Even if each patron only contributes a very small amount each month, it can still be a huge source of income. Take a look at the Patreon page for Kinda Funny, an internet video company. They have over 6,209 patrons which means an average of just $3 a month would be a monthly income of almost $19,000 – plus they get cheerleaders that are always happy to spread the word on their brand.
In expensive cities like San Francisco and New York City, net rental yields can fall as low as 2%. This is a sign that there is a lot of liquidity buying property for property appreciation, and not so much for income generation. This is a riskier proposition than buying property based on rental income. In inexpensive cities, such as those in the Midwest, net rental yields can easily be in the range of 8% – 12%, although appreciation may be slower.
If you want to clear some space out in your house and have a big stack of books you’ve been holding onto for too long, you can make money selling your books and textbooks online. Stores like Half Priced Books and others will give you cents on the dollar for each of your current books while you can check what your book is worth by simply entering the ISBN number on Book Scouter.
If you have experience as a personal assistant, secretary, admin assistant, or something in a similar field, then becoming an online PA may be a great role for you. Many professionals want someone to help organize their business and personal affairs. Jobs could include sending emails, managing financial affairs, booking flights and arranging day-to-day activities. If you are interested in this line of work there are many PA agencies that are crying out for reliable assistants.
Travel blogging is a hard industry to break into. However, the rewards can be worth it, and let’s face it, who doesn’t want to be paid for traveling around the world! There are numerous ways to monetize a travel blog, but affiliate marketing should predominantly be your focus. On your blog, promote hotels, tours, equipment hire services, flights, and anything else travel related. Then take a cut of the proceeds as your audience books their holidays based on your recommendations.
Roofstock – Investing in rental properties is one of those passive income ideas that can be extremely intimidating, especially when it comes to finding tenants. Roofstock lets you buy properties with as little as 20% down that already have tenants living in them. That means you start getting paid from the first day of your investment. You don’t even have to physically visit the properties!
How much you can earn: I personally earned over $650,000 last year from my blogs, but I do this full-time and have put in 5 years of work to build it up to that. If I remember right (it’s been a while!), I earned $35,000 my first full year. We teach people how to replace their full-time income within 24 months in our Project 24 program. We even outline how to do it in our free webinar that you can watch here.
I have been really disappointed with the survey gig. They underestimate the time they take to complete by like a third and often I find myself spending 10 minutes in what seems like a survey only to find out it’s a pre-survey qualifier, where it feels like I’m giving them so much personal information that I ought to be paid, but at the end of it I’m told I don’t qualify but the award like the equivalent of a penny or two to thank you for your time.
You'll also need ecommerce software, fulfillment software, worry about warehousing, customer service and refunds. But that's not all. You'll also need traffic. Think search engine optimization, Facebook ads, and other social media campaigns. It is hard work, especially on your own. You could opt for Amazon's platform, which might be the easier route. But, then again, at the end of the day, this is a serious business, which could produce significant profits. So you're either all in or you're not.
Hello I am 26 and just hit a huge life crisis wall! I had a great job and was let go out of the blue, with little to no money left for bills and other.. I was scheduled to drive home from Florida to Michigan tomorrow with my boyfriend and he has no idea I have only $400 to my name I have no idea what to do or how to get enough money to get me through this trip.. I already have found a new job but I don’t start until we are back in 10 days ! I feel like I am so underwater!
Even if it’s a mundane task like walking dogs, you could start the next (or only) full-service dog walking and grooming service in your town, where dog owners rave over your business and always refer you to others. You can hire other dog walkers as you grow, and turn your side hustle into a sustainable enterprise. You just have to do the work, and do it well.
Even if you have a work at home job that more or less pays the bills, there's a lot to be said for extra cash opportunities. There are many different little “side-gigs” I've had access to over the years that have seriously come in handy for me. I've used them to help pay for Christmas, gas money, extra money for movie and a dinner out, and even just to help make ends meet week to week.
If you have a specific and in-depth expertise, like programming, coaching, or consulting, then having a well written sales page on your own website can be rewarding. I do this with my web design, SEO, Social media, and coaching services. If you want to become a highly-paid freelancer, I highly recommend you first build your own online platform so you can share your professional expertise, knowledge, and life story with the world. Here's how to start your first website in less than 24 Hours.
If you are a creative type, then you could make money online by designing and selling crafty products on Etsy. Etsy sells a range of beautiful and original items from independent suppliers. Categories range from jewelry, clothes, and accessories, to art, collectibles, and vintage. So if you have some stunning crafty creations, Etsy is the perfect platform from which to sell from.
