Top 10 Ways to Generate PASSIVE INCOME

So you've been trying to think of passive income ideas. And why not ? It's practically the American dream. We all want to lie in a hammock and earn money doing nothing .

How to master stress while working full time. Unfortunately, unless you get an inheritance, you'll probably have to do something to generate regular income.

Still, if you're hard-working and innovative, you may be able to come up with some strategies that allow you to earn money when you're not actually working. To see what I mean, check out these ideas for creating passive income streams .

Rent a room

Many own a home that they can leverage as an asset to generate passive income by renting out spare rooms to housemates on a long-term basis.

A large number of people with empty spaces and retirees have free rooms without using them. Estimates show you can earn an average of $10,000 a year to put toward mortgage payments, living expenses, and retirement savings.

affiliate marketing

When someone uses your affiliate link to buy a product or sign up for a service, you get paid. The best thing is that you can have any type of website and find affiliates in your niche. You don't even need to have a website to make money through affiliate marketing ; You can also do it through social networks, podcasts and other platforms.

Don't expect to get rich from this, but any extra money should help. There are those who currently earn between $100 and $150 a month, but you start out earning much less at first.

Create an online course

It takes a lot of effort to develop a valuable course, but once you've done it, you'll make money whenever there's a sale. In addition to an online course, you can work on e-books, online how-to guides, or any other digital product. Regardless of the product you choose, you need to solve a problem or provide a service. Once you create it, you can sell it over and over again and generate an ongoing stream of income.

Rent your old house

Buying an apartment or rental house requires a significant down payment, but if you can buy a property, or move into a new house and rent the old one instead of selling it, it can be a very solid passive income.

You only get involved if there's a major expense or issue, and thankfully those are rare. Income fluctuates a bit depending on when recurring expenses come in, but income is reliable every month.

And of course, the best thing about having some passive income streams is that money allows you to earn money in other passive ways.

Write a book

Obviously, that is a subject that you have to know something about, that is, share some of your knowledge in a book. In total, there are people who generate between 150 and 200 dollars a month, and spend between 20 and 30 dollars on Amazon ads, for example, and others earn much more; they are truly passive income; and then you do nothing at all.

Create a product

Again, like buying an apartment or writing a book, this is not an easy task you'll want to attempt. But it is a classic example of a passive income stream.

The initial phase of doing all the production and logistics must be done by yourself because the sales figures will still be relatively small, but they will increase. Soon you should be able to move production and logistics to a third-party manufacturer and third-party logistics company. Once you fix that, you'll hire an (assistant) to take care of basic customer support and marketing, mainly updating social media, and from there you should be almost completely passive.

Become a Business Partner

If you have money to invest, you can invite someone to your business. This really only works if things are going well. Do you have friends or family that you think are extremely competent and ambitious and looking to start a business ? And they may not have a lot of money, but you?

You might consider doing business with them, but you would be the one with the deep pockets and your partner would be the one spending all or most of the energy and time running the business.

You could find an even and fair way to split the profits, and as long as the business is a success, you would have a passive income.

t-shirt design

If art is your thing, there are plenty of companies that will help you sell your t-shirt designs. Spreadshirt , Designhill , Zazzle , and Cafepress are a few. A few websites charge fees to sell your designs; most don't. Generally, these companies are in charge of the commercialization and shipment of t-shirts; they buy your design, you will receive a commission, usually between 10% and 15%. You may not make a fortune, but once you've uploaded your design, anything you make from a sale is a passive income stream.

Invest in your retirement

If you're starting to get discouraged because you're out of good ideas and don't exactly have the money to start a business or buy an apartment, keep in mind that every time you put money into your retirement portfolio, you'll hopefully be passively earning money .

Many investors will tell you to put your money in dividend-producing stocks, rather than, say, a certificate of deposit or an interest-bearing savings account, since interest is likely to be very low. The point is that while investing in your retirement accounts may not help you pay bills now, they will help you pay bills in the future.

Create YouTube videos

The cool thing about this idea is that even if you earn next to nothing, you'll probably have fun doing it. In the meantime, your friends and family will probably enjoy it very much.

YouTubers have been known to earn $50,000 a month, however you can imagine that they are not the majority. Already at this level they have writers who create content for the blog and constantly upload a video.

It takes a lot of work to get it up and running. In the first months of operating a channel, you can earn less than $40. In fact, calculate the rate and it is around 17 cents an hour.

conclusion

These are not get-rich-quick ideas, but more along the lines of get-rich-slow ideas. But better slow than ever, which is why now might be as good a time as any to buy a hammock and start brainstorming passive income ideas and ways to get rich while (mostly) not working.