Ways to Earn Passive Income

Do you want to create a lifelong income stream that keeps money flowing into your bank account without your active involvement?

Many methods that people consider residual income generators lack the ‘passive’ bit, as they still require your presence to trigger one or two buttons to keep the money flowing.

Once established, the perfect passive income-generating investments and businesses require no upkeep or intervention.

The following are legitimate but not well-known methods of generating residual income.

Peer-to-peer lending eliminates the formal and complex aspects of traditional banking loans.

P2P lending platforms directly connect lenders and borrowers, with all transactions completed easily online.

Lenders invest initial capital into businesses and earn returns for every loan they make.

These investment solutions generate higher returns than government bonds, traditional savings accounts, and certificates of deposit (CDs).

With the right peer-to-peer lending platforms, you can earn returns of over 10%.

When investing with a P2P platform, you have access to all the borrower’s information, including their credit score and the interest rate you will receive.

As a lender, you decide who to lend your money to, how much to charge for interest rates, and the penalties for overdue loans.

You can choose the loan amount, repayment period, and interest rates. The best part is that you earn a residual income for as long as your investment remains active.

Creating and selling digital art is one of the fastest-growing trends for generating residual income.

You can write and sell eBooks on trending topics such as weight loss, money-saving tips, and wealth-creation techniques.

More importantly, you can self-publish or publish the books on third-party marketplaces like Google Play Books and Amazon Kindle Direct Publishing.

If you have a creative talent, you can create and sell digital art and designs such as graphics, images, templates, and logos on websites like DesignCuts, Etsy, and Creative Market.

Teachers and professionals in niche-specific fields can create and sell courses on trusted platforms such as Coursera, Udemy, and Teachable.

Tech enthusiasts with web development skills can earn residual income by creating and selling apps using in-app purchases and advertising.

Figure this: You install an app like Google Chrome or WhatsApp on your computer or mobile device.

The app runs in the background like other apps, but instead of using your Wi-Fi or mobile data for browsing or messaging, it uses the unused bandwidth in your network to generate passive income.

That’s what sharing internet for money apps do, and they rarely slow down your device or affect the normal operations of other apps.

Your earnings from sharing internet for money depend on your location, how long you keep your device running, and the number of devices you use to run the app.

By running some internet-sharing apps on a single IP address for 24 hours a day, seven days a week, you could earn up to $9 per month.

Affiliate marketing is one of the most encompassing ways to generate residual income by doing the simple things you love.

After identifying the best affiliate program offering high commissions and reasonable terms, remember to select a niche.

Decide where you will share the affiliate link, to whom, and for what reasons.

Some of the most influential and highly recommended ways to optimize the success of your affiliate marketing business are:

• Sharing affiliate links on your product review website.
• Affiliate marketing through blogging, email marketing, social media, and YouTube videos.
• Using paid ads to improve the success of your affiliate marketing.
• Sharing the affiliate link with your podcast fans and prospects.

In today’s online business world, drop-shipping is one of the most lucrative sectors. More retailers today use drop-shipping to complete order fulfillment.

Recent stats indicate that e-commerce stores using drop-shipping have higher chances of increasing profitability by up to 50%.

Source – https://www.founderjar.com/dropshipping-statistics/

There is a lot to sell online and hundreds of great sources to get these goods.

You also have millions of customers to target worldwide, provided you use proper marketing strategies.

With drop shipping, you don’t have to own an order fulfillment center or even a store. It’s as simple as creating an online store and installing the proper drop-shipping app.