Passive Income Ideas To Help You Make Money In 2023
What Is Passive Income ?Passive income is earnings from a rental property, limited partnership, or other enterprise in which a person is not actively involved.
Buy a Rental Property
You might want to purchase a home to rent out to an ongoing tenant or list a property on a short-term rental site like Airbnb
Invest in Index Funds or Dividend-Paying Stocks
Dividends are a part of many company’s profits that get passed on to shareholders. Company dividend payments can be quarterly, monthly or semi-annually and are usually fixed in terms of the number of shares an investor has.
Join an Affiliate Program
When you join a company’s affiliate program, you earn a commission from every product that someone purchases from that company. All you have to do is post the link on your blog, website, or social media pages. Amazon Associates is a great place to start.
Purchase a Blog
If you don’t have the time or energy to create content for your own blog, then look into ones that are already successful and see if the owners are willing to sell.
Create an Online Course
If you have a special skill or knowledge about a certain topic, you may be able to create a video course where you teach people about that topic and charge them to take the course.
Create a Mobile App
If you’ve been dreaming about an amazing phone app that you think a lot of other people would use, you may want to look into hiring a development team to create it
Self-Publish a Book
Through platforms like Amazon’s KDP, you can self-publish a book and earn a royalty on it every time someone makes a purchase.
Start a Blog
Blogging might seem like too much work to many people, but it doesn’t have to be a full-time job for everyone. For some people, blogging can be fun after a day at the office – and, with time and effort, it could turn into something more lucrative.
Start a YouTube Channel
If you enjoy creating videos more than writing, then consider starting your own YouTube channel. Once you get enough viewers, you can earn passive income through YouTube advertising.