Passive income is the top way to financial freedom. Passive income allows you to be minimally involved while earning you income.
What are the best ways to make passive income?
Everyone wants and desires passive income……..
Why do people want passive income?
With passive income comes financial freedom. If you have enough passive income, you no longer need to sit at a desk and work for a boss.
Who would want to make the executives and owners of the company richer anyway? They already have it made and most likely have what is called golden parachutes. These Rich *&^%$$ could care less about us working folk. They make more money in a month then most of their employees make in 10 years working for them.
Okay, back on track for discussing the best passive income investments.
Passive income streams require an upfront investment of money or time in the beginning.
After some time and hard work, these income streams start to build and can maintain themselves, bringing you consistent revenue without much effort.
Here is a quick list of the best passive Income Investments:
- Dividend Stocks
- Rental Properties
- High Yield Savings Accounts And Money Market Funds
- Invest In A Business
- Sell an eBook Online
- Create a Course
- Sell Stock Photos
- Create an App
- Affiliate Marketing
- Network Marketing
What does it take to earn passive income?
You have to choices when it comes to best passive income investments for you:
1) An upfront monetary investment, or
2) An upfront time investment
It’s that simple; you have to be willing to provide at least one of these two.
The list of passive income ideas has options for both people—Those with more money to invest and those with more time to spend.
Here we are going to list the best passive investments ideas that cost money as you scroll down you will find the investments that cost less money but require more time.
Upfront Monetary Investment:
These types of passive income require you to invest money up front.
1. Dividend Stocks
Dividend stocks are a true way to earn passive income. There are numerous dividend stocks to invest in. AT&T and Wells Fargo are some of the bigger ones.
To maximize these investment opportunities, make sure you open an account at one of the top online brokerages and pick a reliable system to pick out dividend winners with low risk.
2. Rental Properties
A positive cash flowing rental property is a perfect way to bring in a monthly income. To make this truly passive, you can outsource the management of the properties.
3. High Yield Savings Accounts And Money Market Funds
If you don’t want to think much about your money, but want it to work for you, it is a central place to put it in a high yield savings account or money market fund.
Annuities are not for everyone if you want the assurance of a monthly payment and don’t care about the yield rate; this may be an option for you.
5. Invest In A Business
A great way to generate passive income is to invest in a business. You can be a silent partner in the business, allowing you the free time.
6. Sell an eBook Online
Self Publishing is simple in the digital world of today. When you purchase an eBook off of Amazon, there’s a pretty good chance you’re buying a self-published book.
7. Create a Course
You have knowledge! It could be anything from woodworking to grocery shopping. If you have a skill, you can sell a course online to make passive income. Once you set it up, all you have to do is get people to the class, and you can charge them a recurring monthly membership fee.
8. Selling Stock Photos
Do you ever think about where your favorite blogs, website, and even magazines/newspapers get their photos? Stock photo websites have become the norm. If you enjoy photography, you can submit your photos to stock photo sites and receive income every time someone purchases one of them.
9. Licensing Music
Just like photos, you can license music and earn a royalty.
10. Create an App
If you own a smartphone, then it’s safe to assume you have several apps downloaded. If you have a good idea, you can build the app yourself or hire a programmer. There is some crazy money to be made in this field.
11. Affiliate Marketing
Affiliate marketing is selling someone else product. You can do this with a website, email marketing, or even cold marketing. If you think you’re great at sales or marketing, there is all kind of products you can sell.
12. Network Marketing
Network marketing, Direct sales are also known as MLM (multi-level marketing), seems to be on the rise. Companies such as USANA, Avon, Pampered Chef, Legalshield, and AdvoCare are all multi-level marketing companies. You can earn passive income by selling the company’s product, plus you can earn by building a team underneath you (often referred to as a down line.) This is a highly rated idea for best passive income investments. For a minimal money investment, your earning potential can be high if done right with nothing more than a major time effort.
Keep in mind it can be tempting to pick two or more passive income ideas to get started with. I encourage you to pick one to begin with. You need time and the ability to focus on growing a passive income stream.
Once you have mastered one, then move on to the other.
Pick an idea and make a plan. Then dedicate yourself until that income stream starts producing reliable income.