Time is valuable. Every person gets 24 hours a day regardless of their occupation, religion, age, where they live or color of their skin. It is the greatest equalizer because every person gets equal time. It can never be re-spent or recreated. And that’s exactly explains why passive income is more important – as time is more valuable compared to money.
Passive income most probably the central and highly important ways through which rich get richer. It is the way you separate your capability to earn extra from the time that you totally have in your day. “Making money while sleeping”, these are the truest words ever said. Through passive income you make money even when you are sleeping. The money simply and automatically keeps coming.
However, creating a flow of passive income is too far from automatic. It is not easy in any way. It requires huge efforts and part of your time and also the returns in beginning are very low. It includes huge amount of frustration and enormous area for learning. Yet, it is the most profitable and worthy investments of your valuable time that you can probably employ in.
Though passive income cannot be the solution of all your problems but it is the way to achieve success and most possibly the base for happiness and wealth. To have passive income there are various ways for you to earn it, some of them are –
Rented Real Estate
Real estate has been a primary investment for generations and for a very good reason demand is always going to be there. Purchasing a rental property will help you in paying the mortgage through the amount you get from your tenants, expectantly leaving plenty left over to earn a sensible income. And if you hold the property for enough time you will probably earn the profit itself – you just have to do your part by conducting research and understanding the real cost of holding property.
If you have a place for blog, or many other way of attracting traffic towards your website, you can go with advertising to produce a solid flow of income. As far as you are getting at least few thousands visitors in a month, displaying a single ad can get you in return from a few hundreds to few thousand dollars as additional revenue.
Dividend Paying Stocks
Your best option for earning passive income is by investing in the stocks of companies which has lengthy history of paying dividends to stockholders. Dividends are mainly company’s way of sharing profit with the stockholders, generally a fixed amount for every share. These type of companies are generally in great financial health which makes them the right choice for long term investment, but the continuous dividends are important. They will provide the main source of revenue. So choose company cautiously and remember to diversify your investment. You can also appoint someone to do this work for you.
If programming is not your thing, this option may be difficult for you, but it is a good way to earn extra money. Creating a helpful application can help you in earning extra dollars. Obviously, if you have no knowledge of coding then you can learn it though various programs available that teaches you without charging any money.
You can also opt for the content marketing and issue e-books on the topics you have knowledge and believe yourself as an expert. In this, you don’t have to follow any rules but you will be required to do some research on your competition and targeted market. Charging small amount for every download can be very profitable for you.