The 10 Best Strategies For Easily Generating Passive Income For Life
While generating passive income for life may sound like an impossible hurdle, it is absolutely attainable if you invest your time, and your money wisely. Real Estate, Bitcoin, and owning a small business are all tried and true solutions, however successfully implementing them the first time around is another story. Learn from the entrepreneurs themselves who are already generating passive income for life, and learn how you can start doing the same today.
It’s the least sexy way to earn money with crypto, but probably the smartest. The fact of the matter is that cryptocurrency markets have seen 9large-scale crashes in its history, only to rebound to a new high each and every time. The average crash saw a price drop of 64%, and more than half the crashes went on for 50 days or longer The numbers don’t lie; even though HODL’ing isn’t as fun or sexy as other investment strategies, BTC’s past has shown there is a near 100% chance prices will rebound to a new high after this current bear market ends.
Exchange-owned utility tokens generally pay variations of a divided to an investor, and these include the Bibox token, BNB token, and Kucoin Shares(KCS). Holders use these tokens to pay for reduced trading fees on the exchange itself (if they pay the fee in the exchange-owned utility token, and not with Bitcoin or Ethereum or any other coin). This incentives traders to sell the exchange’s native token on the trading platform, and the fees percentages get scaled down each year the trader is still using exchange and native token. In a way, this is sort of like receiving an annual dividend for using a company’s service.
Equity crowdfunding is different from donor or social crowdfunding sites, like Kickstarter, because the investor is actually taking an ownership interest (or providing a loan) to a company in exchange for some type of financial returns. Private placement opportunities are usually reserved to very high net worth individuals, but using crowdfunding sites, people can put just a few hundred or few thousand dollars in private companies. Crowdfunding platforms allow you to participate in the full life cycle of the investment, including reviewing offering documents, closing the transaction, receiving financial updates and tax documents, all online.
Like any investment, crowdfunding opportunities involve risk, but that risk can be better understood fully reading and understanding the offering documents and reaching out to the sponsor or platform with questions. Crowdfunding provides a streamlined way to set aside some of your portfolio into alternative, tangible assets that produce income paid on a regular basis.
Having a side hustle is important because it gives you control of your future. It allows you the freedom to eventually become financially independent by creating an extra source of income that if saved and invested properly can exponentially speed up the growth of your net worth and eventually allow you to stop trading time for money at your day to day
The right side hustle is one that your soul has a passion for, it is something that cannot be described but once you find your niche and your excitement for it, you will love being fully immersed trying to nurture it and grow it by any means necessary. You will be able to spend, nights, weekends, holidays etc. studying the craft, mastering the techniques to make you a successful person in that industry.
Our biggest tip to help people start their side hustle, hopefully in the easiest manner possible, is to take advantage of what they already have. Many people have access to resources that could allow them to earn passive income. On NXTSTOR for example, which is a marketplace for people to list parts of their home as storage space many are making $0.75 per square foot they list. That means that my basement ( a totally free to use portion of my house) earns roughly $500+ a month. We’ve been featured in Yahoo Finance and US News and World Report as a result of people loving this as a side hustle.
Passive income comes in many varieties. One lesser known source is affiliate websites, capable of generating thousands of dollars per month. There are plenty of different types of affiliate websites floating around online-many of the largest sites in the world leverage affiliate offers. The formula is simple; have a website with content that appears when people search for certain keywords in search engines like Google, click on ads, or see your posts on social media. Site owners can monetize their content by integrating
links to products and services that earn them commissions when readers purchase products or sign up for services.
In my opinion, the strongest argument in favor of affiliate websites is the low number of hours required to maintain them after reaching profitability. That’s to say; once an affiliate website starts ranking well in search engine results pages it often continues to rank well! Resell value isn’t anything like more tangible assets and appreciation isn’t always guaranteed. Affiliate websites aren’t for everyone but, for those looking for strong sources of passive outcome off the beaten path, they can be an option worth considering.
My OT Spot
My OT Spot is an online educational resource for occupational therapy students and practicing occupational therapists, that brings in approximately 30,000 unique visitors per month and features over 100 educational articles related to the field of Occupational Therapy. I created My OT Spot as an authority website two and a half years ago as a way to create passive income so that my husband and I can cut back on our full-time times and spend more traveling. The website currently brings in $1,200-$1,500 a month via ads and e-book sales.
