The top 15 passive income strategies you should try in 2020

It would be nice to rake in some cash without having to lift a finger, and even if you do, not much is demanded to have some money flowing into your account.

In recent years, passive income has risen as a common way to see this option come to life. The growth of these jobs is propelled by the dwindling nature of white-collar jobs that dominate the workforce.

These jobs have been made possible by the entry of the internet about two decades ago and have created niches that would otherwise not exist offline or would be hard to get to. The popularity is further driven by the use of smartphones, tablets, and other computers that are configured to access the web.

With this knowledge, passive income is defined as a way to make money with little to no effort being applied. Usually, to get to this point, some options demand the input of a lot of work before becoming an infinite money stream. In other cases, it is linked to practices that demand continuous commitment so that they can become an income stream as well. Passive income is also related to some practices that require little effort to no effort with immediate or continuous results. If you are looking to set yourself up using this route, here are fifteen options that you can pay attention to:

Online Gambling

The online platform is home to thousands of gambling destinations where gamblers can visit to engage in gameplay for a chance to win some real money. At first glance it looks surreal, but what if we tell you that the casino does not always win? Just look at these winnings!

Most casino games do not demand the use of skill to play, but some accommodate various strategies to exploit any winning opportunities that come by. Some of the games that can be played include:

  • Slots
  • Blackjack
  • Video poker
  • Roulette
  • Baccarat
  • Poker, etc.

Usually, players who break the jackpot train for a long time on free games, and only then play for real money. Nowadays, there are a large number of sites on the Internet that offer you to play online slots for free without download or registration.

Players should get familiar with the rules of gameplay before heading on to engage in each set even with the simplicity of the procedures applied. Also, bonuses and promotions can be claimed as well to give gamblers additional chances to collect real money wins without spending more from their pockets. The conditions of each offer should be keenly assessed to ensure that the risk of claiming the amount is worth it.

Dividend-Paying Investments

This option has been tried and tested by millions around the world as a way to rake in some serious cash passively. This mode of earning money does require one to invest before they can receive any profits, but they can be used to make more than one thousand dollars per month.

People with fat bank accounts can put in a significant amount of money at a go, and they can expect massive dividend checks in return. However, consistent pumping of cash can also work to amass a good profit over time if putting in a lot at a go proves too much for your finances.

Dividend-paying investments require you to perform a lot of research before putting your money in any stock basket. Other areas aside from the stock market prove helpful in making money in this manner like ETFs and online platforms like Lending Club. No work is demanded on your part at all – only your money. Choose investments that are likely to score returns of more than 15% per year to get your money’s worth, and ensure you are willing to abide by the course until its time to reap returns.

Rental Properties

The real estate market is growing consistently in many parts of the globe, which makes it an ideal industry to invest in for passive income. After you go through the trouble of putting up a property, you can sit back and wait for monthly income to flow in from renting it out. You can make this option entirely passive by employing the services of a property management firm to handle any issues with the property on your behalf for a commission.

The online platform makes it easier for anyone to invest in rentals if you do not have the capital to raise a building or don’t want to sit through the process. Assess your interests in the industry and how much money you are willing to pump into the venture. You can also choose to be one of many partners owning a building or purchase one on your own.

Invest in a Business

Businesses have the potential to rake in millions, and you can be part of the team sharing the spoils if you invest in one. You do not have to be involved in the running of the business actively. Instead, you would pump in some cash to help the venture take off, and then wait to enjoy the profits generated as a silent partner.

Investing in business as a passive income is a precarious step to take, but the returns it is bound to generate if the venture is successful are massive. One excellent example is Uber, which is a global online taxi service. The company took off with the help of silent investors who are now ripping massively considering the current billion-dollar status of the firm. However, as an investor, the only way you would benefit big time is when the business goes public.

Affiliate Marketing

Affiliate marketing may be a passive way to make income, but it is linked to active tasks such as posting content on blogs, social media, and other platforms that interact with the general public. With this option, you partner with companies to include referral links on pages so that readers can become familiar with their products. The firm provides a unique link that is then used to track the traffic directed to their website, which is then used to determine one’s income. Some ways that you can make this strategy a successful venture are:

  • Conduct enough research to identify firms that have products related to the demographic you target with your work.
  • Read through the reviews of companies you are considering and purchase their products and services to test their legitimacy.
  • Assess what your audience is responding best to and work with the product and others related to it.
  • Use more than one platform for marketing items.

