Hello, friends welcome to our blog in today's blog post I gonna tell you about 20 ways from which you can generate a great passive income in 2021, so let's get started.
What is Passive Income?
So first, we will talk about Income, An Income is money that you received, especially on a regular basis, for your work or through your investments. There are two types of income:
1. Active income: In this type of income you will get paid unless you are working. For example Regular jobs, Daily Wage jobs, etc.
It has simple meaning if you are working you will get the income and when you stop doing work then you will stop getting your income.😟
2. Passive income: This type of income is just the opposite of the Active income and it is one of the coolest types of income that everyone wants because in this type of income you don't have to worry about your work or your income. For example the income from an affiliate program, or income from sponsorship, etc.
It has simple meaning if you are working you will get the income and when you stop doing work even then you get your income.😉
Many people think says that passive income can come from two sources:
1. By renting your property
2. Or a Business in which you don't have to work actively.
Now I am telling you "Top 10 Ways to Generate Passive Income in 2021."
1) Start a Youtube Channel:
Starting a youtube channel is the simplest and the easiest way to generate a passive income with no investments.
Data shows that nowadays youtube getting 5 billion views per day which proves its power on the internet.
Felix Kjellberg is the owner of a you-tube channel (PewDiePie) has earned 12 million dollars in 2017.
There are many great Indian you-tubers who also earned more than $55,0000 annually.
Top 5 Indian Youtubers:
1. Amit Bhadana
2. BB Ki Vines
3. Technical Guruji
4. Ashish Chanchlani Vines
5. Sandeep Maheshwari
Now let's talk about for which people it is suitable:
So, the people who love to create videos. like to talk about a video, shoot documentaries
or short films.
Skills Required :
Ability to create, record, and edit videos by using the software.
2) Affiliate Marketing:
Affiliate marketing is partnering with brands that offer a commission as a reward for your endorsement and referral. Affiliate marketers or resellers generally act as middlemen between customers and products. As an affiliate marketer, you can earn commissions by referring to web traffic and sales through their own promotional efforts using a coded URL or web address to track each referral.
There are thousands of products you can resell for a profit. Many of the bloggers you read online are probably affiliate marketers.
The Amazon Associates program offers many ways to make money on the largest selection of books, music, DVDs, toys, electronics, kitchen, apparel, jewelry, tools that you can find on the Amazon website. As an Amazon Associate, you can earn commissions on products and services that you refer customers to. There are thousands of people earning a living doing this and you can do it too.
The trick is finding a niche and focusing on that. Do your research and learn the best way to profit as an Amazon Associate.
3) Teach a specialized skill:
Everyone has a specialized skill they can share with the world. You can take your specialized skill and turn it into a blog, a course, an ebook, or a Youtube channel.
Let’s say you are a sailboat repair technician. You know all about fixing sailboats. You could create a simple online course for “How to maintaining your sailboat” or “Getting your boat ready for winter”. Your specialized skill could be an underserved niche in the marketplace.
You can make courses and sell them on Fiverr, Udemy, Coursera, and on many other different platforms and generate passive income.
4) App Designer:
There are almost 5 million apps in both the Apple App Store and the Google Play App store.
If you have a great problem to solve for a specific niche, building a mobile app can be very profitable. With over 5 million apps, you need to do your research and really understand both your target audience and the specific problem you are solving for them.
Right now the most downloaded paid apps include Games, Health apps, Productivity tools, and other entertainment apps.
5) Stock Photographer:
There are many
websites from where you can buy or sell photos online and generate a
passive source of income. There are many websites that buy stock photos.
Shutterstock and iStock are two of them.
6) Blogging:
The process to make money as a blogger is simple. You set up your blog, start creating useful content attract your readers, build engagement with them and make money from the readership through one or more of a variety of income streams like digital goods, affiliate products, sponsorships and more.
Blogging is a very great option to generate passive income.
7) Bookkeeping:
Bookkeeping is the recording of financial transactions, generally into an accounting system. It’s part of the process of accounting in business. A bookkeeper is tasked with adding transactions like purchases, sales, receipts, and payments by an individual person or business. Because all you need is a computer with an internet connection, being a bookkeeper is a low-stress job you can do from anywhere.
If you are good with numbers, it doesn’t take much to start a bookkeeping business. You can find jobs on Upwork and sites like Freelancer and start today.
8) User Testing:
In these types of tasks, you will have to review some new websites, Moblie applications which are offered by the owners because they want to know the user experience right from using the websites.
You as a tester can help and get paid a good amount for your valuable Feedback.
These are some Websites which provides the User Testing are:
1. UserTesting
2. Utest
3. Testingtimes
4. UserFeel
You as a tester can help and get paid a good amount for your valuable Feedback.
These are some Websites which provides the User Testing are:
1. UserTesting
2. Utest
3. Testingtimes
4. UserFeel
9) E-Books:
Today readers prefer to read everything on the screen. It’s cheap, convenient, and accessible from anywhere. E-Book readers like Kindle are revolutionizing this online reading trend. What do you know that others want to know?
E-books Everyone has something they can teach. Start writing on any hot topics, and turn it into an ebook. You can sell it on Amazon, or on your own website and earn money from your book.
With Amazon’s self-publishing services you can reach millions of readers worldwide and keep control of your work. It’s fast and easy to independently publish your print book with CreateSpace and create an audiobook with ACX.
10) Online Freelancer:
Copywriters give voice to a brand or product. It is an art of playing with consumers’ wit to persuade them to incline to particular products or services.
Necessarily, businesses hire skilled copywriters with a higher wage, to ensure smooth promotion.
Some best freelancing platforms are:
1: Fiverr
2: Upwork
3: Freelancer