What are the Passive income ideas to start building your wealth in 2023 and beyond?
Passive income ideas
Are you looking for passive income ideas?
Don’t be shy
I know you want more.
That’s the reason why you have landed here
The term passive often fascinates people who always look for income opportunities to turn their ideas into seamless profits.
With the growing possibilities, there are endless opportunities to create a side business that helps grow your money.
Now it has become a necessity to build multiple sources of income to support your primary business in times of uncertainty.
Business ideas with little effort at the beginning can help generate side income while you sleep.
You still can make money by having multiple streams of income with much more flexibility and freedom.
This article breaks down 24 passive income ideas while keeping your primary business in focus.
So, this post can finally allow you to get more of what you actually deserve.
What is passive income?
Passive income is a method of generating money that requires little effort to manage and run.
It is absolutely no way similar to active income where you work your butt-off try making good income 9-5.
While effort remains the main key player but only for an appointed term and then you take the advantage of its benefits.
So, let me make it simpler you invest your time in earning methods, and with some effort, they give you money over time.
A few examples, suppose you create an eBook you just have to upload it to the right marketplace that is Amazon kindle.
Now, every time someone downloads your books the money keeps flowing while only updating its content.
Well, this is where you hit and “make more money while you sleep.”
This is what allures the audience and encourages them to find reliable passive income ideas.
Probably, this is what made you land here.
There are innumerable passive income ideas that include (affiliate marketing, videos, printable, and podcast).
That will allow the money to keep flowing in with little effort.
1. High yielding saving account
Invest in a high-yielding saving account for those of you who don’t understand what high yielding saving account is.
It is a similar type of saving account that pays you 20% – 50% more on average than a normal savings account.
So, this might be a very old traditional way for some of you but still has better value and is the safest method to earn passively.
For better advantage, in times of uncertainty, it is always advisable to save it for your future events.
While you may be benefitting an APYs of around 0.50% than 5-6 times more than the average bank payout.
To dig deeper you can invest in a large amount to meet your desired targets.
“This post contains affiliate links that mean if you buy any products/services I may earn a commission see affiliate disclaimer”
2. Stock trade
It would be unfair not to mention that stocks played a significant role in our world’s billionaires like Elon, Bezos, and buffet.
The act of trade in which you buy stocks and sell it for profit in which you earn a good passive income for each insight.
Likely it is not a piece of cake you may have to work actively to let the passive income come in continuity.
If you are new and would love to try in stocks I recommend you to be updated with the business reports.
3. Rent properties
Depending on the primary locations you can start investing in real estate which has the potential of making huge money.
Well, real estate can be hard for anyone who is just a beginner it is best suitable for you to be under the guidance of an estate agent.
You can buy pre-construct structures at a low price and sell them after fully completed at a much higher price.
Also, you can actively rent those properties bought and earn good passive income monthly.
4. Sell digital products
It is one of the trending ways to generate passive income to indulge in creating digital products and selling them online.
Well, with podcasts you can monetize your voice if YouTube is not your thing.
The podcast is increasing in popularity among other amazing ideas that include YouTube, affiliate marketing, and blogging.
6. Create an eBook
Digitally created items are hot in the market these days.
Well, creating eBooks is a crazy passive income idea that makes you money over time with easy to access across all platforms.
You can write your own eBook with online tools such as canva design it and publish it on Amazon Kindle publishing.
Now every time someone buys your eBook you earn a small percentage of commission but only if marketing is done properly.
You may have to spend some time marketing your eBooks before you can actually benefit from this amazing earning idea.
7. Affiliate marketing
Now, the most common method that is increasing in popularity day by day is affiliate marketing.
If you are not aware of what affiliate marketing is, it is a process of generating sales in return for a commission.
You will need to build a niche-specific affiliate site that is trending and once it’s got going this is where the magic happens.
Find the relevant keywords around your niche and start building your site around it and yes market it like a pro.
Some of the best-selling affiliate items are digital products, health & fitness, hosting, templates, and online courses.
8. Selling online courses
Do you want to launch your own course?
So, if you have something that people would love to learn from then you may consider this money-making idea.
Creating courses online is easy if you are a good musician, great cook, digital marketer, web designer, and marketer.
To help you with that there are plenty of third-party sites that allow you to host your courses online.
These are teachable, udemy and skillshare with easy to design and launch, check out for more details here.
Once the course is launched the potential of making money with it is unimaginable.
9.Social media influencer
Social media is thriving and bringing new endless possibilities for anyone to start making fortune with their presence.
Influencers generally collaborate with brands/publishers to promote their products/services in exchange for money.
Depending on the followers you charge for paid promotions that are a pretty good amount to be very honest.
But, I would like to clarify gaining so much popularity isn’t going to happen overnight rather much dedication is required.
