“My rich dad taught me to focus on passive income and spend my time acquiring the assets that provide passive or long term residual income…passive income from capital gains, dividends, residual income from business, rental income from real estate, and royalties.”
— Robert T. Kiyosaki
Imagine if you could earn money simply by sitting back and doing nothing. Believe it or not, it’s something countless folks do every day. It’s a concept known as passive income investing, and it’s what allows people like you to accumulate wealth without having to lift a finger. Passive income is earnings derived from a rental property, limited partnership, or other enterprise in which a person is not actively involved. As with active income, passive income is usually taxable.
1. License your Images
We all take photographs. You can earn a passive income by Licensing your images and getting royalty fee whenever someone uses it.
As the photographer, you own the rights to your images. You can decide to license specific usage rights to a client that wants to use your photographs through a contract. The license allows the client to use images within the scope of the usage photography license agreement only. Website where you can earn for your images
Websites
Shutter Shock – Shutterstock is an American provider of stock photography, stock footage, stock music, and editing tools. Over 32,02,73,939 royalty-free images with 13,82,561 new stock images added weekly. Use below link to create account and start selling your images – Start making money now http://submit.shutterstock.com?rid=257744320
Adobe Stock is a stock photo service offered by Adobe that is fully integrated into Creative Cloud platform. It provides a seamless workflow for designers, since you can browse, test edit and use professional stock photos in your designs directly in your favorite editing apps.
2. Blogging
A blog is an online journal or informational website displaying information in the reverse chronological order, with the latest posts appearing first. It is a platform where a writer or even a group of writers share their views on an individual subject.
Websites
WordPress – Among the best blog sites, the free version of WordPress is a great place to start blogging. You can get a free blog with basic features. For advanced functionality, you need to opt for one of their paid plans. https://wordpress.com/
WordPress.com allows you to build a website that meets your unique needs. Start a blog, business site, portfolio, online store, or anything else you can imagine. With built‑in optimization and responsive, mobile‑ready themes, there’s no limit to who you can reach with your new website. Create a simple website sell products around the world
Medium – Medium is an online publishing platform developed by Evan Williams and launched in August 2012. It is owned by A Medium Corporation.Medium taps into the brains of the world’s most insightful writers, thinkers, and storytellers to bring you the smartest takes on topics that matter. So whatever your interest, you can always find fresh thinking and unique perspectives. https://medium.com/@YadneshC
Blogger is a blog-publishing service that allows multi-user blogs with time-stamped entries. It was developed by Pyra Labs, which was bought by Google in 2003. The blogs are hosted by Google and generally accessed from a sub-domain of blogspot.com. https://www.blogger.com/about/?r=1-null_user
3. Dividends Stocks
Dividend stocks are companies that pay out regular dividends. Dividend stocks are usually well-established companies with a track record of distributing earnings back to shareholders.
A stock dividend is a dividend payment made in the form of additional shares rather than a cash payout. Companies may decide to distribute this type of dividend to shareholders of record if the company’s availability of liquid cash is in short supply. These distributions are generally acknowledged in the form of fractions paid per existing share, such as if a company issued a stock dividend of 0.05 shares for each single share held by existing shareholders.
Cash dividends are normally paid to shareholders each quarter, or four times per year. However, some companies pay dividends annually (once per year), semi-annually (twice per year), or even monthly (12 times per year). Each company sets its own payout schedule and determines the dividend dates on which the dividends will be made. Some companies will even pay a special (one-time) dividend every so often. These special payouts are separate from the company’s regular payout schedule and are not factored into the stock’s dividend yield.
Top 5 dividend stock
- Macerich – 12.37%
- Macy’s Inc – 8.90%
- Iron Mountain Inc – 7.75%
- Occidental Petroleum Corporation – 7.52%
- Altria Group Inc – 7.19%
4. Publish an E-book
An electronic book , also known as an e-book or eBook, is a book publication made available in digital form, consisting of text, images, or both, readable on the flat-panel display of computers or other electronic devices. Ebook uses either a computer, mobile device, or ebook reader to display long-form texts in book form. Ebooks have multiple digital “pages” that people can navigate through, and are often packaged as a PDF document so they can easily be sent from one user to another.
Websites
Amazon – Self-publish eBooks and paperbacks for free with Kindle Direct Publishing, and reach millions of readers on Amazon. Get to market fast. Publishing takes less than 5 minutes and your book appears on Kindle stores worldwide within 24-48 hours. Make more money. Earn up to 70% royalty on sales to customers in the US, Canada, UK, Germany, India, France, Italy, Spain, Japan, Brazil, Mexico, Australia and more. Enroll in KDP Select and earn more money through Kindle Unlimited and the Kindle Owners’ Lending Library. Keep control. Keep control of your rights and set your own list prices. Make changes to your books at any time. Publish in digital and print. Publish Kindle eBooks and paperbacks for free on KDP. https://kdp.amazon.com/en_US/
5. Creating your own Podcasts
A podcast is an episodic series of digital audio files that a user can download in order to listen. Alternatively, the word “podcast” may refer to the individual component of such a series or to an individual media file.
Podcasting often uses a subscription model, whereby new episodes automatically download via web syndication to a user’s own local computer, mobile application, or portable media player..
Websites
Anchor is the easiest way to make a podcast, ever. It’s the only app that lets you record a high-quality podcast, and distribute it everywhere (including Google Podcasts and Apple Podcasts) – all in one place. No fancy equipment or podcasting experience necessary. https://play.google.com/store/apps/details?id=fm.anchor.android&hl=en_IN
Google Podcasts is a podcast player for Android users, where they can discover and listen to the world’s podcasts. You can subscribe to any podcast for free and download episodes for offline playback. All your listening is automatically synced across devices so that you can pause on one device and resume on another with the Google Assistant.
6. Rent Devices
Everyone loves earning extra cash. Launching a side project or business can be lucrative, but it can also be a lot of work. There are ways to make passive income without investing any money, and renting out your things is an excellent way to do just that. The idea is simple – you have stuff other people need, and they are willing to borrow it from you for cash
Websites
Rent-A-Center is a rent-to-own industry leader with a mission to improve the quality of life for our customers. Rent furniture, electronics, appliances, computers & smartphones from Rent-A-Center. https://www.rentacenter.com/
RentoMojo – Say goodbye to all the hassles of furnishing your home or spending thousands on owning the latest smartphone. Get your home/office furnished with furniture and appliances in just 24-72 hours or upgrade to the latest gadget in town.
7. Peer to Peer Lending
Peer-to-peer (P2P) lending enables individuals to obtain loans directly from other individuals, cutting out the financial institution as the middleman. Websites that facilitate peer-to-peer lending have greatly increased its adoption as an alternative method of financing.
P2P lending websites connect borrowers directly to investors. The site sets the rates and the terms and enables the transaction. Most sites have a wide range of interest rates based on the creditworthiness of the applicant.
Upstart is an online lending marketplace that provides personal loans using non-traditional variables, such as education and employment, to predict creditworthiness.
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