“Passive Income” attracts everyone’s mind, and at this present condition of pandemic and hectic life before and after that where we are not having time for ourselves it is good to have a passive income source. There are so many passive income sources like : Stock/Share Market, Mutual fun investment, Rental income, Network Marketing, Affiliate marketing, Blogging, Digital Marketing, Stock Photography etc.
What is Passive Income ?
So let’s have look on “What is Passive Income?” Passive income sources includes those sources of income where your physical presence doesn’t matter or matter a very few after a certain time and effort. Remember effortless income is only imaginary thing like daydreaming.
Why Passive Income ?
Do you have Leisure time? or Hectic Life? Do you have enough time to think about yourself ? are you working for money? or money is working for you? are you working hard? or you working smartly? are you working from early morning to late night? or YOU ARE EARNING WHILE SLEEPING, PLAYING, VISITING……….?
The answer of why passive income – Because Passive Income :
- Require either one time investment or very few investments in future.
- It is not an effortless income source but it requires a very few ones.
- You can earn while sleeping also.
- Its the real smart work.
- Here you do not work for money but money works for you.
What are the ways of Passive Income?
There are so many ways to generate passive income, it depends on your interest, passion, skill, dream, hobby, need of surrounding, area and time also. Some very famous ways of passive income are :
1. Make Your Money Work For You:
This is known as Investment process where you are putting some of your money to work for you. Here you have to be wise which means you must invest wisely otherwise you can lose your money soon. when money works for you it means money is generating money for you.
2. Stock Market/ Share Market Investment or Trading :
This is the best and maybe most risky way of generating money from money. But there is no limit of profit and loss. Here the amount of profit and loss depends on your study, researches before investing, knowledge about particular stock, timing, news, and patience sometimes. Remember this is most risky way also.
3. Mutual Fund Investment :
This is also indirect investment in stock market, but it reduces the amount of risk for you and with this it also limits the profit amount. Since indirectly you are investing in stock market this is also a risky way, so invest only after research and study.
4. Get a High Yield Saving Account:
This is a safe way of generating passive income but here your income is fixed as per the norms of bank and type of investment.
5. Rent out a room or complex:
This is is the one time investment type passive income source. Here you have to invest your money one time only when you build the complex or home. Amount of earning depends on the location, purpose, and size of the rented part.
6. Peer to Peer Lending:
If you want a higher than average return rate on your investment and would like to feel like you’re contributing to society, consider becoming a part of the Lending Club. The Lending Club takes your investment and uses it to help people borrow to start a business, consolidate debt and pay for medical care.
7. Affiliate Marketing:
With affiliate marketing, you earn a commission by promoting a product. The product you promote online should be something you know about and that you believe is high quality. You can either form an affiliate relationship directly with a specific company or through a commission platform like the Commission Factory, RewareStyle, or ShareASale. You could also sign up as an Amazon affiliate.
8. Create and Sell Online Courses:
At present pandemic time the offline study is about to stop for a time period and everyone is looking for an online platform. If you think you have a good teaching skill then you can teach online or you can record the lessons and you can sell them with a good price on online platform.
9. Stock Photography:
If you are interested in photography then you can sell your photos online and can generate an income there. Some of the online platform for selling your photos are :
The most popular passive income stream tends to come from blogging. Blogging has helped countless entrepreneurs earn passively through affiliate links, courses, sponsored posts, products, book deals, and more.
It’s true that it can take quite a bit of upfront work to build a successful blog. However, it’s one of the most sustainable ways to generate an audience through organic and social traffic or by building an email list.
The biggest perk of creating a blog is that you can turn that one asset into several different streams of income. So if you’re looking for an easy passive income idea, blogging might be the perfect option for you .