Which Passive Income Is the best?
Does there exist a single passive income that’s the most profitable? And if the answer is yes what is it then? That’s what we’ll look at in this article.
Before we dive into the answer let us first talk about what passive income really is.
What is passive income?
By now almost everyone has heard the term “passive income”, and it sounds like something we should all strive towards. But the harsh truth is that there’s nothing like 100% passive income, and here’s why:
- You must first setup the passive income stream before you can start earning money whether it’s a Youtube channel, a Blog, affiliate marketing, selling digital products, etc. With other words it takes a lot of upfront work.
- Often you’ll also need to do some minor maintenance tasks to keep generating “passive” income.
However when everything is setup and it runs smoothly, then it’s correct that it turns into a more passive kind of income.
All in all passive income is income that takes no or close to zero effort to maintain.
What are some great passive income ideas?
There’s a lot of passive income ideas, and I bet you’d already heard about a lot. The most common ones are:
- Do affiliate marketing
- Start a blog
- Start a YouTube channel
- Invest in high-paying dividend stocks
- Real-estate (rent out properties)
While these are actually great ideas, I bet none of you scouting this article was hoping to read about those. So here’s some more unique passive income ideas:
- Build something in front of your house that attracts a lot of eyeballs, and charge $2 for an image of it.
- Rent out your toilet if you live close to a festival or a city (might be messy)
- Rent out storage space if you live in a big house or apartment
- Develop an app and monetize it (you don’t need to code and it’s free)
- Rent out parking space in crowded cities
- Sell low-content books
- Invest in rare collectibles
Which passive income is the most profitable?
It’s hard to say which passive income is the best or which passive income is the most profitable. First of all it depends on what you like, your situation, location, your savings account, your job and a lot of other factors.
When that’s said I would personally say that selling digital products is the best passive income, and I’ll tell you why.
- Creating a digital product can be done in a day, thus it doesn’t require a lot of upfront work.
- It doesn’t demand any maintenance or if it does, then it would be close to nothing.
- You don’t need to store your products anywhere, since it’s uploaded to the World Wide Web.
Of course that’s not the same as saying it’s the most profitable passive income, I’m just saying it might be the best passive income stream to start when considering time requirements.
The best passive income is only something you can determine yourself. It has to fit your situation and interests, and if you like using a lot of time building passive income streams, then a more time consuming passive income might be a better fit for you. Thus the answer to the question is: There’s no such best passive income.
Read about more passive income ideas here
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