Earn $500 per day
EARN $500 per day World Forums => General Discussion , News, Articles and more => Topic started by: admin on May 02, 2021, 11:35:53 pm
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Enjoy this list of the best passive income ideas, investments, and businesses that make money while you sleep.
Are you looking for the best passive income opportunities to earn you money every month? Here are 43+ Passive Income Ideas. That’s right! Residual income ideas, investments & businesses that make money while you sleep.
What Is Passive Income?
I’m sure this isn’t the first time you’ve come across the term passive income. But, like many people, you may be confused as to what it actually is.
Passive income is earnings derived from business ventures which don’t require you to be physically present. It could be either real estate, loan lending, or just any business that requires little or no effort to maintain.
Essentially, you will be earning money while you sleep!
For example, if you keep money in a bank account that earns interest, providing you leave the money in the account, you’ll be paid interest without you actively doing anything. Although the interest made maybe only 1% in this example, this is still a form of passive income.
Below are a few of my favorite passive income ideas and side hustle ventures that will generate more than 1% interest.
What Side Hustle Businesses Make Money While You Sleep?
Here is a quick overview of passive income ideas and businesses that make money while you sleep:
High Dividend Paying Stocks
High-interest saving accounts
Peer-to-peer lending
Become an Angel Investor
Rent Your Spare Room
Buy a House to Rent
Buy Into a REIT fund
Self-Storage Rentals
E-commerce & Dropshipping
Start a Blog
Check below for the full list!
And, don’t worry, I’ll break down each one of these in greater detail below…
KEEP READING! 😉
How Much Passive Income Can You Earn?
The truthful answer is there is no limit to how much you can earn.
I’m sure, at some point, you’ve come across an advertisement promising to show you a secret way to make $10,000+ by next week. Although this can happen, it’s important to know that this is extremely rare; and won’t be the case for most people.
In my experience, how much you earn comes down to 3 things. They are; how much, how long, and what you invested in.
Compound Interest
When the interest of your investments start to earn interest, this is known and compounding.
The more interest you build, the bigger and faster the compounding effect will be. This is the key to accumulating wealth and building financial freedom; and the secret of the super-wealthy.
Suggested Read
How to Become Wealthy in 5 Years
How to Go from Poor to Rich in a Year
How I Built a $500K-a-Month Business While Traveling the World
21 Easy Things to Make and Sell From Home for Money
What’s the difference between Residual Income and Passive Income?
In a nutshell, passive income is the money you earn from an investment or venture, without any or little continuous effort required. This is a popular type of income used to create wealth.
Residual income, on the other hand, is more of a calculation to determine how profitable or income-producing an asset or business venture is, after the labor or financial investment has been paid off.
For example, the money earned from real estate, after it’s the property has been built and paid for, is known as residual income.
Therefore, how much residual income you can earn from an investment is often a good indication if the idea is worth your time.
For example, if a passive income opportunity requires a lot of upfront time and money, however, the projected residual income you can earn is low and risky; this may be an idea you want to skip.
The best strategies are the ones that require low investment, yet the long-term residual income is high.
Below you will find a list of innovative passive income business opportunities with the types of residual income required to build long-term wealth and financial freedom.
How To Start Building Passive Income
Streams of Income
Most millionaires have seven streams of income – most of which will be passive. Now, I’m not saying to start with seven different streams, but it’s good to understand where you need to work towards.
If you’re entirely new to this, one side hustle or source of passive income is always a good place to start.
There are tons of ways to make money while you sleep (passively); some are easy to start, some require more capital, and some require initial effort. You’ll need to figure out which passive income streams are best for you; based on your budget, time, and interest.
If you don’t have any money to invest in building passive income, you can relax; many ideas require extremely little money to get started. If you’re broke or in debt, it’s always wise to get a job, and pay off any outstanding debts, before you focus on earning passive income.
Learn more about Passive Income
If you’re serious about building wealth & making money while you sleep, passive income is something I would suggest learning more about. Here are a few resources and training programs I found helpful:
The Rich Dad Summit Robert Kiyosaki, the author of Rich Dad Poor Dad (one of my favorite financial books), has online training that teaches you how to make money & sustainable passive income for life. Click here to find out more.
The 4 Hour Work Week by Tim Ferriss is the book that opened my eyes to generating passive income and a new, smarter way of working. It’s a book that I still refer back to today. Check it out.
The Knowledge Society is an awesome training resource that will teach you a range of skills and strategies to build wealth and passive income. Click here to join today.
43+ Passive Income Ideas and businesses that make money while you sleep.
43+ Passive Income Ideas & Businesses That Will Make Money While You Sleep
Below I have a list of ways to generate money passively. Some require more effort to get started than others. Some require more money. I’ll share my list of side hustle ideas to make money, but the rest is up to you.
Investing For Passive Income
This is one of the easiest and least-effort-needed ways to generate passive income. Investing is well established, and people have been investing in years.
Yes, it’s true – You can make a fortune through investing. Just look at Warren Buffet, one of the richest men on earth, who made his fortune through investing.
