Added on 20 November 2020
Passive income refers to income derived from limited partnerships, rental properties, or other companies that are not actively involved. Like active income, passive income is usually taxable. Different methods of passive income are defined below.1. Make YouTube VideosThis is a rapidly growing company. You can create videos in any area you like, including tutorials, music, comedies, movie reviews, and opinions. Then put them on YouTube. Then you can attach Google AdSense to the video, which will overwrite the automatic ads on the video. After the viewer clicks on these ads, you will profit from AdSense.The key is to create compelling videos, promote these videos on social media sites, and create enough videos to make your income come from multiple sources. There is a lot of work to do to make a video, but once the video is completed, it may become a completely passive source of cash flow for a long time.2. Try Affiliate Marketing and Make SalesThis is a passive income technology, more suitable for people who own blogs and active websites. You can register to promote certain products or services on your website, for which you will receive a fixed fee or a certain percentage of the completed sales amount.This is not as difficult as you think, because there are thousands of companies in the world who want to sell their products in as many places as possible. You can find member offers by contacting the supplier directly or on a dedicated website (such as ClickBank). If the product or service is very interesting or highly related to your website, it is always best.3. Try out Index FundsIndex funds provide you with a completely passive way to invest in the stock market. For example, if you invest money in an index fund based on the S&P 500, you will invest in the general market without worrying about choosing investments, rebalancing your portfolio, or knowing when to buy or sell individual companies. The fund will handle all of this, which will base the fund’s portfolio on the composition of the underlying index.You can also freely choose funds based on the required index. For example, almost every market sector (including emerging markets, precious metals, banks) has established index funds.4. Put your Photographic Works on the InternetIf you like photography, you can turn it into a passive source of income. Photography websites (such as iStockphoto and Shutterstock) can provide you with a platform to sell photos. They may offer a certain percentage or fixed fee for each photo sold to website customers.In this way, a single photo can represent a source of cash flow because it can be sold again and again. You just need to create a photo portfolio, place it on one or more photo platforms, and then the activity will become completely passive. All the technology of photo sales is handled through the network platform.5. Write an E-BookThis may require a lot of work, but once an e-book is created and sold, it can provide you with a source of passive income for many years. You can sell the e-book on your own website or provide the book in an alliance with other websites that provide content related to your e-book.6. Invest in Real EstateThis may be more of a semi-passive income category because real estate investment is always at least a small part of active companies. Nevertheless, once you own an established and fully leased property, the main thing is to manage the property and keep it in good working order.In addition, there are some professional property managers who can manage the property for you, usually only 10% of the monthly rent. Professional managers can make investment more passive, but it will take up your cash flow. Another benefit of investing in a leased property is that the loan is paid off. If you get a loan to buy a property, your tenants will pay off part of the loan every month. Once the mortgage is paid off, your cash flow will increase dramatically, allowing your mediocre investment to quickly develop into a mature retirement plan.7. Sell your Own Products on the InternetThe possibilities here are endless-you can sell almost any product or service you like. It may be a product you create and can manufacture yourself, or it may be a digital product (such as DVD, software, or even instructional videos).You can set up a dedicated website for this product or service unless of course you already have a website or blog. In addition, you can also sell it to members by directly providing it to websites and blogs related to your products or services or through platforms such as ClickBank.8. Make an Online GuideIf writing articles or creating videos is not your business, and you want to make money online, try creating an online guide. SecurityGuardTrainingHQ.com and Pat Flynn's website is a good example. On the website, he has a map of the United States that allows someone to click on any state to view the security requirements of that state.By providing specific information in a format like a guide, you can monetize some of the methods that have been solved: ads through Google AdSense, affiliate links, and even memberships that can be sold from online guides. This is a great idea!9. Rent out Unused Space with AirbnbThe Airbnb concept has only been around for a few years, but it has proliferated globally. Airbnb allows people to travel the world and live in accommodations that are much cheaper than traditional hotels. They rent out some of their houses to travelers by staying with Airbnb members participating in the event. By participating in Airbnb, you can use your own residence to accommodate guests and earn extra money only by renting out the house.How much money you will make will depend on the size and condition of the house and your location. Naturally, if your house is in a high-cost city or near a popular holiday destination, your income will be much higher. This is a way to make money in the space at home, otherwise, it may be empty.