Passive Income streams, a great way to generate some extra resources to live a better life and to support us in any of the unavoidable circumstances when something unusual happens like losing our mainstream source of income. Now, most of you would drop in with a query, Tell me some passive income ideas, or passive income streams, passive income investments, and finally what are the passive income sources?
So, fasten your seat belts because we are now driving into the world where people recreate the opportunities to boom their bank accounts with lot of money!
If we go with the passive income definition, most of us get confused with the term freelancing. So, let me clear you that, Freelancing is associated with active income, freelancers are mostly paid for number of hours they worked, or they are paid on the basis of the contract they sign for developing a particular product.
So, passive income investment would surely help you to grow big.
Which Passive Income Ideas is Best for You?
Personally, I feel we should develop a passive income resource to “Follow our own passion, to follow something we love to do and wanted to do in our life.” I simply feel life is autonomous, 90% of humans prefer a secure career option over a career which he/she is passionate about. So, now let us trying to do something which is acquainting for us, and we can do it even at the time we have no energy left to do that task.
Potentially, if you would do something you love you would sooner or later grow big in life or even if you won’t, you would be happy to do what you always wanted to do.
Best Passive Income Streams and Passive Income Ideas
Let me brief out some passive income opportunities for you. So in case if you have interest in the mentioned field, it would be easy to get things for you. There are certain passive income strategies, passive income opportunities, passive income sources or passive income types we are still unaware off. So, this time we are inclining to define specific passive income sources that is yet another big thing to come up:
I Passive Income Streams for Humorous Mind
1. Vine creator
Vines are in trend now days, the engagement of the vine is quite high. The audience is preferring short, unique and entertaining content which could leave an impact on there mindset. So, if you have a good humor, you are good to go. Act out, and make the world laugh !!
2. Stand-up comedian
Stand up comedian are the humorous person, which help us to resonate the happy atmosphere. They are basically responsible to create the humorous or comedy content and organize live shows at various cities like Delhi, Mumbai, Bangalore, Kanpur and many other such places. Stress over the mind and anatomical pressure has been so high that we need some humorous content to introspect the calmness and happiness in our mind and life respectively.
II Passive Income Streams for Technology Geek
1. Technology reviewer
If you are a techie guy, and tech influences you can go and learn about the tech you are most interested in and finally shoot a video related to that and help people in exploring that particular technology. You could explore mobile, hardware, software, network and various developed technology products that could help audience to innovate and grow.
If you are a coder, you can innovate and introspect various programming languages such as C++, Java, Java script, Python, Angular, Kotlin, HTML, CSS or develop tutorials and blogs related to technology or some topics such as Data Science, Machine Learning, Web Development, Security and much more.
3. Teaching and Counselling
As a teacher, you can develop a tutorial which would be best suitable for your profession. As in the Covid-19 Pandemic the education has been online. Students are referring out to YT Tutorials, paid courses to skill up themselves in their domain. So, as a teacher you can develop a course and help your students to develop themselves.
III Passive Income Ideas for Regular Buyers or Shop Owners
1. Product review
If you are working on a particular product in your mainstream or you are frequently purchasing the entities from e-commerce stores such as Amazon, Flipkart etc. You can share your feedback about that particular product by creating a YouTube video or writing a blog on it. Moreover, you can even do affiliate marketing while creating such content for your audience.
2. Reaction video
You can create reaction video for particular vine or on a particular product. You can basically create a video while reacting some sought of a roasting video, a trailer of any movie, some song and many other such videos to show your review towards a particular content. This is a symbiotic approach which people are loving currently. To make your reaction videos all you need is a quiet space, a high-quality camera, tripod, microphone, and headphones.
IV Passive Income Ideas for Writers
1. Motivational speaker
If you are quite enticing in developing a content that could ignite the flames in human. You are good to go. Being a motivational speaker, you can share your life experience, tragedy in your life, certain moments that motivates you. You can resonate the inspiring life stories of successful people who were once unsuccessful. Being a motivational speaker, you are doing a great work when you are influencing someone’s life.
