7 Passive Income Streams Everybody Should Start Before They Turn 30

Passive income streams are a great way to earn money without actively working for it. They allow you to generate a steady stream of income without the need for constant effort. It is a form of income that is generated with little or no ongoing effort. It allows individuals to earn money without actively working for it. There are many different ways to generate passive income, and in this article, we'll explore some of the most popular methods and some unpopular ones that you should try to generate a diversified stream of steady income. 

1. Rental Properties

One of the most popular ways to generate passive income is through real estate investing. This can include buying rental properties, investing in real estate crowdfunding, or becoming a real estate wholesaler. Rental properties allow you to collect rent each month, while real estate crowdfunding allows you to invest in a pool of properties and earn a share of the rental income. Wholesaling involves finding undervalued properties, and then selling them to other investors for a profit.

2. Dividend Investing

Another way to generate passive income is by investing in dividend-paying stocks. These are stocks that pay out a portion of their earnings to shareholders in the form of dividends. By investing in these stocks, you can earn money each quarter or year without having to sell your shares. Dividend investing is a great way to generate passive income, but it does require some research to find the best stocks.

3. Creating and Selling an Online Course

Another popular way to generate passive income is by creating and selling an online course. If you have expertise in a particular subject, you can create a course and sell it on platforms like Udemy or Coursera. Once your course is up for sale, you can earn money every time someone takes it. This method takes some time to set up, but once it's done, you can continue to sell it and earn passive income.

4. Building a Blog or Website

Another way to generate passive income is through building a blog or website. Once you've built your audience, you can monetize your site through advertising, affiliate marketing, or sponsored posts. This method of passive income takes some time to build, but once you've established your audience, you can earn money without having to actively work on your site.

5. Investing in Peer-To-Peer Lending

Peer-to-peer (P2P) lending is a form of lending that allows individuals to borrow and lend money without the involvement of traditional financial institutions such as banks. One of the major benefits of P2P lending is that it can offer higher returns for investors compared to traditional investments such as savings accounts or bonds. Borrowers also benefit from the lower interest rates offered by P2P lending platforms, as they are able to secure loans at rates that are often lower than those offered by banks. P2P lending is also accessible to a wider range of people, as it is not limited by credit score or other traditional lending criteria. Peer-to-peer lending is a newer form of passive income, but it is rapidly gaining popularity. It allows investors to lend money to individuals or small businesses through an online platform, such as Lending Club or Prosper. The borrowers pay back the loans with interest, which is then paid back to the investors.

6. Building a Dropshipping Business

Another way to generate passive income is by building a dropshipping business. This type of e-commerce business allows you to sell products without holding any inventory. Instead, when a customer purchases an item from your store, you purchase it from a supplier who ships it directly to the customer. This way you can generate passive income without having to manage inventory or handle shipping.

7. Creating a Membership Site or Subscription Service

Another way to generate passive income is by creating a membership site or subscription service. This can include a paid membership site where members pay a monthly fee for access to exclusive content, or a subscription box service where customers pay a recurring fee for a box of products delivered to their doorstep.

It's important to note that while these methods may be considered "passive," they do require effort upfront in order to set up and maintain. For example, rental properties require finding and purchasing the property, as well as managing it. Building a website or blog takes time and effort to build an audience. Investing in stocks or peer-to-peer lending requires research and management.

But once these methods are set up, they can generate a steady stream of income without the need for constant effort. It's important to find a method that aligns with your skills, interests, and resources. It's also important to diversify your income streams, as relying on only one method can be risky.

In conclusion, passive income is a great way to earn money without actively working for it. There are many different ways to generate passive income, and it's important to find what you like and what most interests you, and then stick with it until it starts generating income.