Tag Archives: passive income

How To Start A Profitable Vending Machine Business

25 Passive Money Making Techniques While Using Your Smartphone

People spend a lot of time on their phones. So, while on it, why not make a few bucks? You only need a smartphone, internet, and determination.

Start by Shopping

With the following apps, you can make money shopping.

Ibotta

This app helps you earn some cash buying things that you want to buy. Open the app and look for your favorite brand’s offers then go to the store and buy the things you selected. Remember to take a photo of your receipt.

Shopkick

Shopkick does not offer direct cash back. Instead, you earn points that are redeemable as gift cards.

Receipt Hog

Take photos of your receipts and earn “coins” which you can later turn into gift cards or cash.

Jobs2Shop

This one involves mystery shopping—going to restaurants or stores and giving feedback.

EasyShift

This one’s a mystery shopping app too. You follow a checklist and share the necessary information in the app.

Paribus

This app makes sure that you do not overpay for purchases. You get refunds if you do.

Swagbucks

Whenever you shop, you earn points on this app which you can redeem for gift cards.

Try Groups and Opinion Surveys

UserTesting

This one pays you to test out apps. You could earn $10 for a 20-minute session. 

uTest

On this platform, you undertake available projects such as creating reports then getting paid in return.

Nielsen Digital Voice

You get points if you allow Nielsen to track your phone usage. The points increase your chances of winning a prize.

Viggle

Get points for watching TV using your phone. The points can be redeemed for prizes, gift cards and prepaid debit cards.

Music Xray

Get paid to listen to music and sharing information about your favorite songs and bands.

Sell Stuff from Your Phone

Foap

Take photos on your phone and sell them on Foap. 

Poshmark

If you want to free up some space in your closet, sell some of your clothes on Poshmark.

Depop

This one works like Poshmark but you are not limited to just clothes. You can sell anything.

Decluttr

On Decluttr, you can sell electronics and pretty much anything else.

BookScouter

Sell back old textbooks if you have the ISBN.

Side Hustle from Your Phone

Uber (and Lyft)

Rideshare services can help you make a decent amount depending on when you drive.

Amazon Flex

Deliver for Amazon Flex and earn $18 – $25 an hour. The app allows you to set your schedule. 

Working Solutions

Help with customer care services and earn from $9 working from home. It works best of you have a regular schedule.

JustAnswer 

If you are knowledgeable in a certain field, answer customers questions on JustAnswer for money.

Airbnb

Rent out an empty room or apartment.

Handy

If you are a great handyman, get paid to do small projects.

Gigwalk

Get paid to perform small simple gigs around your town.

Grubhub

Earn money delivering food from restaurants whenever you are free.

How to Make Over $500,000 Flipping Domain Names

Flipping domain names is a great way to make money. Successful domain flippers will even tell you that making $100,000 is not that big of a deal. According to Flippa reports, domain names have been sold for millions.

Look at how much these domain names sold for:

CarInsurance.com – $49.7 million

Insurance.com – $35.6 million

VacationRentals.com – $35 million

PrivateJet.com – $30.18 million

Internet.com – $18 million

Domains in the secondary market are sold for an average of thousands of dollars. You already know that you can make money flipping domains, but how exactly do you do it? 

Every year, 47,450,000 domains are newly registered while 42,625,000 more are sold to new owners. That means that you have 90,075,000 potential customers who are ready to spend money on domain names. Given this number, you can easily get to $10,000 per month working no more than 10 hours a week. 

One thing is for sure, though, making money is never easy and in some cases, it is neither cheap nor profitable. 

Here are your other options. You will notice that they are not always that good. 

Running Google Ads: you probably do not know this but every time a visitor clicks on your ads, you pay $0.5 – $5. Google can also shut you down anytime.

Building websites: this is only sensible if you know how to build websites; otherwise, you must hire someone to do it which costs money. 

Affiliate marketing: you can make a significant amount of money with this method, but specialized knowledge is required. Without lots of practice or training, you will barely make money. You will also have to spend some money. 

The above alternatives are not that bad. However, you will need to put a lot of money and time initially to start seeing results. If you are looking for a better way, domain flipping is worth a try.

What is domain flipping?

Flipping, in simple terms, is buying a product at a low price then reselling at a higher price.  

The first thing you need to get started in this business is a marketplace or platform. The number one marketplace is Flippa. Thousands of buyers and sellers visit this site daily. It, therefore, offers you a better opportunity to make the kind of money that you want. Other great sites are Brand Bucket, Domain Market and Sedo.

What Does a Great Domain Entail?

It should be easy to remember when a domain is easy to remember, the task of promoting and marketing is made easier.

Find keyword-rich domains: the domain should have keywords that match the business.

Buy brandable domains: this requires creativity. In addition to being keyword-rich, it helps if a domain name sounds like a brand.

Only go for .com domain extensions: this is the most common and ideal domain extension.

If you are buying an expired domain, make sure it is a high-quality one.

Remember, you can buy and sell as many domain names as you want at the same time.

Passive Income Ideas You Can Use to Build Real Wealth

So many people research to make passive income and yet, a lot of them cannot find the answers they seek. The streams of passive income require a great deal of nurturing initially and upfront investment. After a while, they can maintain themselves and you will have consistent revenue. 

Here are a few ideas.

Dividend stocks: A lot of research is required on your side and a significant amount of capital. 

Peer to peer lending: This involves lending money to people who do not qualify for other loans.

Rental properties: investment in rental properties can be done in so many ways and it is a great way to have a steady monthly income.

Money market funds and high yield savings accounts: this is best if you want your money to work for you, but you do not want to think about it too much.

