Passive Income 2021
If you’re looking to supplement your earnings, it’s a very good idea to find a few passive income sources. Passive income doesn’t involve you actively working for every penny. Instead, you just work once or a few times, and then you reap the benefits by selling what you worked on to others (again and again). There are lots of great passive income options out there, and here you have some of the best.
Writing ebooks
Self-publishing is very popular now and anyone can do it. As a result, you can write an e-book yourself and then publish it on Amazon and many other online book retailers. Basically, you just work once and you get paid for every copy sold. It might take some time to write a book, but then again you can earn passive income for years to come.
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The idea here is to start a blog and then you write product reviews to all kinds of items from Amazon or retailers. You enter the affiliate program provided by Amazon or any other supported retailer, receive a link for their products, and add that link to your blog post/review. Every time a person buys something through that link, you get a commission. Yes, you just write a blog once and get paid constantly, each time someone clicks on the link. Your blog can also be monetized via ads or sponsorships, among others.
Dropshipping
Dropshipping involves creating an eCommerce website where you sell all kinds of items you want. The trick is that you need to work closely with a wholesaler. He will handle all the supply and shipping or even storage, you don’t have to do anything. The great thing here is that you can add any markup you want, so you can have items way more expensive when what the wholesaler is charging. And that’s all profit!
Sell online courses
If you have a lot of knowledge in a certain field, it makes a lot of sense to sell online courses. We recommend you to sell online courses because you just record them once and maybe edit them a bit. Once you're done, you get paid every time someone buys the course. It’s a stellar passive income source and one that you want to check out right away.
Start a YouTube or Twitch channel
Twitch and YouTube are a great passive income source since you have a variety of ways to make money. YouTube is free to use for any content creator, and you get paid based on the advertising efficiency of your videos. As your channel grows, you can also get sponsorships and all kinds of other benefits. You also have channel memberships. Twitch is similar, only in that case you have to live stream, and you get paid via donations or subscriptions.
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There are many ways you can get passive income in 2021. These are only a few of the many options you have. You can also become a social media influencer, start a podcast, rent your car, buy bonds, and invest in stocks or even cryptocurrency. It’s important to start with something easier, and then as you earn money, you can re-invest into a more lucrative passive income business!