November 30, 2020

5 Ways to Earn Passive Income

You may have a 9-5 job that pays you well. But maybe, deep down, you want to be earning for more. You want more time freedom and flexibility as you earn. Here is a list of ways for you to earn income passively while having your regular full-time job.

Passive income is what you earn without requiring you to do lots of active work to make it. Yes, it is possible to create something that will generate money for you even when you are not “actively” working for it. You may also earn passive income by owning something, like stocks or property.

Here is the list of ideas to start earning passive income:

Dropshipping Store

Let’s start with dropshipping since it is one of the most lucrative sources that passively earns which you can find online.

It works through looking for products that are trending, and chooses to sell them online to different clients around the globe. You can sell them through different dropshipping niches. The magic here is that you’re creating a business and managing how you charge your own products.

Start Blogging

The most famous passive income resources seem to originate from blogging. It has helped almost countless entrepreneurs to earn passively through courses, affiliate links, products, sponsored posts, and many more.

It is fine taking a bit of work to build and make your blog successful. Yet, it is one of the most sustainable means to creating an audience through social and organic traffic.

Create an App

If you are a programmer or developer, you can also earn passive income through creating apps. You can earn by either charging people who want apps, and also by monetizing with ads.

Investing in Trading

When you see the list of the richest people in the world, you will say that trading has played quite a big role to them, either stocks or forex trading.  Invest time in reading and studying to improve your ability in investing. Doing this can help you make passive income that is beyond your 9 to 5 worth of job. You may start with a free demo account for you to have an idea or experience how forex trading works, minus the risk.

Own a Property

Real estate can be a good way of making passive income too, depending on where your property is located. You may consider buying condos that are pre-construction, because by that, you can get it at a lower price which will increase its value by the time they are completely built. And that will allow you to sell them for a profit.

Passive income resources are really a great help to increase your earnings. These can help fill the gaps of your regular job. It can also be a choice if you are looking for an income source to replace your 9 to 5 income job. It’s also fine if you want to do both since passive income jobs are manageable.

Starting a shop, owning a property, creating a blog or start forex trading – whichever you find interesting and profitable, all you have to do is to get started.