Ten Effective Ways To Get Passive Income
With passive income, you can ensure that you are not immediately without pay if you are temporarily unable or unwilling to work.
But what is a passive income? And what are the best ideas to quickly build up a passive income?
What Is Passive Income?
Passive income is simply income that is not directly related to your time or work.
It is income that you do not always have to work for, in contrast to active income, where you exchange your hours for money.
Examples of recurring income can be:
- Rental income
- Dividend on shares.
- I have earned money from advertisements.
- Affiliate Marketing
Active income is the income that you earn as an employee
The flip side of active income is that you give away control of your own time.
But do you stop exchanging your time for money? Then your income stream also stops. And that is precisely where the significant disadvantage of active income is.
Passive income is therefore independent of hours and your physical presence, but it is not income that you do not have to do anything for, as is sometimes thought.
Does Passive Commission Exist? Hell yes!
Can I earn a passive income?
Yes, passive income is certainly not a myth. It does exist, though some will continue to argue not.
And I understand that you think so when you see all those “get-rich-quick” websites on the internet. It doesn't get rich while you sleep.
Those who only get-rich-quick with this are the smart guys behind those pages themselves.
It can certainly earn a passive income. But you also have to do something for passive revenue; it's not free money.
You have the money that you have earned at a particular moment because you have already done most of the work.
And that is precisely why you, too, should invest in building up passive income.
Why Do You Need to Build Up Passive Yield?
You do not immediately get rich asleep with passive income. Passive money flows are impressive for several reasons, especially for freelancers.
Passive income is also attractive because you have become a freelancer to have more freedom. If you then have to work 60 hours a week for that freedom, you can hardly call it democracy.
There are even people who have set up passive revenue streams and now roam the world as digital nomads — talking about freedom!
But even if you are not looking for time to travel or time for yourself, you sometimes want to go on holiday, without having to worry about whether you still have work after your holiday.
The reason that I started working with passive income as ancillary income. I now earn a monthly passive income. (which again does not mean that I don't have to do anything at all)!
Other Reasons For Passive Income
Building up passive income is impressive for anyone who wants to be less dependent on direct labor for his profit, except for freelancers.
Sometimes it is about people who want to spend more time at home. To be able to combine the care of children or their parents with their work.
In other cases, it concerns men or women who, after a divorce, are left alone in their home and have difficulty paying the mortgage only.
To supplement any pension gap. To be able to pay off a debt.
In yet other cases, people with a passive income want to have some extras to spend. Collect some extra income. To buy beautiful clothes.
To be able to pay for that expensive sports club. Or go with the children to an amusement park. You then slowly build up a second income or additional income to do extra things.
For others, building a passive income is just fun to do. They want to see how far they can get with it. Whatever your reason is to earn passive income, in principle, anyone can get started
How Do You Start?
But how can you start with recurring income?
It depends a bit on whether you already have money or whether you want to build up passive income without cash.
In the first case, you will have more options, and it will go faster than in the second case.
But even without investment, it is possible to start creating passive income today. So you don't have to be rich! Below I will discuss ten relatively easy ways that you could apply. Do you want to see if there is something for you?
1. Write A Book
You can write a book! Write about a topic that you know a lot. Let me warn you. It is a lot of work.
In any case, I know of others who have written a management book and have published it for free at a publisher or Amazon, that they can still make good money with it.
Indeed, if your book ends up in the top lists, this can still grow into a gentle stream of passive income.
2. Publish An E-book
The value of an e-book is that it is easily accessible and that you can create and publish it yourself.
Just like writing a physical book, a lot of work involved in the first instance, but if you have an exciting subject, you can end up with a stream of income for many years.
For example, bundle your knowledge about your professional or hobby into an e-book and help others with it.
You can sell your e-book through your website or, for example, offer it for sale on platforms such
as Smashwords, Apple Books, or Amazon.com.
If you sell your e-book, it is useful if you have a distribution channel in the form of a busy website or weblog. Otherwise, the number of sales could be disappointing.
3. Make And Upload YouTube videos
Well-known vloggers have become rich with it. Making videos of their daily lives and putting them on YouTube.
A great example of passive income because the films continue to provide income for months or years after your effort. Moreover, you already had a “daily life” anyway, so why not film it?
If you want to get an income from your YouTube channel, then you have to come up with an original idea and have a lot of perseverance.
4. Investing In Digital Real Estate
Instead of investing in physical real estate, you can also choose to invest in digital real estate.
Digital real estate means websites and webshops primarily. Yes, you also need some money for this method. But it can be very lucrative.
Once you have boosted that income considerably, you can also consider reselling the site for a much higher amount!
5. Build An App
Do you have sufficient technical knowledge? And an excellent idea for an app?
Then you can consider building one yourself (or having it made) that you put up for sale in the Apple App Store or Google Play Store.
Keep in mind that there are only a few developers who make a lot of money from their apps, while the rest lead to a marginal existence.
Well, not all apps are equally popular, and there is simply a choice of tens of several apps, many of which are free.
An excellent program for testing apps
6. Start A Blog
The plus about starting a blog is that you don't need anything for it. Okay, a laptop and an internet connection. Then you can get started right away by making money online.