CD ladders: this involves buying certificates of deposits (CDs) in specific increments from banks.

Annuities: pay for an insurance product (annuity) then get monthly payments for life.

Automatically invest in the stock market: through a robo-advisor people who are not sure about the process of picking stocks can passively invest in the stock market.

Invest in a real estate investment trust (REIT): REITs are investment vehicles which hold your property within them.

Refinance your mortgage: if you refinance your mortgage, you can free up significant income.

Reduce or pay off debt: reducing your debt or paying it off completely helps you build your income. 

Invest in a business: being a silent partner in your business of choice can generate passive income for you.

Ideas That Need Initial Time Investment

Sell an eBook online: self-publishing is huge today and easy.  

Create a course on Udemy or Teachable: if you are an expert in any field, you can create a video course and let other Udemy/Teachable users buy it.

Sell stock photos: submit your best photography work on stock photo sites and earn commission whenever someone buys your photo.

Licensing music: this works like stock photos.

Create an app: hire a programmer and let them turn your idea into an app.

Affiliate marketing: this is ideal if you have a website or blog.

Network marketing: investigate Avon, Young Living Oils, etc.

Design T-shirts: you can start with Amazon Merch or Café Press.

Sell digital files on Etsy: this is perfect for talented designers.

Semi-Passive Small Business Ideas

Airbnb: list up apartments, houses, etc. and earn some money.

Start a car wash business.

Rent out your car (just like listing your place for rent).

Vending machines: you can have them all over town.

Storage rentals: these are very low maintenance.

Own a laundromat.

Easy Passive Income Ideas

Cashback reward cards: make sure your credit card offers these.

Cashback sites: when shopping online, use a cashback site.

Get paid to use an app: look for apps that pay you to install and use them.

Save money on your electric bill (you can use the Truebill app).

5 Reasons Why Passive Income Is Important

Passive income is the money you make automatically with little maintenance. It is the opposite of active income which you have to spend your time on to make money. This means that if you have an accident or get sick and are, consequently, incapacitated, you will not be able to have an income. 

Many people around the world depend on active income. The wealthy ones, however, have different sources of passive income such as real estate. 

Coming up with a stream of passive income is a huge deal. At first, you will have to spend a lot of time. During this time, you will barely make any money. However, after the heavy lifting is done, you will continue to get money. 

There are countless streams of passive income that you can opt for including traditional means like real estate and online methods. 

Initially, you will find it difficult but when you realize how important passive income is, you will start seeking out other streams.

Why Is Passive Income So Important?

It Offers the Freedom of Time

Time is your greatest asset. You can only use up time once; if it passes, then that’s it. Moments cannot be relieved. With passive income, you will have more time in your hands. 

You will be flexible and not pressured to make ends meet every month. If you get to the point where your passive income is more than your expenses, you will have achieved total financial freedom. You can travel the world and do what you want.

It reduces Fear of the Future, Stress and Anxiety

Not being able to pay all your bills may cause hopelessness, anxiety and fear of what the future holds. You start asking the scary what-if questions. This affects your spiritual, physical and mental well-being. 

If you constantly live in fear of what may happen in the future, you will be unable to enjoy the present. You cannot enjoy your life because worst case scenarios are playing repeatedly in your mind. 

Passive income alleviates some of these worries. The thought of losing your job will not be that scary.

It Lets You Pursue Your Passion

There may be something that you are very passionate about, you would love to pursue it but money won’t allow. You have to work most of the time to pay off debt and bills. With passive income, you can do what you want even though it does not necessarily bring in a lot of money.

You Can Live and Work from Wherever You Want

You can never take too much time away from your work. Passive income allows you to tour the world. You do not have to worry about asking for permission from the boss. 

You Get a Platform for Financial Growth and Stability

With automatic income, you are free from stress. Your expenses do not scare you because they are taken care of. You have all the time to think about other things and set new goals.

7 Easy Ways to Make Passive Income with Real Estate

Real estate is an amazing way to make passive income. You don’t even need to own commercial or residential rental properties. 

You have other options such as crowdfunded real estate investing. 

This is much like peer-to-peer lending. Their platforms match investors with ideal investment choices. In a case like this, investors do not have to bargain with sellers or involve themselves in ownership transfer and management of the properties. They also allow you to earn passive income without investing a lot of money. 

Here are seven of the most experienced crowdfunded real estate companies.

Rich Uncles

The minimum investment amount is $5. Anyone can get started. 

How It Works

Through crowdfunding, Rich Uncles makes it possible for everyone to invest in real estate. They have student housing and commercial properties and you can choose one or both.

Who Can Invest?

You can invest even though you are not an accredited investor but you should have a net worth of $250,000 or a minimum family income of $75,000. 

Fundrise

This is an online platform for real estate investing. The minimum investment requirement is $500. Mostly, they involve themselves in commercial property. 

How It Works

There is an eREIT investment funds list for investors to browse and choose the most suitable one. They also aim at cutting out the middleman.

Who Can Invest?

The only requirement is a minimum investment of $500.

Realty Mogul

You invest by buying stock shares in their LLCs. These LLCs then invest in a different LLC with the property title. This minimizes overhead. 

How It Works

Realty Mogul is basically all about buying stock shares.

Who Can Invest?

Both credited and non-accredited investors can invest. The latter, however, are limited.

stREITwise 

This crowdfunded-type REIT manages commercial property. Your private real estate asset portfolio will be professionally managed. The minimum investment is $1000.

How It Works

They will hold your initial investment for at least a year.

Who Can Invest?

