Passive Income

5 Ways to Earn Passive Income

1. The Stock Market

You can earn passive income in the stock market with dividends and interest. Stock prices may fluctuate but as long as the company does not discontinue it’s dividend you can collect payments quarterly, yearly or on a monthly basis.  Start investing for free with Robinhood.  There are many other online brokerages such as Vanguard, Fidelity, Charles Schwab and TD Ameritrade, open an account today.

2.  Owning Real Estate

Real Estate can appreciate year to year just by owning the property over time.  Of course you will need to maintain the property rather you manage the property yourself or hire out a property management company because the property will need to be maintained.  In the beginning, the income produced from renting out the property will go to paying off the mortgage and expenses unless you paid for the property in full. Once the property is paid off you get the benefit of appreciation as well as the rental income.  

If property management is too much work for you, then take a look at a REIT. REIT stands for Real Estate Investment Trust.  REITS are purchased just like a stock; normally they pay a higher dividend than stocks.  REITS pay out about 90% of their returns to shareholders in exchange for favorable tax treatment.  No down payment needed, no property management to worry about. 

3. Write A Book

There is a book in everyone.  If you have skills or experience that can help someone, share it.  If you love to write consider writing as a side hustle, become a freelance writer.  Many people including authors earn a full time living writing books and you can too.  Once your book is completed it can sell for years creating a passive income stream for you.  Sell online on Amazon KDP, Google Play Books, Apple iBooks Author or Barnes and Noble.

4.  Start a Blog

Share information online with a blog.  Maybe you paid off a student loan or high interest credit card debt.  Tell the world how you did it.  If you enjoy buying the latest technology, write a review.  Many people make money by placing ads on their website with Google AdSense.  Add affiliate marketing to your website by sponsoring products that you already use and increase your earnings.

5.  Online Surveys

Get paid to take surveys online while you wait in line at the grocery store, doctors office or on your lunch break.  Swagbucks, InboxDollars, Survey Junkie or MyPoints are just a few of the online companies that pay you for taking surveys.  If you have an Internet connection, sign up for free and start making money.

With a little hard work in the beginning, you’ll soon start earning extra income.  The most important thing is to just get started.