The Internet has made it possible to create Passive income ideas online to earn an income. This type of income requires little management once the system is set. It doesn’t mean it is easy but it is doable. If you are totally focused and want to earn money, it is possible.
Reading books about money management and personal finance always teach us how to stop trading time for money.
Passive income ideas online for residual income
What is passive income?
Passive income or residual income is what most of us dream about. It is the income which can be produced without trading time. Initially, you have to put a lot of work, but down the road, you will be able to generate passive income which will need little to no management.
Technically passive income is earned from rental properties or from the business where the person is not actively involved.
Nowadays, passive income is given a new definition. Any income earned through the means where the person has to put little to no efforts.
Passive income streams
There are many ways to build passive income streams. Investing is the most obvious one. But the internet has made it possible to generate online passive income ideas.
There are different ways to generate passive income
- Investing in rental properties
- Investing in stocks, index funds, CD ladders
- Mutual funds
- The business which you don’t run actively
To invest money in rental properties, mutual funds and other investments, you need to have a good amount of money. What if you don’t have enough money?
Here come the passive income ideas which the internet has provided us. These passive income ideas don’t need lot of money. Instead, you have to put a lot of efforts, time and hard work to start earning the fruits.
Passive income ideas online for residual income
Online courses are a great way to add a passive income stream to your income portfolio. You have to work hard once you are starting your course but gradually you will be able to make a good income out of it. There are some prerequisites for this.
- People should be willing to learn that skill
- Your course should be able to teach a specific skill
Creating an online course need you to put your hard work once and if done properly can generate passive income for years to come. Online platforms have made it possible to create online courses and sell them without much hassle.
2. Start writing ebooks
As in line with the first one, ebooks are a great way to start earning passive income. You create once and then earn money for years to come. Amazon is a great place to write books and self publish.
Additionally, you can sell your eBooks on your blog also. If your content is in line with the product you created, it will be easy to sell the product.
If you have your own audience, you can sell your ebook to your followers. Survey your audience before creating a product. This will give you insights into what you should create which people want to read.
3. Start a Blog
This one takes a bit longer to give you any income, but once the hard work is done, it starts giving you a lot of money. There are many bloggers who are earning good money. Some of them are new and some are blogging since few years.
Just like any other passive income stream, blogging takes time to build but once the momentum is created, it can become a very good source of passive income. It will not be totally passive as you still have to work on it but the amount of work will be a lot less.
Having a blog makes it easy to earn passive income online. There ae certain ways you can make passive income :
- Adds on your blog
- Affiliate marketing
- Selling online courses
You are creating content anyway and making money from that is a totally passive and having Adds in your blog make it possible.
4. Affiliate Marketing
Affiliate marketing is done in many ways, through a blog is one way. It can be done through email marketing, social media or through a blog, youtube videos. There are many ways to earn money through affiliate marketing.
If you have a blog, Affiliate marketing is a bit easy but it can be done even without a blog. Those who are into affiliate marketing know the value of Email marketing, Social media marketing.
If you want to learn affiliate marketing, you can learn it from this course. It is a detailed course which is helpful for beginners
5. Start a Podcast
People love to listen to podcasts while driving, in the gym or doing other work. Though videos are considered a better medium, everybody cannot sit and watch videos. Here comes the need to provide information through audios.
To start a podcast, it is better to start with a tighter niche and then move on from there. You can always add more topics later. Some of the niches which are considered better for podcasting are:
- Fitness and weight loss
- Pet care
- Personal finance
- Make money on the internet
- Personal development
There are many more and you can think of some of the topics which you are skilled at.
6. Create printables
Digital products can be a great passive income idea. There are many types of printables that can be created, ranging from budget binders, task planners and fitness binders.
Having digital planners means you can create a product once and it will give you income on autopilot without much management. I don’t say it is easy but it is doable.
There are many ways to do this
- Start selling on Etsy
- You can have your own Shopify store
- You can sell printables at creative market
Printables sell at a really good speed and if you can create a simple and functional printable, you can make a good income.
10. Email Marketing
Email marketing can also make you money on autopilot. It is not as easy as it sounds. First, you have to provide value to your subscribers and need an email list. There are many email providers like mailer lite which can be used to collect email addresses.
- You can sell digital products
- Make money through affiliate marketing
This type of income will not be totally passive but can be made passive with little effort.
11. Start an Etsy Store
Starting an Etsy store is easy. If you design printables, graphics or crafts, you can sell them on Etsy. Printables can make you a good income which is totally passive. You will need little management and have to create once and then can reap the rewards.
12. Install apps on your phone
If you have created a good wealth, you can start investing online. There are many Robo-Advisors which can help you invest money online.
I love acorns because it helps you to start investing money. They pay you $5 when you invest even $1. How convenient. And this is the best thing a beginner investor can do. Don’t think too much, just start this one today. Believe me, you will not regret it anytime. You can check yourself and sign up with Acorns (Raiz)
Betterment is there for years and it has helped many people who did not have much experience in investing. Their fees are low at 0.25 to 0.40%. The best part is, there is no minimum to invest.
Wealthfront makes it fairly easy for new investors because it is free for an initial $ 5000. Great for people with low amounts to invest and investing your first $5000 for free is the best part.
13. Buy an already existing online business
To start a business from scratch is difficult and time-consuming. If you have an idea to start your own business, go for it. But if you want to save time and hard work which goes in starting something from scratch, buy an already existing business.
As I am in Australia, this site works well in Australia to buy or sell a business.
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