We are witnessing the digital revolution and many digital nomads travelling the world and earning money online. They don’t need to work from 9 to 5 for a cantankerous, grumpy boss who has unrealistic expectations and a bad temper or to be afraid of getting fired.
Have you ever thought about how some people earn money while they sleep, without any particular effort? You always thought that scenario is so unattainable that you almost gave up that desire to achieve it yourself?
If that’s the case, this article is here to help you change your mind and develop a plan to make a passive income yourself and earn as much as possible with a minimum amount of work. Nevertheless, don’t be deceived that a passive income falls from the sky.
To achieve a significant passive income, you need to work hard months or even years before you make it happen! Are you ready for such a thing? If your answer is positive, then proceed with the top 3 brilliant ideas you need to consider for your passive income in the future!
Let’s begin, shall we?
#1 Passive Leverage Income – the best way to make money
Did you know that a passive leverage income is probably one of the best ways to make money online? Many people consider passive leverage as their preferred method of earning money because others work for you. So, what does this term refer to?
Passive leverage income, or ‘leverage income’, leverages other people’s work while you are the one who is making a profit. If you are wondering what is the business model of this type of income, here are the best examples:
- Consider an affiliate program that will make money from the sub-affiliates
- Franchising your business
- As a super seller that is above a seller
- Selling through many affiliates
If you want to make a passive leverage income, you need to know how to create an eCommerce business from A to Z, following all the necessary steps from professionals. On the other hand, you can outsource your services to profit.
If you want to make a profit, keep in mind that it’s essential to charge more for the services you intend to offer than the amount of money you give to make the services done.
#2 Indexing your funds – a good choice for a passive income
In case you didn’t know it before, index funds are a term that refers to mutual or exchange-traded funds that are linked to a specific market index. They aim to provide the complete picture of the performance of the underlying index and, what is the most important, are managed passively.
Investors like this way of passive income because it translates to lower turnover rates and lower management costs. Therefore, it makes them more attractive and tax-efficient vehicles than other types of investments.
#3 Real Estate – the preferred choice for many investors
Real Estate has remained the preferred choice for many investors since they guarantee long-term returns. For example, rental properties can furnish apartment owners with regular income sources.
It means that investors can acquire, with ease, a real estate property for a 20% down payment, which is a good enough reason for choosing this method of passive income.