Passive Income
Welcome to www.makeeasypassiveincome.com! This website is for people that are looking for ideas to make money continuously. There is a concept called passive income that can work to your advantage and help you achieve this goal.
Passive income requires little to no effort to earn and maintain. It has been shown that one of the best ways to build wealth is to turn your active income into multiple passive income streams. One study showed that on average at least 65% of millionaires have multiple streams of income.
What is needed to set up a passive income stream?
Generally speaking, setting up a stream of passive income does require some work up front. It will usually require an investment of money, time, and/or energy. The idea is once it is set up properly it will begin to generate a consistent source of income. This could pay out monthly, annually, or whatever time frame is applicable for that income stream.
How much money can you make from passive income?
The amount of income you receive from one of your passive income streams may vary significantly depending on the type of passive income stream you choose to set up, the thoroughness of its set up, how much initial investment you put into it, and whether or not you choose to take additional steps once it’s in place to further increase the income potential for that income stream. Depending on your effectiveness with these factors it could be as few as a little bit of pocket change to as much as thousands of dollars or more repeatedly.
What are some examples of passive income?
When you begin to look at opportunities to make money when you are not physically doing the work it is often going to involve creating a piece of work that can be used continuously for income after it is completed.
A great example of a passive income stream like this is found in writing. There are some people that engage in ghostwriting where they can get a one-time payment, but they turn over the rights to the work for a book, article, or other writing project. This means that this writing is no longer able to earn any additional income for the writer. People that engage in writing when they publish for themselves can continuously make income on the work over time, or they can get royalties when others publish their work if they have an agreement in place initially to receive it.
Writers can also get paid for writing songs. If they are writing music for others they can set up agreements where they get paid because they own the publishing.
One study showed that real estate is one of the best forms of passive income due to typically having high returns. A one-time purchase of a home that is rented out can earn income repeatedly. However, we’re going to look at several different ideas for passive income on this site including real estate, and you can determine what works best for you. Keep in mind it often makes sense to diversify your investments to provide a cushion for yourself in the event that a one or more income streams aren’t performing well for a certain period your other unrelated income streams can help you maintain your lifestyle if needed until the struggling streams get back on course.
Passive Income Ideas
If you have ever read a book on how to get rich or listened to a Ted Talks by an entrepreneur, you’ve probably heard the term passive income. By definition, passive income is income that does not come from active participation in a business. In layman’s terms, it’s a passive income stream that will make money for you in the background with little to no effort on your part.
Most successful and wealthy individuals have many different forms of a passive income stream; this income is part of the secret to their success. In this day and age, with the cost of living being higher than the average monthly income, it’s sometimes hard to make money and get by with what you can scrape together, let alone the thought of trying to save money. Investing in a passive income stream is a great way to help build and save for an unexpected future.
Some popular forms of passive income include:
Write and Self-Publish a Book
Rental Properties
Loan Money via Peer-to-Peer Lending
Crowdfunding
Real Estate Investment Trusts
High-Yield Dividend Stocks & Funds.
Start a Blog
Sell Your Photography as Stock Photos
Certificates of Deposit
High-Yield Savings accounts
Now that you have the basics, go start investing, make yourself some money and start building for your future today!
Passive Income Idea - Rich Dad Summit
The Rich Dad Summit was an online summit that allowed a person to make a passive income from their own home. A residual income can provide more resources to allow a person to enjoy life to a greater capacity than they might without it. A recording of the Rich Dad Summit is available and it can help make this possible an additional passive income possible. The Summit is geared towards people that are new to the concept of passive income, and are looking for ways to create it.
Rich Dad Summit has one goal and that allows a person to make a passive income so they can work less and spend more time with their family. Rich Dad is an online program where over 2 days a person will learn how to create a system so they can make a residual income from home. They will learn the secrets of making money and will use the system to make their income.
During this summit, a person will listen to professionals that have been able to learn about investments and learn how to build wealth over the internet. They will learn how to make money and to use this money to increase their wealth. This is another idea to help with your journey of creating passive income. Check it out here.
How to Make a Passive Income with Google AdSense
Google AdSense is a good method for creating a real passive income. Whether you’re looking to make money part-time or make money as a full-time website publisher (with several websites), Google AdSense can be part of the right path for you.
