Passive income is a stream of income that requires little to no effort to maintain. Here are 15 ideas to help you earn money while you sleep:
- Invest in stocks or mutual funds through a robo-advisor such as Betterment or Wealthfront.
- Rent out a room on Airbnb or rent out your entire property on a short-term rental platform like VRBO.
- Create an online course and sell it on platforms like Udemy or Teachable.
- Publish an ebook and sell it on Amazon Kindle Direct Publishing.
- Invest in real estate through a platform like Fundrise or RealtyMogul.
- Rent out your car on Turo.
- Invest in dividend-paying stocks or exchange-traded funds (ETFs).
- Monetize your blog or YouTube channel through advertising, sponsorships, or affiliate marketing.
- Create a mobile app or game and sell it on the app store.
- Sell stock photos or videos on sites like Shutterstock or iStock.
- Invest in peer-to-peer lending platforms like Lending Club or Prosper.
- Buy and hold rental properties, either through traditional means or through a real estate investment trust (REIT).
- Offer your services as a freelancer on platforms like Fiverr or Upwork.
- Create and sell a physical or digital product on sites like Etsy or Shopify.
- Participate in affiliate marketing by promoting products on your blog or social media.
Remember, generating passive income takes time and effort up front, but the benefits can be substantial. Choose the methods that align with your skills and interests, and watch your passive income grow.