Extreme Need for Passive Income Ideas for Individuals
Passive income ideas are the need of the hour today for individuals to make money online or offline.
Whether it is corona virus in the past or inflation or recession in today’s time, all common and special people have become upset. There is danger of losing the job.
Source : https://www.theguardian.com/
In such a context, the importance of passive income has increased even more especially for a class whose age is 40 plus as they have limited earning opportunities.
To overcome this crisis they have only two options – either they learn to invest the money deposited so far in fixed assets like land and real estate or they learn many other ideas of passive income with little money since it is possible that they can no longer invest because of increased responsibilities.
Now, the need is for us to be able to move forward with each other with new passive income ideas. However, this need has always been there. Well…
…I don’t know when you heard about passive income, but I was too late to know it. Although, I have seen some people around me from childhood adopting it unknowingly. But his methods were traditional then. They were not systematic… unaware of passive income ideas!
Let us know today the passive income ideas which are specially dedicated to you, whose age is 40-45 years and who cannot invest further.
Income Sources
There are only two ways to generate income – active income and passive income.
What is active income?
As you know when you wake up in the morning and go on duty. Work there. In exchange for the work done, you are paid either at the end of every month or every day. Which is called your salary or wages.
Here, you all know that if you do not go on your duty someday, you do not get money in return. Or your earned leave is deducted. This is an income where you have to be present with the body in time. You have to do your work.
If you get sick, or because of other necessary work, you cannot go to work, then you do not get money. That is, you get salary only when you are active. This is a traditional and good way to earn money.
But in many circumstances, for example, in today’s perspective or on normal days due to increased food, lodging and travel expenses, you find that this active earning is not enough to meet your need.
The truth is that you can never get financial freedom from this income.
If your active income is capable of giving you financial freedom, then it means that you are paying a huge price for it. You can get it by leaving your motherland or going abroad or you have to leave your ancestral home, leave your parents and settle elsewhere.
I don’t think we can ever live the life we want to live with active income. Remember that you have already spent almost 25 years of your life before generating active income.
Idea for Passive Income!
Now come about Passive income. If you put your time, energy and resources, or all three, behind a task at once. And if you continue to earn a lifetime from that work, then it will be called passive income.
As if you are reading this blog right now. No doubt, it has taken a lot of my energy and time and money too. If I made this blog for a company, I would get one time money and the talk would be over. That is active income!
But when I have created this blog for myself, whenever my reader will read it, I will continue to get money through related ads, links displayed here.
This is the power of passive income, where your physical presence is not required after some while.
People often misunderstand passive income. Generating passive income is not an easy task. Initially, passive income streams require proper investment, time, hard work and a continuous endeavor. After some time you find that the creation of these income streams has started and now it has started to flourish.
Trust me!
You don’t have to put more effort on your part to maintain that income later. But you keep earning continuously. It all depends on your passive income ideas and hard work. I believe that no matter what passive income ideas you implement. You have to spend your money or time or both for it.
Here, I have tried to categorize these passive income ideas into two parts. One idea to earn money online and the other to make money offline as per our social structure.
Some of these passive income ideas require very little money, but require more time. Some require more money and less time. So most of these should be started from a young age. Which will prove to be very practical and beneficial.
Let us discuss these passive income ideas one by one.
Best Passive Income Ideas to Make Money Online
To generate this type of passive income you must have some basic things. The main ones are – a laptop or computer, mobile, internet connection, bank-checkbook or debit card or credit card, PAN card or Aadhar card (in India), etc.
My suggestions – must learn before you start.
Securities Related
1. Stock Market
The stock market is the most beautiful source of passive income. It is a business that does not require a company to run nor much money. You can do it wherever you want, whenever you want.
Just need to learn it well once.
In stock market you can make passive money mainly by investments. In today’s internet era, it has become very easy to learn and do it. So, you first need to learn. If you come to the stock market after study, after learning, then in reality, no other passive income ideas to make money can be better than this.
Find out how to get started in the stock market. In the beginning, you should do it with investment and with little money saved. Never invest money taken on loan. Learn how to analyze a company’s balance sheet as well as fundamental analysis of stocks before investing. Learn all the basics related.
