4 High Paying Passive Income Ideas for Beginners (Sample)
Suzanna "The Challenge Queen" Fitzgerald
Professional Content Writer and Marketing Strategist | Specializing in Crafting Your Stories into Irresistible Online Marketing Blueprints
*This is a sample from a?portfolio piece?for Fitz'n'Jammer LLC: Marketing by Listening. This is an experiment I'm working on for my business, so please check out my specific question at the end!
Making more and working less is a hugely attractive idea, but finding the right sorts of passive income ideas for beginners can be tough. Not because it’s hard to get started or find good ideas when you’re a beginner…but because there’s just?so many ideas?for making more money out there!
To answer the last question first, yes, you absolutely have what it takes! No matter what your experience, your income, or your confidence, there’s a way for you to make money passively.
Real quick, let’s get together on the difference between passive and active types of income.
Active income is what you earn by working for it. How much time, energy, and focus you invest is how much you get out of it, whether that’s a job or your own business.
Passive income, on the other hand, is money you earn without the need for constant effort. Initially, it will likely take some time, effort, and perhaps some upfront capital to set up your passive income stream. However, once you set it up, it’s something that makes money long-term. It produces income while you sleep, eat, and work your day job.
And not just for rich people with business degrees, either.
All of the passive income ideas I’ll share in this article have been tested by ordinary people with typical jobs to make anywhere from five to?seven?extra figures per year in their spare time.
How to Identify Goldilocks Passive Income Ideas for Beginners
Not all passive income ideas are created equal. Some of the more advanced ideas are not only overwhelming, they often feel a lot like gambling:
And while the promised rewards are huge, they’re far from guaranteed.
Other passive income ideas are simple, requiring very little of your time or money. These opportunities often have very small, if predictable, returns-on-investment. However, the worst part is the years – maybe even decades – they take to really pay off.?
When trying to decide between the best passive income ideas for beginners, you’re looking for a “Goldilocks” opportunity.
Like Goldilocks in the home of the three bears, you don’t want something that’s:
…They’re just right! Goldilocks passive income ideas for beginners do ask for some investment in money and time; and the rewards can be high and relatively certain.?
Passive Income Idea 1: Create and Sell Information Online
This is arguably the easiest passive income idea for a beginner. You already know something, and even if it feels obvious to you, odds are someone out there also wants to know how to do it.
As a Goldilocks passive income idea this is perfect for a beginner.
You get to decide how much to invest in either your time or money, and with a little bit of luck, the rewards are potentially huge, with some people earning six-figures a year or more.
Find Out the Two Specific Sub-Categories of Selling Information Online in the Full Article...
Passive Income Idea 2: Rent Your Property
If you own a piece of property that’s just sitting there, gathering dust instead of money, one of the easiest long-term passive income ideas for beginners is to rent it out. And the more creative you can get with these “house hacking” ideas, the better:
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Passive Income Idea 3: Create a Money-Making Website
Somewhere in the world someone wants to know if there are any health benefits to drinking coffee. They type “coffee health benefits” into the Google search engine, and right below the ad sites, they find a?promising article.?
While reading the article, ads pop up in the sidebar, and probably in the middle too. Or maybe the site itself recommends a certain type of coffee that’s beneficial to your health.
Congratulations!
You’ve just been on a very successful, six-figure earning money-making website called “Coffee Detective.”
Countless sites cover every conceivable angle of every topic imaginable – food, clothing, politics, homeschooling – and use monetizing strategies like:
Every time a visitor takes an action on one of these sites, the owner makes money. Depending on the strategy it might be a few pennies, or a couple hundred dollars.?
While creating a website can be a great passive income idea for beginners, it is one of the Goldilocks ideas that can be more costly in time. Unlike renting you can’t just set it up and forget it. You’ve got to update it frequently, at least several times a month.
There's an even easier way to get started with passive income for beginners within this idea!
Passive Income Idea 4: Investing for Beginners
Investing can be a scary word, but careful, long-term investment strategies are among the cheapest?passive income ideas?for beginners over time.
You’ll earn anywhere from 2% to 4% (sometimes more) in interest rates, and never really have to fool with it again.?The fastest and easiest way to get started with investing for beginners are listed in the full article.
Choose One of the Best Passive Income Ideas for Beginners
As Warren Buffet?famously said, “If you don’t find a way to make money while you sleep, you will work until you die.”
Passive income is one of the greatest ways to achieve a life of financial freedom.
Using the Goldilocks model, you can choose a passive income idea for beginners that should give you a nice return for a reasonable investment.
Any way you choose to go, these Goldilocks passive income ideas for beginners can set you free from the hand-to-mouth worries of people who only know how to make money actively.
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