We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
I make money in my sleep. Literally. And you can too.
Here’s how.
It’s called passive income, and I found it purely by accident.
When I first graduated with my master’s degree and entered into the workforce as a biotechnology engineer, I was getting paid well but was feeling very uninspired. I was hungry for a career change and overwhelmed with where to start.
I’ve always been passionate about food and cooking. I toyed with the idea of quitting my job to go to culinary school. But after some self-reflection, I realized that the last thing I wanted was to go from one grueling career to another. So I started a food blog and figured it could become a creative outlet for me. Ironically enough, I got laid off from my job six months later.
This was when I dedicated my efforts to a new passion project – learning how to make money online. I was drawn to the idea of having the freedom to live and work anywhere and not reliant on staying in one place to earn a paycheck.
What I have now are passive income streams. And with multiple passive income streams, I finally have financial stability and protection from layoffs.
Sound too good to be true? My food blog Delish D’Lites earns over $7,000 in passive income each month.
Here are seven ways I’ve successfully earned passive income.
- Blogging
- Digital Courses
- E-Books
- Digital Downloads
- Affiliate Marketing
- Real Estate Investing
- Investing in the Stock Market
What Is Passive Income?
Passive income is earned through investments or work already completed and continues to make money without any additional effort.
By contrast, active income is money earned in exchange for performing a service. Passive income, by its definition, doesn’t require active work after a certain point.
Most passive income sources will require time, energy, and effort up-front. But if done right, you will reach a point where your passive income streams earn income on their own, without little to no effort on your part.
My 7 Best Passive Income Ideas for 2021
Many types of passive income can be made online, so if you want to have income that is location independent, passive income may be for you. All you typically need to earn is a computer and an internet connection.
1. Blogging
<…….
Source: https://time.com/nextadvisor/investing/passive-income-ideas/
