Easy Passive Income Ideas 2020
Easy Passive Income Ideas 2020
What is Passive Income?
Passive income is a type of income that requires little to no effort to maintain. It is often referred to as “residual income” and can come in the form of royalties, investments, or dividends. Passive income can provide a steady stream of income with minimal effort, depending on how much capital is invested. The goal of passive income is to provide a steady flow of income without having to put in a lot of initial effort.
7 Easy Passive Income Ideas 2020
1. Invest in the Stock Market
Investing in the stock market is one of the most popular passive income ideas. Investing in stocks can provide a steady stream of income, with the potential for large returns. It’s important to remember that stock market investing involves a certain degree of risk, so it’s important to understand the market and do your research before investing. If you’re new to investing, it may be wise to start small and then gradually increase your investment as your confidence grows.
2. Invest in Real Estate
Investing in real estate is another popular passive income idea. There are a variety of ways to invest in real estate, such as purchasing rental properties or investing in a real estate investment trust (REIT). Investing in rental properties can provide a steady stream of income, but it’s important to remember that it can be a risky venture. Investing in a REIT can be less risky, but it requires a significant upfront investment.
3. Invest in Peer-to-Peer Lending
Peer-to-peer lending is another popular passive income idea. With this type of investment, you lend money to individuals or businesses, and they pay back the loan with interest. The interest rate is usually higher than what you’d get from a traditional bank, but you also take on more risk. It’s important to do your research and understand the risks before investing.
4. Create an Online Course
Creating an online course is a great way to generate passive income. You can create a course on any topic you’re passionate about, and then sell it to people who are interested in learning. You can use platforms like Udemy or Teachable to create and host your course, and you can use marketing tools to promote it. The great thing about creating an online course is that once it’s created, it requires little to no effort to maintain.
5. Start a Blog
Starting a blog is a great way to generate passive income. Once you have a blog up and running, you can start generating income from it by selling advertising space, offering products or services, or promoting affiliate products. It takes time to build up a blog’s readership, but once you do, you can start to generate a steady stream of income.
6. Create an App
Creating an app is another great way to generate passive income. You can create an app on any topic you’re passionate about and then sell it in the app store. You can also monetize your app by offering in-app purchases or by selling advertising space. Creating an app takes some time and effort, but once it’s created, it can provide you with a steady stream of income.
7. Invest in Dividend Paying Stocks
Investing in dividend paying stocks is another great way to generate passive income. Dividend stocks are stocks that pay out a portion of the company’s profits to shareholders in the form of dividends. Dividend stocks can provide a steady stream of income, with the potential for large returns. It’s important to remember that investing in dividend stocks carries a certain degree of risk, so it’s important to understand the market and do your research before investing.
