11 Passive Income Ideas 😴 (Proven Ways to Make $1,000+ Per Month)

[UltraVid id=78 ]- Creating passive income takes work, but once you implement those processes, it’s one of the most
fruitful income sources that you’ll ever have and
it’s also very rewarding. Today, I wanna share my 11 most favorite passive income sources
that you can start today. (lively music) Okay, the first idea is
pretty well a no-brainer especially if you know that
I’m a financial planner and have been working with
clients for over 15 years now. But, the first passive income
source that you can derive is from investing. Now, I know many of you
watching this might think, “Well Jeff, I don’t have a
lot of money to get started.” I get it, I was there too. But, let me tell you, it
doesn’t take a lot of money to get started. Whether it be 50 bucks
a month, $100 a month, anything that you can start investing, you can start making gains,
start making interest off your investment. So, whether if you’re making capital gains off of your mutual funds,
your ETFs or your stocks, or if you have dividends that
pay out on a consistent basis, these are all sources of
passive income that you can get. If you’re not sure where
to get started investing, there are a ton of online
providers nowadays. There are Robo Advisors
such as Betterment, Wealthfront, Acorns, Robinhood,
Ally Invest, E-Trade. If you know nothing about
investing and you want somebody to pick those investments
for you, that’s why I have to recommend Betterment. Betterment doesn’t have any money to start and they will chose an ETF model for you. So, if you’re putting any
money in, they’re gonna choose those investments and then you’ll sit back and start making those
capital gains in dividends, otherwise passive income. Now, another form of option
that I love when it comes to investing is peer-to-peer lending. I started doing peer-to-peer
lending over six years ago and it has been one of my most
favorite investment classes to put your money into. Now, peer-to-peer lending
is just like as if you’re acting as the bank. So, instead of somebody going to the bank and getting a loan, you are
giving them a microloan. So, you become the financial institution. And, since these are microloans,
you’re only giving up about $100 per loan, sometimes less. And, I don’t know if you’ve
ever taken out a personal loan from a bank, but you know how
much interest they charge. So, imagine now you’re sitting
on the side of the bank and you’re collecting that interest. The top two peer-to-peer
lenders to check out are LendingClub and Prosper. I have accounts with them
both and I really don’t have a preference either which one. Well, I’ll tell you,
I’ve been sitting back and earning those interest
checks since I’ve started and I love it. My second passive income
idea is taking advantage of deal sites and/or survey sites. So, sites like Swagbucks,
InboxDollars, or MySurvey. Signing up for these sites allow you to do your normal shopping that you do online and make a little bit
extra money on the side. Or if you’re sitting on
your couch watching Netflix, your favorite TV show or some sports game, if you have your laptop handy,
you could fill out surveys as you’re wasting time, killing time, and make really good money. All right, my third passive income idea, and this one’s a little
bit outside the box, but hear me out. Taking advantage of
cash-back reward points. Now, I know, I’m sure
you’re thinking how is that really passive income? But, check this out. Before I started using credit cards to pay all of our bills, we used to
use debit cards all the time. Because I always subscribed
to the idea of like you shouldn’t have credit cards because credit cards are evil. They’re not that evil. But, when I started talking
to others that were truly taking advantage of all
the different reward points that you have to offer, I
realized that we were missing out on a ton of free cash. So, we’ve started using
reward points, specifically for cash back, airline miles, or hotels, anything like that that
we knew that we’d be using on a frequent basis. So, now everything that
we buy, whether it’s our cell phone bill, our
satellite bill, Netflix, groceries, gasoline, we
run all of our expenses through our credit cards and we get back tons of reward points. And, with these reward
points, we’ve cashed in on airline miles, hotels, and
a variety of other things. A couple years ago, we took
our entire family to Jamaica and didn’t have to spend a single dime other than some snacks in the airport. So, using your credit cards
to taking advantage of these reward points is so passive because you don’t have to do anything. You’re doing something that
you’re already gonna do to begin with. You just sit back and enjoy the cash. Cha ching! All right, on to passive
income idea number four. And, this is a fun one. Doesn’t really apply to
me, well, it kinda does. Ah, let me explain. So, one of my good
friends is a photographer and when he started taking
pictures for me and my family and for my business, he asked, “Okay, I will take your
pictures and I won’t charge you, “but, I wanna be able to use you “for my iStock photography account.” At the time, I didn’t know
really what iStock was or what stock photography
was, but I thought, you know what, if I’m getting
free pictures, sign me up. So, he would upload my pictures to iStock and businesses from all over
the world were using my picture on their websites, brochures, and all their marketing materials. I’ve had so many people
contact me because they saw my picture on some brochure
or website and asked like, “Jeff, is that you?” It’s like, yeah, that’s me. Now, I don’t get any royalties for that because all I got was free pictures. But, my buddy who’s a
photographer is still making royalties off pictures that
he took several years ago. So, if you have a knack with a camera and love to take pictures
of people, things, whatever, consider using iStock or any
stock photography service. All right, number five is