Just like Realty Mogul, accredited and non-accredited investors can invest. 

EQUITYMULTIPLE

It allows investors to be a part of professionally managed commercial property. They have privately held REITs for accredited investors.

How It Works

A minimum investment amount of $5000 is required. Properties include:

  • Thriving commercial properties
  • Short-term loans
  • Value-add projects

Who Can Invest?

It is only open to accredited investors. 

RoofStock

This is not really a company for crowdfunded real estate investing. However, it makes it cheaper to own rental properties.

How It Works

Through equity investments, accredited investors can invest in a number of properties. 

They have a list of all their rental properties and you can browse to choose the one you like. They will arrange details such as closing and financing.

Who Can Invest?

Accredited and non-accredited investors alike can invest.

Crowdstreet

They focus on commercial property investing. Investors can get debt and equity investment deals.

How It Works

You choose specific properties and buy a stake. 

Who Can Invest?

This one is for accredited investors only. They have set a minimum investment amount of $10,000.

How to Publish Books with No Content for Profit

No Content Books: What Are They?

By simple definition, they are blank books such as sketchbooks, logbooks, guestbooks, diaries and journals. 

Maybe you don’t like writing and you would love to venture into self-publishing or maybe you are already a self-publisher—in both cases, you can publish no content books with KDP Print or CreateSpace.

These are not the only platforms for blank books publishing but they are focus of this post. 

You are probably wondering: who still writes journals in this day and age? For your information, many people still care for journals.

How to You Publish No Content Books?

First, there is a specific skill set that you need to have. Learn how to:

  • Use Microsoft Word
  • Create paperback covers
  • Create PDFs
  • Create different elements in a Word document
  • Perform an Amazon keyword research

Don’t let this list overwhelm you. These are things that you can easily learn. And once you do, you will be able to create pretty much anything and probably make lots of money.

Types of Books with No Content

Journals are not the only no content books. Here are other types of low/no content books:

  • Composition books
  • Notebooks
  • Guestbooks
  • Logbooks
  • Baby books
  • Blank sheet music
  • Sketchbooks
  • Anything else that your mind can think of

For higher chances of success, niche down to prayer journals, comic sketchbooks, etc.

To help you get started, the skill sets required will be discussed in detail below. You will know where or how you can acquire each skill.

Using Microsoft Word

Many people already know how to use Word. It is a common and basic skill. If you have never used it, don’t worry. There are countless videos on YouTube and articles that will guide you. Just do a quick Google search.

Microsoft Office can be too expensive for some people. In that case, try:

  • OpenOffice
  • LibreOffice
  • Microsoft Office 365

Doing an Amazon Keyword Search

The internet is saturated with content that can teach you this. The best place to start, however, is on Amazon itself.

Other than Amazon, there free tools such as:

  • Keywords.io
  • KeywordToolDominator
  • Sonar

Creating Elements in a Word Document

While something like creating lines sounds straightforward, it is not. You can’t make lines by drawing them using a number of underscores or the Line Tool. You have to do it with tables. 

Find a guide on Google.

Creating PDFs

This one is easy. With no content books, you will be required to upload a file in PDF format on the publishing platform.

All you need to do is save the document as PDF in the office suite software once you are done working on it. 

Creating Paperback Covers

Paperback covers are hard to create. If you don’t have experience in graphics, it is better to outsource the process. 

Photoshop is one of the best software for this but it is not free and the learning curve is steep.

Free options include:

  • GIMP
  • KDP Print cover creator
  • Canva.com

The Downside

  • You will face fierce competition.
  • Good marketing is a must.
  • Amazon has a strict set of rules.

100+ Types of Digital Content You Can Create To Make Money

When starting a blog, the first major decision you will have to make is the kind of content to create. This article brings a long list of content types. Hopefully you will find something that interests you. 

The list is divided into three major groups:

  • Textual content
  • Multimedia content
  • Other

Textual Content

This type of content does not require video or audio material. You only need to arrange words into compelling text. 

  • Blog posts (long, consistent text)
  • Articles such as announcements and news
  • How-to instructions for readers
  • Guides that share knowledge
  • Top “X” lists
  • Q & A
  • Case studies
  • Testimonials (what clients say about you)
  • Interviews
  • Product reviews
  • Checklists
  • Research—sharing your findings
  • White papers for technical information
  • Industry news
  • Company news
  • Guest posts—let other bloggers post on your site
  • Personal stories
  • Success stories
  • Personal bios
  • Comments (readers’ feedback)
  • FAQs section
  • Glossary
  • Wikis
  • Versus articles
  • Comparisons
  • Predictions
  • Inspirational messages (this is a good way to go viral)
  • Content on avoiding failure
  • Interesting facts
  • Funny stories
  • Quotes by famous people
  • Literary works
  • Microblog posts (short valuable content)
  • Best practice experiences
  • Metaphors
  • Scheduled events (so your audience can meet you)
  • “Why” content 
  • Cost sheet
  • Product announcements
  • Newsletters
  • Promoted posts
  • Recipes
  • Disclaimers

Multimedia Content

Here, you mix different kinds of materials. It is a large group that includes pictures, audio, video or a combination of them all. 

