Try These 7 Passive Income Ideas Today
Having a reliable extra income stream without much effort isn’t just the stuff of dreams.
With these popular passive income ideas, it can be a reality. Passive income is an additional income stream, something not from your main employer, where you are not actively involved.
Yes, you’re able to bring in tons of extra dough without much of a time or often financial investment. Some common examples of passive income include investing in rental properties that are managed by someone else or a separate entity or investing in a business while not participating in the day-to-day work.
Passive Income Ideas You Hadn’t Considered
And that’s just the beginning. Here’s a look at 7 other passive income ideas that can help you make some easy extra cash right now.
1. Get Involved With Affiliate Marketing
If you run a website, are considered an influencer on social media, or host a popular podcast or blog, then affiliate marketing is likely one of the best ideas for you to consider.
With affiliate marketing, you simply promote a product offered by a third party via a link posted on your social media feeds or website. Big names like eBay and Amazon are very active affiliate partners, especially if you run a TikTok or Instagram feed with a large following.
2. Try Crowdfunded Real Estate
If you don’t feel like investing in rental properties on your own, another one of the growing passive income solutions is investing in real estate with others via a crowdfunding platform. With this approach, there’s no need to deal with repairs or difficult tenants.
Instead, you are part of a team that reviews properties and pick the best ones to invest in — aka which one you are comfortable with. For amounts ranging under $100 to thousands, you are a real estate investor just by paying a management fee each year to a real estate platform that handles the work.
3. Look Into Dividend Stocks
Investing in dividend stocks is one of the most common ideas for a reason. It’s a reliable way to earn residual income without having to play somewhat of a guessing game with the stock market.
All you have to do is find a dividend account with a top online brokerage firm and sit back and reap the rewards.
4. Or Try Money Market Funds And High-Yield Savings Accounts
Both money market funds and high-yield savings accounts are basic but reliable passive income ideas. High-yield savings accounts are FDIC insured and found through banks, while banks and investment companies can help you start a high-yield savings account.
Both should yield safe income streams even as interest rates rise.
5. Become A Business Investor
Sure, investing in a business is a little riskier than some of the other ideas on our list. But if you pick the right business to be a silent partner in, there could be some very high returns coming your way.
For example, not long ago Uber needed private investments. Today it’s worth billions and those who invested early benefitted when it went public.
6. Become A Peer-to-Peer Lender
Through peer-to-peer lending, you will be lending a set amount of cash to a third party through a viable investment platform. When the loan amount is paid back, you’ll begin to earn interest.
Yes, it’s a little risky, but you can minimize the risk by spreading out your investments across a slew of different loans.
7. Consider Pursuing A Flex Loan
Loans are another option to get the passive income you need, especially if you’re dealing with a financial emergency. Flex loans are also known as line of credit loans and are a form of unsecured and secured lending where you’re in charge of your credit limit and the amount you borrow at any given time.
At Tennessee Title Loans, Inc., you may qualify for up to $4,000 in assistance. All that’s required is proof of income, the lien-free title to your vehicle (it’s used as collateral in exchange for the loan), a driver’s license or state-issued identification, and your vehicle for a quick inspection that determines how much of a loan you qualify for.
It can take as little as a half-hour to qualify, and you keep your car for the duration of the loan.
The flex loan process is easy. Just complete the online form and one of our loan representatives from a location nearest you will give you a call to guide you through the process.
Bring the required items to us, fill out some paperwork, and you get the cash you need that same day or the next business day.
Get Started Today
There are many passive income ideas that can help you earn some reliable cash with minimal work. Flex loans help you overcome a financial emergency and you just need to pay the loan back over time. Get started today with Tennessee Title Loans, Inc.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.