For many people, the 9-5 job is the norm. Wake up, go to work, come home, eat dinner, Wash, rinse, and repeat.
That’s why plenty of people turn to passive income for a way to save up for retirement or use it for a rainy day.
Have you ever thought about how you can make passive income? Perhaps you’ve seen people talk about affiliate marketing or how to make money with Airbnb.
Below, we’re going to run over a few ways that you could earn passive income.
Do you have a particular skill or feel like a person of authority in a particular niche? Then you should look into writing and selling eBooks.
Even though it’s rare to see someone holding a book out in public today, plenty of people are using e-readers and tablets.
The writing part is going to take up a lot of time and effort, but once it’s published and you have some reviews and a solid marketing plan, you can sit back and let the checks roll in.
Affiliate marketing is the idea of pairing your website with an eCommerce store and acting as a referral. People come to your site, click on a link that takes them to an online store, make a purchase, and you get a bit of commission.
Affiliate marketing is not easy but with plenty of work and studying it is possible. There are some that are able to make millions each year of affiliate marketing.
You’ll have to be well-versed in SEO and marketing, but these are skills many teach themselves.
Real estate is often one of the best investments you can make, period.
The value of a real estate property is almost always appreciating and whether you’re flipping houses or renting them out, it’s a great way to bring in a few extra checks.
Many people have turned to vacation rentals, such as Airbnb. With over 150 million Airbnb users around the world, it’s not a bad idea. You should look into options like how to make money with Airbnb and see if it’s a possibility for you and your location.
If you’ve never heard of Udemy, you should check it out. The site is filled with plenty of courses that you can take from the comfort of your own home.
This works similarly to the eBook. If you have a particular skill or certain authority to teach others about a subject, then you can make a course that people will pay to take.
Making the course may be tough, but after that, you don’t have to do anything for people to start taking it. Some courses, such as tech courses, need to be updated over time but other than that, you won’t have to do much.
This requires a large investment upfront and a lot of research but once you find a few stocks you like, you can start to make a pretty sizable chunk of passive income.
It does take a lot of investing and reinvesting at the beginning as well as some monitoring over time, so it’s not quite as “sit back and relax” as other passive income forms are.
But, with the right amount of research and a sizable investment, it can be a fantastic option for just about anyone.