  • Infographics (for statistics, facts, etc.)
  • Cheat sheets
  • eBooks
  • Screenshots
  • Audio posts
  • Audiobooks
  • Photography (post your work)
  • Podcasts
  • Vlogs (e.g. travel vlogs)
  • Live videos
  • Micro videos (short, promotional videos)
  • Presentations
  • Webinars
  • Polls
  • Online events
  • Courses
  • Surveys (gather opinions and data)
  • Roundups
  • SlideShares (create and post slideshows)
  • Data visualization (portray data with graphs and charts)
  • Data collecting (post cool research results or data)
  • Diagrams
  • Illustrations (tell a story with pictures)
  • GIFs (best for social networks)
  • Demonstration (e.g. how something works)
  • Transparency 
  • Posters
  • Memes (graphic content for entertainment or comedy)
  • Cartoons and comics (create something funny and interesting)
  • Competitions (contests for your audience)
  • Online magazine
  • Fun quizzes
  • Music videos
  • Public service announcements (PSA)
  • Maps—show historical places
  • Forums for people to discuss various issues
  • Fan page for your favorite celebrity
  • Media mentions—show what the media says about your business
  • Giveaways- people cannot say no to free stuff
  • Feature pages 
  • Daily shows—talk to your audience regularly about anything

Other

  • Plugins that could be useful for readers
  • Templates 
  • Free tools 
  • Browser extensions—integrate your content into browsers
  • QR codes 
  • Free resources for readers to download
  • Chat rooms for visitors to share information
  • Mobile apps 
  • Countdowns to significant events
  • Social network buttons
  • Calculators 
  • Converters for different units
  • User generated content (allow visitors to post)
  • Collaborations with fellow bloggers
  • Email campaign
  • Landing pages 
  • Promo-sites (promoting services or products)
  • Income reports 
  • Best awards 
  • Online games (simple browser games to attract visitors)
  • Offline magazines—scan and post printed magazines
  • Swag—send branded little gifts to your audience
  • Ads

Conclusion

Content does not have to be long articles. Use different forms of content to attract a wide audience. 

15 Things You Need to Know About Annuities

Guaranteed income streams are becoming more attractive as crushed dreams and investments become the retirement nightmare for most people. With some annuities, you can get this guarantee. 

Annuities come in different types. You need to be educated before you commit your money. So here is a guide. 

Annuity: Definition

It can be defined as a contract between an insurance company and a consumer (you) to cover certain goals. The goals could be long-term care expenses, legacy planning, lifetime income or principal protection. 

An annuity is not an investment, even though some insurers market is as such. It is a contract. Breaking the contract is almost impossible. 

Why an Annuity?

Many people buy annuities to get a guaranteed source of income. That is why they are popular in retirement planning. There is no contribution limit and you can save as much as you want. 

How Does It Work? 

In simple terms, an annuity transfers risk to the insurer from the owner (annuitant). You then pay the company premiums. These premiums can either be paid in a series of installments or a single lump sum. 

The payments are not indefinite. After some time, you stop paying and get paid instead. All annuities are not the same. Some pay you for as long as you live, and when you pass a way at a defined time frame, your beneficiary will be paid the remainder. 

Different Types of Annuities

Annuities are divided into two categories: immediate and deferred. 

With an immediate annuity, the income begins almost immediately. It, however, won’t come right away. After you pay the lump sum, you start receiving income after one annuity period. It could be a year or one month. 

A deferred annuity offers a lifetime income and tax-advantaged saving. The payments begin years later. 

Principal Protection with Fixed Annuity

The series of payments and minimum rate of return are fixed with this type of annuity, but under predetermined conditions. 

Early Withdrawal Penalties

If you choose to withdraw your funds before the specified time, you may incur surrender charges. The charges usually reduce with time.

Investment Risk in a Variable Annuity

The insurer invests your money in different sub accounts if you choose a variable annuity. The rate of return will depend on how these subaccounts perform. 

Annuities and Tax

Just as with an IRA or 401(k), you pay taxes when you withdraw the money. The tax depends on whether you funded the annuity with after-tax or pre tax dollars. 

Annuity Fees

Variable annuities have annual fees but most other types don’t. All of them, however, have commissions. 

Indexed Annuities

Contrary to how they are marketed, fixed indexed annuities are complicated and they have limited protection and potential. 

Riders for Extra Benefits

Riders can enhance the long-term care provisions, legacy or income—but at a cost. They can either be living riders or death benefit riders. 

Early Death

If you die earlier than expected, the insurance company won’t keep your premiums. 

Guarantees

Annuity payments are guaranteed by the insurance company, not the government. So the insurer’s financial strength matters. 

Annuitize Gradually

Annuities present an opportunity cost risk. That is why you need to annuitize gradually instead of paying your premium as a lump sum. 

Annuities Are Not for Everyone

People who don’t expect to reach their life expectancy or run out of income don’t require an annuity. 

Americans hear a lot about the shaky outlook for Social Security. In the future, the federal program likely will play a smaller overall role in Americans’ retirement plans.

One way to fill in the gaps of a savings portfolio is to put money in annuities. With an annuity, you pay a premium in exchange for guaranteed income payments at regular intervals. It is most often used for retirement purposes.

The basic types of annuities are equity indexed, fixed rate and variable. The major advantage of annuities is that they all guarantee benefits such as tax-free growth, the ability to pass money directly to heirs or charities and an income stream for life.

Over the past few years, equity-indexed annuities have gained a great deal of popularity. They offer interest or benefits that are linked to an external equity reference – a stock index like the S&P 500, for example. But you get a guaranteed minimum return in exchange for a limited maximum return; that is, you get less upside, but also less downside, to your stock-market investing. Your principal is never at risk.

Fixed-rate annuities, on the other hand, guarantee an interest rate and a declared minimum. They have traditionally been the most popular annuities.

Variable annuities provide more options. They enable you to invest in stock, bonds, mutual funds and money-market instruments.

