Pradeep676
New member
1. Bonds and GICs
A common method for passive income is investing in financial instruments such as bonds or GICs. The financial instrument protects your initial investment and offers interest payments in exchange for you lending them money. They are a safe investment, but the drawback is they offer lower interest payments.2. Investing in the stock market
There’s more risk in investing in the stock market as there are no guarantees, but the idea is to purchase shares in exchange for those shares to appreciate in value. The good shares will offer dividend payments as well.3. Rental property
Investing in rental property can be passive if you hire someone to do the maintenance and repairs in the building. Ideally the building you invest in will appreciate over time and you will be earning rental income each month.4. Royalties
A royalty is a legally binding payment made for the use of assets such as copyrighted works (books, music), franchises, and natural resources.5. Affiliate marketing
This is when you earn a commission for selling another’s product or service. Many bloggers and podcasters use affiliate marketing to add to their income streams. There is no work involved on your end when you sell other peoples products.6. Selling your own digital products
Creating an educational product to sell to others, creating membership sites and creating templates or tools to sell to others are a great way to make passive income. The work goes in at the start to create the product, but once that product is created, there is very little to do. Just watch your product sell.7. Fractional investing
Tech companies are disrupting the traditional methods of investing and allow people to invest in fractions which is more affordable. Real estate and stocks are crowdsourced and this makes investing more affordable.The bottom line is getting your money to work for you is a smart way to earn money. It frees up your time pursuing active income and it’s an excellent way to protect the value of your money. Ideally you are investing your money in appreciable assets that offer passive income as well.