Passive-Income-Guide.com: Generating Steady Passive Income Streams
What is Passive-Income-Guide.com?
As the name suggests, Passive-Income-Guide.com is about exploring opportunities that help generate steady passive income streams. The site covers all major sources of generating passive income, including the internet, real estate and financial investment. The main goal is to make it easier for beginners to understand how things work and provide them with the important information they need to get started.
The primary objective of the site is not to discuss every single detail about how to generate new income streams. Instead, it focuses more on helping readers determine which way to go and important things to remember along the journey.
Digital and Internet
There are so many ways one can make a passive income using a computer and the internet. The Digital and Internet section discusses ways to generate money online, which is also an active source of income for millions of people around the world.
Real Estate and Physical Assets
Living in an apartment too large for you? Or own expensive equipment and tools you don’t use all the time? How about renting the space and such tools to generate a steady stream of passive income without doing much? That’s what the Real Estate and Other Physical Assets section discusses (in addition to investment opportunities) and provides insightful information about how to get the most out of what you already have.
This section includes ways to invest your savings to make more money without having to become a real broker. Smart financial decisions and investments greatly increase the probability of success in the future and that’s what the Financial Investment section is all about.
Other and Miscellaneous
There are a ton of other things you can do to generate a steady passive income without having to work long hours such as licensing and royalties. While these methods might not work best for everyone, they are particularly suitable for those who have the right skills and experience.
What’s Passive Income?
While passive income is generally defined as an income stream that does not require much effort or time, that’s not entirely true. There is nothing (worth having) that comes to you without any hard work. You need to put some effort (at least in the beginning) to kick-start things after which you can hope to get paid consistently without repeating everything.
Many people who start something as a source of earning a passive income eventually end up in doing that full-time. That’s mainly because their 9-5 job burns them out without offering much in return. Many have multiple passive income streams, but in the end, it all comes down to individual skill level and motivation to work hard. That’s why it’s important to choose the right passive income sources instead of wasting time (and money) on stuff you are not familiar with. One should choose opportunities that fit their passion and match their skill set and experience.
Passive Income Generation Ideas
Passive income is a legit way of generating residual income, which might eventually become your full-time job in the future. This makes it very important to be careful with the paths you choose as they can define your future. While there is no shortage of ideas that can help generate passive income, let’s have a look at some of the most popular and proven ideas.
· Writing Ebooks (only if you have something valuable to offer to the reader, a lot of work upfront)
· Investing in crowdfunded Real-Estate (you don’t have to deal yourself with tenants and property management)
· Investing in Lending (or peer-to-peer lending) clubs
· High-yield saving accounts (low-interest rate and boring, but safe)
· Robo-advisors (Trusting algorithms to make smart decisions for you, saves a lot in fees and helps keep portfolio balanced)
· Making money for doing things you are already doing (internet research, app and game testing, ridesharing)
· Cash-back rewards (not exactly a steady source of passive income, but you can earn something from 1 to 5 percent with very little effort)
· Selling photos on platforms such as Shutterstock
· Purchasing from China (or somewhere else where you can find stuff at a better price) and selling on eBay
· Selling your own skills and experience as instructional videos and guides on YouTube or as DVDs