Brands reach out to social media influencers to promote their products, services, affiliate links, and sponsored posts.
While you are reading this post thinking this might be the right time to start creating wondrous content, then you’re right.
10. Rent you car
We have all shared uber or Lyft maybe but have you considered lending your car to make money while sitting at home.
Well, this is interesting, companies like turo and hyrecar can pay you money for renting out your car while not in use.
These companies with a quick inspection pay you money for lending your car, if this interests you go check out their site.
Also, with extra parking spaces, you can earn a substantial amount which is in very high demand in big cities.
Here you have another best that pays you to host guests only if you have some spare room, guest house, or accommodation.
Empty rooms, spaces, guest houses are a perfect way to start renting your room to Airbnb guests.
This works very simply you have to sign-up to their website and register your account with the available spaces.
If there is any requirement of available spaces Airbnb will send them to you while you earn passive income every time.
12. Promote companies on your vehicle
Another crazy way to add to your list is by selling ads spaces on your car, literally, companies will pay you to promote them.
Companies will pay you monthly for carrying a mobile billboard-like real sticker that will be applied to your car, van, or truck.
So, if you do want to try some different ways to earn passive income this might be for you.
There are few real sites that allow you to make money by selling ads spaces on your vehicles are carvertise and wrapify.
13. Earn money typing names
How close we are to passive income ideas that literally give you money to just type names, don’t worry let me explain.
Naming a business can be daunting and that’s the reason companies all over the world pay you to brainstorm ideas.
If you are a creative person who can come up with some extraordinary ideas suggesting names to companies then this is for you.
The company Squadhelp literally pays you $100-$300 to suggest names, for which you have to pass the contest.
In addition, you can also try logos, taglines, audience testing, trademark research, trademark filing, and video creation.
14. Start a blog
The recent trend of blogging has been tremendously mind-blowing and suggests that can allow you to build passive income.
A few of the examples are “How to”, affiliate marketing, and Reviews are the most popular to follow.
If you have been thinking of starting a blog there is still much to be done and can build multiple sources of income.
Like you can apply Adsense ads, sponsored posts, affiliate marketing are some of the best ways bloggers earn money.
You will need reliable hosting and a domain name combined with a good-looking WP template.
Have you not tried dropshipping?
Time suggests you take the advantage of this opportunity where people avoid physical contact rather than shop online.
While dropshipping can be a perfect fit for you while you actually sell real products without any inventory.
The merchants will pack and ship the products for you while you enjoy the benefit of earning a commission.
To help you with that you can start with Shopify, the most popular dropshipping platform that lets you easily build a site?
16. Print on demand
The most trending way to build a passive income is through opening a print-on-demand website.
In this, you market high-value designed apparel like T-shirts, trousers, and tanks to the right prospects.
When an order is made you simply print the design and despatch the item to the customer.
It requires low-upfront cost and earning potential is massive with the right marketing strategy.
Well, you have some pretty good options to start with third-party websites like Amazon merch, printful and teespring.
17. Peer to peer lending
Peer-to-peer lending is a model where you lend money to borrowers with no security which has been growing in popularity.
While you may not have the security either that the borrower will pay you the amount borrowed.
To start with P2P lending if suggest you take precaution measures and deal with only authorized websites.
18. YouTube channel
YouTube is the ultimate source in building a passive income if you are an expert in a particular niche.
This demands hard work, dedication, and constant content creation with providing valuable information to prospects.
With it, you have the opportunity to monetize in different ways like affiliate marketing, sponsored posts, and ads.
The more visitors you have more you will earn that works in conjunction with engagement, avg views, and subscribers.
19. Selling printable
Selling printable is popular and with it, you can build your next passive income stream that is exploding.
There are multiple marketplaces on the web that lets you sell digital products like printable among which is Etsy.
You can easily design a printable on Canva or any other online tool and sell it across different platforms.
20. Book Reviews
However, this may be new for some but increasing popularity has built a substantial number of potential readers online.
Like where you review books online that are yet to be published and leave it for book lovers to choose from.
There are multiple genres that you can choose and start working on this passive income where readers will pay you.
A reader may leave you a tip of $3-$5 for each recommendation to help them out with the best choices.
Some of the sites available are Goodreads, lovereading, the millions, and reeds discovery.
It’s time now to build your profile
Make more money with Passive income ideas
There are a whole lot of passive income ideas that you can count on once you find the best you can start working on it.
Building a passive income can be tiring in the beginning but as soon as you gain attention & followers this is when you hit it.
So, moving on if you wish to start with any one of the lists above, make a thorough research and move forward.
Like online selling, dropshipping and digital downloads are the need of the hour, you’ll find that there are different ways to earn.
House sitting, pet sitting, licensing your music, and stock photos are a few more in consideration.