5 Passive Income Sources I Wish I Knew at 20

Jul 13, 2021 | News | 0 comments

How many crypto millionaires are there in the world? Just take a guess. 1K? 5K? 10K?

In fact, you can stop the video and write down your guess in the comment section. Let’s see if you can guess it right. According to the cryptocurrency data-tracking firm BitInfoCharts, there are over 100K people who have at least $1 million or more stashed in BITCOIN. That figure was up from just 25,000 BTC millionaires four months ago. And a year ago, there were only 15,000 bitcoin millionaires.

Imagine if we count in all the millionaires who hold different kinds of cryptos such as Ethereum, dogecoin, bitcoin cash, Stella, and many more.

I think there are a few hundred thousand of them. But you know what I like more than bitcoin? passive income! When you put the work upfront and then enjoy the cash flow that comes in afterward.

Of course, it might need a little management, but overall, with a minimum amount of effort, you keep receiving that paycheck every month or every week. It might seem like you need a lot of money to build at least one or two sources of passive income but not today. I mean, people are creating wealth out of nowhere, like in the case of cryptos. What makes you think that you can’t build at least one if you have an Internet connection. So let me share with you five passive income ideas that you can implement right now, right after watching this video.

It doesn’t matter if you have a full-time job or if you don’t have a lot of money.

These passive income ideas can be implemented literally by anyone. So if you are ready, all you have to do is to give this video thumbs, just crash that like button and let’s start with the first one. License your pictures In the age of the internet, you can monetize pretty much anything, even your pictures. You probably have heard this a million times, but I am going to give you a practical way to turn your picture into passive income.

This is not a scam! Although it sounds like one. You see, content creators have to come up with content, and not everyone is ready to go and shoot videos or create illustrations such as this one, so our team, for example, relies on external sources to get these illustrations. Others use video footages or pictures to create videos such as business casual, economics explained, or even our second channel bloom. And we use tools such as Shutterstock, for example, to get these images.

All you have to do is upload your pictures or videos to these kinds of websites, and whenever someone would use your picture, you are going to get paid a small commission. In fact, you can start uploading the exact same pictures you have on your Instagram; it doesn’t matter if they are pictures of your own or nature. As long as they look decent, you can give them a try. You are going to create passive income out of thin air. But what If you are not a fan of pictures?

What if you don’t take pictures at all, or you are just bad at taking pictures? well, don’t worry because you can 2. Monetise your ideas Sounds too good to be true.

Before you jump to conclusions, let me explain. You are probably interested in something.

It could be financial education, stock market, college, art, doesn’t matter, there is at least one thing you are interested in. What if I told you that instead of just sharing your ideas or opinions or knowledge with your friends over a drink on Friday night, you can share them with the world and monetise them. That’s what blogging is. You don’t necessarily have to make videos. I get it!

Ittakes time, money, and effort, but writing down your thoughts is easy. Just set up a website and turn your ideas into articles such as this one. (My blog) and put some ads on your website through google Adsense. Every time someone opens your article, they would come across an ad, and you are going to get paid a small commission for every ad that appears on your blog, which could turn into thousands of dollars if enough people read your blog. But you might say, setting a website takes days or weeks to build?

Or at least a few hours! Not anymore! Recently I have come across Zyro, one of the best website builders on the market who gladly agreed to sponsor this video.

I am not praising them just because they sponsored this video but rather take a look at this website? Everything from creating the website to making sure every page looks nice and beautiful took me less than 15 minutes.

You can literally visit this website that I have created in 15 minutes using the link in the description. Whether you are launching a business, a blog, or you simply want to share your thoughts and Monetise them to create some passive income, you need Zyro. Zyro is the easiest way to create a website or online store. All you have to do is drag and drop, No coding or design skills needed. Or you can simply use one of the hundreds of designer-made templates they already have.

And here is the best part, it’s the most affordable option in the market. With Zyro’s limited-time deal, you can get an additional 10% discount and build a website for less than 3 dollars a month! That’s less than the price of your coffee and if by any chance you didn’t like the service, don’t worry! Because they have 30 day money back guarantee.

There is literally zero risks in trying this service.

Make sure to use the link in the description or promo code – PROACTIVETHINKER – to get an additional 10% off Zyro plans and a free domain for an entire year. Another way to monetize your blog is though 3. Affiliate marketing If your blog is about fitness for example because you are trying to lose weight and build some muscles. In your blog, you might recommend some protein shakes or apps that would help you to track your calories or help you exercise more effectively. Pretty much every service has an affiliate program which means, you will get paid anything from 1 percent to 10 or even 20 percent if someone uses your link to buy that product.

If someone would read your blog and would get value out of it, they would definitely use your links to buy that product since you have established trust with them.

Every time I talk about books, for example, I make sure that I put an affiliate link down in the description, so those of you who are interested in buying that book, you can do that using my link, and we will get a small commission that will help us grow the channel. You are not going to overpay. That company or, in this case, Amazon would share with us a tiny percentage out of the sale for driving that traffic to their store. Of course, with one or two links, you aren’t going to go far, but imagine if you have dozens of articles and dozens of links.

You might drive hundreds if not thousands of people, and that small commissions will turn into a decent amount of money over a month. 4. Put some ads on your car It sounds like a joke, but there is actually a way to make money by putting ads on your car. It’s so weird that there are so many ways you can make money through ads. What an age are we living in?

! Think about it.

You drive your car anyways. You might drive every morning to your office, drop your kids at school, or just hit the hypermarket to do your groceries. Why not let your car generate some income while you are doing that.

I know that putting ads on your car seems like too much. You might feel a bit too uncomfortable, but who cares, you are earning money, and in case if you get tired of that, you can get rid of it whenever you want. You can expect to earn anything from 100 – 500 dollars per month. Especially if you have a car loan, it’s going to pay for your car. But be carefree because there are a lot of scammers in this industry.

 It’s going to take you some time to find a proper company that’s willing to put ads on your car, but then you can forget about it while you will get a few hundred dollars every single month for just driving your car. And finally 5.

Government bonds This is probably the easiest and the safest source of passive income. It doesn’t require any skill or even effort. You are basically going to loan your money to the government, and in return, the government is going to pay you interest for that.

 The government is going to take your money, and spend it on the infrastructure or schools and so on to improve the productivity of the citizens and in return, their income would rise, and they will pay more taxes which the government is going to use to pay you back.

But you don’t have to wait for the government to pay you back. You can simply sell it in the secondary market. Government bonds vary from 3 months to 30 years. The longer the period is, the higher the interest.

10-year-old bonds, which are the most popular ones, have a yield of 1.61 percent now, which is not that high, but you have to understand that interest rates are extremely low right now, so do government bonds. When the fed is going to raise the rates, bond rates will rise as well. It might not be the best option now but will be in the coming future because sooner or later, interest rates will be raised. At least it’s a much better option than keeping your money in a bank that doesn’t even pay a one percent interest.

But on the other hand, it’s a safe investment! What are the chances that the US government will go bankrupt? Pretty low if not zero since the US government is the source of the dollar. So if you want a safe passive income that doesn’t require any effort! Then government bonds are your ideal option.

There are hundreds if not thousands of ways to create passive income, especially in the age of the internet.

You might not be able to implement all of them, but you can at least create one. I hope you guys have enjoyed this video and, most importantly, found this video helpful and if you did, make sure to subscribe for more similar videos and click on the bell button. We have a lot of great videos on personal finance, the stock market, and real estate, which will appear somewhere here on the screen, so make sure to check them out thanks for watching, and I’ll see you in the next one..

Read More: How to Get a Book Published

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