Repackage your products. If you've already created successful content on a blog or website, you can convert that information into another form and sell it. For example, you can compile what you've written into an ebook and sell it on one of the ebook markets like Amazon or Barnes and Nobles. Alternately, you can use it to create an online course to sell on a website like Udemy. Reworking your content can earn you additional income streams without requiring you to actually produce new content.[13]

Then came a few recent emails from readers already on their first or second rental properties since I started the blog, thanking me for the encouragement to get going. Others had started their own blogs or started their own businesses. It was then that I realized my favorite part of this whole blogging journey has not been the financial gains (although you won’t hear me complain about it), it’s been the interactions with other physicians who are trying to achieve the same thing I am.
"Rental properties are wonderful for building wealth ... [but] they're not going to produce a lot of income on the front-end — at least not consistently — because you might make $200 a month on a rental property, but then what happens if a year and a half from now, the heating and the air system goes out on that rental property? That's a $4,000 to $5,000 hit," Carson said. "And so really, the rental property game, as opposed to flipping properties, is all about generating big chunks of cash that you can use to pay your bills, and hopefully, to save money."
Focus on your primary passive income stream first. It's difficult to grow your passive income into multiple streams if you don't already have one, solid stream. Focus all of your efforts on that one project first and help it grow as productive as possible. Then, you can take the money you've made and lessons you've learned from this passive income stream and put them into others.

Even if each patron only contributes a very small amount each month, it can still be a huge source of income. Take a look at the Patreon page for Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of just $3 a month would be a monthly income of almost $19,000 – plus they get cheerleaders that are always happy to spread the word on their brand.


4) Treat Passive Income Like A Game. The only real way to begin your multiple passive income journey is when you are making active income. The initial funding has to come from somewhere. Hence, treat passive income as a game that has various levels. If you fail to achieve one level, it’s not the end of the world since you still have active income and can restart. Furthermore, a game is meant to be played with integrity. Using shortcuts (non passive income streams), someone else’s income as a supplement (spouse), or one-offs (capital gains) does not count. The primary purpose of any game is to bring enjoyment to the player and beat the boss.


While Im working on developing my husbands web presence: I cant seem to make a decision for my own business between becoming a social media consultant OR doing the niche website biz. Niche webstie biz is more appealing to me. It would be great if I could help to make that final decision. I love all the options you mentioned. All very good. Apps biz takes upfront cash flow for sure. https://motiveinmotion.com/wp-content/uploads/2016/07/Passive-Income.png
Some good writing here! I am a realtor myself and frequently get in touch with clients that consider buying a realty estate a conservative of investing. I once heard of a transport company in Vienna, Austria, which focused their entire profit on buying eventually every house available in the downtown for about 80 years. That must be some of a passive income!
Though it can take a while to build up enough cash to put a 20% down payment on an investment property (the typical lender minimum), they can snowball fairly quickly. The key here is to correctly project income and expenses in order to calculate cash flow (the free cash you can put in your pocket after all associated property expenses have been paid). However you have to be sure to include the cost of a property manager in your calculations unless you want to manage the property yourself. Even with a property manager, you may be required to make large repair decisions every now and then – so while this is not a 100% passive activity, you are not directly trading your time for money like traditional employment.
My returns are based on full cash purchase of the properties, as it is hard to compare the attractiveness of properties at different price ranges when only calculating down payment or properties that need very little rehab/updates. I did think about the scores assigned to each factor, but I believe tax deductions are a SIGNIFICANT factor when comparing passive income steams.
This is an ideal strategy if you live in an area where real estate prices are too high to realistically invest in, or you don’t want the hassle and expense of traveling all over the country visiting potential properties. Plus, if you are new to single-family real estate investing, letting a place like Roofstock guide you through the process is a great way to get your feet wet. https://www.mamafishsaves.com/wp-content/uploads/2017/07/Basics-passive-income-Facebook.jpg
Most credit card companies offer sign-up bonuses to entice you to open a credit account with them. As long as you don’t spend money just to hit the minimum balance and always pay your balance on time, this can have a minimal impact on your credit score while earning you hundreds – or even thousands – of dollars a year. Some of the best travel credit cards offer 100,000 points to new accounts when you meet reasonable spending requirements.
Yet none of these people I've talked to who have this temporarily successful lifestyle seem very happy. They actually seem kind of restless and lost. I've had conversations with several of them to help them determine "what the purpose of their life is" now that they have some amount of money coming in from some little passive venture they don't even care about that much. It all feels empty to them.
As a general rule, the passive activity loss rules are applied at the individual level. Although Internal Revenue Code Section 469 was enacted to discourage abusive tax shelters, its impact extends far beyond shelters to virtually every business or rental activity whether reported on Schedules C, F, or E, as well as to flow through income and losses from partnerships, S- Corporations, and trusts. Generally, the law does not apply to regular C-Corporations although it does have limited application to closely held corporations.
Hello from the UK! Fundrise and Wealthfront are only available to US residents it seems :(. Any other readers from the UK here? The only thing I have managed to do from Sam’s list is getting a fixed rate bond (CBS is having a 5-year fixed rate at 2.01% – not great but the best I could find ). Don’t know if the FIRE movement will ever take off here but would love to trade tips/ideas on how to reach FI and have the freedom to consider alternative rythms to living.
Be aware that before your passive income stream can start making money, you have to spend many hours creating it, including building the website itself. You must also monitor your sales to see if you must make changes, take steps to ensure that your website appears near the top of the results page of search engines, and periodically add new content to keep visitors coming back.
Another great way to get started is to identify an area of interest you have. For instance, Robert Duff has been successful in building passive income by selling books on Amazon. Then, go out and start talking to people. Ask them, “What are you struggling with right now? What are your biggest pains? What’s something you wish existed that doesn’t?” That’ll give you some ideas about where to get started.
2. This article isn’t intended to be about making $50k per year from $0 to start with. This is intended to show different ways that it’s possible to generate $50k in passive income. As for your rental property comment, check out RealtyShares or other similar companies. You can be a rental property owner without having to run the business. You can be a limited partner and just invest in real estate, and leave the actual work to the general partner. Basically, there are options to make $50k without working, but like the first paragraph says – front load your life!

