5 Passive income ideas – tips to make money as you sleep
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Hello, today I will share with you my 5 passive income ideas that you can start today. If you want to know how to be rich quickly this is not for you, but if you search for passive incomes ideas, I’m sure this post will help you.
Types of Passive income
Stocks as a passive income
Like many of the people you probably think that you need a lot of money to get stated in the stock market, no it is not true. Of course it is better if you have a nice amount of money to invest, but our goal here is to create passive income, we want our money to work for us. Unlike day trader, the stock market won’t be our main financial activity, we will just try to create passive income sources.
It do not take a lot of money to get stated, 50$, 100$, 200$ a month it is all fine. But anything you invest you will start making gains, start earning dividends and you will create you first passive income source. Of course that if you can invest 1000$ a month it’s better, the only difference is that you will make more gains.
If you have a small amount of money and you want to create passive income but you don’t know anything about investment, try to read some blogs about the stock market. Do not go to financial advisor, they will take you a lot of money, and if you don’t want to invest 100k it’s better to try that by yourself. You can read Rich Dad Poor Dad to get a basic explication about the financial world.
Ebook as a passive income
It is not easy to write an entire book, but it easiest to write an Ebook. An eBook is digital book, unusually a small one, around 70 pages. If you are a ‘Master’ in your domain, you can write a book about something interesting and sell it. Then people will buy you book and that will create you a passive income for life.
You don’t really have to be a ‘Master’, you just have to be better that other people in your domain. If you are a photographer you can make an eBook about photography, Long exposure shooing, Portrait and a lot of photography styles. After you created your eBook you will make him some promotion and sell it as a passive income.
Youtube as a passive income
That is a little bite more complicated, because there is a huge competition on Youtube. Everyone want to be famous, and want to make money from Youtube, but you don’t have to be a ‘Master’ to do that. Actually my grandfather use Youtube as a way to generate a passive income. I will tell you how.
My grandfather knows how to cook, because he is old he have in mind a lot of special recipes from his childhood. He created a Youtube channel and explain how to make some of the recipes he know. some of his video have 500K views, and are getting new views every day. If you read the book Rich Dad Poor Dad, you will understand better what I’m about to explain. You can see Youtube as your main income, then you will work a full time job. But you also can use Youtube as a passive income. You will make less money but you won’t need to post a video every single day. Just create ‘Assets’, take your videos as assets, more you will have more money you will make.
Create an online educational course
This one is for people who want to work hard, but make great money online. Online learning courses have become very popular on the web, you can find a lot of Youtube who start selling courses in their field. It depends on the knowledge you have. If you have a large knowledge in Financial Education, then go and open a course. If you are a book bike rider, you can make a course about riding a bike, and make a great passive income from that.
The way to make the maximum money from online courses is to sell a monthly subscription. Monthly subscription allow you to sell your courses in a lower price, and to save your clients. You can create new contents, or just leave like. Depend on how ‘Passive’ do you want to be with that.
There are many website you can use to create passive income with online courses, but there is only one that I personally know. You can try teachable, I saw a lot of youtubers using it for their courses.
Buy a website for passive income
Most people think about building a website to make money and a passive income. But you actually can buy an existing website to make a passive income. I have many friend who don’t like to write and create content for their website, so they just pay people to do that for them. They only cares about SEO, and they want it to be well ranked in Google. It’s totally ok, but if you don’t really want to be a website creator and entrepreneur, you can buy a website and manage it like a business.
There is a lot of website who sale website that already making money, so you just have to make more money or let it. You can take a look at Empire Flippers Marketplace to get an idea about website you can buy. It is a little unusual, but passive income are also unusual. So do what you have to do to make more money and to get richer.
If you want more information about passive income I recommande you to read some investment books, and entrepreneurship books about this. Here is a list of the 3 best books for entrepreneur. You can also subscribe to our Mailing List to get special content about the financial world.