Buy bottled water in bulk at Costco or Sam's Club and sell it for a dollar where there are a ton of people: parks, festivals, concerts, etc. People are crazy for bottled water and this is a little summertime gig that can bring in more money than you'd think on a hot sunny afternoon. Here's a bonus tip: give some of your proceeds to a charity you care about or that you know will resonate with people. In doing so, you're bottled water business isn't all about your profit. You're helping better our world and also provide a thirsty person some water to drink.
There are many freelance options for graphic designers who are looking to make money online. Designing layouts and graphics for promotional material, corporate reports, magazines or book covers, are all tasks that businesses are looking for online freelancers to complete. Due to its flexible nature, graphic design possibilities can range from one-off projects to ongoing work with regular clients.
No one should turn down wind farming’s ultimate passive income for the next 30 or more years … even 60 years when there is a positive cash flow on the sum total of all base payments when computing inflation for the next 60 years based on the previous 60 years, as long as the next era’s energy resource is not perfected (at which time they would not renew the option for the second 30 years).
While some might think that starting a blog is an arduous effort, when you understand the precise steps you need to take, it becomes far easier. It all starts in the decision of choosing a profitable niche and picking the right domain name. From there, you need to build your offers. You can easily sell things like mini-email courses, trainings and ebooks.
In 2017, I ended up deploying roughly $611,000 into stocks and $604,327 into municipal bonds. The stock allocation should boost dividend income by about $12,500 a year, and the municipal-bond portion should boost income by about $18,000 a year after tax ($26,000 pre-tax). Therefore, total passive income gets an about $38,500 lift, which recovers over half of my $60,000 loss from selling the house.
Speaking from our own experience, you can’t be a passive McDonald’s franchisee. Every McDonald’s potential franchisee will need to complete at least thousands of hours of training before he/she would be approved to acquire a franchise and only if he/she has the financial resources to acquire a franchise. It could take years before one would get a single store franchise. Until the franchisee eventually has acquired multiple stores and established his/her own management team, the franchisee would have to put his/her nose to the grindstone and work his/her ass off every day. I won’t call it a passive investment by any stretch of imagination.
19. eBay – Of course you can’t read an article about making money online that doesn’t mention eBay. You can start an eBay store and get serious about it or you can just sell some stuff to declutter your home. Either way, I’ve made my fair share from selling on eBay and it’s still a popular way to earn money. If you decide to start an actual eBay store, you’ll want to find a drop-ship business like Doba that will store and ship items straight to your customers so you don’t have to deal with an inventory.
How To Start A Blog FREE Course: With this free email course, I show you exactly how to create a blog, from the technical side (it’s easy – trust me!) all the way to earning your first income and attracting followers. Each day for seven days, you will receive an email in your inbox that will help you create a successful and profitable blog, all from the very beginning. You can sign up here.
So, I had to do something. While some of these work at home sites (e.g. customer service companies) do require some type of training or experience, the ones that don’t were the way to go. Yes, it’s been a learning experience even for me and it’ll take some time for me to build my website (once I get around to it). But, I had very, very little options from the getgo. I was practically shoved out of the job market and that’s something very few people (especially those in my family) understood.
If you’re looking for inspiration, my friend Michelle Schroeder-Gardner of the website Making Sense of Sense has become the expert on all things affiliate marketing. Michelle earns more than $100,000 per month from her blog and the bulk of her income comes from affiliate sales. Michelle has had so much success with affiliate marketing that she even has her own course called Making Sense of Affiliate Marketing.
If you hook up with a for-hire car parking service (the type hired out for fancy neighborhood parties) you can make some nice cash tips in just a few hours at night and on the weekend, when parties are held. The key here is to do a great job by showing hustle and being super friendly. This was one of the most enjoyable jobs I had during graduate school. Who doesn't like to drive nice cars?
I have 3 VAs. I couldn’t function without them. It doesn’t matter how big or how small a business is, they all need help running their day-to-day administrative tasks. Virtual assistants perform a variety of tasks that a traditional assistant or secretary would normally do, including making travel arrangements, paying bills, or managing expense reimbursements. I use them to upload content, optimize images, brief writers etc.
If you have a background in a specific field, you may find there is a demand for writing industry papers in your area of expertise. For example, there are often adverts for doctors, lawyers, nutritionists, and business experts from particular niches, to write white papers on different subject areas. These are well paid jobs that you will need to stake your reputation on, but that can often be worked on from the comfort of your own home.
Work remotely for a call center. Because many call center jobs are location independent, finding work in this field is an easy way to earn some money from home. Dozens of sites list job openings for call-center representatives, including Freelancer.com and SimplyHired.com. Meanwhile, you should check local job listings for openings and opportunities as well.
