100 Best passive income ideas to make up to a million dollars?
What are the best passive income ideas?
Many people dream of starting passive income ideas where they don’t have to continue working for day long so as to earn, so you’re not alone
Years ago I was in the same shoes like you are now, I didn’t know what where the best passive business ideas to start
But because of hard work and determination and through the school of hard work I discovered the best ways to earn passive income both online and offline
In this post we will discuss all the best ways to earn passive income while you’re sleeping or in a vacation
What is passive income?
Passive income is the income that is being earned with minimal efforts
It is that money your earn outside of your 9-5 job because on your job you trade time for money
Passive income is “money earned with minimal activity through any venture that requires little daily effort or upkeep on the individual” themoneyninja.com
Passive income is also known as residual income which you earn without actively working
Approaches to earning passive income
- Invest your money in income generating asset
- Invest your time and earn it later
There is almost nothing you can get free of charge without involving your time or money
So there is no thing you can get free of charge, you must invest in your time, money or both to get income
Why do you need passive income?
- To supplement on your income
- To increase money in your emergency fund
- To diversify your income portfolio
Types of passive income
- Time investment
- Monetary investments
Time investments are those passive income ideas that require you to put in your time towards obtaining it
Monetary investments are the ones that require you to invest in your money so as to earn
What are the best passive income ideas?
- Open a high yield savings account
- Invest using robo-advisors e.g betterment,
- Open a money market account
- Develop software
- Become uber driver
- Rent your car
- Start micro investinge.g Acorn
- Purchase an established blog or website from flippa
- Invest in rental property e.groofstock
- Invest in an online brokerage provider e.g
- Charles schwab
- Vanguard
- Fidelity
- Max out your 401(k)
- Join peer to peer lending e.glendingclub
- Make use of cash back apps e.gRakuten
- Start a profitable blog
- Rent your unused space e.g Neighbor
- Rent your extra room on Airbnb
- Rent out your car e.gturo, spare room, roomster
- Start a YouTube channel
- Advertise on your car e.g wrapify.com
- Invest in worthybonds
- Become a landlord
- Refinance your debt by joinin credible or sofi
- Invest in dividend earning stocks e.gRobinhood, webull or Momoo
- Rent out your internet e.g on CoastFi.com, honeygain.com, honeygain.com will pay you $10-$20 a share to share internet
- Create and sell online courses using teachable, skillshare or simplilearn
- Start an ecommerce website
- Start a drop shipping website
- Sell stock photos
- Create and sell ebooks
- Take online survey from surveyjunkie, inboxdollars, opinion outpost, pinecone research,
- Start a side hustle business
- Invest in crowdfunded real estatee.gfundrise starting at $500 or Realtymogul starting at $1,000
- Affiliate marketing
- Start dropshipping
- Develop themes and plugins
Has this article added value to you? Which of the above is the best passive income idea you will try this year?
Share your opinion with us in the comments below
Best Passive income ideas 2021
Passive income refers to leveraging what you already have to generate more income, it is not a get rich quick, work is involved in the first place but keeps on generating returns.
There are many ways you can earn passive income and in this post we are going to look at the best forms of passive incomes available.
- Dividends
- Interest
- Royalties
- Capital gains
Dividends is income obtained from shares. This is obtained from investing in stocks or mutual funds.
Interest is income obtained from debt claims. Obtained from bonds, loans given out or government security.
Royalties is payment of any kind inform of compensation because of the use of something that belongs to you like license, film, photos, ideas etc.
Capital gains is the increase in the value of your capital or assets.
How to earn passive income?
- Affiliate marketing
This is where you sell other people products for a commission, companies are willing to pay you for generating sales to them, and many companies exist in any niche for you to choose from.
- Sponsored posts
Many companies are willing to pay your to generate leads to them, you can allow adverts on posts and you earn revenue per click. You have to apply to google AdSense on any other advertising platform to put adverts on your blog post.
- Publish eBooks
You can generate revenue from selling your eBooks on your website or eBook selling sites, all you have to do is create a PDF format and start selling, publish on kindle or luju.
- Create online courses
Online courses bring in passive income, all you have to do is create a video course and upload it on online teaching platforms like udemy, you can also teach via your website but creating a membership course or via email subscription
- Stock investment
There are many online investment apps where you can invest your money and generate monthly dividends.
- Design and sell magazines online
- Sell advertising space on your website.
- Invest in fundrise
- Acretrader
- Roofstock
- realty Mogul
- worthy peer capital
- become a money lender
- rent your own car
- rent your own house
- Become a social media influencer
- Display ads on your website
- Sell leads
- Create digital product
- You tube ads
To be continued
78 passive income you never knew exist in 2021.
A side hustle is something you do to generate more revenue a side, it is important for every working individual to start side hustle besides your 9-5 job.
If you’re interested in more money side hustles are extremely more important to leverage your income portfolios.
Statistics show that more than 78% of Americans live pay check to pay check, many people are doing what they don’t love, you can turn your side hustle or hobby into a full time income if you’re committed and leave the 9-5 job.
Here are examples of side hustles you can start to generate more passive income.
- Create pieces of artwork if your good at fine art or drawings, people are more interested in paying you.
- Design badges for schools, sign posts
- Learn tailoring
- Teach after school
- Do painting
- Teach online
- Acting
- Modelling
- Do voice over
- Edit podcasts
- Create beats
- Start a restaurant
- Start a food truck
- Teach cooking
- Start a you tube channel
- Do translation
- Transcribing online
- Sell crafts online
- Start a blog
- Become a dancer
- Teach dance lessons
- Fitness trainer
- Cheese coach
- Personal trainer
- Online English teacher
- Graphic designer
- Fashion designer
- Mechanic
- Saloon
- Freelancing
- Health coach
- Web designer
- Video editor
- Photography
- Teach photography
- Editor
- Proof-reader
- Public speaker
- Article writer
- Grant writer
- Create comparison site
- Sell physical products online
- Stock investing
- Become a digital publisher
- Buy and sell online business
- Give free knowledge and ask for donation
- Build a niche site
- Start a membership site and offer courses
- Affiliate marketer
- Write eBooks
- Review books
- Start a podcast
- Buy or flip domain names
- Create software
- Cash back
- Start an online store
- Build an app
- Sell photos
- Account a saving account with savings apps
- Develop your own product and sell online.
- Real estate investing
- Buy an existing blog
- Rent out space on Airbnb
- Create online course
- Invest in dividend stocks
- Rent properties
- Start a washing bay business
- Design T-shirts
- Start an advertising company
- Website content writer
- Realtor or real estate investor.
- Consultant in any field
- Vacation property broker
- Translator
- Rent out your car
- Start a niche site
- Authority blog
- Kindle books
Which of the above side hustles do you prefer and why? Share your opinion with us in the comments below
Which of the above passive income ideas are best for you? Share your opinion with us in the comments below
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