There is a big misconception about rentals & people thinking that it’s passive.. rental income is far from passive. Many people flock to buy rentals as a way to “retire rich” but realize shortly thereafter that it really isn’t that easy or true.. Ask me how i know. I have bought a lot of houses from tired and burnout landlords. Luckily, there are better options out there.
As a general rule, the passive activity loss rules are applied at the individual level. Although Internal Revenue Code Section 469 was enacted to discourage abusive tax shelters, its impact extends far beyond shelters to virtually every business or rental activity whether reported on Schedules C, F, or E, as well as to flow through income and losses from partnerships, S- Corporations, and trusts. Generally, the law does not apply to regular C-Corporations although it does have limited application to closely held corporations.
Once your audience has grown and you have validation that you’re offering them value, there are many ways to create passive income. You could sell digital products like ebooks or courses, take up affiliate marketing in which you promote other company’s products and earn a commission when you sell that item to your audience, build a community and charge people to be a part of it, create software and sell that, among other avenues. Ask your audience directly what would serve them best, or look at what they’re saying on Twitter, Facebook or other websites, to find out what problems they have and how you could help solve them.

This is an ideal strategy if you live in an area where real estate prices are too high to realistically invest in, or you don’t want the hassle and expense of traveling all over the country visiting potential properties. Plus, if you are new to single-family real estate investing, letting a place like Roofstock guide you through the process is a great way to get your feet wet.


However, I think for those who are willing to do what it takes, the sky is the absolute limit. As an example, I’m trying to take a page out of FinancialSamauri’s book and create an online personal finance and investing blog. It is an enormous undertaking, and as a new blogger, there is a seemingly endless amount of work to be done. That said, I hope that one day I can not only generate some passive income from the hours of work I have put and will put into the project, but I hope to be able to help OTHERS reach their financial goals.
For Tim, that was learning and writing a series of books, which he’s truly passionate about. For me, that’s traveling, learning, and working on startups that are “high risk” or have a long road to generating revenue. For you, maybe it’s spending time with your kids and not having to take overtime when it’s offered to you. In any case, the goal is to spend as little time as possible to cover your basic needs; if you want to spend more time to make more money, that’s always an option — but you want it to be an option, not a necessity.
2. Focus on income-producing assets. Internet growth stocks may be sexy, but they provide no income. To build a large enough passive-income stream to survive, you must invest in dividend-generating stocks, certificates of deposit, municipal bonds, government Treasury bonds, corporate bonds, and real estate. You're free to invest in non-income-producing assets for capital appreciation too. You just want to earn reliable income when the day comes to leave your job.

Creating passive income is the key to retiring, especially retiring early. If you want to retire early with the stock market you will have to save a huge amount of money, because that money has to last so long and retirement calculators depend on you using your investment to fund your life. With passive income you will have income coming in as long as you own the investment, without every eating away at the principle invested. Creating passive income may take more work than investing in the stock market, but I think it is well worth the extra effort!
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