The craziest part of this was I’d wake up in the morning and there would be more money in my bank account, from people who had bought my book overnight. When you think about it, an online store that sells something that’s digital is something that’s open 24 hours a day, 7 days a week, 365 days a year. Using tools, software and systems, you can automate the delivery process so you literally don’t have to do anything to serve that audience. That’s super powerful.
Just like any industry, there is good and not so good. The good part of passive income is that it can lead to multiple streams of revenue. Entrepreneurs understand more income sources means a more stable business and more room to grow. Implementing passive income strategies creates exciting possibilities and opportunities. Passive income sources allow me to have freedom and financial security in my life and business. I can spend my time traveling or writing, knowing that I'm stilling making income.
eBay Store: It’s now easier than ever to run an online eBay store. You can, of course, acquire products to resell on eBay. But you can also create an online store to market products that others are selling on eBay and share in the commissions generated by the sales. Recently I interviewed a family friend who started her own eBay store and now makes five figures from home. Check out the interview here.
Financial capital is a measure of human capital — time productively used, saved and invested by a person net of spending needs and habits. As discussed more fully in April, at or during retirement this financial capital can not only be invested in diversified risky assets but also in guaranteed income from insurance contracts, risk transfer and cash-flow matching hedges and the proper duration-matched risk-free assets. Interestingly, spending accumulated financial capital relieves one from using time productively. In essence, money buys free time. Money buys non-productive time. Do you know how much non-productive time your investor clients plan, or are able, to buy with their financial capital?
Last but not least Blogging, which is close to my heart. It require lot of patience, skills, knowledge and flair for writing to be a successful blogger. Besides basic skills, you need expertise in SEO & SEM to drive traffic on your blog. For successful bloggers, Blogging is full time income source. Though this place is full of copycats but trust me originality pays. Bloggers earn from content writing, affiliate programs, advertisement and through public appearance/consultancy. Organizations have realized the importance of social media impact and blogs are considered to be the best way to drive traffic on website & customer engagement. Infact many organizations have started hiring full time bloggers.
I’ve been into home décor lately and I had to turn to Etsy to find exactly what I wanted. I ended up purchasing digital files of the artwork I wanted printed out! The seller had made a bunch of wall art, digitized, and listed it on Etsy for instant download. There are other popular digital files on Etsy as well such as monthly planners. If you’re into graphic design this could be an amazing passive income idea for you.
No matter what venture you undertake in life, you need a team. I’m a firm believer in team work, even if it is just to bounce ideas off of, or to have someone tell you that you are off track. For many individuals, this person is their spouse, who also brings some income diversity to the table. Just like I mentioned above, if your spouse has income, try to maximize it.
Self-Employed Income: This is a big shot played by you, where every shot is decided and executed by you. Where the success of your work is determined and expressed by your belief and performances. Yes, there are some demerits of the same for suppose you are sick or want a vacation; still you have to run the show and cannot be completely unavailable for a long time from your establishment.
If you happen to own a home, apartment, or office space, you have a great source for generating passive income at your fingertips. Peer-to-peer property rental site Airbnb has made it extremely easy for real estate owners to make extra money by renting out their homes to guests for short durations. If you're uncomfortable with such a model, you can also use sites like NestAway to find tenants for your property without having to deal with brokers.
The collapse of the Soviet Union, which was India's major trading partner, and the Gulf War, which caused a spike in oil prices, resulted in a major balance-of-payments crisis for India, which found itself facing the prospect of defaulting on its loans. India asked for a $1.8 billion bailout loan from the International Monetary Fund (IMF), which in return demanded de-regulation.
Thirst for income is likely to continue with interest rates expected to stay low, keeping government bond yields low for longer and their valuations unattractive. Looking past bonds, the prices of high-dividend shares are historically high, which limits the likelihood that their dividends will rise markedly from here. Striving too high for an income target tends to push your portfolio further out on the risk spectrum.