Ideas For Passive Income 2020
Ideas For Passive Income 2020
What is Passive Income?
Passive income is a type of income that you get from activities that require minimal effort and require very little of your time. Passive income is money that comes in from sources that don’t require you to actively work on them. Generally, passive income is money that you make without having to do anything. It’s the opposite of active income, which is money you make actively. This can include things like a salary or wages from a job, self-employment income, or income from investments like stocks and bonds.
Ideas For Passive Income 2020
If you’re looking for ways to make passive income in 2020, here are some of the best ideas to consider. Each of these has the potential to make you a steady stream of passive income if you’re willing to invest the time and effort in setting them up. Remember, the key to passive income is to set something up once and let it run on autopilot.
Rental Properties
Investing in rental properties is one of the oldest and most popular forms of passive income. With rental properties, you purchase a property and rent it out to tenants. The rental income you collect can be used to pay the mortgage, and the rest of the income is yours to keep. This can be a great way to make passive income, but it does require some upfront investment. You’ll need to purchase the property, cover the costs of maintaining the property, and handle any legal issues that arise.
Affiliate Marketing
Affiliate marketing is a type of passive income where you earn a commission for referring customers to other businesses. It’s a great way to make money without having to do any of the work yourself. All you have to do is refer customers to the business and you’ll get a cut of the sale. There are plenty of affiliate programs out there, so it’s easy to find one that fits your needs. Just make sure to do your research and choose a reputable program.
Online Courses
Creating and selling online courses is a great way to make passive income. You can create a course on any topic you’re knowledgeable about and sell it to people who are looking to learn more. Once you create the course, you can set it up to sell automatically on your website. This way, you don’t have to do any of the work yourself. All you have to do is create the course and let it run on autopilot.
Dropshipping
Dropshipping is a great way to make passive income. With dropshipping, you set up an online store and partner with a dropshipper. The dropshipper will ship the products directly to your customers and you get a cut of the profits. This can be a great way to make money without having to do any of the actual work. All you have to do is set up the store and start selling.
Investing
Investing is one of the oldest and most popular forms of passive income. You can invest in stocks, bonds, mutual funds, and real estate. Investing can be a great way to make passive income, but it does come with some risk. You should always do your research before investing and make sure you understand the risks involved.
Write an eBook
Writing an eBook is a great way to make passive income. You can write an eBook on any topic you’re knowledgeable about and sell it to people who are looking to learn more. Once you write the book, you can set it up to sell automatically on your website. This way, you don’t have to do any of the work yourself. All you have to do is write the book and let it run on autopilot.
