Personal Finance

5 Benefits Of Passive Income (And 5 Ideas To Get You Started)!

benefits of passive income

 

Passive Income Is A Dream That Can Really Come True

How would you like to earn money on autopilot without actually having to do anything?

Earn money in your sleep, while on vacation, or while you’re out spending time with your friends and family or doing other hobbies that you love.

Sounds too good to be true?

Well, it’s not.

Developing passive income streams that run without you being actively involved can help you turn this dream into a reality.


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5 Benefits Of Passive Income

passive income benefits

Earning money while you sleep sounds like enough reason to fall in love with the idea of passive income, but there are other benefits you should consider.

 

1- Freedom Of Time

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First, yes, passive income gives you freedom of time.

If you do it right, you won’t be tied to a desk in a boring office all day long.

You’ll live a financially free life doing things you love because you want to.

Not because you have to.

 

2- Freedom Of Self

When you work for another person or even for yourself in a capacity that deals with other people, you have an image to portray.

If you want that job at that law office, you probably can’t pierce your eyebrows and rock that super-cute purple mohawk you love so much.

Some people even feel the need to hide their sexuality for fear of discrimination in the workplace.

Building multiple passive income streams can help you avoid these things.

With passive income, you are free to be uniquely you at all times.

 

3- Freedom Of Security

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While a steady job may seem secure, it’s really one of the least secure ways to support yourself.

You could be laid off or fired at any time.

Sure, you might be able to grab unemployment for a time, but that pays pennies.

What would you do if this happened to you?

If you build your passive income streams correctly, you don’t have such worries.

In fact, the more passive income ideas you can get rolling, the more secure your future will be.

If one bottoms out for some reason, you know you have other income sources rolling in.

It’s definitely a more secure position to be in!

 

4- Freedom Of Location

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If you build passive income businesses online, you’ll never be tied to any one location.

You can live literally anywhere.

You could make thousands of dollars a month for doing next to nothing, then go to a very inexpensive location and live like a pampered queen.

Who wouldn’t enjoy something like that?

 

5- Freedom Of Thought

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Passive income generally goes completely against everything most of us were taught in school.

We’re taught to do as we’re told, study what they tell us, get good grades, go to college and become really great worker bees.

What they don’t teach is business acumen, creativity, thinking outside the box, or even the most basic principles of investing to make the money we do earn at our jobs work for us.

Passive income takes you completely out of the rat race in that way.

It is a different approach to life and money that bucks the traditional system.

By establishing passive income streams, you ultimately free yourself from this rigid way of thinking that most of us who weren’t born rich, have had pressed upon us our whole lives.

You get to see how money works.

You learn how to make your money work for you, instead of you having to work so dang hard for your money!

 

5 Ideas To Get You Started Earning Passive Income

passive income how to get started

Now that you know what passive income is and why it’s important, I’m sure you’re wondering how to get started actually earning passive income.

Here are 10 passive income ideas to bring you financial freedom:

 

1- Invest Your Money

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Many people are so intimidated by investing because nobody ever taught them how.

I was once one of them.

Once I opened an IRA (investment retirement account) because I heard it was the thing to do when you got a grown-up job.

I plopped $50 in (all I had at the time), then forgot about it.

2 years later I remembered, went to check the balance hoping to see it had grown at least a little.

But nope. Same $50.

Completely befuddled, I hopped on the phone and called my stock brokerage trying to figure out why my money hadn’t grown at all.

They told me I had to actually invest it in something.

Mind. Blown.

Now I know it takes just a couple minutes to get a stock investing account open, and even less time to make a stock purchase.

To date, I’ve made thousands of dollars in passive income online through stock market investing, and it’s literally been the easiest money I’ve ever made!

But that goes to show how something so easy and accessible to every single one of us who has at least a little money and an internet connection, seems so abstract and hard to get.

Spending an hour or two one afternoon learning how the stock market works and learning how to invest can be the single most important action you can take toward generating passive income.

It’s step one toward getting the ball rolling for a better financial future.

Here is a great place to get started learning how to invest in the stock market.

 

2- Write & Sell E-books

self publishing kindle books passive income

If you enjoy writing or have a little extra money to hire ghostwriters, you can make hundreds of thousands of dollars in passive income by self-publishing e-books.

This is my personal favorite side hustle because of how painlessly easy it is.

You literally outsource all the hard work and over time the money really starts rolling in.

I was able to quit my corporate job after just 18 months of self-publishing.

Now I spend no more than 1-2 hours a week (if that) maintaining it, and never earn less than $10,000 per month for the trouble. Usually far, far more!

It’s really easy to get started, too.

If you start now, you can start earning your first passive income dollars in about a week or two.

Seriously!

Click here to get started right away!

 

3- Sell Stock Photography

stock photos passive income

If you have a decent camera and an eye for photography, selling stock photos online can be a very profitable passive income venture!

There are many avenues to take but selling stock photos online can be an incredibly lucrative hobby.

Simply upload your gorgeous images to sites such as depositphotos, and earn passive income when people download your content!

 

4- Creating E-Courses

Are you an expert on a hot topic?

Could you use video to teach others how to improve their skills?

If so, creating and selling an e-course might be a great passive income side hustle for you to take advantage of!

Yeah, you could do it the active income-earning way and teach one-on-one.

That’s a fun hobby that would generate money too.

But how many more people could you help, how much more money could you make, and how much more additional free time would you have on your hands if you made ONE video course, uploaded it to a platform like Teachable, and let the money roll in?

It’s the smart way to teach.

 

5- Start A Blog

If you enjoy writing, have a great story to tell, and enjoy connecting with others online, perhaps you could start a blog for passive income.

The most passive way to earn money with a blog is by running ads, but there are tons of other ways to monetize blog content.

The beauty of it is you write each blog post only once and if it’s good enough, it only takes light maintenance every blue moon to keep earning passive income for you.

And the best part of all?

You can literally start a blog for just $4.

Go now!

 

Want Even MORE Passive Income Ideas?

As you can see, there are many, many ways to earn passive income. Especially online.

I’ll be updating this list periodically to keep fresh ideas coming your way, so check back often.

But in the meantime, enter your details below to join my mailing list!

I’ll periodically send you even MORE tips, tricks & ideas for making money online!

 

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Passive income is all the rage if you're interested in financial freedom and making money online. But why? How? Here are 5 benefits of passive income streams and 5 ideas for how to get started!

5 Benefits Of Passive Income (And 5 Ideas To Get You Started)!




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