In this article
- Everyone talks about it, but what is Passive Income?
- Ideas for achieving Passive Income
- 1. Property income
- 2. Reward points, cashback, rewards
- 3. Internet
- 4. Copyright
- 5. Business based on passive income
Everyone talks about it, but what is Passive Income?
Most of us earn actively, that is, they get up in the morning, maybe early, go to work for at least eight hours, and get paid for it.
Others, on the other hand, combine or replace this form of income with passive remuneration.
Passive income is that income generated effortlessly.
It’s a nice concept as marketing is something difficult to achieve, but it’s not impossible.
There are several ways to create money with a small initial effort which then turns into the creation of a continuous flow of money.
Ideas for achieving Passive Income
Property income obviously, the easiest passive income to think about is the one that derives from investments and therefore from assets.
The interest, share dividends, but also rents, arising from real property, are produced income without much effort, but that can only be achieved when you have a certain amount of wealth.
These incomes can even be multiplied with the compound interest mechanism, which, thanks to the reinvestment of the fruits of what is earned, allows an exponential growth of what is owned.
With a certain patrimony it is also possible to invest in the projects of others, which, if well selected, can give great satisfaction. You can become a shareholder in other people’s projects where the active role is to constantly monitor and control the use of your money.
- Reward points, cashback, rewards
The loyalty programs of supermarkets, airlines, banks are an easy way to accumulate money and rewards without much effort.
In some cases, for example for airline reward programs (frequent flyers) or credit cards with cashback, the rewards are really attractive. Some specialize in these programs and the internet is full of forums and details on how to improve the accumulation of prizes and money.
The cashback is specifically the money that is returned when purchasing products or services.
This possibility is also offered offline but it is particularly easy on the Internet where my favorite service is Berube. Here you do not do anything, just sign up and remember every time you spend to do it through the cashback services. Even you earn on the registration of your friends.
I disagree very much with those who say that you can make money with a blog or with a site or with a video without much effort.
It is not even so true that an initial effort is enough to then earn continuously.
The Internet is constantly updated and if you do not update your blog or page, contacts decrease and profits drop. Maybe you can keep your commitment to a minimum and automate your business, but this is not easy, even if it is the secret to getting rich.
Some pages or videos are lasting, but let’s never remember that everything can end overnight and that the success of a blog and a site often depends on the continuity with which you work on the web and your image.
If you have unpublished material, if you are an expert in a certain subject and have notes or a book already written and never published, if you are a photographer and have a collection of photos or a musician you can today distribute your intellectual works with the possibility of earning something repetitively and constantly.
- Business based on passive income
Commercial reports fall into this area. Some monetize their acquaintances or friendships by selling their leads and getting a fixed percentage in return.
It is enough to have the right friendships at the right time and the know-how to join them and you will make a lot of money without doing almost anything.
Then there are some examples of fairly passive shops. For example, the laundromat, rather than vending machines or many internet sites, are automatic businesses that involve an initial investment in machinery or stock of materials and guarantee cash flows.
In conclusion, I think we should all seek alternative and passive sources of income.
Just start and you will be able to achieve something to add to our active income.
And you, thanks to what form of passive income are you able to generate money?