The best thing to do is to start a blog on a subject that is close to your heart.
So about your work or your hobby. You can earn money with blogging if many others are interested in your topic.
A blog can generate money by putting ads on it or working with links to web shops that pay you a commission on their sales. This way, you can use your blog correctly to set up an occasional review of a product or service, if that fits in well with your topic.
The latter is called affiliate marketing, and if you take a functional approach, it can generate quite a bit of passive income.
But make no mistake: a blog is usually hard work because it always has to contain new content. Otherwise, you lose your visitors.
In many cases, you will, therefore, continue to work on it. But if you do it right, then you are busy with your hobby, and it doesn't feel like working.
The advantage of a blog is that the income usually continues if you post a little less or no new articles during your vacation.
7. Set Up A Webshop
In 2019 it is straightforward to set up a webshop and start selling products.
Mainly if you have found a product that you can buy cheaply and can sell again expensively, then you have an excellent source of passive income in your hands with a webshop.
To make your income even more passive, you could outsource the marketing and customer service of your webshop.
You do not need to stock if you have suppliers who send their products directly to your customers (the so-called drop shippers).
Pro-tip: in terms of fame, you are not going to beat e-commerce giants such as Amazon.com And Walmart.com.
Therefore always start with a good idea for a webshop in a specific niche. If this goes well, you can expand your concept with a related assortment.
8. Invest In Shares And Bonds
Staving currently provides you with 0.05% interest per year.
Then you have to have a lot of money if you want to earn something with it.
It is better to invest your money in shares and bonds. I am not going to give you any investment advice here, but if you have the money you can make more money out of it in a reasonably safe way.
The money works for you instead of you for your money. That is passive income in optima form.
But: you have to have money for it already, and many freelancers don't have that.
9. Invest In Real Estate
If you have a bag of money, you can also invest it to get income from it.
If you are full of money, you can, of course, buy property at an exciting location. When you rent out your property, you get a nice passive income from it.
Of course, you are also the landlord, with all the disadvantages that come with it.
You can also choose to buy a holiday home and rent it out to others in the period that you are not on holiday. If you have a beautiful holiday home in a good location, you can get a gentle income stream here.
But here too, of course, there are a few snags in this method of passive income.
Passive income from real estate is one of the most popular ways to monetize your assets
10. Affiliate Marketing
What is affiliate marketing?
Put, you get money as an affiliate for promoting something or someone.
These can be different stuff.
This can be services such as going to the pedicure, gaining self-confidence or paintball.
These can be different things.
Think of dating sites, webshops or e-books.
With e-books, you can get a high commission (and you hardly have any costs).
Before you start affiliate marketing, I advise you to follow a course. You can follow this course for free at Wealthy Affiliate.
What is Wealthy Affiliate?
Wealthy Affiliate founded in 2005.
It is a public education that teach you everything about affiliate marketing. They connect thousands of entrepreneurs.
What is Wealthy Affiliate's Mission?
The mission of Wealthy Affiliate is to make it possible for everyone to become successful online marketers through the right training and guidance.
Read My Review About Wealthy Affiliate
Which Language Used OnWealthy Affiliate?
The courses are given n understandable English. If you have a basic knowledge of the English language, you can follow these courses well.
What Support Is Available?
There are a development and support team of around 20 full-time employees, including Kyle, Carson, and Jay.
Jay is responsible for the exciting live video training that offered to all premium members.
There is a team of specialists with programmers, code managers, content managers, and others.
What Is The Wealthy Affiliate Community?
Wealthy Affiliate has an active, warm, compassionate, international community.
Members can contact each other in different ways: By writing interactive blogs where you can post a comment.
Answers where members can send questions and answers to each other, and there is also a chat room for direct communication.
You also have the option to send personal messages.
How Are The Classes Offered At Wealthy Affiliate?
The affiliate marketing and boot camp lessons are written and accompanied with step-by-step videos.
You can watch the videos 24/7.
There is live video training for premium members almost every week. And the blogs and extra lessons written by members are also of great value.
What Are These Assignments That A Have To Do?
The most important thing is to “Get started.” Under all lessons, there are checkboxes., where you can check what you have done.
There are lessons that you can do in an hour, but some take much more time.
You will only receive useful assignments that are related to building your website, and that will lead you to the success that you have in mind.
How Many Lessons Can I Follow?
I didn't count them all. But in addition to the regular (100+) Wealthy Affiliate tutorials, and the classes that you can follow, there are thousands of courses available from the member.
You also start earning money during those courses.
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Patience Is A Virtue!
I want to tell you – perhaps unnecessarily – that although you can immediately start generating passive income, you have to be patient to get an exciting income out of it.
So don't give it up if you don't see any results or not enough results after a few weeks or months.
Adjust, learn from others, and stick to it. If you want to go, those passive cash flows are coming!
Tell Me Your Experiences With Passive Income!
Are you using one or more of these benefits to generate (extra) money?
Do you have other ways to earn offline or online passive income?
Do you want tips on how to build up your passive ancillary income?
Have you any questions, or do you want to know how I dealt with certain things?
Then ask your questions below or leave a comment. You will get an answer anyway!