Have you ever dreamed of earning money while relaxing on a sunny beach?
Well, we all do. But we often don’t know the actual terminology. In simple terms, we call it passive income.
Do you want to know some of the best ways to start earning passive income?
Just like father was a son and a mother was daughter-in-law once, I was also a seeker for easy, amicable and effortless ways of earning money.
But then something happened and now, here I am writing a passive income guide for you!
Now, before diving into details, let’s first know about what is passive income? Like many, I too wanted peaceful ways to earn but didn’t know the exact term to ask Google.
I used to search, “Can I watch my favorite shows on HBO along with earning by doing nothing?”
And the baffled Google would open a huge list of “Best HBO shows to watch while cuddling your spouse!”
So, long story short, I finally found this term somewhere from the Internet, or a seminar, well I don’t remember, but it really got me interested in it. A lazy soul like me watched a ‘ray of hope’ in the term.
This time, I asked Google about this & it responded like: You got it, boy! Here’s some brilliant stuff for you!
I thoroughly researched and fed my mind with a rigorous understanding of passive income. Here I am going to present my learning with you in a way I learned.
So learning about passive income, we’ll have to know about active income first.
What is active income?
Active income is something that we all earn sweating and working all day.
My father goes to the office even before the sun wakes up and shows up from the East and he comes back after the sun bids adieu to the earth.
He is a salary-man like millions whose accounts are filled with cash at the start of the month. So well, simply, what my father earns is an active income.
I hope you get it.
What is passive income?
Passive income is the opposite of active income.
For earning active income, you have to actively participate in some stuff to get paid daily and monthly.
But with passive income, you can sit on your couch, play Netflix on your TV, and enjoy the thrilling moments, and all of sudden, in between nail-biting ends of shows, you get a message of the money transferred into your account.
That brings a smile on your face, for a few seconds obviously and then you go back to your show to enjoy the climax. That’s a passive income for you.
Got it? Let me put this straight. Passive income is basically the income that you earn by absolutely doing nothing!
Sounds exciting? Yeah, it really is!
Now, it’s time to dive into the actual reason for what you and I are here. Let’s open pages of the best passive income ideas in the year 2020.
Best passive income ideas that will make you quit your job
Ideas are born but they never die. They are only replaced with better versions.
Ideas are what encourage us to get ahead in our life.
Ideas are what distinguish us from others. Ideas are what make us feel alive!
Lots of philosophy? Let’s cut it. Here goes the list of ideas that matter!
1. Investing money
Hang on. Before you get super excited and quit your job to earn passive income, did I tell you that to earn passive income, you need a hefty amount of money to invest?
Well, yeah, it is right. You need to have some money in order to start anything.
Money is fuel. You need to have it if you are thinking of having passive income.
The investment brings income. So if you still have any job, turn your spending mode to saving mode.
Save a sturdy amount before you make any move for effortless earning.
You can hire any financial advisor or contact any broker in order to get expert advice.
If you ask me, you can buy anything that can generate a good amount, in the long run, would be the best option.
I have discussed this ahead in this article but I’ll leave you with an example of buying 60 x 60 shop and give it on rent can earn you a good income monthly, without doing anything!
2. Start a blog
A blog needs some nights & daylight to get started but once you get it done, it becomes a great source of passive income.
It takes a little creativity because hundreds of blogs are being made every day & there are also thousands of blogs already made & getting a great engaging response from the audience as well.
So only being creative here can make you stand out from others. Starting a blog is easy. You can sign up on websites like WordPress or Blogger to start a free blog, find an interesting name with the blog name generator and you are all set to go.
But it takes time to establish a blog that will generate you some good amount of passive income.
Blogs earn via different methods. They earn by ads, affiliate marketing, eCommerce services & much more.
3. Make courses and start teaching online
E-teaching is another one of the best passive income ideas internet users are opting to earn passive income.
It takes time. You need to have the proper equipment, stuff to present & editing takes time as well.
Some great resources to get started are Udemy and much more that you can find online easily.
But when you are done with the recording and editing phase, you can sell your course to many knowledge seekers or you can simply make a YouTube e-teaching channel and upload your videos sequence wise.
Wait for the audience to find you, if you have done your best, you aren’t only going to earn passive income, you are going to be star teacher and make fans all around the world!
You may also like: How to start a coaching business
4. Affiliate marketing
Many of you would have heard of affiliate marketing already and heard many successful, unsuccessful stories.
The thing is, affiliate marketing is all about commitment and persistence towards the goal. If you are doing it, do it with passion and the affiliate marketing will respond positively. It can make you some serious money.
Affiliate marketing, in very short, is a form of marketing where you refer people to some products or courses and get paid upon that.
There are many successful stories of affiliate marketing being the best source of passive income. It needs very little effort to set up. So if you are a little good with communication, affiliate marketing can be the thing for you!
5. Renting stuff, space or car
We keep looking here and there for some passive source of income being totally unconscious of the stuff we are looking for might be somewhere around us!
Look at your car. Car renting services are costing too much but they are still being used. The tourists or visitors that visit cities need their personal transport to use while visiting the city.
Renting your car can be the best fit for you here if you don’t frequently use it and if it’s in working condition. You can earn a good amount by renting your car as well.
Renting doesn’t only envelop the car. If you don’t own a car, that’s completely okay. Have a space in the home that is hardly used? Just rent it!
Renting a space is another renting idea that can work a great deal for you. Who knows, it can give you a best friend, or the life partner as well! The advantages are many with almost no risk.
Having a dweller, your space will also stay clean. Most of the people in the USA are offering their rooms, garages, or shops connected to their home on rent.
Even If you don’t have both, you need not worry. Because you can still have something that can be rented and earn you a good passive income.
A camera, laptop computer, or a gaming device can be a great choice to set on rent and start earning a hefty amount of income.
6. Place ads on your car
Do you enjoy driving? If yes, then now you can earn while driving as well!
If you don’t use your car most frequently, or if you a pair of cars, you can rent one car specifically for an ad service.
There are many ad companies out there waiting for people like you to decorate your car with some beautiful ads & send it for an advertising drive.
If you love driving, get your car decorated like a bride and go for a drive, playing your favorite music. A couple of drives will make your day as well as earn you money.
I’m telling you, you won’t regret doing this!
7. Create an e-commerce store
People are preferring e-commerce stores nowadays. Who loves to wander two to three malls in order to get the product he or she wants?
E-commerce stores are a flexible way of shopping. You can shop anything from anywhere just by resting on your couch. That’s why creating an eCommerce store can also be a great idea to set a platform for your passive income.
It needs a good investment at first to purchase the required merchandise that you want to sell. Once it’s ready, the only thing you need to do is pack the products & send it to your customers.
Creating & maintaining an eCommerce store needs little efforts but it becomes a cash cow once you get it run successfully!
Earning from your chair is no more a dream now
Earning money, in this digital era, isn’t’ any mystery. It’s easy for everyone, even for those who don’t have any experience!
Even you can earn money from wherever you are lying, sitting, or standing and reading this. I hope my article would have helped you understanding how to earn a good passive income.
That’s it from me. Now it’s my time to watching a new Netflix show.
I’ll leave my blog to you, and hey, little secret, meanwhile, you were reading this, I earned some dollars! That’s quite a proof, right?
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