Nine different ways that passive income can be made will be discussed. And for each of those, how hard it is to get started, how hard it is to make $100 a month from it, and how hard it is to maintain once the thing has been created in the first place will be talked about. In my business, around $27,000 per week is generated these days from these nine different sources, with varying degrees of passiveness. Obviously, this has taken like eight years to build up. So, it shouldn't be expected to be hitting those sorts of numbers when first getting started. But this is the video that I wish I would've had when I started my financial independence journey many, many years ago. Let's go for it.

1. Stocks and Shares Investment

When passive income is mentioned, it is always air quoted because there is really no such thing as passive income; there is no way to make money without doing anything at all. But when passive income is mentioned, what is meant is that it's money that is not directly tied to our time. Investing in stocks and shares is the easiest way to make any kind of passive income. If you have any sorts of savings, and they're sitting in a savings account, earning 0.01% interest, they're not really doing very much for you. Whereas, if those savings are put into stocks, passive income could potentially be earned from the money that's otherwise just sitting there.

2. YouTube Channel Creation

A YouTube channel can be relatively easy to start, but real money-making from YouTube is much harder. An audience needs to be built, and compelling content needs to be consistently created. To make $100 a month from YouTube AdSense, thousands of views per video would be needed. It takes time and effort to grow on YouTube, but once a formula that works is found, it becomes easier to maintain.

3. Podcast Creation

Starting a podcast is easier than YouTube, but growing a podcast can be challenging without algorithms to help. To make $100 a month from sponsorships, thousands of downloads per episode would be needed. Building an audience and consistently producing episodes are crucial for podcast success.

4. Affiliate Marketer Role

Affiliate marketing involves selling other people's products and earning a commission on sales. Getting started with affiliate marketing is relatively easy, but making $100 a month requires building an audience and providing value to customers. It can be challenging to drive enough traffic to earn a passive income from affiliate marketing.

5. Digital Products Sales

Digital products, like ebooks or website themes, can be profitable if something valuable that solves a problem is created. Getting started is easy, but making $100 a month requires marketing and appealing to customers' needs. Once a successful product is established, maintenance becomes more manageable.

6. Online Course Selling

Creating an online course requires significant effort upfront, but it can generate passive income once it's set up. To make $100 a month, valuable knowledge needs to be provided and enough students need to be attracted to enroll. While maintenance is required, it's usually easier compared to creating the course itself.

7. Property Rental

Renting out property, whether residential or commercial, can provide a steady stream of passive income. However, it requires initial investment and ongoing property management. Once reliable tenants are found, it becomes a relatively low-maintenance source of passive income.

8. Peer-to-Peer Lending

Peer-to-peer lending platforms allow money to be lent to individuals or small businesses in exchange for interest payments. While it offers a passive income opportunity, there are risks involved, and careful selection of borrowers is required. Diversifying loans can mitigate some of the risks.

9. Dividend Investing

Dividend investing involves buying stocks from companies that pay regular dividends to shareholders. While it requires an initial investment, dividend-paying stocks can provide consistent passive income over time. Reinvesting dividends can also accelerate the growth of the investment.

Conclusion

Passive income is attainable, but it's not a get-rich-quick scheme. Providing value, building an audience, and investing time and effort upfront are required. Choose the passive income ideas that align with skills, interests, and financial goals. Remember, it may take time, but with dedication, multiple streams of passive income can be created, providing financial stability and freedom in the long run.