Introduction: Passive income means any person earns money with inactive. Generally, Peoples earns money with activities such as they do hard work and business or jobs. Many times they Earn money for fixed time duration for fixed works. But For passive income peoples are do not works, they earn money in sleep.
General Income: Historically peoples generally do jobs, businesses, and various work with hardly. Peoples earn money against works. When peoples do work the earns money. But when they do not work, they get no money. It is a general system. It is called general Income. Peoples earn money and spent for own and his family. In most of the Third World countries, most of the peoples are Poor minded. Poor-minded people are the lazy types. This kind of peoples is all-time depend on only one income source. They are not thinking of more income sources. This kind of peoples is not read books, newspaper, magazine, etc. Poor-minded people are thinking lost of money. If These minded peoples are read books magazine etc. This result this kind of peoples are earning knowledge and develop for own. By this, they earn more knowledge for make various income source. But Poor minded people are not trying to make more income source. If for any reason or illness any person lost their job or works then they suffer a hard time.
Passive Income: Famous expert Investor warren buffet says Not depend only on one income source. Intelligent peoples are not dependent on one income source in the modern world. Rich-minded people are intelligent. They all time thinking about a various income source. For this rich minded peoples do hard work, they go to a foreign country, discussing with many peoples, read more book, magazine. By this rich-minded people get too many investment sectors and by investment, rich-minded peoples earn a lot of money. This money again does reinvestment. For this rich-minded peoples enjoy everything in the world. This kind of peoples is all time to keep try happy their family. The last words Passive income means is active income, salience income, sleeping income. Peoples do work in 8 hours. In this 8 hours work income is general income but after 8 hours is passive income. But rich-minded peoples are not following these rules. They are working of unlimited time. Various types of passive income, such as house rent, vehicle rent, share market investment, mutual fund, or bond investment. Goods purchase. Online working, writing blog or books, real estate investment, microfinance. Most of the rich peoples in America on the richest by passive income.
General income & Passive income different: General income means historical income. Peoples are doing work and earn money for their lifestyle. It is general income. Peoples work with actively earning money, it is general income. On the other hand, people earn money inactively. it is Passive income. Poor-minded peoples are like general income but rich-minded people are like passive income. General income means fixed time and earns a fixed amount. Passive income means unlimited time and earns an unlimited amount. General income is one income source but passive income is various income sources.
Passive Income Ideas: Various types of passive income have in the present world. Every dreamer peoples can do passive income. For this, their first work is to do a startup. In the United States, the Uk, French, Germany, South Korea, Japan, Canada, Australia most of the rich people are connective more passive income.
Various types of passive income under discusses it.
- Stocks Dividend
- Rental Properties
- High-interest saving account
- CD Ladders
- Invest Share market
- Real Estate investment
- Reduce Debt
- Invest in a business
- Refinance your Mortgage
- Udemy make a Course
- Stock photos sell
- Music licensing
- Online ebook selling
- App creates
- Reading books
- T-Shirts design
- Affiliate marketing
- Etsy sells digitals files.
- Car wash
- Rented car
- Vending machines
- Rented Storage
- Local startup
- Cashback sites
- Cashback rewards cards
- Save electric bill
- Online work
- Stocklot business
1.) Stocks Dividend: Anybody can invest in stock in the long term. Goods stock are given to large dividend in every year. Then Investors with this dividend money can again reinvest for income. It is a true and easy way to earn passive income. It’s is a beautiful platform.
2.) Lending: Traditional loans do not qualify many people. For this Peoples invest the money like a peer to peer lending. Landing club is most of the American peoples are like for peer to peer lending platform. On average Landing club, investors are earning 4-6% returns. Peoples lend their money simply and on that loan get interested and principal. It is one kind of passive income.
3.) Rental properties: rental properties are a popular way of passive income. Peoples get monthly income for rental properties. By online peoples can invest in various types of rental properties and fill up their goals. Peoples of American can small shareholders in large commercial or residential properties such as homes. Single Family homes peoples can invest in. Such as Roofstock. By this company, peoples get single Family homes on cash flow positive rentals. Other side peoples of American can invest in large development industries. It is commercial properties or multi-family. Such as RealtyMogul, Peoples buy a little amount of money(1000$) for private placements in RealtyMogul. Peoples no need any works but to get income just like ownership of a real state. Other side peoples can invest in farmland,
4.) High-interest saving account: High-interest saving account is a popular way for passive income. Best Bank Account Bonus Offers, Best High saving Account, Best Money Market Account. These Accounts are given daily base interest rates. CIT Bank saving account give 0.55% APY. It is FDIC insurance and no fees.
5.) Annuities: Annuities one kind of income system. Peoples can use this income system as like as passive income. Annuities made relations between peoples and an insurance company. By this peoples get regulars income either immediately or in the future. Fixed, variable, and indexed three types of Annuity income. Its payout or risk is different. Series of payments or lump sum systems peoples can buy any.
6.) CD Ladders: CD Ladders is one kind of system while any investors same amount of money divides invest by different maturity date in CDs (certificates of deposits). It invests in less risk and less profit. If peoples are investing long term they will get more profit. Here investors can invest in three months, six months, one year, or five years periods. Different time periods peoples are various interest rates offer. It is a big advantage for investors in American. It is good for passive income. CDs (certificates of deposits) can buy any investor from a bank.
7.) Invest Share market: Anybody can earn a share market if he understands. Most of the rich Peoples in American are earn a lot of money from the share market. Rich peoples are the richest by share market. It is the main part of passive income.
