Top Sources of Passive Income
Who says you have to work hard just to earn some cash? In today’s online world, earning money even without doing anything is possible! Place your bet on passive income-generating ventures and you’ll see what it means to earn money without toiling so hard. According to the Internal Revenue Service, passive income is money earned from any form of business activity on which you do not directly, or at least physically, participate. Traditionally, passive income comes from investments like dividends, rentals, annuities and royalties, although the rise of the internet age has also boost other passive income streams.
So, if you think you are in boost your income stream, here’s some of the best passive income opportunities that you may want to try out.
1. Write your Book (or e-Book) and earn royalties!
Royalty is the author’s percentage in the money made out of selling his book. This means, as long as your book is making money, you will also make money. So, if you are an expert about something and you want to turn your ideas into something that will add cash to the coffers, Khoa Buhi, entrepreneur, author and speaker, http://www.secretsentrepreneur.com/business/9-ways-earn-passive-income, suggests that you write a book now! But what if you don’t have enough time to write? Here’s how you do it: Spend at least 5-10 minutes a day and for that long, you could definitely come up with a page or two. Do this every day and in one year, you’ll have a book done and published. After this, you can get it sold on bookstores or publish it yourself at Kindle.
2. Niche Websites
The internet holds so many passive income generating opportunities, but the problem is, not all are ready to grab it. Online marketing is one way. The process is fairly complicated at first, but once you get used to it, you’ll also get used to the cash flowing in. Start looking up for the keywords, study the market, and create a website where you can put ads or sell products. That’s another way of earning income passively.
Aside from writing books, blogging also provides a decent source of income. Posting consistently, at the same time placing advertisements on certain portions of your blog, is a sure fire way of making money, although you’ll have to work hard to attract and sustain traffic, least, your blog won’t earn.
4. Real Estate
Buy low, sell dear. That’s the essence of real estate investing. Develop it, build houses or apartments on it, and let people in. They’ll pay you and you’ll earn money. If you don’t have a track of land and you only have a spare room available, you can still it make money out of it by renting it out.
5. Affiliate programs
According to Loretta Love Huff, who writes for Evan Carmichael http://www.evancarmichael.com/Women-Entrepreneurs/2951/Create-Passive-Income-Stop-Trading-Time-for-Money.html, affiliate marketing is a great way to supplementing your income from your blogs, especially if it enjoys a substantial traffic. It works like this: you sell someone else’s products then you’ll get a share of revenue in return.
6. Dividend Investing
Together with real estate, investing on dividends is one of the more traditional forms of earning passive incomes. Mark Riddix of Moneycrashers.com http://www.moneycrashers.com/strategies-for-earning-passive-income/, writes that in dividend investing, make sure to pick only those high earning stocks. Stocks from Verizon or AT&T, for example, currently yield 7% in dividends, while Real estate investment trusts (REIT) also offers equally-exciting returns.
7. Limited Partnerships
A limited partnership is a form of business ownership, where one or more partners, called limited partners, do not actively participate in the day-to-day running of the business. Although they actually own part of the business, the only thing they do is to make an initial investment and get their share of the profit.
8. Google Adsense
Monetize your blog by installing Google Adsense, which is considered as the easiest way to bring in some cash to your website. Depending on the amount of traffic, you can earn as little as a few cents to as much as few hundred dollars (or more) every day.
Despite the numerous opportunities of earning passive income, still not too many people know about it, let alone show the interest to explore the different options available. That is why, even if they have all that it takes to succeed in venturing with passive income streams, still so many people endure the 9-5 workday routine contained inside their office desk, doing the same task day by day. But if you just take time to grab the opportunities, life will definitely become better with passive income.