Reputable financial companies, like TrueYield Financial, want to make sure investors are comfortable when purchasing annuities. Here are some tips for the potential investor.

* Be sure the firm you work with is not limited to offering just one company’s annuities. There are many options available, so work with an agent that can get the one that best fits your needs.

* Understand what you are buying. Talk to your financial adviser or agent about which annuity may be right for your retirement portfolio. Fully understand the annuity contract you are considering.

* Define your goals. Annuities can be used to accomplish several financial goals. For example, they can supplement your monthly income or provide emergency funds. Decide which purpose your annuity will serve.

* Ask your agent if you have a “free look” period to review your annuity contract and make sure you have made the right decision.

* Investigate whether a bonus annuity is right for you. Bonus annuities credit premium bonuses to allow a retirement saver to make up for stock market loss or to provide an immediate boost to the account value.

70 Passive Income Ideas to Stop Trading Time for Money

  • Affiliate commissions: refer customers to a product and earn commission.
  • Podcasting: sponsor products/services on your podcast.
  • Kindle book sales: self-publish a book and sell it on Amazon.
  • Paperback book sales: make a paperback edition of your kindle books. 
  • Audiobooks: create an audiobook edition as well.
  • Dividend investing: buy shares to get dividend cash flow.
  • Udemy course sales: if you are good at something, teach people how to do it via an online course.
  • Selling digital products on Fiverr: try selling your books on Fiverr too.
  • Merch by Amazon: upload designs and leave the rest to Amazon.
  • Display ads: show ads on your websites and make a few extra bucks.
  • Sell a featured listing: if your site has a directory component, businesses will pay for the top “featured” slot.
  • Non-Display Ads: this involves allowing advertisers to have retargeting scripts on the site.
  • YouTube Ads: you only need 1000 subscribers to use Google’s monetization.
  • Fundrise: this lets people invest in real estate with a low minimum investment.
  • PeerStreet: you help real estate flippers and earn a percentage on your investment.
  • Worthy bonds: this is a great way to diversify your portfolio.
  • Credit card rewards: think free gift cards, cash back, etc.
  • Cash back apps: some of the apps include Pei, Fetch Rewards, Wikibuy, etc.
  • Mint Mobile: this is a cheaper service provider that helps you save more.
  • Trim: If you want to cut back your expenses, this app will help.
  • Debt-free life: no debt means more money in your pocket at the end of the month.
  • Commute-free life: work from home to save more.
  • Rent, don’t buy: in some areas, renting is cheaper.
  • Savings account interest: the interest is not much, but it is something.
  • Checking account interest: every penny counts.
  • DiversyFund: it is an eREIT.
  • Roofstock: this one is for real estate too.
  • AcreTrader: for America’s farmland investing.
  • RealtyMogul: it’s a real estate crowdfunding site.
  • YieldStreet: only for accredited investors.
  • Website investing: create a website to make money.
  • Raw land flipping
  • Royalty exchange: this involves buying future royalties.

Peer-to-Peer Lending Platforms

  • Prosper
  • Lending Club
  • Bondora
  • Zopa
  • RateSetter: for diversified loan portfolios
  • Certificate of deposits: this is a safe option.

Passive Income Through Business Lending

You can earn by lending cash to small businesses using the following options.

  • StreetShares
  • Kickfurther
  • Funding Circle
  • P2BInvestor

Building Income for Passive Cashflow

  • Make an email course.
  • Come up with an online course.
  • Get into software/app development.
  • Music licensing.
  • Photo licensing.
  • Alexa skill development.
  • Voice over royalties.
  • Subcontract a service business.
  • Sell a digital guide or file.
  • Drop shipping.
  • Vending machines.

Selling Assets or Sharing Ideas for Passive Income

  • Amazon FBA.
  • License product ideas.
  • Rent out your spare room.
  • Rent out your vehicle.
  • Rent out the RV.
  • Rent out the boat.
  • Rent out the backyard.
  • Grow marijuana.
  • Rent out unused stuff.
  • Rent out your attic/garage.
  • Rent out the parking space.
  • Share your data.
  • Rent your bandwidth.
  • Use your car as a billboard.

Reverse passive Income Ideas

  • Cut car insurance costs.
  • Don’t go to the gym.
  • Use the Dosh app.

Multiple Streams of Income Just as Important as Air Itself

Statistically, millionaires tend to have at least seven streams of income. Generally, income is divided into two categories: passive and active. You earn active income when you work, that is, per the hour, per month, etc. If you do not work, you do not get paid. Passive income is earned repeatedly for a single action or investment. It is not related to you working actively. You still need to work for passive income, but the payment is not tied directly to the number of hours you work. Accumulating wealth is not that difficult. Here is what you must do:

  • Sell your time and earn money.
  • Make sure your expenses are less than your income.
  • Invest what you save so it grows.

The only problem here is the Maslow’s Hierarchy of Needs. You need a house, food, and other basic needs which cost money. In a perfect world, it would be easy to use money from your day job to build a huge successful business. The reality is, that money goes to accommodation, food, and clothes. 

Subject to Financial Gravity

Assume that your net worth is an airplane. Your goal is to make it airborne and soar high. Your expenses determine the size and weight of your plane. The heavier the plane, the harder it is to fly it. Only when your income (thrust) exceeds your expenses (gravity) will you be able to take off. 

Begin with Active and Build Passive

Use what you have for now—active income from your job—and save enough to create a passive income stream. On matters saving, there are two concepts: Earn more: focus on making more money either through side hustles or businesses.