8.) Real Estate Investment: Real Estate is the best way to earn money in passive income. Peoples can easy a lot of money depending on their investment amount. Peoples buy real estate properties and after a time period, they sell this at a reasonable rate. In America most popular Real Estate Investment Company is Fundrise. Peoples can start an investing $500 amount. Here have many options for investment. Its return of investment is 8.7-12.6%9.) Reduce Debt: Peoples have debt and for this debt peoples pay interest every month. If peoples pay the debt or reduce debt then peoples debt interest money is saved. This money uses another income source.
10.) Invest in a business: Generally, peoples invest in a business. Business is high risk and high return. But for passive income peoples can be made silent partners and can small amounts invest in various companies by loan them money in small bonds. In this way, peoples reduce their risk. 5% annually give profit if peoples of invest in Worthy bond. This bond fund invests in small businesses. Peoples of America are starting a little amount of $10.
11.) Refinance your Mortgage: This passive income sounds strange. It is a good way to earn a lot of money. Peoples their mortgage property again finance and earn a lot of income and save huge dollars by using their loans. Now interest rate in banks is low and peoples of America use this formula can save 0.5% or more and back more dollars into their pocket.
12.) Udemy makes a Course: Udemy is one kind of online education platform that various subject of video course peoples is a producer. Peoples can sell to users of their create owns video course. This is a passive income. Peoples who are good knowledge of any subject this kind of peoples are can create any course.
13.) Stock photos sell: Peoples make websites, blogs, books, and magazines. Here need more photos and bought from various stock photo website. Anybody who loves photography and this stock photo site. These photos anybody purchases then every time this photographer get the commission. DepositPhotos is a big market place and anybody uploads their photo to earn money.
14.)Music licensing: It is the same as stock photos. YouTube videos are licensed in music. When any singer or musician uploads their music on YouTube and any person hears this music then this singer earns royalty money.
15.) Online ebook selling: Ebook a big marketplace in Amazon. Writers writing books and upload them on the Amazon site. If anybody purchases these books and writers earn royalty money from Amazon’s side every time.
16.) App create : Peoples has smartphone or tablet and can create several apps by amazing idea. Peoples sell this app store and earn income.
17.) Blogging: Peoples are writing topics in blogs of any subject. This subject upload to a website. Peoples are reading this thing and Google gives money to this blogger.
18.) T-Shirts design: Peoples created design In T-Shirt when this design is popular and sell peoples earn royalties. Amazon Merch is a new service in T-shirt design.
19.) Affiliate Marketing: It is the most popular passive income. Peoples do marketing on the online site of the various items and if any people purchase any item of use this link. So peoples get a commission from this online site.
20.) Etsy sells digitals files: Etsy is the best platform for sell digitals files. Peoples do home décor for their nice home. By Etsy, peoples create and upload many files and anybody buy this file then create get the commission.
21. Network marketing: By Network marketing peoples sell various item and earn money.
22.) Car wash: It is easy to earn money from a car wash. Most of the American family has one car. One time in the Weekly peoples wash their cars and earn money.
23.) Rented car : Peoples are use side business with jobs or business in rented car . By rented car peoples earn a lot of money.
24.) Vacation rental home : peoples of American when they go to vacation, in this time, this people’s need room, flat etc. Airbnb is online market place in vacation rental rooms in Americans. By rental home peoples earn a lot of money.
25.) Vending machines ; It is small business idea . Many peoples of American earn money by vending machines.
26.) Rented storage : Peoples can to give storage rented and earn money.
27.) Local startup : If any people startup any new business in locally but he has no money and you can invest this startup and earn a lot money.
28.) Cashback sites: Many companies or online platforms give Cashback when any peoples buy their shop or company. As a result, peoples save money and invest another side. The most popular Cashback sites are WikiBuy, Swagbucks, Mypoints, Top Cashback, Mr. Rebates, ShopAt Home, etc
29.) Cashback rewards cards: By credit cards, peoples pay money and get cashback rewards from cards. By this peoples earn money when they use these cards. Such as Blue Cash Preferred® Card from American Express, Capital One® SavorOne® Cash Rewards Credit Card, Blue Cash Everyday® Card from American Express, American Express Cash Magnet® Card, etc.
30.) Save electric bill: Electric bill Save is one kind of passive income although it is a little bit. If Peoples use less electricity then the bill will below. For this peoples can partnerships with Arcadia. On people’s electric bill 30% save when using Arcadia power.
31.) Online work: For income increasing Peoples do online work. It is a passive income.
32.) Stock lot business : Peoples buy big quantity goods then store it and sell it with slowly. It is say Stock Lot business.
Advantage: Freedom of time: Time is our big Assets. Time is valuable than money. Yours have lost money, yours will try come back the money but time is gone, it has not come back anytime. Peoples are going to old age with time ways. At a young age, peoples earn more money but when they go to old age peoples suffer any disease. So people’s young time to old-time running for freedom. For this passive income is very important. When people’s income is more than cost and not thinking for spend time, in this time peoples enjoy economical freedom. For passive income, one-time peoples are not interested in active income. Peoples want to travel to many places and spend their time with freedom. It is your choice. What will go freedom of economics or boundary life? It is the energy of passive income.
Conclusion: At last we can say Passive income is very important for the present time. High costly life, it is difficult for people for maintains the living standards. So every American people need to earn money by passive income.