When someone is looking for an opportunity to earn extra income, most often they are advised to find a temporary part-time job. But what if you don’t have the time or energy to do this? In this case, you need to find ways to get passive income – making money with a little investment of time and effort on your part.
Try index funds
Index funds allow you to receive income from investments in the stock market absolutely passively. For example, if you invest in a fund based on the S&P 500 index,NIFTY50, your funds will be invested in the common market and you won’t have to think about how to manage your money and whether or not to sell or buy shares of certain companies. All these points will be managed by the fund, which forms its investment portfolio depending on the state of a particular index.
You can also choose a fund that works with any index. There are funds involved in various business sectors – energy, precious metals, banking, emerging markets and others. You only need to decide for yourself that you want to do this, then invest and relax. From now on, your stock portfolio will work on autopilot.
Make YouTube videos
This area is developing very fast. You can shoot videos of absolutely any category – musical, educational, comedy, movie reviews – anything you want … and then upload it to YouTube. Then you can connect Google AdSense to these videos, and they will automatically display ads. When viewers click on this ad, you’ll receive money from Google AdSense.
Your main task is to create decent videos, promote them on social networks and maintain a sufficient number of them to secure an income from several clips. Making and editing a video is not so easy, but after that you will get a source of completely passive income that can last a very long time.
Not sure if you can do it on YouTube? Michelle Fan combined her love of cosmetics and painting with video shooting, recruited more than 8 million subscribers, and now she opened her own company with a capitalization of $ 800 million.
Try affiliate marketing and start selling.
This is a passive earning technique, more suitable for owners of blogs and active Internet sites. You can start promoting any products on your website and receive a fixed fee or percentage of sales.
Making money this way is not as difficult as you might think, because many companies are interested in selling their products in as many places as possible.
You can find partnership offers either by contacting the manufacturers directly or on specialized sites. Best of all, if the advertised product or service is interesting to you or matches the theme of the site.
Make your photos make money online
Do you like taking pictures? If so, you may be able to turn this into a source of passive income. Photo banks like Shutterstock and iStockphoto can provide you with a platform for selling snapshots. You will receive a percentage or a fixed rate for each photo sold to a site client.
In this case, each photo represents a separate source of income, which can work again and again. You only need to create a portfolio, upload it to one or several platforms, and your active actions will end there. All technical issues of selling photos are resolved using the web platform.
Buy high yield stocks
By creating a portfolio of high-yield stocks, you will receive a source of regular passive income with an annual interest rate that far exceeds the percentage of bank deposits.
Do not forget that high-yield stocks are still stocks, so there is always the possibility of a revaluation of capital. In this case, you will receive profit from two sources – from dividends and return on invested capital. To purchase such shares and fill out the appropriate forms, you will need to create a brokerage account.
Write an e-book
Of course, this can be a rather time-consuming process, but when you write a book and place it on the trading floors, it can provide you with income for years. You can sell the book on your own site or enter into a partnership agreement with other sites that are relevant in topic to the book.
Write a real book and get royalties
As in the case of writing an e-book, first you have to work hard. But when the work is finished and the book goes on sale, it will become a completely passive source of income.
This is especially true when you manage to sell a book to a publisher who will pay you a sales fee. You will receive a percentage from each sold copy, and if the book is popular, these percentages can result in substantial amounts. In addition, these payments can last for years.
Create a marketing website
If there is a product about which you know quite a lot, you can engage in its implementation on the profile site. The methodology is the same as when selling a product of your own manufacture, except that you do not have to deal with production itself.
After some time, you may find that you can add similar products. If this happens, the site will start to generate substantial profits.
If you find a way to deliver goods directly from the manufacturer to the buyer, you don’t even have to get your hands dirty. Maybe this is not completely passive income, but it is very close to this.
Invest in Real Estate Investment Trusts (REIT)
Suppose you decide to invest in real estate, but do not want to devote attention and time to this at all. Investment trusts will help you with this. They are a kind of fund that owns various real estate projects. Funds are managed by professionals, so you don’t have to interfere with their work at all.
One of the main advantages of investing in REIT trusts is that they usually bring higher dividends than stocks, bonds and bank deposits. You can also sell your stake in the trust at any time, which makes such assets more liquid than owning your property.
Become a Passive Business Partner
Do you know a successful company that needs capital to expand its business? If so, you can become something like a short-term angel and provide this capital. But instead of giving credit to the owner of the company, ask for a share of the shares. In this case, the owner of the company will manage the work of the company, while you will be a passive partner, also participating in the business.
Become a source of recommendations
Every small business needs a source of advice to support sales. Make a list of entrepreneurs whose services you use regularly and whom you can recommend for cooperation. Contact them and find out if they have a payment system for recommendations.
You can add familiar accountants, landscape designers, electricians, plumbers, carpet cleaners, and anyone else to the list. Be prepared to recommend these services to your friends, relatives, and colleagues. You can get a commission from each recommendation just by communicating with people.
Do not underestimate referral programs in the professional field. If the company in which you work has bonuses for recommending new employees or new customers, use this. This is very easy money.
Rent Unused Housing Airbnb
The Airbnb concept appeared just a few years ago, but very quickly scattered around the world. Airbnb allows people to travel the world and pay much less for accommodation than in regular hotels. By participating in Airbnb, you can use your house to accommodate guests and earn extra money just by renting.
The amount of income will depend on the size and condition of your home and its location. Naturally, if your house is located in an expensive city or near a popular resort, the income will be much higher. This is a way to make money from the free space in your house, which in any case would be empty.
Write an application
Applications can be incredibly lucrative revenue streams. Think about how many people today have smartphones. Yes, almost everything! People download apps like crazy – and for good reason.
Applications make people’s lives easier. It doesn’t matter if it helps to post beautiful pictures or keeps track of tasks, there is always an application that is useful to someone.
You may ask: if there are so many applications, why should you try to create another one. Is the competition too great? All this is true, but fresh creative ideas can win. If you can come up with something unique, you can make money on it.
Not sure how to program? Not a problem, you can learn. There are a lot of different courses on the Internet, including free ones. Alternatively, you can hire a developer to create the application based on your idea.
The end result is an application that will potentially generate relatively passive income.
Create online courses
Each person is an expert in something. Why not create an online course about your hobby?
There are several ways to create and conduct your own online courses. One of the easiest ways is to use sites like Udemy. With over 8 million students, Udemy is a great way to present your content to others.
Once you create an online course, it can work for you while you sleep.
What will you include in your course? You can add video tutorials, checklists to follow the steps recommended in them, small e-books in addition to the lessons, audio files for people listening while traveling, interviews with experts and one