One of the easiest ways to gain your economic freedom is to earn a large part of the money you earn without effort. In short, it means getting your income from passive sources of income.
The main idea of passive income is to generate an income stream with little or no effort.
* Patenting any invention or idea
* To obtain a trademark license for the characters or brands you create
* Buying copyrights from books, songs, publications or other original works
* Profit from work during the day for which you have little or no responsibility
* Make money by advertising on your own blog or website
* Making money with interest on your money or stocks
* Retirement pension
* Earning money through commission on the sale of any product or service
Here are passive income sources that you can earn additional income while continuing to work in your normal job:
1- Invest in real estate.
When I read Robert Kiyosaki's book "The Poor Father, Rich Dad", the idea of "passive income" came to my mind first. The fact that it is exactly a real estate book taught me the importance of income generating properties, which led me to real estate. Real estate investment may not always be passive or easy, but it is a very profitable investment. Also, there are hundreds of ways to invest in real estate. For example;
You can sell your home for a higher price than you buy
You can own a house for rent.
You can rent a room in your home. Click to get information about the subject.
Investing in real estate is my favorite way of generating additional income because it moves like a locomotive. It may take some time to act, but when it does, it can progress without much effort.
2- Write a book.
Many people dream of writing a book, but few people do. They make excuses that it is very difficult to write a book, that they are not knowledgeable enough, that they do not have the time, that they are not smart enough, or whatever they find. But the truth is that you can write a book, and this book can be an additional monthly income for you.
There are many ways you can follow while writing a book, and none of them are the "best". For example;
You can write a series of topic-focused short books.
You can publish it yourself on your website and sell it to your customers.
You can partner with a major platform and sell it to their readers.
You can try to get a book out of a large publishing house. (This is probably the hardest way.)
You can record an audio book and publish it on Audible.
Writing a book is not as difficult as it was in the old times, as there are so many ways you can publish today. The keys are no longer in the hands of major publishing houses. The keys are now in your hands.
3- Sell a product online.
You no longer need a store or employees to do wholesale or retail. The Internet has expanded its playing field and now everyone can sell something.
You can make thousands of dollars in profit per month by selling online. You know what's the best part? You don't even have to touch the product you're selling, everything runs automatically.
4- Sell your talents.
You are probably good at something in the business world. Maybe it's accounting, maybe data entry, maybe video production.
No matter what you are good at, there are probably people out there who are willing to pay you to do this part of their work. Small business owners know they need to focus on what they are good at in their job and hire for the rest. This is where you step in to earn additional income by doing the things you love.
You can do consultancy as well as freelance work.
5- Open a blog.
Finally, blogs can be a way to earn additional income. Although it takes some time to gain followers, once you win there are many ways to monetize your blog.
To be successful in making money blogging:
You should focus on the quality of the content.
You must work to spread this content around the world.
The blogging job is definitely not "let me sit at home in my pajamas and make money". It takes effort, quality and time. But besides this, blogging can be very efficient.
The Most Common Way To Earn Passive Income
It seems that the most common way to create a large source of passive income is to work in a business and invest in assets that regularly generate passive income.
For example, the doctor or lawyer in our previous example could use his income to buy shares in a growing company.More Business Posts: Business ideas