Passive income: what options really work - ForumDaily
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Passive income: what options really work

Nowadays, thanks to technology, you can make good money. Passive income becomes especially attractive when, having done a job once, you can receive money for months or even years.

Photo: Shutterstock

The idea is tempting, but unlike a standard job, often at the very beginning you need to work hard, and there is no guarantee of payment and its constancy. Investigating Passive Income, Journalist Go Banking Rates ended up trying seven different options to see which one works best for him. Hopefully they help generate some passive income ideas for you.

Further the text goes from the first person.

1. Dividends

This was my first investment. I invested $500 in Ameren (local utility company); at the time they were paying a 3% dividend.

This brought me about $3,75 every three months. While $3,75 isn't life-changing, I was thrilled because it was my first experience making passive money—and I loved it.

2. Own blog

Now, to be clear, income from blogging is not necessarily passive. The method I chose - creating my blog - after two years not only turned into my full-time job, but also allowed me to take a break every month without seeing a significant change in my earnings.

One of my favorite things about blogging is that I have articles that I wrote six or seven years ago that still make me money every month.

3. Write for HubPages

It's similar to blogging, but a little simpler. HubPages is a site that allows you to write an article on any topic and publish it. You then share the ad revenue with them. To date, I have written about 100 articles for this site and earn about $200 per month.

Advice for professionals: If you follow this path, focus on what people are looking for in Google, having previously studied the keywords.

4. Kindle books

I often say that I accidentally wrote my first book. In fact, it was a long blog post, which I whimsically decided to turn into Kindle Books. And I'm so glad I did it. Many years later, he still brings me about 100 dollars a month.

5. YouTube music

We all know how difficult it is these days to make money as a musician. Several years ago I recorded some songs and posted them on YouTube. I had no idea what was going to happen, and to be honest, almost nothing happened in the first couple of years. We had a few people listening here and there, but we earned almost nothing.

However, over time, the traffic on the video grew, and revenues followed suit. At this stage, I earn about 30-50 dollars per month on these videos.

6. Photos for sale

Perhaps this was the biggest failure of all. I took my DSLR and spent a lot of time to take about 400 photographs of various objects. Out of 400 I chose 40 of the best and sent them to various photobanks for sale.

Of these 40, they took only five. We can earn 50 cents every month from these applications.

Honestly, I'm not a professional photographer, and someone with better skills could do better.

7. Real estate investment

I invested in real estate with Fundrise. Fundrise, if you don't know, is a simple, low-cost real estate investment platform.

In my case, Fundrise was not only more passive, but my income was higher.

You may notice that some forms of passive income have proven to be better and some are complete failures. The main challenge now is to start trying. When you put your ideas to the test, you will find that not all of them are successful, and that's okay. Just keep trying until you find the one that works best for you.

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