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17 Passive Income Ideas 2020 That Helps You To Make Money Passively

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Passive income is a kind thing that everybody wants in their life. I mean, who wouldn’t want to make money while his/her sleep. Right?

So what is passive income exactly?

Passive income is an income stream where you put your time, efforts, and money at the beginning to create it, and in the future, it will pay you passively without doing any work or little work.

Here is one thing I noticed that many people have a theory about passive income, and that theory is passive income doesn’t require any work. It just pays you without doing anything.

I want to clarify something about this theory.

According to my perspective, that is 50% true and 50% false.

True because when you have an established passive income stream, then it won’t require any work from you.

False because when you’re in the path of establishing a passive income stream, it requires lots of time, effort, skills, and money.

So now you can better understand what is passive income.

Why you need passive income?

You probably have a 9 to 5 job, and that’s great, it will help you to pay for your essentials. But what about beyond that? Like your dreams, debt, and loans.

Having a passive income stream or multiple passive income streams gives you financial freedom and helps you to build a wealthy life. And it also gives you time to do the things you want to do.

So here are the 17 Passive income ideas 2020 that helps you to make money passively:-

17 Passive income ideas 2021

1. Invest In A REIT

Investing in real estate is one of the ways you can build a passive income for you. So if you are interested but do not want to invest in real estate directly, then here you can consider REIT.

REIT (Real Estate Investment Trust) is a company that owns and manages income-producing real estate.

As an investor, you’ll earn what REIT pays its investors.

There are some REITs platforms like Streitwise and Fundrise, which you can consider for your investments.

2. Dividend Stocks

Companies pay their shareholders quarterly, and your earning potential depends on how many shares you’re holding of that company.

The more shares of stock you’re holding, then the more your earning will be higher.

Investing in dividend stocks could be a great way of earning passive incomes.

For starting with dividend stocks, you need an account on any of the online brokerages like M1 Finance.

3. Rent Your Home

Renting the whole property or just renting a room can be an excellent way to generate passive income every month. If you have any property, apartment, or a room in your house which you’re not using, then you can turn that into a money-making opportunity.

There are several websites like Airbnb, where you can add your room for rent.

4. Renting Your Car

Pretty much similar to renting your home, now you can rent out your car. Let your car make money for you when you’re not using it. If you have a car or more than one car, then you have the opportunity to rent those and make some money passively.

Sites like Turo is a great place to list your car for rent. This site helps you to rent out your car, and when anyone rents your car, it will manage the further activities.

5. Savings Accounts

Investing in savings accounts might be the lowest-earning potential passive income stream. But this is one of the easiest and safest ways of earning passive income.

6. Start A Blog

Blogging is one of the best ways to generate passive income. There are lots of ways to monetize a blog such as Advertising, Affiliate links, Sponsored posts, course, eBooks, etc.

As you might know, blogging isn’t a short term money-making system. It will take time to roll money for you.

Blogging requires some serious time and effort upfront. You’ll be going through building a blog, growing it, writing some useful articles, and building your brand. But at the end of time, you will be worthy of receiving all the benefits from your blog.

If you’re thinking about the investment to run a blog, then the biggest investment is your time and efforts compared to money. Because it will cost you around a few bucks a month to run a blog.

So if you’re interested in starting a blog, then here is my article to start a blog with Bluehost and WordPress.

7. Create An Online Course

If you really want to make passive income with your short term of hard work, then creating an online course would be an excellent option for you.

The best part of having a digital product is that you will not need to create the product again and again.

So if you have knowledge about any topic and can create a course, then combine all your pieces about that topic and compile a valuable online course.

Once you’ve created the course, you can sell it on Udemy.

Udemy is one of the largest marketplaces for buying, selling, and streaming digital courses.

8. Design And Sell T-Shirts

There are lots of sites like Teespring and Amazon Merch, where you can design T-shirts or upload your artwork. Then they do the rest of the work from printing to delivering those T-shirts.

As you guys know, how big Amazon is right now, it’s getting millions of active users every month. So if you get invited from Amazon Merch, then there is a glorious opportunity to get reach out to a huge number of people instantly.

Teespring helps to create your own online store that you can use as your merchandise store. To earn from Teespring, you will need a marketing strategy to get traffic and sales.

