every order you get for profit.
People say dropshipping is already saturated but have you seen Amazon running out of business?
Well, that’s because according to Cloudways.com, dropshipping is still very much alive and Oberlo.com confirms that people are making millions from it.
So, what are you waiting for?
It’s time for you to get to making your own millions.
Try out any of these passive income ideas and with diligence and persistence, you should be cruising off at the beach while your funds keep rolling in.
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