Save more: cut your expenses and live frugally. Ideally, do both. When you cut expenses, your disposable income increases immediately. On the other hand, earning more is a long-term thing. Save as much as possible, this cannot be emphasized enough. You can either build your own business using your savings and reap from that or you can lend someone else your savings.  They will use the money to build something valuable and pay you back for your money. As you build your business, you will have to give up active income and work for free, initially, before it becomes profitable. Think of it as volunteering at your business. In future you will reap both passive and active income. While you are doing this, your expenses will still need to be paid. This means that your business will either be a side hustle for a while, or you will be relying on your savings. When you lend out the money, someone else will be doing the heavy lifting.

Common Streams of Passive Income

  • Interest from various loans
  • Dividends from partnerships or investments
  • Capital gains from selling investments
  • Royalties from licensing or selling products
  • Rental income from you real estate property
  • Business income 

Passive income is becoming more popular by the day. However, many people still do not understand how beneficial it is. Believe it or not, making money in your sleep is not the biggest benefit. The conclusion outlines more important reasons why everyone should seek a passive income stream or be in the process of creating one.

You Will Have a Reliable Retirement Life

Planning for retirement should not be a huge headache—unless you think that you can only prepare for retirement by saving. If a sudden change in your life or the economy happens, your savings may not be very helpful in retirement. It is no secret that savings are just not enough. You will have unexpected expenses especially in your old age and you are likely to underestimate the amount you should save. People are living longer nowadays but that should not mean they want to work more years. A passive income stream means that you will have constant cash flow. You will be getting an amount of money regularly, unlike with savings. It will be like getting a paycheck without actively working. 

Many Passive Income Streams Are Taxed at a Lower Rate

Wealthy people know that some income types are not taxed at the same rate—that is why they do not appear to be burdened by taxes. Active income, in most parts of the world, is taxed very highly. Again, you cannot defer active income tax, something that you can do with passive income tax. 

You Can Create and Accumulate Wealth Easily

When first nurturing a passive income stream, you may use a lot of effort and time. After that, you can relax and watch money flow in. The point is that a time will come when you will not have to do much, but you will still enjoy cash flow. Soon enough, you will be able to create another passive income stream.

Passive Income Will Increase Your Standards of Living

This is in the sense of better relationships and better health. Modern lives commonly lack physical, mental and emotional health. Meaningful friendships and relationships are becoming harder to make with each new generation. When you spend too much energy and time on your day job, you are forced to spend less of that in other areas. You can barely afford to get enough sleep, make a healthy meal or hit the gym. At the end of the day, you are mentally stressed. However, you can do nothing about it because you must pay bills and you probably have people depending on you. Most people don’t have the energy and time to take care of other aspects of their lives. Passive income improves your standards of living in that, you will have extra energy and time to spend on other areas. You do not need to rely on direct income for a living. The four reasons outlined above should be enough to convince you to create passive income.

Time Is Money: Financial Independence Retire Early

Starting a Dog Walking Business? What You Should Know

If you love dogs, then a dog walking business may seem like the perfect job for you. However, there are few important factors you should consider before diving in. Although most of your working time will be spent walking dogs, this niche is not different from other kinds of businesses. You will oversee marketing, advertising, banking, invoices, and a ton of other tasks. You will have many responsibilities ranging from returning emails and calls to maintaining your website and filing taxes. You may hire someone to help you with some of the tasks or you may do them all by yourself—either way, they must be done. Running a business comes with a magnitude of responsibilities but it has many advantages too. For instance, you will be doing what you love.

Research

If you are sure you can handle the non-dog-walking parts of this business, the next step is extensive research. This will help you know whether your business has a chance of being successful. Is the demand for a dog walker there in your area? What about the competition? With too much competition and very little demand, you stand no chance. Talk to those who work in pet grooming and pet stores. You can also get this information from classified ads. 

Training

Even though you love dogs and have a way with them, you need the experience and skill of controlling dogs. Either take a dog training course or volunteer at a local shelter. This will help you interact with different types of dogs and prepare you properly for the business. You will also gain confidence. 

Legal Considerations

Do not fall into the temptation of skipping these steps until your business grows.  This small mistake can attract huge penalties and fines. Select a business entity: your dog walking business can be a sole proprietor (many dog walkers opt for this) but choosing a different form of business may be wise. You will be responsible for any damages done to or by the dogs and you may, therefore, want to think about choosing a limited liability corporation. Licensing issues: a license specifically for dog walking may not be necessary in many jurisdictions but a general business license is required. Investigate what is required in your location.

Local rules and regulations: if you are going to be a professional dog walker, make sure you know about all the local regulations that could affect you. Dog walking contract: a written contract is a must-have between your clients and your business. The contact should outline your responsibilities, terms of compensation, among other things. To be on the safe side, make it as specific as possible.

Insurance

Whenever the dogs are in your care, you are responsible for them. Buy good insurance coverage to safeguard yourself.

Franchise Opportunities

Buying a franchise is a great alternative. While it may be expensive, the benefits are many. 

25 Passive Money Making Techniques While Using Your Smartphone

People spend a lot of time on their phones. So, while on it, why not make a few bucks? You only need a smartphone, internet, and determination.

Start by Shopping

With the following apps, you can make money shopping.

Ibotta

This app helps you earn some cash buying things that you want to buy. Open the app and look for your favorite brand’s offers then go to the store and buy the things you selected. Remember to take a photo of your receipt.

Shopkick

Shopkick does not offer direct cash back. Instead, you earn points that are redeemable as gift cards.

Receipt Hog

Take photos of your receipts and earn “coins” which you can later turn into gift cards or cash.

