Passive income ideas were a trending topic in 2021 through the waves are dying a bit this year, but the fact has never changed that more people than ever are constantly looking for ways to increase their earnings and enjoy financial independence.
In this article, We will share the top 10 passive income ideas that made waves in 2021 and how you find passive income opportunities in these ideas in 2021. But first, if you are new to the topic, your first question would be, what is passive income?
Passive income simply means residual income, which is money that comes to you over time from work you did in the past or something you do now that doesn’t require much of your time and effort. Passive income is the money you earn from a part-time job. It differs from active income, which is the money you earn from your job - the salary.
The big question people often ask is whether you can live off your passive income. If you work on your passive income streams and build residual income streams, you can get to a point where your passive income can be equal to what you make at your day job. And that’s the goal, build multiple passive income streams so that they eventually equal or exceed what you earn in your day job, at that point you can say you’ve achieved financial independence because then you have control of your time, your money comes in to pay the bills even if you quit your main job and the system works automatically, you just have to manage it.
I guess the question you’re asking now is, is there anything you can do part time that will allow you to earn almost a full-time income? Yes, there is, in fact, there is! Here we go with the top 10 passive income ideas of 2021.
Affiliate Marketing: affiliate marketing offers a fantastic opportunity for people who don’t have their own product to take someone else’s excellent product and promote it, making a profit on every sale they make. This is one of the easiest ways to earn passive income.
E-book publishing: if you have an idea that can solve a specific problem, kindle publishing offers an easy way to put it into book form and publish it. Book publishing has never been easier. Many people wonder if there is a business you can start with no money. Here’s one. Everything is free. If you can write your book, edit it, create an attractive cover and write an excellent description for your book, you can start earning money immediately.
Cryptocurrency: cryptocurrency has gained expert attention in 2021 as a source of residual income creation. There are basically two ways to make money with crypto-currencies. These are trading and mining. The good thing about it is that you can trade on your mobile.
Network Marketing: network marketing or multi-level marketing is one of the oldest businesses in the world, a system where you start at the bottom and work your way to the top. Although multi-level marketing is not a buzzword, large companies use it to bring flagship products to market and individuals use it to reach the top and earn massive passive income.
Freelancing: you’ve probably heard of websites like up work, fiver, elance, etc., where people go to find various types of digital work for them. You too can start earning money immediately if you have any of the skills that these websites require daily, such as article writing, article editing, book cover design, website development.
Blogs: yes, people are still making money from blogs, even though the market seems to be saturated. There are more and more tools that make it easy for anyone to create a blog and promote it. Blogging is a good way to earn passive income, but it’s not the fastest way to create passive income. That being said, it is also important to note that it is one of the surest ways to build a reputation and a sustainable stream of residual income, if you do it right.
E-commerce: it used to be reserved for big businesses, but now anyone can create an e-commerce store and start selling digital products online through WordPress and woocommerce plugins.
Direct shipping: this is selling physical products through established e-commerce platforms like Aliexpress and Amazon. You don’t need to do any hard work, just search for the best-selling products and promote them on your custom ecommerce store that is linked to the main platform and have the product delivered by the company while you reap the profits.
Mobile apps: there are more smartphones than there are human beings on the earth today. And what powers these devices? Mobile applications. If you have an idea that can solve a problem, there is an opportunity for you to earn residual income. All you have to do is come up with the idea and get a programmer on one of the freelance websites mentioned above to create it.
Video Blogs: YouTube is now the second most popular website in the world. If you have a flair for video, this is an opportunity to earn passive income. YouTube, with its AdSense and partner program, allows video content creators to earn money on the platform.
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These are the top 10 passive income ideas that trended in 2021. If you want to earn passive income in 2021, then you can consider one of them as a starting point to build your residual income streams.
