3 Top ways to start and maintain passive income

[Augusta]

It is always a good thing to have start and maintain your passive income. You still have to stick around even when you have structure on ground for your passive income. but you don't go to sleep. You need to water it to keep growing. So what are top ways you can employ to get it right.

Firstly, for a start you should know you needs some capital to kick start it. The amount depends on the kind of passive income you want to start . if you need buying rental properties or stocks you would need money.


You need to know that maintaining passive income requires both tiime and efforts.you need a good amount of time and effort upfront. So you need to create time for it.

Again, you need to always Update your passive income. Don't leave it just the way it was forever, it will depreciate in value. For properties renovate them, for websites update the content etc just try to always sir it attractive to people.

 

[Sotherefore]

There are a lot of ways passive income could be generated , it all depends on people that are interested to generate this passive income that will determine what they will do. Some people may be good in content writing and as a result they may decide to post content on Amazon and make money through Amazon Kindle..

It is not just about posting of content on Amazon Kindle but you have to carry out your own personal research to understand what posting of content is all about so that you can be able to do it in a way that you don't make mistake that may affect your possibility of making money.

What I am trying to say here is that if you're interested to make money in any way passively then you must take your time to study and understand how it should be done before you made attempt to earn from any ways you choose to concentrate on.

 

[moonchild]

Passive income is a goal every entrepreneur should aspire to be because it disconnects your time totally from your work, which translates you can make money while you are sleeping and you can make money whether you work or not, building a solid passive income is not easy and even when you achieve it you have to put in effort to maintain it to make it work efficiently.

For example, you can start a youtube channel and work very hard on it and get it monetized, your videos will keep on making money even when you sleep but the catch 44 here is, when you stop updating it and putting out content, your channel will be forgotten and a new content creator will take over your place, so even when you achieve passive income you have to be tweaking the system and put out new and engaging your users because is so fickle.

 

[oldbuddy]

I hate to be the naysayer here, but sometimes it just drops in your lap. I have been playing with a Bitcoin Faucet and eventually earned enough to buy Active Shares in that advertising business from my free Bitcoin earnings. Clicking Faucets is not passive, but those shares I bought have grown to 551,000 Satoshi and pay me 0.7% passive interest every day for 180 days, when I can just keep the money or put it back on deposit to earn more. That is as passive as it comes and it's not the only one I have like that.

 

[Mika]

Investing in real estate is the best way to build passive income. Some of the reasons are:
Your income will not be affected by the property market. Since you are not selling the properties and you are only collecting rent, the prices in the housing market do not affect your income.
You will generate cash flow. While most investments will increase your asset value, you will not receive any cash. For instance., if you invest in stock market, the value of your assets might go up but you might not receive the cash flow, however, with real estate you receive cash (by collecting rent)
If you have to invest in other markets, stocks, for example, you can start investing without any cash in your hands. You can burrow from banks to make investments in properties. However, you still need a downpayment and you need a lot of money for the downpayment. This is the major drawback.

 

[Suba]

If we only maintain passive income, it means that the amount is fixed or does not change, so I am more inclined to increase passive income, of course we have to increase the amount of investment, for example if there is idle money we buy stocks or mutual funds. In residential properties we not only have to repair the property to increase rental income, but we also have to save to be able to buy a new property. For websites/blogs, we don't only have to update content, but also how to increase traffic and be on the first page of search engines.