Develop a Digital Product

Millions around the world depend on digital products like they do physical ones to run their day-to-day lives. Therefore, you can focus on creating such items that can be marketed and sold on the web. In most cases, a lot of work will have to go into making these products, but once they are out into the world, not much will be demanded on your end.

Among the fastest-selling digital products are applications. Smartphones and tablets use apps to run nearly every program, and they come with the freedom of including third-party ones through mobile stores like Google Play Store and Apple Store. If you have an app idea that can do well in the current market, go ahead and create one. Even if you lack the technical expertise on how to do so, you can hire an app developer to create it and proceed to sell it for residual income.

Cashback Programs

Cashbacks are used in numerous companies as a way to get clients to use their products. These programs usually run to give one back a percentage of the amount they use on a product. For instance, in casinos, cash backs are generally given as a percentage of the amount of money used or lost in games.

This amount is then credited in players’ accounts with no wagering requirements attached, which means they can be withdrawn with no terms to meet. In most credit card companies, on the other hand, cash backs are given in the form of reward points for purchases made. These points can then be changed to money once enough points have been collected.

Phone Apps

The app market has grown to see some options being introduced that allow users to make money for simply installing and using them. Some applications are developed to track what one is doing on their phone and sell some of the collected data while sharing the profits with you. One such app is Neilson Digital, which runs in the background as one continues to use their device as they would. Other apps include:

  • Mobile Expression – this app rewards iOS users for installing and leaving it on their devices for ninety days or more.
  • Slidejoy – pays Android users to let it display ads on their lock screen.
  • App trailers – Rewards one with points to watch app adverts that can be exchanged for cash.

Display Ads

This passive income option is ideal if you own online property such as a blog, social media accounts, or other similar spaces. Display ads function as billboards for the online platform, and they can be found scattered in the form of banners on online pages. Unlike affiliate marketing links, the displayed products do not have to be related to the content posted on the page. The advertisements are usually run by an ad marketer, and Google stands as the biggest one. Income is generated depending on the traffic your site sees.

Cost Per Click Ads

These adverts function a lot like Displays ads in the sense that they are placed like banners on a webpage, and they do not have to be related to the addressed content. Unlike Display ads that pay according to site traffic, CPC ads reward when a client clicks on the link provided on the website. Even if they do not purchase the products being marketed, you get paid anyway. When using this passive income option, it is recommended to pay attention to what your audience is responding to and focus on advertising the products.

Sell a Business

The age of the internet has allowed the rise of businesses that run entirely online without having to depend on a physical location. In some cases, employees are not needed, or they can work from remote areas. If you have an online business idea but are not willing to run the venture on your own, you can build the platform and proceed to sell it once it is up and running. This money-making option requires a lot of work since many business buyers need to invest in those that already have a successful name behind them. After making the sale, you can include a clause that ensures you continue to receive a monthly income even after detaching yourself from the business.

Course Sales

Like with businesses, a lot of people are looking to get taught and certified in various courses online without going through the trouble of enrolling in an actual school. Identify a niche that you are good in and proceed to build a course that provides in-depth information in the area. This task demands a lot of work that can even take years to complete. On the upside, once you are done, all that is required is posting it for sale online and watch the money rolling in as purchases are made.

Sell Leads

Lead sales involve collecting information for a firm that will proceed to use it for marketing their products to specific target markets. The only requirement is creating a website that requires one to enter accurate personal information and continue to sell it to interested companies. The key to making this a success is getting as much traffic as possible.

E-Book Sales

If you have sharpened writing and storytelling skills, consider writing a book and selling it online. You do not have to pay for the content to be published on pages or sold on store shelves. Instead, you can type on your tablet or laptop and proceed to post it on various websites.

Ticket Resale

You can passively make money by reselling tickets online without taking the illegitimate ticket scalping route. This legal option is done with the help of apps like TicketMaster, Stubhub, and others that act as ticket brokers.

Wrap Up

Passive income may be a hard-to-believe venture, but many people have continuously raked in big money thanks to these strategies. Assess the options that are laid out and choose one according to the risk you would like to take and the amount of money and time you have at hand.