Jobs2Shop

This one involves mystery shopping—going to restaurants or stores and giving feedback.

EasyShift

This one’s a mystery shopping app too. You follow a checklist and share the necessary information in the app.

Paribus

This app makes sure that you do not overpay for purchases. You get refunds if you do.

Swagbucks

Whenever you shop, you earn points on this app which you can redeem for gift cards.

Try Groups and Opinion Surveys

UserTesting

This one pays you to test out apps. You could earn $10 for a 20-minute session. 

uTest

On this platform, you undertake available projects such as creating reports then getting paid in return.

Nielsen Digital Voice

You get points if you allow Nielsen to track your phone usage. The points increase your chances of winning a prize.

Viggle

Get points for watching TV using your phone. The points can be redeemed for prizes, gift cards and prepaid debit cards.

Music Xray

Get paid to listen to music and share information about your favorite songs and bands.

Sell Stuff from Your Phone

Foap

Take photos on your phone and sell them on Foap. 

Poshmark

If you want to free up some space in your closet, sell some of your clothes on Poshmark.

Depop

This one works like Poshmark but you are not limited to just clothes. You can sell anything.

Decluttr

On Decluttr, you can sell electronics and pretty much anything else.

BookScouter

Sell back old textbooks if you have the ISBN.

Side Hustle from Your Phone

Uber (and Lyft)

Rideshare services can help you make a decent amount depending on when you drive.

Amazon Flex

Deliver for Amazon Flex and earn $18 – $25 an hour. The app allows you to set your schedule. 

Working Solutions

Help with customer care services and earn from $9 working from home. It works best if you have a regular schedule.

JustAnswer 

If you are knowledgeable in a certain field, answer customers questions on JustAnswer for money.

Airbnb

Rent out an empty room or apartment.

Handy

If you are a great handyman, get paid to do small projects.

Gigwalk

Get paid to perform small simple gigs around your town.

Grubhub

Earn money delivering food from restaurants whenever you are free.

How to Make Over $500,000 Flipping Domain Names

Flipping domain names is a great way to make money. Successful domain flippers will even tell you that making $100,000 is not that big of a deal. According to Flippa reports, domain names have been sold for millions.

Look at how much these domain names sold for:

CarInsurance.com – $49.7 million

Insurance.com – $35.6 million

VacationRentals.com – $35 million

PrivateJet.com – $30.18 million

Internet.com – $18 million

Domains in the secondary market are sold for an average of thousands of dollars. You already know that you can make money flipping domains, but how exactly do you do it?  Every year, 47,450,000 domains are newly registered while 42,625,000 more are sold to new owners. That means that you have 90,075,000 potential customers who are ready to spend money on domain names. Given this number, you can easily get to $10,000 per month working no more than 10 hours a week. 

One thing is for sure, though, making money is never easy and in some cases, it is neither cheap nor profitable. Here are your other options. You will notice that they are not always that good. Running Google Ads: you probably do not know this but every time a visitor clicks on your ads, you pay $0.5 – $5. Google can also shut you down anytime.

Building websites: this is only sensible if you know how to build websites; otherwise, you must hire someone to do it which costs money. Affiliate marketing: you can make a significant amount of money with this method, but specialized knowledge is required. Without lots of practice or training, you will barely make money. You will also have to spend some money.

The above alternatives are not that bad. However, you will need to put a lot of money and time initially to start seeing results. If you are looking for a better way, domain flipping is worth a try. What is domain flipping? Flipping, in simple terms, is buying a product at a low price then reselling at a higher price.

The first thing you need to get started in this business is a marketplace or platform. The number one marketplace is Flippa. Thousands of buyers and sellers visit this site daily. It, therefore, offers you a better opportunity to make the kind of money that you want. Other great sites are Brand Bucket, Domain Market and Sedo. What Does a Great Domain Entail? It should be easy to remember when a domain is easy to remember, the task of promoting and marketing is made easier. Find keyword-rich domains: the domain should have keywords that match the business.

Buy brandable domains: this requires creativity. In addition to being keyword-rich, it helps if a domain name sounds like a brand. Only go for .com domain extensions: this is the most common and ideal domain extension. If you are buying an expired domain, make sure it is a high-quality one. Remember, you can buy and sell as many domain names as you want at the same time.

5 Simple Ways to Generate International Passive Income

There are many organizations that provide you with an opportunity to generate international passive income. But the problem is that most people do not understand it properly and think that they are scams. I understand that it may be true to some but not for all. There are some programs that may promise you of high international passive income but they do not actually do what they promise.

Mostly, these international passive income programs are related to trading business or an online marketing business. There are many ways through which you can find out what these programs are really offering to you.

Firstly, you should find out if the program provides you with the necessary tools or training that is required to operate the business internationally. This is noticed in the online marketing industry. They have websites that display offers for all to review.

Secondly, you should check if the income is passive. A passive income is a profit that you will receive daily and that can be maintained by putting in little efforts. The network marketing association and network marketing groups are such two great examples of the passive income. The basic goal of network marketing is to employ more and more people in the business and you can earn a good commission amount based upon the sales they make and also on your own sales. This means that you can earn commissions based on the people you have recruited when they make sales without you being actually putting any efforts in generating those sales.

There are several other ways wherein you can earn international passive income. Well, most of the programs actually support active incomes which are generated instantly like forex trading. But, the international passive income programs should be chosen carefully by researching them, then deciding whether they meet your expectations or not.

Here are some of the ways to generate international passive income.

1: Writing: Write articles and promote products to earn money.

2: Blogging: There are many people who earn money by writing blogs.

