8 Working tricks to generate passive income?
The passive income everyone likes them. Can you imagine earning money while you are taking a walk in the park? The truth is that today there are many possibilities and tools to achieve your dream of earning money in the background, without working. We see it!
The keys to generating passive income
I’m sure that sounds familiar to youe “living on income“. Who would not like it? It is the dream of many and it does not have to be impossible, because really, everything can be achieved. But before continuing, let’s see what passive income consists of.
What is passive income?
As its name suggests, it is the income that enters passively, without you having to do anything actively. Namely, it is a type of income that does not require your attentionwhich can enter even if you are doing something else at that precise moment.
You can receive passive income doing nothing or practically nothing, at the same time you receive money in your bank account. In fact, it is considered passive when it is not necessary to dedicate more than 4 hours a week to it.
What is the most common example of recurring or passive income? A house for rent!
If you inherit a house and rent it, that property can help you receive an important part of your salary every month. If, for example, you earn 1,500 euros and you can rent the house for 600 euros, see how much it can change your life. And if you apply it to several dwellings, really you could live on rent.
The 8 most frequent ways to generate passive income
1-Invest in housing
In the event that you have extra liquidity, you can always use those savings to pay for a home (with or without a mortgage) and put it on the rental market. For this, it is important that it be a good opportunity and that it generates a good return of at least 5-6%. So you have to do calculations.
2-Start an online business
Not all online businesses require a large capital to start. For example, you can try to create an online store and sell products that are sent directly by distributors. A type of business that is booming and that can work. Of course, at the beginning may require a significant investment of time and money.
3-What if you try to be influencer?
If you love spending time on social media and people like you, you might be able to earn a lot of money as influencer. If you get a significant number of followers, the brands will contact you to make collaborations and make money with them. It may be passive income at first, but if it goes well it may end up being your main job. Wanting is power!
4- Create a blog or YouTube channel
If you are creative and looking to earn passive income, another way is through a blog or YouTube channel. In this way, you can try to make your passion your profession, while you earn money in the background with ads. Although it is true that to try to start the business you will need to invest your time and offer something original and authentic.
5- Write a book
Another of the classic examples to get passive income even today, goes through write a book. If it is something you like, you can try your luck, because once you write it, everything that happens from there will be passive income; Benefits.
6- Create a course
If you are very good or expert at somethingyou can take advantage of your knowledge to take an online courseand. Once you have it, from then on the income will be completely passive, because you will be able to obtain benefits every time a new student signs up, and without the need for you to do anything else.
7- Invest in index funds
The index funds they are one of the most popular mechanisms for long-term income. It is ideal if you want to obtain passive income, although beware, you could also suffer losses and you must be prepared to deal with it.
There are also dividend stocks. This product allows to obtain recurring revenue without the need to invest a lot of time; it is enough to look for the shares that distribute the most dividends among their shareholders.