What is passive income and how can it benefit you ?
Passive income is where you receive income from works you have done in the past. You are not actively working to earn that money. It comes into your bank account with very low or no work on your side.
Active income is when you have to put your time in to get paid. You are actively doing the labour like jobs , tasks , etc….
The benefit for having a passive income stream coming into your bank is for two things: security and lifestyle.
Security : just in case you get fired , layed off , quit or can’t take the job life no more you always have income for you and your family so you don’t have to stress about where the next paycheck will come from.
Lifestyle : with the extra income you can do things with your life to better it and enjoy it with your family as well , vacation , new home , car , etc…
In this day in age everyone should have one or multiple streams of these passive income ideas.
Disclaimer : all these ideas that will be mentioned in this blog post will take work. It’s not get rich quick idea, it will take a lot of discipline and consistency to build at first to a level that you want . The sky’s the limit.
Passive income idea # 1 Stocks Investing money in the stock market or shares in a company. It’s where you take your money and start to trade your money in the market so if you work a job and you take some of that income and invest it into the stock market or company you will start to get something called dividends which you get depending on how the stocks or shares do in the market. learn more
Passive income idea # 2 write a book or Ebook. This is where you write a book, get it edited and then publish it , and when your book starts to sell you will receive something called royalties from the sales from your book . learn more
Passive income idea # 3 youtube channel ( content creator ) as you know there’s two side of youtube the person how is watching and the person who is the creator that get paid so many people start this part time just uploading videos they created that will benefit someone what watches and when you reach youtube 1000 Subscriber and 4000 watch hours in 12 months you can apply for the youtube partner program which pays you for the view you get on your channel and videos . learn more
Passive income idea # 4 Blog this is where you create a website and blog about topics that people are searching for and google pays you from there adsense dollars by you signing up to google adsense and adding it to your website and every time you someone view your website or click on the ads on your site that google place you will get paid from the ads dollar .
Passive income idea # 5 Affiliate marketing is where you sell other people products meaning you get a unique link that you can place on your website , social media platforms and when people click your link and make a purchase you will get a commission for recommending products or services you already use . learn more
Passive income idea # 6 Talent . If you are a person with a talent such as singer , artist , sports , actor and many more you can get paid for doing the thing you have a talent in . by getting paid royalties for your great talent.
Passive income idea # 7 Network marketing this is where you earn money in commission base from selling products or services to customers and personal use in a person to person or over the internet and by building a network of people that are doing the same thing, you get a percentage from the company for just referring that person and the sales you make each month. learn more
There you have 7 ways to make passive income starting today. I hope and wish you start one or more of these ideas and build it to where it’s successful and bring in passive income to you and your family . If you have any questions please leave me a comment and please share this with your friends and family. That will mean a lot to me. Thank you very much.
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