3: Affiliated marketing: It is how you market other peoples products and services.

4: Selling out your own items on E-bay or Quickr.

5: Writing your own e-book and selling it online.

You can get international passive income opportunities by carefully researching them, online with the help of the internet. Well, most of us may think that these income streams are a scam because not all understand it properly. But, this is not true. A international passive income is a source to earn money for those who would like to work from home. It can also be a great opportunity for those who want to just earn extra money.

The international passive income can either be a result of the overseas customers, who are buying your product or services or it can be an overseas company who have appointed you to market and sell their products. Whatever the case may be, you will be paid for the efforts based on the amount of time and determination you put into the work. In most cases your payments can be deposited directly into your bank account.

Source:

http://www.josic.com/5-simple-ways-to-generate-international-passive-income

Top 8 Ways to Create Passive Income

Wouldn’t it be great if you could have a continuous stream of income deposited into your savings and/or checking account? Think about it. You wouldn’t have to worry about paying the bills on time or having money to buy groceries for your family. An extra $500, $1,000 or more in your bank account will reduce your money worries and stress.

While having multiple streams of income is ideal, you need to choose the right one for you. For example, if you want to earn money from a blog, you need to pay for web hosting, choose the right niche, design your website (or have someone design it for you), create a blogging schedule, share your posts, develop a community, guest blog, and choose the best affiliates for your blog niche. Blogging is work, but it is fun!

If you want to earn additional monthly income and start saving for retirement (or add to a fund), college, vacation, etc., check out the top eight ways to create passive income listed below. Some require more work than others. But all of them will put extra cash into your pocket.

8 Ways to Create Passive Income

1. Affiliate marketing.

Affiliate marketing means you sign up with a company and/or entrepreneur and sell their products. For example, if you start a tech website, you could become an affiliate of a web hosting or anti-virus software company. You can earn hundreds or even thousands of dollars each month if your website receives a decent amount of web traffic and you have thousands of email subscribers. Being an affiliate marketer takes dedication and time. You need to build traffic via your website, email marketing and social media. Is this for you? You be the judge.

2. Start a freelance business.

Have you always wanted to own your own business? You could start a side business while you work a full-time or part-time job. For example, if you’re a graphic or web designer, you could start your own graphic or web design business on the side. If you like to make jewelry, you could sell at craft fairs and online. Starting a business may be daunting, but if you believe in you and your work, you could earn a decent living, maybe even quit your day job. Search out those who are doing what you want to do and interview them. Find out the mistakes they made and ask for guidance.

3. Network marketing.

Network marketing or multi-level marketing is one of the most popular passive income streams. When you join a network marketing company, you become part of a team. The goal, for some, is to become a leader, such as a district manager of your area, because you can earn more money. The drawback to network marketing is poor leadership and the emphasis on building teams quickly. If you join a team with a weak leader, you won’t like network marketing. But if your leader knows how to build and develop people and teams, you could be successful, earning $5,000 or more per month. A word of caution: read the fine print when you sign up. Make sure you have ample time to quit if you decide the opportunity is not for you.

4. Flea markets.

Do you have stuff in your basement, attic or garage that’s collecting dust? If you do, pack up the SUV or car and kids and go to a flea market. You could make a couple of hundred, even thousands, of dollars, depending on what you’re selling. You’ll want to go to flea markets every weekend or at least every other weekend. Make an event out of it, and show your kids how easy it is to earn money selling their stuff.

5. Investments.

Stocks, bonds, 401(k)s, annuities, etc. are great ways to earn passive income. If you’re not financially savvy, you’ll want to hire a financial advisor who’ll help you choose the right investments for you. You may want to take a couple of finance classes to understand what your advisor is speaking about when he/she recommends an investment strategy. Done right, investments can pay off for years.

6. Real estate.

Do you watch real estate reality shows? Have you dreamed of fixing and flipping houses? What about being a landlord? Believe it or not, real estate is a good way to earn extra income. Real estate investing includes fixing and flipping houses. This requires capital in the form of cash and/or credit. If you can partner with someone, do it. You’ll attend housing auctions and bid on houses; you can get them for a good price. Hire a contractor to fix up the inside and outside (could cost anywhere from $10,000 and up), have the house appraised, sell it, make a profit and split the profits between you and your partner(s). Of course, you could buy properties (e.g., houses and apartment buildings), and become a landlord. Another alternative is to become a real estate agent. Speak with seasoned investors and realtors to find out if this passive income strategy is right for you.

7. Royalties.

Earn royalties from writing books, songs or developing products. You can even buy someone else’s share of a song via a writer’s auction. For example, if a songwriter dies, his/her heirs have the right to auction off a percentage of their songs during an estate sale. You bid on a song, and if it’s accepted, you own a piece of it and receive a royalty check each month, which can be deposited into your savings or checking account or a special savings account like a financial freedom account.

8. Participate in surveys and paid focus groups.

Get paid to take surveys at home by signing up with one or more survey websites. All you do is answer questions and voilà, you get paid. Another way to earn extra income is to participate in focus groups. Companies hire focus groups as a way to test out a new product before it hits the market. Why? Because they need to make sure it will make money; they want a high return on their investment. Surveys and focus groups may not make you a millionaire overnight, but you can earn hundreds of dollars each month by giving your opinion on products and services.

Passive income is a good way to get onto the road to financial freedom. Some money making avenues require more work than others, but the return on your time and minimal investment can pay off for years to come. You can have a secure financial future for you and/or you and your family.

Source:

http://www.huffingtonpost.com/amandah-blackwell/top-8-ways-to-create-passive-income_b_4654371.html