Here’s a concise overview of ways to earn passive income:
- Real estate investing:
- Rental properties
- Real Estate Investment Trusts (REITs)
- Dividend stocks and index funds
- High-yield savings accounts or certificates of deposit (CDs)
- Peer-to-peer lending
- Create and sell digital products:
- E-books
- Online courses
- Stock photos or music
- Affiliate marketing
- Create a blog or YouTube channel with ad revenue
- Rent out assets:
- Spare room on Airbnb
- Car on Turo
- Parking space
- Invest in businesses as a silent partner
- License your intellectual property
- Create a mobile app
- Vending machines or laundromats
- Write a book for royalties
- Create and sell print-on-demand products
It’s important to note that most passive income streams require initial time, effort, or capital investment. The “passive” nature often comes after this initial setup phase.