35 Ways to Make Passive Income Now

What Is Passive Income?

Passive income is defined as income that requires minimal effort to earn. It is a form of income that builds you wealth even when you’re not working.

How Does Passive Income Work?

Since you’re busy living your life, you want to build a passive income stream that eventually works while you sleep, play, socialize…whatever you want to be doing with your time.

Truly Passive Income Ideas + More Semi-passive Income Ideas

These truly passive income ideas require a one-time investment followed by zero future effort. There’s no upkeep, fuss, or muss, and these are some of the most straightforward passive income sources to implement.

1. Alternative Assets

Alternative assets, or alternative investments, are often headline news. Because traditional investments like stocks and real estate sometimes involve a lot of market volatility, and savings accounts only offer low-interest rates, people are looking for other options.

2. Passive Real Estate Investing

Talk to any landlord, and they’ll tell you that “passive” is the last word they’d ever use to describe the rental property management. However, many companies give you the ability to invest in commercial and residential real estate projects without being involved in the day-to-day management.

3. Earn Cash Back

if you shop with Cashback Credit Cards or Cash Back Rewards Cards, you get a rebate applied to your credit card bill. So if you’re spending money anyway, you might as well get some cash back for it.

4. Open a High-interest Savings Account

Keeping your savings in a high-yield savings account is clutch. The best high-interest banks are online-only, so you won’t need to mess with going into the bank to get started. And some pay as much as 0.70% interest per year.

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