One of the huge benefits of Google AdSense is that all you need to focus on is creating the actual content and getting traffic to that content. Typically, that content will need to be SEO-optimized to drive traffic to your site, since the margins are lower with AdSense than other forms of monetization. However, once the website is all set up, it is one of the if not the most passive income sources you can create as an online business. You never need to worry about affiliate links or what you’re going to sell. The display ads do all the work, helping you make money whether you’re working on the site or not.
Remember, the business can go as big as you want as long as you’re willing to roll up your sleeves and put in the work. Treat it like a real business, and you’ll be making an income like a real business owner given enough time.
Passive Income - Publish A Book
Activity is involved in establishing passive income when a writer sets out to publish a book. It may be wise to consider other means to make money alongside the choice to generate royalties from book sales. That activity includes time spent on topic research, deciding between fiction and nonfiction, genre, time spent on choosing publishing form: e-book, a print book or both; will a hard or soft cover be used and cover art. On what website will you publish a book? There is also a matter of marketing and book promotion once the manuscript is in the marketplace.
A 2012 survey notes that on average passive income from publishing a book ranges anywhere from $500.00 to an average of $10,000.00, or of course substantially higher by some. Statistics cite nearly 50 percent of authors make money amounts under $500.00 yearly from book royalties.
In terms of revenue, romance fiction is a high seller followed by science fiction and fantasy. Consequently, quality, personal dedication and writing what is wanted or needed will improve odds to make money from producing a book. Industry experts recommend one to publish a few titles to help garner income.
Passive Income - Rental Properties
There are many different ways to make income, and one of the growing trends is passive income. Passive income is a way to make money through your investments such as rental properties.
A lot of people are turning to owning things like rental houses to help them bring in quite a bit of money. Making this type of income is a great idea for those that are looking to retire or save for retirement or anyone with the means to acquire a rental home that would like the additional income. This is a great way you can make money on the side of your 9-5 job.
Owning rental properties is a growing trend because it helps people rake in money in a very big way. According to The Pew Research Center’s analysis of U.S. Census Bureau 36.6% of households are renting their home which is more U.S. households renting than at any point in 50 years. So this is a great time to benefit from that trend. Rental properties are a smart way to bring in passive income and is sure to be a significant source of income for many people as the years go on.
Is Peer-to-Peer Lending Safe as a Passive Income?
Commonly known as P2P lending, peer-to-peer lending is lending money to individuals or businesses by simply matching lenders with borrowers. It’s how payday loans work, for example.
As a source of passive income, peer-to-peer lending can be very risky. There’s never any guarantee that your ROI will balance out what you invest. It’s advised that you don’t make too large of an investment into one loan. If it goes bad, your ROI will not balance out. As a result, it’s best to diversify your loans and try to make sure you invest in people with good credit. Generally, the minimum that you can lend is $25. However, if you start with $500, your ROI will become $2,500 at a much faster rate. It’s also recommended that you don’t do P2P lending as a source of passive income unless you have at least $10,000. Additionally, many experts recommend having a minimum number of notes that range from 100 to other quantities. Always do your own research and seek advisement from a knowledgeable expert/friend/mentor before making any significant financial decisions.
Passive Income - Real Estate Investment Trusts
Real Estate Investment Trusts, or REIT, is a great way to make residual income. REIT is pretty forward. The business model uses spaces and collects rent from properties, then distributes that as an income to all the shareholders.
The more shares you have in real estate investment trusts the more passive income you’re going to make, especially if that investment is doing very well. Anyone is allowed to invest and around 87 million Americans are invested in real estate through their 401(k)plans.
Unlike all investments, however, there are some cons. These can include no tax advantages, subject to market risks, possible high transaction fees, and little to no growth that can be expected in certain situations.
However, there is a good amount of pros to real estate investment. Liquidation is a steady pro. Steady dividend growth is also a great pro, and risk-adjusted returns can positively increase your passive income.
If you are an investor you might want to consider investing in Real Estate Investment Trust to add diversification in your investment portfolio and possibly increase your annual residual income.
As for 2020, some of the best REIT investments to look for are SITE Centers, Boston Properties, Duke Realty, HealthPeak Properties, Mid-American Apartment Communities, and W. P. Carey.
These are all steadily growing with great dividend growth. It is definitely worth looking into for your next possible investment.