2. A poet or a storyteller
A poet is one who scripts down some stories, or pen down emotions and narrate in front of the people. They are good visualizers as they could visualize a particular situation to the very deep and could develop a story which could entice the audience attention in an effective way.
V Passive Income Streams for Someone with Good Communication Skills
1. Voice over artist
Voice over artist are the people who give background voices to particular cartoon shows, games, documentaries, corporate videos, e-books, or even films. They are skilled people who are responsible to convert the text over voice.
Vloggers are the people who share their daily experience with the audience. They share their daily lifestyle with their people. They connect so well with the people that their followers feel that they are a part of their life. So, if you incorporate such a skill set of connecting with an audience you are good to start a vlogger.
VI Passive Income Streams for Innovators
1. Digital marketing
A Digital Marketing company is a backbone of the industry. Being a digital Marketing expert, you are responsible to promote the particular product among a right set of audience. It is one of the highest passive income source. Expert earn more than $1,00,000 monthly. Want to know more, about it ? Click here.
2. Content strategist or Content developer
Content Strategist helps a particular company to plan out the set of operations they perform to make their product a global success. A content developer or a strategist task includes to:
- Research the competition before launching a particular product
- Gathering information that could boost the idea
- Preparing content strategy before future
- Proofreading about the product before launching
There are many such task, they are responsible to turn our vision into a reality.
VII Passive Income Ideas for Readers
1. Write a book
If you are a amid reader, you can write a book on your topic of interest and get it published. Depending upon your background you can compose a book or novella on fiction, education, motivation or anything that could bring an impact in an audience. Who knows, your books get successful ?
There is no harm, in giving it a try !!
2. Write a book review or a course guide
You can write a book review on your favorite books which can help your followers to know the quality of the content. You can even setup your own website or a blog reviewing a book. All you need to do is just to give a view point on a book you read. Isn’t that easy? I guess it is.
Moreover, when it comes to write a course guide, you can learn a particular course and write all key factors and important terminology that could help other learners in an effective way. You can sell that to the course owner and make money out of it.
3. Start a blog or your website
You can create a blog and incorporate design thinking to make it unique to stand out in a society. You can work on various micro niche which could help to impact the mindset of the people and bring a change in a society. You can develop your own blog and with lot of continuous efforts sooner or later blogging could be an effective permanent source of income.
VIII Passive Income Streams for a Student
1. Tourist guide
If you live in a metropolitan city, where lot of tourist visits. You can work as a tourist guide at your place and you can earn a good money by guiding tourist. You even get a chance to improve communication skills and learn different languages by communicating with them. Pack up your essential tourist kit and give it a try!
2. Virtual assistant
One can start working as a virtual assistant in the particular company. Being, a virtual assistant you need to manage the organize phone calls and mails, schedule meetings, write MOM of the meeting, prepare agenda of the meeting, organize important information in the mail. In simple term all you need to enact as a heart to an organization and in return you are really paid good for that. You can try freelancing sites to acquire such jobs.
3. Data entry expert
Data entry expert are responsible for penning down paper information into electronic data system. Data entry specialist take information such as bills, reports, active users, inactive users, and many such information and enter into an electronic data system for analysis and use for future purposes.
4. Content writer
As a Content Writer, you can work with a particular startup helping to organize their content in a smart and an efficient way. You can write blogs, website content, social media content to support them in the best possible ways. Moreover, this could even help you to build great connections with the people.
Photography is one of the best career option or one of the best sources of passive income. In current dynamics, personal branding matters a lot. There are millions of actor who want to pursue modelling career, so good picture is all they want. Photography career is in a boom and would rise exponentially with time. One can even click and sell your clicked photos at sites such as 500px, Shutterstock, iStock, and Adobe Stock.
Quick Note: Millions in the pocket could let us buy a better lifestyle but not a healthy one. Here’s some of the steps to achieve a healthy lifestyle along with earning millions.