for all my artists out there. And, this is something that’s not me because I’m definitely
musically challenged. So, there’s this cool
service called Patreon. It’s for any artist that has a community, a growing community, and you
wanna get paid for your work. And, you have a community
of people that love your art whether that be your drawings, your music, whatever that art may be. And each time that you release
a new item, you can get paid a fee for that. And you get to determine what that fee is. So, let me give you a few
examples of some friends of mine that really have taken
advantage of Patreon. A good friend of mine,
Evan Burse, also known as the Cartoon Block, is
a very popular artist and has a thriving YouTube channel. And, he loves showing people
how to sketch superheroes. So, with Patreon, any time
that he creates a new image, a new sketch, his community
will pay him a fee every time that he releases a new image. Talk about getting paid
for what you love to do. Another good friend of
mine, Chris Greenwood, a musician and in the band Manafest, gets paid by his community every time he releases a new music video. See, these are things that
these artists were doing anyway. But, now instead of
just releasing something and hopes that somebody will discover it or that you hope that you
might get paid for your work, with your community
that is looking forward to the next piece of art
that you’re going to release, you’re going to get paid and
they’re excited to pay you. Check out Patreon.com for
other ideas especially if you’re an artist that wants
to get paid for your work. All right, number six. And, this one takes a little bit of time, but once you get it out
there, you can really sit back and start earning that passive income. So, what am I talking about? This time I’m talking
about writing a book. Shameless book plug. So, I had both the wonderful
and stressful experience of writing a book, Soldier
of Finance, back in 2013. But, here’s the cool thing,
the book has been out for almost four years and guess what? I’m still getting paid on sales. I can log in to Amazon and
see how many sales of my book are occurring each and every week. But, maybe you’re not ready
to do a physical book. You could also sell an ebook. There are tons of authors
that release books all the time on Amazon. Writing and publishing books
in the Amazon Kindle program is so much easier than it ever was. So, if this is something
that you wanna do, think about it very hard. Another blogger that I know
in the personal finance space named Mike Piper, blogger
at obliviousinvestor.com is making over six figures
a year from his ebooks that he sells. And, guess what? He doesn’t have a ton of
ebooks, but he has enough. And, the ones that he
does sell, yields him over six figures every single year. As you could see, writing
a book, whether it be a physical book, like Soldier of Finance, or an ebook, can be very lucrative. You just have to get the book
done and get it out there. All right, number seven. β™« We’re about get physical, physical β™« We’re about to get physical β™« Come on and get physical β™« Let’s get into physical – Okay, so maybe not
that kind of physical, but we’re talking about physical products. So, this could be a variety of things. This could be t-shirts, mugs, blankets. It’s amazing what you can
create and sell online, especially with the Amazon FBA program. But, maybe you don’t wanna go that route and you actually do
have a physical product that you wanna sell. One of my most favorite success stories is Steve Chou from the
blog mywifequitherjob.com. So, with Steve’s case,
his wife is getting ready to quit her job, a six-figure salary living in Northern California and he wanted to find a way
that he could replace that so she could still spend
the time with their kids, but also not lose out on the income. So, what do they do? They created a digital online store selling physical products. In this case, it was handkerchiefs. You could check out his
site at bubblebeelinens.com and see everything that they sell. Now, their store has evolved
a lot from the handkerchiefs so they offer a lot of different things. But, here’s the cool
thing about that story. Within the first year of
launching their online store and selling these physical products, they replaced his wife’s
income over $100,000. Did you hear that? $100,000 after their first
year of opening their doors. That’s amazing. And, the best part, it is passive income. All right, on to number eight. Let me tell you, number eight
was one that didn’t work out quite well for me, but
I know it’s worked out for a ton of other people. So, where does this one? Real estate. Now, there are many ways
that you can get involved in real estate. You can flip houses, you can
buy ’em and sell ’em wholesale or you can become a landlord and have tons of rental properties. And, that’s the path that I started. But when I started down that path, I realized I had no idea what I was doing. Now, thankfully, I didn’t lose
my butt on that investment, but it did allow me to explore
other passive income ideas that I’m currently implementing. But, let me tell you, I
have a local friend here who is in his early 30s and is making over $250,000 a year from
his real estate properties. He has a lot that he does
flip, but he has a good chunk of his real estate portfolio
that is completely passive. I will tell you if you want
to start getting involved with real estate, make sure
that you have a good mentor, because you can lose a
lot of money very quickly if you don’t know what you’re doing. So, if you’re not completely comfortable investing into physical real estate, there are other options. One option are real
estate investment trusts which you can buy through ETFs. Other options include
sites like fundrise.com. So, with Fundrise, they
will take your money and you’ll put that in a pool with other real estate investors and then somebody’s in charge of choosing those physical locations for you. So, that way, you’re
