In this video I’ll tell you the 5 BEST PASSIVE INCOME IDEAS AROUND and explain exactly how you can use these passive income strategies to generate more passive income in 2021 and beyond!
As promised, here is the link to my video explaining HOW TO CHOOSE AN INDEX FUND OR ETF TO INVEST IN: https://youtu.be/VPB1BJmDCw0
If you’re interested in checking out the gear I used to put this video together, here’s where you can find it:
PASSIVE INCOME IDEA #1 – INVEST IN INCOME PRODUCING REAL ESTATE
Real estate is a tangible asset which is seen as a safe place to invest money, so lenders are often willing to lend you the money to buy a property.
This is a huge benefit as it enables you to access leverage (borrowed money) to purchase an asset that you otherwise may not have been able to afford.
Buying a property to rent out not only produces a stream of monthly passive income for you (as long as the rental income exceeds your mortgage payment and other property expenses), but you also own the property and your mortgage is getting paid down by your tenants over time through the monthly rental income.
Property values have also historically risen over time, so the value of your property could well have increased by the time you come to sell it.
PASSIVE INCOME IDEA #2 – CREATE & PUBLISH CONTENT
Things like books and music are great ways to make passive income – it does take time to create the content initially but once you’ve put in the hard work on the front-end, you’ll be left with an asset that is yours to publish and sell in the future.
If it takes you 6 months to write a book, you won’t generate any income from it during that time, but when it’s complete it can be sold an unlimited number of times and can generate income for you for the rest of your life without you needing to put in any more work on it.
PASSIVE INCOME IDEA #3 – BUILD A SOCIAL MEDIA FOLLOWING
Social media platforms are a big part of everyday life for many people, and the sheer number of people using them creates an opportunity for content creators to provide something of value to people on a massive scale.
When you are successful in attracting a large enough audience, advertisers become interested in paying you to show their products and services in the hope that your audience will decide to buy from them.
Advertising revenue isn’t the only way to monetise a social media channel though – there are a number of different ways to create income on social media and this is something that I’ll go into in much more detail in an upcoming video that will be posted on the channel soon.
PASSIVE INCOME IDEA #4 – INVEST IN DIVIDEND STOCKS
Dividend stocks are shares of public companies which aim to pay out a regular dividend to their shareholders, so this can be a great way of earning passive income if you don’t have the time to go down one of the other routes mentioned in this video.
If choosing individual dividend stocks isn’t something you’re comfortable with, there are exchange traded funds (ETFs) which specifically invest in companies that pay dividends, and you can invest into one of these ETFs in the same way you would buy shares of an individual company.
ETFs also give you the added benefit of having your investments diversified across the different companies and industries in which that ETF invests.
One popular dividend ETF is the ProShares S&P 500 Dividend Aristocrats ETF (ticker symbol: NOBL) which invests in companies that have continually increased their dividend payments for a minimum of 25 consecutive years.
PASSIVE INCOME IDEA #5 – AFFILIATE MARKETING
An example of a popular affiliate program is Amazon affiliates. You can easily set up an account with Amazon Affiliates and you’ll then be able to generate special affiliate links for any of the products that are sold on Amazon’s website.
Each time someone clicks on your affiliate link and ends up purchasing the product that you were advertising, Amazon will pay you a commission on the value of that product, and anything else that the customer buys within their visit to Amazon.
Affiliate programs can be really powerful, especially if you have an existing social media following with whom you can share your affiliate links.
However, whilst having a social media presence will ensure that more people see your links, it’s not the only way you can generate income from affiliate programs.
An alternative idea could be to post your affiliate links into online forums where the products you are advertising are likely to gain interest from the members of that forum.
I really hope you found this video helpful, and if you did please be sure to give it a like and subscribe to the channel for more videos! Thanks so much for watching!!
*I may earn a referral bonus or affiliate commission through some of the links that appear in this video description.