Passive income seems like this elusive dream that everyone online and off is chasing after. The harsh truth is, however, that there are very few real ways to earn income passively in this world. You have to be ready to put at least some effort into maintaining any passive income system. With that being said, many options get very close to hands off profits. Some of them are well-known and have been used for decades while others are a bit more obscure. Let’s take a look at a few great ways to earn passive income.
Affiliate Marketing
If you don’t know what affiliate marketing is, this is when companies pay you a commission whenever you refer a person to their product or website and they make a purchase. The way companies can tell who sent a customer is by using a URL identifier that installs a cookie on the computer of the person that follows that URL.
Your job as an affiliate will be to push those links in whatever way you can. You could have an auto-responder series that will introduce products to subscribers on an email list, have a review site or blog where you’ll be discussing items, or have one or a series of free or paid info-products with affiliate links embedded naturally within the content.
One of the best things about affiliate marketing is that getting started is fairly easy. You can also set the whole thing on auto-pilot depending on the approach you take. Autoresponder series can be loaded in advance with pre-made content. Blogs can also be updated with premade posts automatically.
Stock Market Investing
Stock market investing is probably the most well-known and time-tested way to earn passive income. It is also the closest thing to truly passive income we can think of.
You can hold an exchange-traded fund that will track one of the major indices and earn dividends. Or you could pick individual dividend-paying stocks, though this is a more difficult approach. Apps like Robinhood allow you to build an ETF portfolio with a robo advisor while others like Stash and Acorns will automatically invest your spare change in index funds.
Property Investing
You may be asking yourself how it’s possible to invest in property passively, but it is. You could have someone look for properties for you and even bid on them based on your requirements, then have this property managed by a company. You can also invest in REITs if you want even more passive income. Or you could form a group with someone who knows homes and how to maintain them and give them a majority stake so they can handle most of the work themselves.
Build a Coin Up Empire
When people think about coin-op, they usually think about vending machines. While vending machines do not require that much attending to, they are not the most passive source of income. So, you might want to be more creative here.
One thing we suggest you look into is arcade machines and coin-op rides. These can be installed in busy areas like outside of department stores or laundromats and get you truly passive income. All you’ll need to do is have the machines fixed if needed and collect your money, which is something you could have someone do if you wish.
So, if you want to make money with little to no active effort, then you should look at these options. They all have varying levels of risk and involvement, so do your research and speak with other people in these businesses so you can get their opinions.
Talha Ali is your tech generalist, covering a wide spectrum of topics within the ever-evolving world of technology. With a curiosity for the latest innovations, industry trends, and breakthroughs. Whether it’s hardware, software, emerging technologies, or the intersection of tech with daily life, Talha’s articles provide readers with a well-rounded perspective on the dynamic landscape of the tech industry.