Digital product sales: paid products that are downloaded and don’t require any shipping.Ad revenue: Mediavine ads that pay out monthly.Affiliate revenue: commissions I generate when readers click one of my affiliate links and purchase a product from a company.The revenue comes in from three passive income streams: Whether you want to make $1000 a day, more, or less, a blog is the most passive type of online business. I’m starting this guide with blogging as a passive income strategy because I believe from experience that it is the #1 way to make passive income. Start a Blog (or Online Business) the Right Way. Making Use Of A High-Yield Savings Accountġ. Here are my top passive income ideas and strategies to try this year. There are also traditional routes to passive income like real estate investment trusts, licensing, and dividends from the stock market. Today, when many think of passive income, they think of digital entrepreneurship: selling digital products, affiliate marketing, online courses, Google AdSense, selling eBooks, etc. The 4-Hour Workweek by Tim Ferriss propelled this idea into the mainstream, and Pat Flynn’s Smart Passive Income elevated it further. In its looser definition, passive income could also be something like affiliate marketing income earned through this blog – while I put in a lot of work upfront, I don’t have to actively do anything anymore to make it. One can also consider apps such as Arrived Homes that helps you get started with real estate investment by allowing you to buy shares of a rental property you like. However, the definition has changed over the years to include money earned online that takes little or no effort to make.įor example, dividends and interest (portfolio income) is considered passive income. Passive income, by definition, is earning money from a partnership, enterprise, or rental property in which you are not actively involved. You can read my affiliate disclosure in my privacy policy. However, these are the best tools to help you gain passive income this year. We’ll also cover the best ways to generate passive income along with ideas and strategies that work this year.Ĭheck out my video on the best passive income ideas:ĭisclaimer: This article includes affiliate links that may provide a small commission to me at no cost to you. In this guide, we’ll cover the three key principles you need to follow (no matter what you’re selling) in order to make money online.
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