You might have heard of “Passive Income” but do not understand it truly or do not understand it for 100%. Let’s get to know what Passive Income is and see what we can make a benefit out of it. Maybe money may flow out of nowhere to you.
Passive Income is the income from what we have done in the past, but you still get that income continuously even though your jobs have already been done. It can be considered to be money that generates cash flow or income back continuously.
Otherwise, Active Income is the income that comes from service in form of wage, salary, commission or tips. It is the money that comes from regular work.
The creation of Passive Income via online channels is gaining huge popularity today due to its high flexibility and ability to work from anywhere and anytime.
People who like to take a lot of risks have to accept the consequences as well. When it comes to Passive Income, one of the first ways people talk about it is to create Passive Income through stock or dividend funds investment because it is the most popular way. Investments in stocks or funds need to be thoroughly studied first. Investments in stocks with strong financial statements, consistent dividend payment and long-term growth should be selected. In addition to creating a passive income from dividends, there is also the possibility of a good return from the capital gain.
The other way to make passive income that people talk about as much as stock and dividend fund investment is Lease Property. If you have property whether it is a house, condominium or land, try using it to make your income by renting it out instead of leaving it vacant. It will give you a consistent Passive Income every month.
This is recommended for people who specialize in some subject and want to share knowledge. All you have to do is create an online lesson with good quality and meet students’ needs. You can price online courses as much as you want, and when students buy them, you will earn a Passive income from selling them online courses.
For people who love taking photography and bringing cameras everywhere can make passive income by selling pictures online. You can put your picture for sale on websites such as Shutterstock, iStockPhoto, Freepik, and Adobe Stock. You can re-sell a picture as many times as you want without buyer limitation. The more pictures for buyers, the more income you can earn. However, the price of the pictures may be different on each website.
People who love telling a story by writing can write a book and sell it in the form of an E-book to make passive income. There are many websites to sell E-Book such as Ookbee, Meb Market, and Arn Book.
People who love writing novels can make a passive income as well. Apart from those websites, there are many online platforms that allow people to show off their skill in writing novels such as Joylada, ReadAwrite, and Tunwalai. Writers will get some share from the platforms. The more readers, the more share writers will get. If your novel is loved by readers, you can earn coins from them as well.
If you love shopping on online platforms and like to share great items on social media, Affiliate Marketing is a perfect way to make passive income. You can write reviews and attach Affiliate links. If someone clicks on a product or service via your link, they will receive a commission. The percentage of commission fees will depend on the terms of each platform and product or service.
People who have lots of clothes, especially young generations who love fashion as a lifestyle, often buy clothes until there is no more space to store them. Try changing clothes that overflow the closet and making money by opening clothes rental shops through social media platforms such as Facebook, Twitter and Instagram. Anyone who is good at speaking or live streaming can use Tiktok, the current platform, to add spice to our store.
The trend of Digital Assets is still rising and being used in many industries. One of the ways to create Passive Income through digital assets is to sell NFT. Most of the works sold are digital currency art on the blockchain. If you create a product, you can sell it as well as sell pictures through websites. NFT sales will need a Crypto Wallet to receive money if you sell it. You will receive money in digital currency.
Peer-to-Peer Lending or P2P Lending is new personal-to-person borrowing via an online channel with a platform to mediate the matching between borrowers and lenders. Lenders will receive a return of 9-12 percent on interest, without the need for a large amount of capital to be able to lend.
If you’re a person who’s interested in investment and finance, one of the additional careers that creates Passive Income for you is the “Financial Advisor”. It is a profession that provides financial planning and investment advice to customers, provides investment portfolios to help them achieve long-term financial goals through various financial products such as stocks, funds, insurance, etc.
Financial advisors are independent professionals who can schedule their own time and earn unlimited cash in the form of Passive Income through investment commissions from customers under your care.