What are Passive Income Opportunities?
Passive income means earning money with either minimal effort or involvement. While few income sources are entirely hands-off, some sources need less active effort than others.
This post is about passive income opportunities.
Let’s dive into the top 5 Passive Income Opportunities.
1. Dividend Stocks
Dividend stocks are a great way to earn passive income. When investing in the stock market, there are some stocks that issue periodic dividends. The frequency of the dividends depends on the company. Some can be quarterly, semi-annually, or annually. With dividend paying stocks, this is a great way to earn dividend payments without needing to actively manage your investments.
2. Online Courses
Online courses are popular options for people who have a strong online presence and expertise. They’re also great avenues for passive income. The effort is usually set at the beginning, then once the course is completed, similar to a book, people can start purchasing it. That, in turn, becomes your income.
3. YouTube
Speaking of strong online presence, YouTube is another great option. Similarly, the effort is put into creating and editing the video, then once it’s posted and catches viewers’ attention, you’re able to earn some income from the views through advertising.
4. Blogging
Creating a blog revolving a topic that you’re passionate about, there are a lot of different avenues where you can create sources of income. This can be through advertising through viewership, commission through affiliate marketing, income through courses, ebooks, or printables, and sponsorships!
5. Interest
There are a lot of high yield savings accounts that offer high interest rates. Putting your money into high yield savings accounts are a great way to earn some extra cash while doing nothing! Well, you’ll have to make the initial deposit. But once that’s set, you can forget it! Then, every month, you’ll receive some extra cash for parking some of your savings there! Plus, the best part is that savings accounts are usually very liquid, easily accessible, and considered low risk.
To reiterate, the top 5 Passive Income Opportunities are:
- Dividend Stocks
- Online Courses
- YouTube
- Blogging
- Interest
There you have it! Interested in learning more passive income using dividend stocks? Check this post out for stocks vs bonds.
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