IX Passive Income Ideas for Business Person or Job Professionals
1. Investment in real estate
Real Estate means investing down in a property or some land. Real estate has been a great boom in the recent times. So, you could invest with your friends down the line in real estate by a particular place and rent it out. This could help you to gain profits and eventually help one to grow exponentially.
2. Investment in stock market
Stock Market is the aggregation of buyers and sellers of stocks (shares) which recognize your ownership over a particular business. You can invest your income into mutual funds or shares of the company. Understanding share market is in itself a game. So, understand it, learn about it, and get into it to make your money big and let your money work for you.
3. Purchasing royalties
You can purchase commodities such as gold or silver or any profitable resource that could in future give you high returns.
4. Buying an established business
You can even invest in a particular business or buy a well-established business that you feel in return could give you high returns. You can purchase a business online here.
X Passive Income Ideas from Renting Your Products
1. Rent the extra space in your house
Suppose, you own a great house and you have a lot of space in it. You could rent it out the people to stay. That is one of the most profitable niche. Suppose, you live in a place where there are lot of coaching centers you could turn your place into a hostel for students to stay. That is how it works. You could use your vision in the best possible ways to create a change.
2. Turn your extra space into a restaurant
Suppose, you live in a lavish society where people love to dine out. You could rent out your place to a restaurant owner or turn out your terrace into an open-restaurant, you could make a lot of money out it. Moreover, you could enjoy being a part of such a place.
3. Turn your extra space into parking space
You get out of your house, and you see many cars and bikes standing on a road creating a lot nuisance. You have a lot of open place; you could turn that into a parking lot charging basic equities from the person and just make a profit out of it.
4. Turn your extra space for event like poetry shows and standup comedy events
Teenagers today love to watch poetry and standup comedy event. You could design your place into a section that could help artist to rent out and perform an event or you could start your own company providing platform for artist to speak up. You can charge a feasible rate from the artist and start a YT Channel to explore that content out in the crowd.
XI Passive Income Ideas for Developers
1. Alexa skill developer
After you publish a skill, your skill is monetized by Amazon so that you can earn from your skill based on user engagement.
Moreover, as a developer you could even earn an income as a web developer, graphic designer but that is not a passive income source that is a main stream source of income.
XII Passive Income Ideas for Volunteers
1. Social media influencer
Social Media Platform is one of the most dynamic platforms which could create an impact on the society as half of the population all around the world. A social media influencer is the person who is endorsed with a particular brand do professional posting sharing about particular brands. The only con in this profession is, You itself need to be a brand, to sell a brand. So, you could be a Health & Fitness influencer, Educational influencer, Social Activist, Human Activist, Animal Activist, work with an NGO and many such influencing job. So, while working in such roles, you could attain lot of love and generosity from people in return. It is one of my favorite work, I try to do in my free time as doing something good for the society is always great
YouTube is a dynamic platform, where you can enact out to create the content that could be engaging for your audience. Create a YouTube video on any topic that you passionately follow and love. Be consistent about the creating and uploading videos on YouTube and you will see the growth.
You never know, when the time would change and when you would lose your mainstream source of income. Passive income could drive innovation that, could help to endorse a scalable approach in our life. We don’t need a large source of income, but we can drive our passion sometimes that could help us to develop a passive income streams.
Let us consider this pandemic situation, we ever thought of it? No, we did not! COVID-19 has been a big blow to the corporate workers as they are the stake of losing their jobs. The companies with niche such as Food, Travelling, Outing are already in big loss as people have a fear when they are travelling or eating for outside places. Many companies suffered loss and many employees are fired, so that is a situation. You never know when what happens in your life, so you could perpetuate some sought of passive income in your life to experience financial freedom.
So, that is all about passive income!
Dhruv Trehan is a writer and a Co-Founder of Drill it Down. He loves to explore new things and write down the facts in an innovative way to create an impact on the minds of user. Here, at drill it down he believes to resolve queries of people with his team.