Surely you have a fixed job to generate assets, that is, a regular salary, and that’s great. But deep down, you know that you have always wanted more. Here you will find 12 Best Passive Income Ideas in this article. More financial freedom. More flexibility. Surely you have ever wondered: “How to increase my income?”.
Therefore, we teach you how to live on passive income. We include 20 examples of passive businesses and ways to generate passive income. So keep reading!
What is passive income?
A passive or residual income is the money that is earned passively, that is, without having to spend time to continue earning it. That is the biggest attraction that captivates people to obtain passive income.
You can create something (a blog, course, e-book, video, or an online store) that allows you to generate passive income online even when you are not working. Or you can own something (property or shares) with which you can also earn passive income periodically.
12 Best Passive Income Ideas
1. Sell Your Videos and Photos
If you like the audiovisual world, selling videos can help you generate passive income. How? You have two ways: One option is to create audiovisual content for other companies. For this, you only need to have a good team, programs to edit videos, and a lot of creativity.
But if you want this to be your passive job, you can also attend public events such as protests, demonstrations and festivals, record videos, and sell them to the media and online press.
2. Rent a Room on Airbnb
If you like meeting new people and have a spare room in your home, this source of passive income is for you. Offering a room on Airbnb is a great way to earn money from home with virtually no effort. Best of all, you don’t have to commit to a long-term rental so that you can discontinue this passive activity at any time.
3. Create an Online Course
Selling courses online is one of the best ways to earn passive income in 2020. Whether you decide to sell a course on your website or a platform like Domestika, you will find clients who want to know your tips and tricks.
However, the downside is that these platforms can put discounts on your courses during certain periods, which will affect the amount of passive income you earn.
If you prefer to have more control over your passive work, you can create your course on your page. The challenge of this alternative is to get more traffic on your website, which allows you to generate more income.
4. Sell the Things You No Longer Need
Why not take advantage of Marie Kondo’s advice to get passive income? Get rid of the things that no longer serve you and generate more income with your sale. You would be surprised at the number of people who are willing to buy second-hand things.
5. Charge for Sponsored Posts on Instagram
The marketing of influencers is a good source of passive income since more and more companies pay Instagram accounts to promote their products and services. Whether you’re passionate about travel, fashion, beauty, home décor, or something quirky, like wacky dog haircuts, you’re sure to find an audience interested in your niche.
Instagram allows you to create fan pages for absolutely anything, so charging for sponsored posts is one of the easiest ways to make money on Instagram. You don’t need to start selling on Instagram. Creating an audience is worth it.
It will be the companies that offer you their products so that you can market them or so that you can speak well of them (in exchange for a commission or a single payment). And don’t forget to use hashtags on Instagram to gain more visibility and reach a larger audience.
6. Create Your Blog
A very popular way to generate passive income online is to create your blog. Blogging has helped countless bloggers and entrepreneurs earn passive income through affiliate links, advertising, courses, sponsored posts, products, book deals, and more. Admittedly, it can take a bit of initial work to build a successful blog. However, it is one of the best ways to generate a passive income that exists in 2020.
7. Invest in Stocks
Investing in stocks is one of the best passive jobs. The only drawback is that you will need to have a previous investment. We also recommend that you learn a lot about how investments work before you start and run away from anyone who tells you that you can get rich easily.
The truth is that while you can generate more income in this way compared to other alternatives on the list, to live on the passive income, you only need to invest very smartly and considerable amounts of money.
8. Create an On-Demand Print Shop
Since eCommerce is one of the best ways to earn passive income nowadays, trying print-on-demand can be a great passive job if you like to design. Print on demand allows you to sell custom graphics on products. Just like Veronica Wong, founder of Boba Love.
9. Write an eBook
E-books have remained a popular content medium since they became fashionable back in 2010. So if you are an innate writer, you could start earning passive income by writing an eBook.
10. Create an Application
Without a doubt, one of the most original ideas of how to generate passive income from this list. If you are a developer or programmer, you can try creating applications to generate passive income online. To generate assets, you can charge people who want to buy your app a fee, or make your app free and monetize your passive work with ads.
11. Helps Companies Attract Customers
Do you have business skills? There are tons of businesses that will pay you referral fees for generating more income. Freelancers, DJs, photographers, and other solo entrepreneurs are often willing to pay a bonus for the recommendation of finding a client to sign a contract.
So if helping people earn money is something you are passionate about, you can earn passive income through your connections. All you need is a couple of emails or messages, and you could generate more with very little effort. It is not a 100% passive job, but it allows you to generate assets with little investment of time.
12. Create YouTube Videos
YouTube is an incredible way to make a high income online. From sponsored videos you can charge for advertisements, you will find that you can make a lot of money with YouTube.
The secret is for creating a successful YouTube channel, constantly create content for a few months. In time you will see that all the time invested pays off, and you will start enjoying this passive work.
So this is all for today. You will be benefited with 12 BEST PASSIVE INCOME IDEAS.