Generate Passive Income Online
Ah, passive income. That’s the dream, isn’t it? Having money rolling into your bank account on a regular basis without working for it directly. Passive income streams can add extra security to your life, augment your savings, help prepare for retirement and might even allow you to leave your full time job. Now, all of this might sound very pie in the sky, but there are ways to achieve this that are within reach of most people who are willing to put in the effort and learn something new. Three of the most accessible paths to passive income are blogging, traditional investments and microloan investments.
Earn Passive Income with a Blog
Blogging is not just for stay at home moms in pajamas – a lot of people have been able to quit their normal jobs because of the income generated by their blogs. Being successful with a blog requires an upfront investment of time and work and some routine maintenance, but can ultimately reduce your weekly working hours significantly if you use your time wisely. The key to making passive income with your blog is advertising revenue. If you make a good blog, you can link it to Google’s advertising department, Google AdSense, which will make Google publish ads for different companies on your blog and they will pay you every time a reader clicks on an ad. You will have to learn a few technical things, such as how to setup and design your blog and how to optimize your rankings in search engines so that readers can find you, but blogging is truly accessible to anyone with an internet connection.
Earn Passive Income through Investments
Investing online requires a certain amount of disposable income to get started, but apart from that the amount of work you want to devote to managing your investments is really up to you. There are many different types of investment accounts that you can open and manage entirely online, including the stock market, forex trading and binary options, to name a few. It is extremely important that you not use any money you need for survival (mortgage/rent payment, car payment, etc.) as your investment capital, since these types of investments always carry some risk of loss. But if you have some “play” money, investing it can help you make it work for you and can give you more freedom in how you live your life.
Earn Passive Income as a Lender
You may have received mailers from companies like Lending Club or Prosper offering you low interest rate personal loans, and tossed them aside without a second thought. But did you realize that ordinary people just like you and me are the ones who are funding those personal loans? If you have some cash on hand and want a fairly safe investment, you can invest as a lender at one of these microloan sites. Your money will be used to fund the personal loans of people who apply, and you make money when they pay back the loan with interest. Best of all, the websites screen the applicants for credit worthiness, so you can be confident that you won’t get ripped off by someone who defaults on their loan.