not in charge of picking those locations or having to collect rent and making sure that they’re
taking care of the upkeep on those buildings. All you do is sit back and collect the interest and dividends. Either which way that you look
to explore into real estate is going to yield you some
sort of passive income. Passive income idea number nine, take 17. So if you’re comfortable
putting yourself on the world getting in front of a camera
kinda like I’m doing right now, you can publish content
to YouTube and sit back and make money. So, how exactly are you
making money on YouTube? The most easiest way is
the ads that you see. You know, those annoying skip here ads the first five seconds
of every YouTube video that you watch? Yeah, those ads. Anyway, YouTube publishers
get paid any time that you watch any of their videos. So, YouTube’s always
looking for content creators that are willing to put
in the time and effort to create good video content. One of my favorite local
stories here is Emily from Beauty Broadcast. When she started her YouTube
channel showing her community how to apply makeup, she
started making a little bit of money with the ads from her videos. The next thing you knew,
those ads kept increasing as her viewers gained and
her subscribers gained. Fast forward to three or four years later, she was able to quit her day
job because she was making more money than her day job
with her YouTube videos. Now, she makes almost
six figures every year just by putting on
makeup every single day. Pretty sweet, I like it. I don’t really wear makeup,
but you know, whatever. It works. So, whether you wanna
create makeup videos, prank videos, or crazy workout videos, if you’re willing to put in
the work and upload those to YouTube, you can get paid. All right, number 10. And, number 10 is definitely
one of my favorites ’cause it’s near and dear to me. But, it is blogging. So, I started my blog
back in July of 2008, goodfinancialcents.com, holla. And I’m still amazed at not
only the amount of money I’ve been able to make from my blog, but just all the connections
I’ve made with so many amazing people over the years. Now, my blog brings in
over seven figures a year. What? And most of it is passive. Yes, like a landlord,
it does take some upkeep and there are things we have to do, but I put in very little work
for the base that I built up over the years. You can check out other
bloggers like Pat Flynn from smartpassiveincome.com
or food bloggers Lindsay Bjork Ostrom from pinchofyum.com. And, even my wife, Mandy,
from houseofrose.com. All these bloggers are
making really good money and most of them are from
blog posts that they wrote over three years ago. It’s amazing and it is
almost completely passive. If you’re interested in
making your first $1000 from blogging, be sure to check
out my free Email Challenge, the Make 1K Challenge. You can check out more details
at make1kchallenge.com. In this challenge, I show you
how to start your first blog, publish your first blog post,
and give you behind-the-scenes peek of how I made my first $1000. Yes, it can be done. So, go check it out at
make1kchallenge.com. All right, here is the
last one and I don’t know if this is my favorite,
but it definitely is one that I’m pretty excited about. So, what is it? What I’m talking about here is creating your own online course. Now, this is something
that I fought forever. I’ve always wanted to create a course, but I kept struggling with
what do I wanna create, what’s the idea? Who are the people that I wanna serve? And, I kept coming up with
idea after idea after idea, but unfortunately, I
never actually launched any of those ideas. Now, let me tell you,
to make passive income, you don’t make money off ideas. You make money off
implementing those ideas. Finally, about two years ago,
I released my first course, The Online Advisor Growth Formula. In this course, I’m
showing financial advisors how to use online marketing
to grow their businesses. I launched that course last year and I’ve created the
course, I’ve just recorded all the videos, and
now all I do is market, which most of it is
automated using Facebook ads and email marketing. Last year, we made over
$100,000 off that course, all because I took an idea
and actually implemented it. This year, we’re on track
to beat that by at least 50% if not double it. Now, remember, I’ve
already created the course. This is not something new that
I have to redo or reshoot. All the information is there. Now, it’s just a matter
of getting that course in front of the right people
that are willing to buy it. Out of all the ideas I’ve shared with you, I love the creating an
online course idea the most because the margins are ridiculous. If you’re selling a course for $1000, your cost in that course may
only be 100 buck, 200 bucks. But, as you go along and make more sales, your margin decreases which
means your profits increased. So, you start making
more money and more money and more money. And, guess what? It’s completely passive. Now, as you can see, there are
a ton of passive income ideas you can start. I’ve only shared 11 with you here today. On my blog, goodfinancialcents.com, I share 25 passive income
ideas that you could start in addition to the 11
I’ve shared here today. Now, we’re constantly
adding to that blog post so if that number is bigger
by the time you actually watch this, just know
that we must’ve found another great passive
income idea that we’ve added to that post. All right, now I wanna hear from you. What passive income idea
have you implemented? How much are you making? How long did it take until you started earning passive income? I want you to share with the GFC community so others can benefit and start making some real passive income. Let’s go make some money. Jeff Rose for goodfinancialcents.com. Take care. All right, onto passive inki– So I had the wonderful and… Oy goy, bar right services. Starting over, that doesn’t
make sense what I just said.

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