We all dream about having the financial freedom that can give us a break from the monotonous 9 to 5 job with a limited salary. Something like making money while sleeping, roaming in a beach, spending time with family or freeing up time for other creative stuff. All of these desires that we often shut down as dreams are actually possible with Passive income.
What is Passive income?
Passive income refers to the effort you put once for creating a source of cash flow for a lifetime. It can be real-time assets investments like stocks, bonds, real estate properties, or running any business and anything that generates continuous cash flow even when you are not working.
How to make money with Passive Income?
They are various ways to make money by passive income but the following 5 ideas assure maximum profits.
1. P2P investments
If you are not afraid of investments, go for P2P websites. Fast Invest is an excellent P2P platform that lets you put deposits on the site as an investor and matches suitable loans from its database as per your deposited amount. You can check out myinvestment for brief knowledge of this P2P platform. This loan is borrowed from you by a borrower, the website starts applying current interest rates on your deposited amount to make a profit up to 16% interest rate by increasing your ROI. It also offers loan buyback guarantee if the borrower is late in the loan payment and a money back guarantee if you wish to stop investing in the site.
2. Affiliate Marketing
Affiliate Marketing is the technique of promoting products and services of other brands online to make sales for them and in return make good profits from the commission offered by the brands on each sold product. If you have a blog with a good fan base or your own website, you can easily add referral links and ads to promote products of other brands. As soon as the customers make sales for the brand from your referral links, you earn a commission on the product selling price. You can also promote products on social media platforms to make sales.
3. Real Estates Investment
You can rent your properties to make steady monthly profits. But, if you don’t have any property to rent, you can invest in crowdfunding websites, and REITs to invest in third-party properties. You can choose to invest in real-estates directly by becoming an accelerator investor or if you don’t have that much money to invest, you can go for the properties with small investment value. The crowdfunding websites and REITs suggest investment choices based on your deposited amount and help you make a profit from the monthly rents and property selling price.
4. From Dividends
If you have a lot of money to invest, dividends are the best source to create passive income. You can invest in stocks or shares of companies that have steady market growth with increasing profit rates. Dividends are the profits made by the company that is distributed to the shareholders and owners. By investing in company shares, you hold a tiny part of the company and hence when it makes profits, you are benefited equally along with the owners. Dividend investments mostly yield high profits when you invest in reputed blue chip companies. However, if you don’t have too much money to invest in stocks, you can always go for mutual bond investment and make profits from the applied interest rate.
If you have good writing skills, go for Blogging. You have to create online blogs and write contents that add value to the readers. You can go with the trending topics or choose to write on popular niches like- Fashion, Education, Travel, Finance, Health, Technology, etc. The investment here is only for blog hosting and SEO which is very low.
You need to be consistent with your blogs, interact with the users, build a strong fan base and then utilize it to make profits. The initial process needs hard work but, once you have a good fan base profits keep on generating just like selling copies of e-books.