SubhMantra is a completely dedicated blog for the stock market which is slowly taking its shape. This will enable you to fulfill your dreams related to the stock market.
2. Dividend Stocks
Dividend stocks can also be a good and successful way of passive income, provided you have a good knowledge about dividends and high dividend paying stocks.
Dividend shares are those stocks in which investors can receive additional income in the form of dividends in addition to capital appreciation. Since it is a part of the stock market. So along with the stock market, you will also know this.
You should read this post high dividend paying stocks at least once to know more about dividend stocks.
3. Mutual Funds
A mutual fund is a great passive income idea. Where the fund manager invests your money instead of you. If you are a newbie or you do not get proper time to make passive income in the stock market, then mutual fund is the best option for you.
You can get a good read about mutual fund by this post What is Mutual Fund? Craving for Best Mutual Fund Investing .
4. Bonds and ETFs
Bonds and ETFs are also good examples of passive income ideas. These are less risky.
A bond is a loan investment certificate or letter of credit issued to investors by the government or corporate house of a country. These are issued to raise capital or borrow money from the market. Investors are paid interest for their money after a certain period of time.
The ETFs, i.e. exchange traded fund is also a popular means of investment. These are bought and sold on the exchanges just like shares.
You can invest in 30 shares of Sensex or fifty shares of Nifty simultaneously through Index ETFs. Which diversifies your portfolio. Gold ETF is also a great means of investing in gold.
Digital Marketing Related
5. Start Your Business with Google
I don’t think, till date, anyone else would have offered a better way to do business online and make a passive income for the common man given by Google.
There are many ways you can do business with Google. But two main ways are – By AdSense and AdMob.
I have discussed in blogging section above to make passive income through AdSense. If you place ads approved by AdSense on a blog or website or on your YouTube channel. So you are doing passive income while sleeping. Another way is by creating a mobile app and get it monetized with AdMob.
Let me tell you these things separately now. Since there you can earn from many sources other than Google.
6. Blogging
Blogging is one of the most effective passive income ideas. Through this, tremendous passive money can be earned. It requires a lot of hard work and time as well as your patience. You can start a blog initially with very little money. Also, you can start your blog on BlogSpot for absolutely free.
Blogging is a process of creating and publishing a blog. Whereas a blogger is one who creates a blog.
A blog is a discussion or informational website published on the World Wide Web consisting of discrete, often informal diary-style text entries. Posts are typically displayed in reverse chronological order, so that the most recent post appears first, at the top of the web page.
source: Wikipedia
If you are fond of writing on a topic of your expertise. Then it will provide a great opportunity for you. Here, the topic is called the niche on which you write posts and publish in your blog.
To create a blog you have to adopt some routine steps, which I am going to describe concisely. If you want me to describe it in detail, please write it in the comment box. These steps are –
- buying a domain (name of your website ) from Godaddy, Bigrock, Namecheap, etc. For example, www.subhblogging.com is a domain name. Its price range is around $1 – $10.
- buying a hosting for your domain – Hosting companies are often a bit expensive. Therefore, often bloggers, especially those who are new, want to buy cheaper. You should avoid it. Good web hosting has many advantages. I personally like Bluehost a lot. Which also prepares the dashboard of WordPress for you with a control panel in a single click. Its price starts at around $3/month.
- buying a good theme for your blog- Generatepress is my favorite theme.
- Uploading or buying some useful plugins to fulfill some specific requirements for your blog. You should note some plugins are free to use but some are paid version. Elementor pro is one of the best page builder which provides you a lot of templates to build header, navigation menu, footer, content writing pages, etc. WP rocket is another plugin which gives a high speed to your blog.
- Now, you can write a post and publish it for the world.
When a lot of traffic starts visiting to your blog through your high value content writing. Then you earn passive money by providing advertisements, affiliate links, product and/or service marketing, etc.
7. Creating Your Own YouTube Channels
All are born uniquely in this world. Everyone has different talents. You can create your own channel according to your talent by making videos and uploading it to YouTube. Creating a channel on YouTube is very easy and interesting. It is absolutely free.
Later you can get your channel monetize by AdSense after fulfilling some necessary conditions of YouTube. You can share affiliate links here, sell or promote your products or services, start tutorials and many more jobs. These are some excellent passive income ideas.
