With costs rising all around us, it’s never been a better time to look for additional sources of income. Fortunately, you can find secure ways to make passive income with relatively little work.
Using Investment Robo-Advisors
First, let’s get investments out of the way. Investing isn’t everyone’s cup of tea. But there are many misconceptions. One is that you need a ton of money to do it. Which is untrue. Rather than waiting to win the lottery or a legal case, you can try investment Robo-advisors like the DiversyFund lawsuit beater. Companies like this are experts in placing your money into assets they know will work over a long period, such as real estate investment trusts. You might not live the life of a Wall Street investor. But you can secure a retirement fund with as little as $500.
Building a Blog with Affiliate Links
Blogging is everywhere these days. And it’s easier than ever to start. You don’t need fancy programming skills or even writing talents. Many of the best blogs are simple and written from the heart by honest people. Of course, there is some initial work in setting up a blog, and you must create content often. However, you can begin for free and use numerous techniques to make passive income. One of the best ways is with affiliate links. These are links to products. And when someone buys a product through your unique ID, you get paid a small percentage.
Secure Ways to Make Passive Income Include Sales
Of course, selling stuff is a tried and tested way to earn money. But rather than flouting your wares on a street corner, you can sell digital or real items online. For example, you could build an online store offering white label web hosting. White labeling is when you sell someone else’s product as your own. The beauty is that all the work, such as product development, is done for you. Your responsibility lies in marketing. Marketing is a skill in itself, but you can learn it for free, and make a reputable business out of something you can sell over the internet.
Paying Into Low Yield Savings Accounts
Investments aren’t only for people who play the stock market. There are many different types of investments. Some of the simplest that require no work are savings accounts. Money can be deposited into accounts that will grow over time. IRAs and 401(k) plans are two examples. These are great for diversifying your portfolio and require little attention from you. All you have to do is set up recurring payments and ensure that you pay them on time each month. They might not bring in a lot of money. However, they’re great for securing your retirement funds.
Uploading to Stock Photography Sites
Making money from a hobby is the golden standard of income because it’s not considered work. You will get paid for doing something you love. One of the world’s most beloved pastimes is photography, which is enjoyed by people all over the world, with an average age of 38. So while you are still young and passionate, you can make money from your images. Sites like Pixabay and Pexels are excellent starting points. The money you earn is small. But you can upload the same image to multiple sites as long as you don’t have an exclusivity contract with another.
Summary
There are many secure ways to make passive income. Some of the easiest include REIT Robo-advisors, affiliate marketing and uploading photographs to stock image sites.