Journal logo

101 Ideas for passive income — part 1

How to make a passive income?

By Cosmin ChildPublished 2 years ago 6 min read
Like
101 Ideas for passive income — part 1
Photo by Alexander Grey on Unsplash

What would it be like to earn money while sitting on the beach, sleeping, or just doing what you love? It sounds pretty tempting and what’s amazing is that it’s possible. How? By generating passive income.

Passive income is the best way to earn money consistently or to have extra income without having to work all the time or get an extra job.

Passive income not only guarantees you extra money but also security and many people have started to generate more and more money from such activities.

What is most convenient about passive income is that it generates money for you even when you are not involved in the activity or work in another income-generating activity.

Passive income can bring you a lot of money if you know exactly what a passive income is and how to make it a constant cash flow.

Whether you need extra money or want to relax more, choose to look for passive income ideas that will make you independent at some point and have more free time.

We present you with over 100 passive income ideas to choose from. Certainly at least one is right for you.

What does passive income mean?

Passive income is an income that guarantees a constant cash flow without you being involved in a daily commitment to producing that money.

Either you want to have an extra income or you want to not have to work every day after a while, a passive income can make them both.

The biggest benefit of a passive income is that it generates money with minimal involvement and low effort.

A passive income generally comes from an initial investment and which usually, but not in all cases, generates income for you after a certain period.

For example, a business can bring you passive income only after a certain period in which you have invested time and money, in time, a registered course can bring you immediate income.

Usually, the passive income in which you invest in certain financial products involves a lot of patience but also a lot of information.

Even if a passive income does not involve constant activity, you must be there, in the beginning, to make it happen.

Passive income vs. active income

Regardless of the money you make, your income is classified as active or passive income. And most likely you’ve heard of this concept but you don’t know exactly what the difference is between passive income and active income, let’s clear things up.

A passive income is a money that comes to you from an investment or activity that you have done in the past, while an active income is money that comes to you in exchange for providing a service. Here we refer to salaries, commissions, tips, etc.

The difference between the two is that on active income, once you have stopped working, to provide that service, your income stops. passive income, on the other hand, will be constantly generated, whether you are on vacation, sleeping, or working on another project.

In the case of a passive income, you have to make an effort now that will generate income for a long time, while for an active income, you probably make the same effort, but the income is for the moment.

Whichever way you choose, one thing is for sure. For both types of income, you have to put in the effort and work. Do not imagine that passive income does not require your involvement. Yes, that’s right you can now become known as a Lord of the Rings.

List of 101 sources of passive income

Ok, now that we’ve clarified what a passive income is and what the difference is between a passive income and an active income, let’s see how you can get an active income too.

There are hundreds of passive sources of income that you can consider depending on your passion.

So here are 101 ideas for generating passive income.

1. Rental income

Whether it’s an apartment, a house, an office space, or more, all these are sources of passive income that bring you money without you having to give yourself time in return.

If you have a space that you can rent, you have already found a source that you can turn into a passive income.

2. Deposit your money in a bank account

Although the interest rates are extremely low, it is still an income for which you do not make any effort.

So if you have cash, don’t keep them on the mattress but make them work for you.

3. Exchange your money in foreign currency

A good idea to make your money multiply is to change your money into foreign currency. Usually, this increases and you can make profits grandmothers, especially if you have the patience to reach a higher value.

4. Invest in municipal bonds

Investing in municipal bonds brings you interest but also a higher value, while your money is invested in certain projects.

You can buy them from the investment market, with the help of a broker, or through investment funds.

5. Invest in corporate bonds

Many businesses are financed by debt (bonds) to carry out certain projects and for which they are willing to pay interest.

They can be bought on the stock exchange or by investment management companies. But here you have to be very careful in which companies you invest.

6. Invest in mutual funds

Mutual funds are a portfolio of shares, bonds, or other financial assets offered by an investment manager.

If you want more diversity in the investments you make or to reach certain investments that are more difficult to access, they are a good source of passive income.

7. Invest in ETFs

ETFs or mutual funds traded on a stock exchange are a combination of securities (stocks, bonds, products) or a combination of all of these that you can trade (sell or buy) through a broker.

ETFs have a long-term return and are some of the most used types of investments to generate passive income.

8. Buy silver

It is expected that silver will be widely used in the future, which means that its value will increase greatly.

Ideally, you should start investing in silver now, as its price is relatively low, and be patient so that you can sell it in the future at a much higher price.

9. Buy cryptocurrencies

The cryptocurrency market is perfect for generating passive income.

Here you need to know how to make investments. If you don’t know how, but you have the money you want to invest, to have a passive income from crypto, you can turn to a broker to help you or you can use specialized platforms such as eToro, Crypto, Binance, etc.

10. Buy crypto miner

Miners are devices that mine various cryptocurrencies. Most of them have quite high prices, but you will get your investment back as your device starts collecting cryptocurrencies.

The idea here is not to sell the coins but to wait for their value to increase and only then to sell them to generate a passive crypto income.

11. Buy government securities

Investing in government securities is a very good source of passive and very secure income.

You lend money to the state that he uses and you get a very good annual interest. The big advantage here is that income is not taxed.

12. Use the cashback option

If you’re still shopping, why don’t you get at least some of your money back? Well, here’s a source of passive income that you spend while spending.

There are many ways to do this, from cards to certain platforms or sites that offer this service.

13. Open a marketing agency

A marketing agency is a very profitable business nowadays, especially because businesses need such services more and more.

After you have taught your employees or collaborators (because you can have a marketing agency even remotely) about what marketing is and how it is done, you have given them the information they need and the work procedures, you can withdraw from working every day and the money will keep coming to you.

See you soon with the rest of the opportunities.

adviceapparelbusinessbusiness warscareereconomyhistoryhow toworkflow
Like

About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.