I will be scaling the site up from this September to November to triple the amount of content and add two more e-books. This should triple or quadruple the amount of passive income coming in for next year so my husband and I can travel full time before having children. I believe creating an authority website on a niche that is need of covering (such as an educational space covering a pain point) is a great way to bring in passive income for years after putting in an initial amount of work. If I stepped back from the site, I’m sure that I would still be bringing in the current revenue, as I don’t spend much time at all on marketing currently.
Breyer Home Buyers
Real estate investing is one of the best side incomes that you can create. Buying a property with enough cash flow pays for all of your maintenance, debt, insurance, taxes, and property management. Being able to generate recurring monthly income that covers your living expenses provides you with financial freedom to live your life with more freedom. Freedom to work where you want to (or not at all), give to charitable causes, pay for your kid’s college without excessive debt… Your freedom when you cover your expenses with passive income becomes unlimited.
No doubt one of the top ways to generate passive income on the side is investing in real estate. Many people erroneously believe that real estate investing HAS to take a lot of time, efforts, and money. This is definitely true if you go for fix and flips, real estate wholesaling, etc. However, investing in rental properties, for example, can easily be a part-time job and a source of passive income. By buying and owning a rental property you don’t have to necessarily become a full-time landlord. You can hire a professional property services company which will take care of all aspects of the managing and running of your rental business. While this will cost you some money, the price is totally worth it as it can reduce your involvement in your business to virtually zero.
There are a few reasons which make investing in real estate a top way to generate passive income. One of them is the fact that this is a very low risk investment compared to other investments. A real estate property is a tangible asset, unlike stocks, which means that you cannot just lose everything when investing in it. Appreciation is another important factor. Real estate properties increase in value with an average of 3-4% annually nationwide, and some hot markets offer a much higher rate. so, in addition to making money from passive rental income in the short run, you will also be making money in the long term as a real estate investor once you decide to sell your property for a much higher price than what you bought it for.
Tugush Blockchain Finance
Classical method of a passive income is bank deposits. Lodging money in a bank, you, first of all, ensure own stability – the safety of your money becomes a concern of the bank. This option is the most stable but has a big minus – the interest rate is about 1,5-5 percents. It is possible to receive a higher percentage with the help of P2P-crediting services, which allow individuals to credit business and to gain income from loans. It can make the big profit for the investor considerably estimated by 10%+ of annual interest rates.
Fashionable type of passive income – Investments into startups. This type of investments can be interesting to beginners in world of investment. Also, it can be interesting to those who aims to reduce the terms of investment processes. The level of profitability of this kind of investments is higher, however, risks in this case are higher too. Statistically, from 10 startups only 3-4 can develop and bring the income. This method is extremely risky: it is necessary to carefully approach your choices, but who wants to multiply his money, should take some risks.
Skilled investors prefer to invest in a business. Income in case of such investments in the long-term period isn’t limited. In case of successful business, it is possible to reach monthly profit at the level considerably exceeding 25%+. However, in the case of the wrong approach to an investment, it is possible to lose all invested capital.
Investing in Single-Family Rentals Generates Passive Monthly Income
One of the best ways to generate a reliable source of passive monthly income is by investing in leased single-family rental (SFR) properties. Many financial planners recommend having some exposure to alternative asset classes–such as real estate–to provide increased diversification to their existing investment portfolios. Acquiring SFR homes with attractive cash yields in can provide you with a great way to generate passive monthly income on the side, regardless of your geographic location.
Perhaps surprising to many, the SFR sector as an asset class has delivered similar returns to stocks over the past 25 years, but with half the volatility. The SFR sector has also outperformed bonds from a returns standpoint–by about 150 basis points annually, according to research compiled by Roofstock
Investing in SFR can also be a defensive play, which is timely given the ongoing volatility in the stock market. According to Roofstock, the two asset classes are almost perfectly uncorrelated. As a matter of fact, in 10 of the last 11 bear markets, single-family home prices actually increased, with the most recent downturn from 2007 to 2011 being the one exception. Given these metrics, investors might want to consider stable, cash-flowing properties in highly rated neighborhoods for a combination of attractive monthly income with some growth potential.