Working endlessly in order to earn more and more money can result in a burnout. This is the reason why several millennials are looking beyond the conventional ways of earning money, and are getting inclined towards and even replacing their jobs with Passive Income. This way of earning money gets better returns without the need of investing a lot of time. These ways to earn passive income are absolutely legitimate and can help you in pursuing your passion.
This article consists of 6 such ways to earn passive income continuously, with comparatively lesser work:-
- Invest in Stocks
Investing in stocks can prove to be a decent passive income. Moreover, you do not need a hefty sum in order to begin investing, even a small sum would be sufficient, and many online websites will assist you in this. Making an investment plan is very important, and it should be made keeping in mind the personal goals, as well as returns required.
- Create an online course
The concept of online courses is becoming quite famous among-st the young students, therefore, creating an online course or tutorial can be a credible income source. This will require initial work of formulating the course, and after publication, it can be purchased several times, getting you continuous money. MOOC platforms are great to launch such courses.
- Write a Book
If you have what it takes to write an exceptional book, you must write and publish one, as it is an excellent source of passive income. The initial efforts and market planning will take a considerable amount of time, however, once it gets ready, it will produce considerable residual income. Some percentage of royalty can be earned on every book sold, and you will be receiving an income without being much active.
- Rent Car for Ad Space
Companies put their advertisements on the car windows and pay the car owners for allowing them to do so. An income can be generated every month just by doing this and simply drive the car around. Having huge advertisements wrapped around your car will further get you more money, without practically doing anything.
- Rent a Spare room
If you have a spare room in your house, then you can earn a lot from that. Renting this room for short stays will let you earn without making many efforts. Moreover, nowadays, online portals such as Airbnb are the best option, you will just have to list your room in it, and it will open the path for some easy passive income.
- Peer-to-Peer Lending
This concept has been quite popular lately. In Peer-to-peer lending, a loan is given to another person who is not eligible for the traditional method of financing. Since the investment returns are usually high, investing with such companies will get you a considerably higher passive income. Moreover, several rewards are also given to the members.
Earning a passive income is not too hard of a job, it only requires a bit of cautious planning, and once you get the hang of it, it will become extremely easy. So what are you waiting for? Plan your way and get rich!