9. Upload Videos On Youtube

As blogging Youtube is another long term income generating system. That requires lots of hard work upfront for a long time before rolling cash.

If you’re creative enough to make videos that are interesting, entertaining, or educating people, then Youtube is the platform for you to play around. This is the second-largest search engine and the biggest video content platform, which means it has enough potential so you can generate a significant amount of money with it.

Youtube has a benchmark of 1000 subscribers and 4000 watch hours within a year, before start monetizing your channel. And for crossing that benchmark, you have to produce quality content consistently.

From an earnings perspective, there are many ways to earn from a Youtube channel, from advertising to sponsored posts.

10. Affiliate Marketing

Affiliate marketing is a process of referencing third-party’s products and getting rewarded if any sales will perform through your referral link.

There are plenty of affiliate networks you can join and start promoting their products. Some popular once are Amazon Associates, eBay Partners, ShareASale, and ClickBank.

For making money with affiliate marketing, you need traffic on your affiliate offers, and here you can consider your blog, website, social media, or anything like these.

Related – 10 Ways To Promote Your Affiliate Links.

11. Social Media Influencer

Do you want to make money literally posting stuff on your social media?

There are lots of companies that hire social media influencers for promoting their products. Social media influencers get paid anywhere from $100 to $300 for just one sponsored post. This price range may vary according to your following and engagement rates.

For making this happen, you need a well-grown social page or account. It could be your Instagram page, Twitter account, or Youtube channel. And for growing your social media, you have to be consistent, posting relevant content, according to your social media’s niche.

Read also – How To Make Money On Instagram In 2021

12. Create An eBook

Creating and publishing an eBook would be a great idea to make passive income.

If you have something exciting or relatively problem-solving, which you can transform into an eBook, then there is a great chance to make money passively.

For creating an eBook, you need to write it, edit it, creating a cover for it, and publish it on sites like Amazon kindle.

13. Create An App

This can be a techy thing because creating an app isn’t easy unless you’re a programmer. But if you’re not a programmer, who doesn’t know anything about programming and coding stuff, then you can hire someone on Fiverr who will do the job done for you.

Creating an app can be a great way to make passive income. You can create an app literally about anything. So if you have any idea for your app, then there are two ways to make money with it. First, you can set a price for using your app, and second, you can monetize it by displaying ads.

14. Sell Digital Products on Etsy

If you ever buy any product on Etsy, then you definitely know it is a huge marketplace for handmade products. You can find a variety of handmade and crafted items on Etsy.

Selling digital products is one of the ways to make money with Etsy. There are also numbers of digital products, such as Printable arts, Stickers, Digital planners, etc.

So if you have some graphic designing skills, then you can design those kinds of digital products and sell them on Etsy. This could be an excellent opportunity to make passive income.

Etsy charges a significantly lower percentage of your sales than other eCommerce platforms. And it is pretty good from an earnings point of view.

15. Domain Flipping

Domain flipping is kind like a process of purchasing and selling domain names. It’s is one of the methods where you can make higher profits with lower investments.

The concept of domain flipping is finding and purchasing hot domains at least amount of money, and sell those domains at higher prices.

Sites like Flippa is a great platform for selling domain names, and you can use GoDaddy for finding and purchasing domain names.

Also read – 9 Best Websites To Make $100 Per Day

16. Sell Stock Images

If you’re passionate about photography or you just like clicking pictures, then there is a way to earn some money out of it.

You can sell your pictures as stock images on sites like iStock and Adobe Stock.

When anyone uses your images, you will get paid.

17. License Your Music

Well, this is quite similar to selling stock images. Here you can license your music for using it. You’ll be get paid when someone uses that.

So if you’re a music lover and creates music, then this is for you. Check out this article to know how to license your music.

What Next? Now it is your turn to take steps and use any of those passive income ideas. If you’re already making passive income with any of those methods, then share your experience in the comment section.

Above featured 17 Passive income ideas 2020, Shows you seventeen passive income ideas for 2020. Hopefully, this article provides you better insights about passive income ideas. Please let me know in the comment section what you think about this article.

Share this article if you enjoyed it.

Thank you!

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