On March 11th, I had written an article on the Best Residual Income Businesses. At this point, however, and because so many people are trying to find ways to earn income, I’d like to focus briefly on some of the easiest passive income ideas that people can implement sooner rather than later.
I’ve chosen a Top 5 list. These Top 5 picks do require that you have a computer, a camera, or a smart-phone, and/or some monthly cash flow to begin. So, out of that earlier list, here is my pick of the Top 5 easy passive income ideas:
1) Write – A “one-time” effort would be to write articles or e-books on whatever you can think of or whatever topic you may know about more than other people, in general. Of course, you can always let your imagination run wild and write something totally fictitious as well! Maybe there’s another J.K. Rollings hiding within!
2) Invest in Dividend Paying Stocks – If you’re going to invest in stocks on any type of regular basis, then you should consider one of the online low cost stock brokerages that allow a set amount a month to be invested in whatever stock you have chosen. Although there are pros and cons, at the very least, you will earn dividends on your holdings. Otherwise, what’s the point?
3) Photography – Another “one-time” effort. If you already have a quality camera, and while you’re out walking dogs, or taking a jog, take some scenic pictures or even become the go-to photographer for pets! An alternative to outside or pet pictures would be to create metaphors with PhotoShop or what-have-you, and upload your pictures for re-sale with the many online outlets that supply pictures. You will earn royalties for years to come from your one-time effort!
4) Tax Lien Certificates – You can limit the amount invested, and just re-invest the growth from then on. Many tax liens are available for low cost. There are pitfalls, however, so just remember, never invest an amount you don’t wish to lose – until you learn the ropes. Invested amounts can earn high amounts of interest which can then be re-invested time and time again to grow your money over time.
5) Infinite Banking Concept – This is the absolute easiest way to earn passive residual income! There’s no work, just buy a policy and let it grow! If you can’t buy a policy on yourself, many times, you can buy and control a policy on a child relative. Policies can be started as low as $25.00 month, and as you build your cash reserves, you will be able to use these funds in the future for purchases – without taking out a bank loan and paying interest on a “debt.” Polices should be set up through IBC Practioners who are well versed in this concept to maximize your earnings. Once these policies grow to a certain point, typically anywhere from 3 to 5 years old, you may even stop paying the premiums (if you wish), and just have the account fund itself while you start another. Yes, there’s a way to do that, and that is how the rich get richer… Talk about “passive income!”
To learn more about IBC, I highly recommend reading Nelson Nash’s book “Becoming Your Own Banker: How to Unlock the Infinite Banking Concept.”
All in all, I would say out of that previous list, these are the easiest passive income ideas that don’t require much work, prolonged work, and in one case, no work at all! To read the full article, please go to the Best Residual Income Businesses for even more ideas!
As always, if you have any questions, concerns, opinions, or if you wish more information on IBC Practioners, please let me know in the comment section below. I am affiliated with a national brokerage of IBC Practitioners, and no matter what state you’re in, we can get you in touch with a Licensed IBC Practitioner in your state.
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