HOWEVER, unless you have Buffet’s balls, and you’re prepared to put in the same work, time, and dedication as him, the chance of you earning the same is slim.
That being said, in my opinion, investing is a relatively low-risk way to make passive income…
What kind of investment you make and how much you invested will determine how much interest you’ll earn.
It’s important to know, some investments will earn you higher interest, but will come with higher risk. Some investments will be safer, but the interest may be a lot lower.
Below are my favorite investments that make money while you sleep.
1. High Dividend Paying Stocks
Investing in high-paying dividend stocks is one of my best ways to make money, and it can be a reliable income source.
When investing in stocks, I prefer to choose reliable businesses that reward their shareholders with high dividend yield. Some of my stock investments pay me up to 10% in dividends every year. That’s an insane return for 100% a passive income strategy.
I then choose to re-invest my dividend earnings to compound my interest.
On top of these generous payouts, there’s also a possibility that the stock price can rise, increasing my overall value.
Some people have accumulated enough compound interest that they can retire and live solely off their dividend earnings.
Note: Investing in stocks involves risk. So, please take the time to learn, research and invest responsibly
2. High-interest saving accounts
Who would have thought you could get paid for saving your money. If you didn’t know, then it’s time to stop stashing your money under your mattress and open a high-interest savings account.
Most banks offer interests on their savings account to motivate people to save money.
What you need to do is look for a bank or insurance company that offers high-interest rates. This way, your money will multiply itself without any effort on your part.
Here are a few resources to help you learn more about high-interest saving accounts:
nerdwallet.com
moneysupermarket.com
3. Peer-to-peer lending
Banks often have strict measures in place when it comes to offering loans. This usually results in them turning away many businesses or entrepreneurs who are deemed “too risky” by the banks. Peer-to-Peer lending can be an exciting way to make passive income.
With Peer-to-Peer lending, you can lend money to start-up businesses and individuals without imposing strict regulations on them as banks do. There are secure peer-to-peer lending platforms, who will set a friendly interest rate on the amount they will need to pay you back. Just like that, you could earn money while you’re asleep.
4. Become an Angel Investor
Having a business idea is one thing, but getting enough capital to actually open the business is the hardest part.
Becoming an angel investor is soething that the wealthy do a lot.
What they do is they have a list of entrepreneurs and inventors with legit start-up businesses; that are in need of investment.
You can then choose the one you deem has the potential to make it big and invest in it. You’re investing your money in exchange for a stake or share within the business.
From there, the profits of that business will be shared with you in accordance with the amount of capital you contributed.
Just imagine if you were an angel investor of a start-up such as Facebook or Google!
Note: Becoming an angel investor can result in a great source of passive income; however, it does involve a level of risk that may be too experienced for beginners. It will also require a large amount of money available.
Real Estate Investments That Make Money While You Sleep
Passive Income Opportunities - Rent Your Own Stuff. Picture of a Caravan.
Rent Rent Rent!
You don’t have to have an entire property to make some extra cash! There loads of passive income opportunities from renting things you already own. Here are a few ideas:
5. Rent Your Spare Room
Hotel prices aren’t always cheap; especially for popular locations and cities.
If you live in a big city or desirable location, there’s a good chance that someone will pay to rent your spare room. It’s a great side hustle to make money, and, with services like Airbnb, it couldn’t be any easier.
Airbnb connects people in seek of an affordable place to stay with those who have a spare room to rent.
If you’re looking for an easy source of passive income, and you have a spare room available, give this a try. Here are a few handy resources to help you:
How to a profitable Airbnb business
The beginners’ guide to Airbnb hosting
6. Buy a House to Rent
Rental properties are one of the most lucrative businesses that make money while you sleep. This is where you buy a house, duplex, or apartment building and then rent it out to produce income.
If you have enough capital to invest in your own rental property, this can be a great source of monthly income.
If you don’t have the funds available, remember, you can always partner with someone who does have the capital or find an investor.
Watch the view below for more information:
7. Buy Into a REIT fund
As I mentioned above, real estate is often an attractive venture, and it’s one of my favorite ways to make money while you sleep; however, many lack the capital to invest. If that’s you, there is a fair number of real estate investment companies that are willing to actualize your dream of investing in real estate.
These companies work by gathering groups of small investors who pull money to buy rentable properties. The company will then rent, maintain, and then sell the property to generate profit. The profit earned with then be distributed to the investors according to each individual’s amount invested. All you have to do is invest a sum of your disposable income then wait. This is known as a REIT.
To find out more about investing in a REIT, check out this post.
8. Self-Storage Rentals
Self-storage rental units are a great investment opportunity. As our buying habit grows, we all require extra space and storage to store our possessions. As a result, the demand for storage units is rapidly rising,
The best part about investing in storage rentals is that you will hardly ever need to be physically present. This is partly because people who often use your services are looking for a place to put their thing for long periods of time. This makes it one of the most attractive side hustles on this list.
Though it requires capital for buying the actual space and putting up security measures, storage rentals will return your capital in no time.