Here’s a good example of how lead sales can work in real life: My second website, Life Insurance by Jeff, brings in a ton of traffic from people who are searching the web to find answers to life insurance questions. While I used to have the website set up so I could sell these people life insurance myself, it was a lot of work to process all the different requests and clients. As a result, I started selling the leads I gathered instead.
Ebay is a bellwether. It's been around since nearly the start of the online boom. But, like any other platform, success can seem fleeting if you don't know what you're doing. Selling items on eBay, professionally that is, can be an art form. Getting people interested in your auctions isn't always easy, especially when there's hefty competition and low demand for what you're selling.
The audiobook industry is booming, yet only 5% of books ever get made into audio format. If you’ve got a background in acting, or if people have said you’ve got a voice made for the radio, you can make extra money recording audio versions of independent and popular books. Sites like ACX connect authors with audiobook performers. So, whether you’re an author looking for more ways to sell your book, or an actor/voice actor looking to make some extra income, you can sell your services online.
Monetize a hobby. While some hobbies actually cost money, others can be transformed into a profitable business venture. Ultimately, it depends on what your hobby is and how talented you are. You could turn your love of photography, for example, into a part-time gig taking family portraits and wedding photos or selling prints on Etsy or at arts fairs.
Re-selling web hosting will enable you to make money hosting your own client’s websites. Large hosting companies like HostGator allow you to white label their hosting services. You could start your own hosting business or, if you are a web designer, include hosting into your web design packages. And the best of it is the hosting companies take care of the hosting for you, so all you need to worry about is selling.
18. CraigsList – Some things don’t ship very well. Other things may make you feel uncomfortable to sell to someone across the country. Anytime you’re selling a large item or something you just don’t want to ship, Craigslist is a great place to go. It’s simple to list your item (again, take good pictures!). If you don’t like the idea of putting your phone number out there, the interested individual can send you a message to your inbox without even getting your email address.
26. Services – You can offer a paid service, such as life coaching, blog coaching, goal setting or financial planning. Just be sure to investigate all the legal implications and make sure you’re not claiming to be a professional if you’re not one. With a service like this, you’re basically using your blog to sell yourself. You’ll need to convince people that you’re worth buying and then be able to back up your claims once they purchase your service.
I just found your site & so far I like what I see. I am 50 years old & will be retiring at the end of Jan 2019. I turn 51 the following month. I will have a pension income of $60,000 per year & an additional $5,400 from a survivors benefit. I was able to save $200,000 in a deferred comp program through my employer & wish to know what to do to generate a passive income? I can leave it in the plan which will generate about 3.5% or invest it. My concern is the tax liability of taking out a large sum from that fund & leaving me less to invest. I do have an opportunity to invest in a bar/restaurant with family (my main concern) that currently generates $120,000 annually for an absentee owner. It would be a 3 way partnership if I did that. I do like your idea of creating my own product such a blog with a goal of $12,000 to $18,000 passive income I feel that may be my best option. Any thoughts or advice would be greatly appreciated.
Most companies who hire freelancers want the best and rightly so. You find that ALL of the freelance work requires some specialized skills. If you are not already an expert, you will have to take the time to learn. Earning a living online takes time and commitment. It may take five or ten years to build up your business or expertise. Realistically, you will be working long hours for pennies, but your bills won’t wait for you to get rich, so In the meantime, MacDonalds is hiring!
Are you a professional in a field that can help answer questions for people looking for your expertise? Websites like JustAnswer and LivePerson match you up with people looking for answers to technical or professional questions. You can make money online by simply answering these questions and providing the right information to people based on their individualistic circumstances.
Well written piece, but I question the core premise. Why the fascination with maximizing “income” (passive or otherwise). Shouldn’t the goal simply be to maximize long-term after tax growth of your entire portfolio? If this takes the form of dividend paying stocks, so be it. But what if small caps are poised to outperform? What if you want to take Buffet’s or Bogle’s advice and just buy a broad market index like the S&P 500, (no matter what the dividend because you’ll just have it automatically reinvested to avoid the transaction fees).
Sell baked goods. Working parents might not have the time to whip up a birthday cake or cupcakes for school parties. That’s where you come in if you can create tasty baked goods. A friend of mine who is a single mom started making cupcakes as a way to keep herself occupied while staying with her dad when he was undergoing chemotherapy. She posted a picture of her cupcakes on Facebook and instantly received several orders from friends. Now she makes about $200 a month making cupcakes for others who hear about her through word of mouth or see pictures of her cupcakes on her Facebook page.
I think Drop shipping is the best way that can help you make money online. It is the only way that allows you to start an online business without investing capital in inventory, warehouse and to buy products individually from a wholesaler and ship them directly to your customer. Moreover, with my drop shipping experience, you will learn key strategies that you won’t learn anywhere else to help your online business grow and thrive.