8. Creating an Mobile APP
Building a mobile app is no easy task. But what could be better if you can make it!
You can build and sell it to another person, institution or company as an app developer. Or by creating a useful app related to any field, you can create a lot of passive income by uploading it on Google Play Store or Apple App Store.
For this you can encourage children from the beginning. They may find it very easy to make it through the programming done in school. And they also have a lot of opportunity to learn. You use Android Studio to develop android apps.
Nowadays game application is very popular.
9. Publishing an E-book
Writing on any topic and publishing it as an E-book proves to be a good source to generate passive income. Your ability to write makes you successful here. Also you do not need to spend as much money. You can publish the e-book by going to Amazon’s Kindle Direct Publishing or elsewhere.
Here, also you do not get instant success. But when you write, edit, cover and finally publish on trending topics like online marketing, business, stock market or similar personality development.
Then, when someone buys and downloads your ebook, you get the author’s royalty.
10. Creating an Online Course
You have limited students for traditional teaching (tuition). But when you start this work as an online course, then you have more space there.
Udemy and Unacademy are great platforms to create online course and generate passive money. You only need to specialize in any one subject.
11. Selling Design and Artwork or Photos Online
You are not necessarily a graphic designer to sell design and artwork. If you are a skilled artist, you can make passive income in lieu of your artwork.
Yes ! Website companies like Etsy, zazzle, The souled store, etc. also provide great opportunities for design related to your T-shirt ‘cup, poster, phone cover, etc. Where you can sell it easily.
Online photos are also in great demand nowadays. A lot of companies, websites or blogs require these photos for different purposes. That is why earning passive income by selling photos can also be a good idea.
If you are fond of clicking photos, then you can increase your business by contacting these photo websites like Shutterstock, and Dreamstime, etc.
12. Affiliate Marketing
Affiliate Marketing is in full swing these days. Often all eCommerce and other companies like amazon, flipkart, ebay etc. allow to affiliate.
In it you share an affiliate link of any company on your website, blog or YouTube and inspire others to buy related products through that link. You get a commission on every sale.
This is excellent but you should never break your visitor’s trust. Always provide correct information about all aspects of the product. For this you have to try and learn a lot.
Best Passive Income Ideas to Make Money Offline
These passive income ideas are traditional, which have always been considered right. These ideas may differ from one country to another according to their economic conditions and practices.
Little money related
13. By Fixed Deposit or Recurring Deposit
Passive income can also be earned by depositing money in a bank or post office as a fixed deposit or recurring deposit. You make a small deposit every month in a recurring deposit.
And whenever you have something big like 50,000 or 1 lakh rupees, you deposit it in the bank as a fixed deposit. These deposits are made for a fixed time period. You get interest every year at the declared interest rate as per the plan.
By the way, this does not sound very beneficial. But if you make it your habit, then gradually it is possible that you start earning passive income equal to your salary.
More Money Related
14. Rent out your property
Renting your property is a good passive income idea. But this is only true if you already have ancestral property or have purchased it without any debt. This property can be land or vacant house, rooms, flats, gold ornaments, cars etc.
Many also give loans on interest to the people around them. I don’t consider it a good way because it devalues humanity.
15. Investing in Fixed Assets (Land and Real Estate)
Investing in fixed assets is one of the best passive income ideas. It has great potential to give returns in the form of passive income.
You can invest in land or real estate as fixed assets. In this, you need to do a little smart work. You have to search for a place where there is more possibility of development. Then over time your investment will increase rapidly.
After the asset price increases, you can sell it and reinvest where there is a possibility of an increase again.
But it requires a lot of money. There is a lack of liquidity in it. You can’t sell it when you want. Some people do not consider it a good passive income source due to these disadvantages.
Conclusion
There can be all kinds of passive income ideas that you start to understand yourself after a time. But one thing is certain that it is not easy to earn money. You have to pay for it. Whether it is in the form of money or time or your physical hard work or the knowledge you have acquired or the risk you have taken.
But remember one thing that the hard work done in the right direction never goes waste!
Passive income is also one of that right direction. Choose 2 to 3 passive income ideas from the ideas mentioned above that suit you. Then start working on it.
Will surely succeed.
Looking forward to your comments.