Passive Income Ideas - Internet Business, Dropshipping & Ecommerce
Internet Businesses That Make Money While You Sleep
If you’re wondering how to make passive income online, this section if for you. Not every online business is a passive income opportunity; however, there are some that can be hugely profitable, scalable, and residual.
9. E-commerce & Dropshipping
With the advanced technology and online platforms available today, setting-up your own e-commerce site is easier than ever before.
How passive things become with e-commerce all depends on what you’re selling and how you manage your store.
Selling your own products means you’ll have to manage inventory, production, and expenses. Although this can increase your profit margins, I wouldn’t necessarily call this passive income, as it will require a fair bit of attention and effort.
HOWEVER, you don’t have to sell your own products. You can re-sell someone else’s products and let them deal with the rest. This is called dropshipping – something that has become quite popular recently.
Click here to learn more about dropshipping
Choosing the right platform
Shopify: Whether you decided to sell your own products or someones else’s, you’ll need an online store. Shopify has made that easier than ever!
They provide ready-made, professionally designed templates, which means your e-store could be up and running in a matter of minutes.
They can also provide tools such as shopping carts, coupon codes, and various payment processes. It’s no surprise why so many “professional e-commerce sites” are currently using the Shopify platform.
You can start a Shopify store for free today.
ClickFunnels: When it comes to selling a product online, ClickFunnels may be the ultimate weapon to use! The platform has everything you need integrated, and you can build professional sales processes with ease!
The thing I love most about ClickFunnels is the insane level of free training they provide, which will turn you into an eCommerce champion.
Sign Up for FREE ClickFunnels Training
After female entrepreneur, Kaelin AKA Ladyboss, started using ClickFunnels, she changed the lives of over a million women in less than three years.
Kaelin has teamed up with ClickFunnels to offer awesome FREE training, showing exactly how she started out with no tech experience and no product.
Click here to sign up for the FREE training
After reading the book Dotcom Secrets by the founder of ClickFunnels, Russell Brunson, discovered the secret to selling online successfully.
Grab your FREE copy of Dotcom Secrets now.
10. Start a Blog
This is another of my favorite ways to make money. And, certainly one of the best types of residual income ideas, in my opinion.
I know it’s not the quickest way to start earning passive income, and it does require a bit of upfront work. However, creating a blog that drives niche-specific traffic can turn out to be an automatic money-making machine!
The key to starting a successful blog is to create blog posts that are rich with value and knowledge. In return, you’ll build an audience that trusts you and will follow your blog.
Successful blogs who have managed to generate traffic can make a fortune through placing an advertisement and relevant affiliate links across their blog. The awesome part about a blog is the fact you can still generate traffic and earn money from a blog post you wrote years ago. This is what makes a blog so passive – over time.
Want to start a blog? Here are a few resources that will help.
How to Start a New Blog in 15 Minutes or Less
7 Unique Ways You Can Make Money Blogging on Squarespace
How to Make Money Blogging Today
How to Become a Rich Blogger in 7 Powerful Steps
11. Start a YouTube Channel
Think of a YouTube channel as a visual version of a blog.
The principle is the same. Create a YouTube channel, make videos around a specific topic or niche, and drive traffic (views).
Just like a blog, a successful YouTuber has the opportunity to earn ad revenue. Plus, you can promote or review affiliate products.
You can even start a blog and a YouTube account around the same topic to really boost your authority within the niche.
Again, building your content will require effort in the beginning, as you will need to create the video. However, once a video is published, you can potentially receive views and earn money from those videos for years to come.
Suggested Reads
How Do You Make Money From YouTube?
Watch this video for more information:
12. Design & Sell T-Shirts (Print on Demand)
Another way to earn money while you sleep is by designing awesome graphic t-shirts and selling them to people, either through an online platform such as Shopify or ClickFunnels, or a physical store.
If you’ve ever thought about starting your own clothing business, this idea is perfect for you.
For every occasion, community or enthusiast, there’s a t-shirt that can be designed. For example, Star Wars fans would happily purchase a t-shirt relating to the movies.
So, what is print on demand? This is where things become passive! Print on demand is similar to dropshipping; however, instead of selling someone else’s products, you’re selling your own designs.
Platforms such a Printful allow you to upload your custom t-shirt designs, and they will take care of the rest. That’s right, and they will handle the manufacturing, the shipping, and even the returns. All you have to do is sell a t-shirt.
If you’re thinking of starting your own print on demand t-shirt business, watch this video before:
13. Create & Sell Ebooks Online
The demand for knowledge is higher than ever. And, almost everyone has access to a smartphone, tablet, or laptop. This is what makes digital ebooks so popular; and one of the most interesting ways to make money on this list.
We all have a skill or subject that we are knowledgeable in, and some else may be willing to pay a small fee for this knowledge.
It’s easier than ever before to create an ebook and get published on a platform like Amazon’s Kindle. And once your ebook is published, Amazon will handle the rest.
If you’re good writing and you have the time, you can write your own ebook. If writing is something that doesn’t come naturally to you, or you lack the spare time, you can hire a writer to create an ebook for you. Check our sites such as Fiverr and Upwork to find writers.
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