What if I told you that you can make money while you sleep party or do
literally anything else but work would you want to know how well in this video
I will share with you seven passive income ideas and the level of effort
each will take to get started they'll make you money whether you're working or
sipping margaritas on the beach and if you're new to the channel then hit the
subscribe button below for more life-changing content
idea number one leverage high interest bank accounts if you have money laying
around in the bank and have never thought twice about it
they're more likely than not you are not maximizing the return on these funds
while using bank accounts to make passive income won't make you rich
overnight moving your money into higher yielding accounts can help your money
grow at a faster rate than you'd normally been experiencing you see as of
2019 the average savings account interest rate was a measly point zero
nine percent but what a lot of people don't know is that there are a number of
better options available for instance if you're looking for a low risk high
interest earning cash account betterment every day currently offers a two point
four four percent APY which is more than 27 times the average and this account is
fee free meaning that the difference in interest you earn is yours to keep
now you're probably thinking how much of a difference will this really make on a
yearly basis well if you add twenty thousand dollars in a standard savings
account earning just 0.09 percent annually you would earn just 18 dollars
a year however in this high interest bank account earning at two point four
four percent annually would leave you with four hundred and eighty-eight
dollars or four hundred and seventy dollars more than you would have had if
you hadn't to move your money now again I know this will make you rich but with
an effort level of one out of five this say quick win you can use to make money
possibly idea number two dividend investing a dividend is a distribution
of a company's profits and when you own a stock in a company directly or through
a fund you may receive dividends now dividends are not always distributed to
shareholders whether or not a dividend is declared is up to the company's board
of directors and these dividends can be paid to shareholders in the form of cash
payments shares of stock or other property
essentially it's a reward paid to shareholders for having invested their
money into the business now I will admit that dividend investing does take some
upfront capital but it is one of the most preferred methods of passive income
creation due to how hands-off it is which is why I think it has a effort
level of one out of five effectively all you have to do is set up an investing
account and purchase stock in a fund or a company that produces regular
dividends and this can be quite lucrative take the Washington Prime
group as an example this company returns an annual dividend of $1 share which is
almost 30 percent of its total share price at 350 a share with $10,000
invested you can buy more than 2,800 shares which would equate to almost
$3,000 worth of passive income a year idea number three start a blog if you're
a good writer or even a mediocre one starting a blog can be an excellent way
to make positive income while starting up a blog does take a good amount of
upfront work once you have your content online and it starts to gain traction
within the Google search engine you'll be making money whether you continue to
publish content or not so you may be wondering how does a blog bank money so
let me explain as your blog gets views ie traffic readers will interact with
your site this can be by following your affiliate links and buying products you
recommend purchasing courses you've built or just helping you make money
using Google Adsense now starting a blog does take a good amount of upfront work
which is why I think it has a level of effort of 3 out of 5 this is because in
order to gain traction on your site you will need to research write and market
your content but like I said after the content is live you will make you money
month after month and one of the big upsides of starting a blog is the low
startup costs all you really need is the domain name and web hosting will run you
about $15 and a hundred dollars every year respectively idea number four sell
an online course in the 21st century information is the most valuable asset
and one of the best ways to take advantage of the information age is
through the sale of digital products like online courses now you may be
thinking I have no idea what I could create a course about and don't worry
that's normal the good news is there is a market for
just about any information product online from courses on web development
to productivity and even journaling chances are you are skilled in multiple
areas of which at least one of them can be used to create a value pack course
given the making of course takes a good amount of time researching and producing
the final product I put this passive income method at a 3 out of 5 on the
level of effort scale what makes things easier though is that there exists
multiple platforms where you can host your course and avoid having to exert
extreme marketing efforts sites like you demand Skillshare allow you to host your
course and since these platforms already received thousands of visitors a month
it is only time until you start to see course sales rise idea number five
investing in Reed's arethe is a real estate investment trust and essentially
it's a company that owns it produces income producing real estate you can
think of a REIT as a mutual fund for real estate investing and like a fund
the way you own it is through buying stocks you see when you buy a stock in a
read you're in a share of the profit produced by that real estate investment
it's a way to invest in real estate without the hassle of being a property
owner and every time profits are shared you will receive your portion of the
cost distributed and the best part was that there was no property maintenance
no dealing with tenants and know chasing rent payments required is for this
reason that I give this passive income idea a 100 a 5 per level of effort now
if this sounds like something you'd want to look into more look no further than
fundrise fund rise allows individuals to invest in commercial real estate online
through an e read and the best part is that you don't need thousands of dollars
like in traditional real estate investing certain portfolios begin at as
low as $500 making the barrier to entry low enough for just about anyone to
start making passive income idea number 6 created an online store with the
explosion of e-commerce comes the opportunity to create a passive income
stream using an online store in particular drop shipping has become very
popular and if you're unfamiliar with it here's how it works you create an online
store that offers products from certain manufacturers a person visits your site
in order to product and then your systems
sends the order to the specific manufacturer the manufacturer then
completes the order by shipping it directly to the customer one of the cool
things about this type of business is that you do not need to order inventory
the customer pays for the product you collect the profits and the manufacturer
stores and ships a product to the customer it's as simple as that and it's
for this reason that I give it a two out of five level of effort because it does
take some time to set up your store and research winning products idea number
seven start a youtube channel every day regular people like you and me are
making money on YouTube well you may use YouTube to pass the time or learn
something new for many people YouTube is how they earn their living and much of
this income comes in a passive form you see every time someone watches one of
your videos ads can appear and you can make money from those odds alternatively
your viewers can also buy your courses or affiliate products making you money
without any effort on your end after the video is released now the reality is
that running a YouTube channel is anything but passive in nature as
building an audience takes consistent work but once a video is released it
acts as a digital asset accruing you add revenue and hopefully sales over time
but let's say you just relied upon ad revenue to generate passive income what
could your earning stream look like take a look at the channel far from average
this channel gets over 3 million views every month earning the owner over 10
thousand dollars in ad revenue alone now of course this is a large channel and
getting to this point will take time but even with a smaller channel making a few
hundred dollars a month possibly is quite doable and there you have it
seven passive income ideas you can use to start making money while you sleep
thanks for watching if you want to go from the life you have to the life you
deserve then hit the subscribe button now
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