Here we are going to talk about Best Passive Income Ideas in 2021 for beginners ( 8 easy ways). And for each of those, we are going to check, how hard it is to get started and how hard it is to make a hundred dollars a month by rating out of 5.
Best investment ideas for passive income; How to make money passive income;
There is no way to make money without doing anything. But when we say passive income, it means money that is not directly tied with our time. For example, If you wrote and publish a book, and if any book sells, you make money from royalties, those are passive incomes. We will check now 8 ideas.
1.Get passive income by Start investing in stocks and shares.
When we give our money to a company in the form of buying their shares, we would get some kind of return for that investment. We’re starting this topic with investing in stocks first because this is the easiest way to make passive income.
If you have any sort of savings lying in a savings account earning 0.01 percent interest, it’s not really doing very much for you. Whereas if you had those savings put in stocks, you’ll potentially be earning a good amount of passive income.
In stocks and shares mainly invest in index funds. An Example of an index fund is S&P 500. When you invest a thousand dollars in the S&P 500, that means your thousand dollars are distributed amongst the top 500 companies in the U.S or Other parts of the world, like Apple 2% and Facebook 2% and Google 2% and in Microsoft 2%.
Minimum per year from index funds you can expect 12% growth, but it can go 25%,50%,100%, totally depends on the market.it’s very easy to be able to invest in an index fund. So we’re going to give the difficulty of starting a one-star rating one out of five.
2.Generate passive income by Starting a YouTube channel
Idea number two for generating passive income is, start a YouTube channel. It’s very easy to start a YouTube channel so we give 1 out of 5 stars. YouTube.com, you can create a channel and upload videos by just filming with your phone. Actually, it’s not easy to make good videos and get views on Youtube. But getting started on YouTube is very easy and simple.
The real question is how hard is it to truly make money from YouTube. Firstly, to be eligible for monetization on YouTube, you need a thousand subscribers and 4000 hours of watch time during one year. It will take more than 6 months to get your first income from Youtube.
On average, the kind of revenue per thousand views on YouTube is around two dollars.
You can watch any videos on Youtube by searching ‘ start a youtube channel ‘, then you get a clear idea about it.
3.Get Passive income with a podcast
Idea number three for making passive income is, start a podcast. Podcasting is generally easier than starting a YouTube channel, although growing a podcast is a lot harder than growing a YouTube channel . Because podcasts themselves don’t really have an algorithm that’s helping them grow.
This is not quite a passive income because the way podcasters make money is by relying on brand deals. There is no YouTube ad sense for podcasts so you need sponsorship or a brand deal to make any money for your podcast. Apparently, you can expect to make around eighteen dollars for a 30-second ad in a podcast and 25 dollars per thousand views or a thousand listeners for a 60-second ad.
We going to give 3 out of 5 stars because it’s hard, but not as hard as monetizing on YouTube.
4.Earn Passive income – Become an affiliate marketer
Idea number four for generating passive income is, become an affiliate marketer. Affiliate marketing means that you are selling other people’s products. You are getting a percentage of the sales from those products.
How hard is it to get started with affiliate marketing? we are going to give 2 out of 5 stars. Basically, you can just sign up to an affiliate program easily like Amazon Associates. Amazon has its own program, which is probably the biggest in the world. Easy to get started with affiliate marketing, but it’s hard to make a hundred dollars a month.
Apart from Amazon, there are many other high % commission giving Affiliate websites like Jvzoo.com,Digistore24.com,Warriorplus.com,Clickbank.com,loodies.com, etc. Most digital products have very high commissions more than 60% sometimes. Almost all paid service or products selling websites have affiliate programs like fiverr.com,skillshare.com.
5.Get Passive Income by Selling digital products
Method number five of making passive income is by selling digital products. These are products that you create like an ebook or app. You create it once and, then you can sell it multiple times . Because selling digital products doesn’t have any extra cost associated with it. One really good example is, make an iOS 14 icon and sell. Another example is making website themes and sells them. We are going to give a 2-star rating out of 5.
6.Make passive income – Create an online course
Idea number six for passive income generation is, create an online course. The online course is sort of like a digital product, but generally online courses are in video format. We give the starting difficulty of 2 out of 5 stars.
you can charge for your online courses by using various websites like Skillshare.
7.Paid membership or community model.
Idea number seven for passive income is, creating paid membership, or paid community. To be frank, this is generally not an easy idea unless you have an existing audience. The audience must know you, like you, and trusts you.
It will take a long time to build up an audience. You just make an account on a kind of membership platform like Patreon on Youtube. To make 100 dollars a month, you need to provide 100 dollars a month’s worth of value services, that’s actually quite hard to do. We’re going to give a difficulty rating of 4 out of 5 stars.
The nice thing is, once you set the formula, once you start making one hundred dollars a month, it’s actually a lot easier to maintain.
8 .Build an app or a website or some kind of software product
Finally, idea number eight for generating passive income is, build an app or a website or some kind of software product that you can do a subscription service. literally, we have hundreds of examples of people who have built software that is making passive income.
You can make an app easily, then getting people to pay for the app is entirely not an easy task. We are going to give 5 stars out of 5.
All the Best.
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