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Creating passive income could be as simple as exploring opportunities in your own home town. You don't have to be a jack of all trades, just a sharp observer of what your neighbors and friends need in your community. For example, have a used van, offer to drive your neighbors on the weekend or rent it to another drive and charge them a service fee for the use of your vehicle. It beats the truck or van just sitting in your garage and turns something you already own into a valuable income generating asset.
Have you always had a knack for fixing things? Make a few business cards and offer your services to your neighbors, churches or local community centers. Soon you have more customers than you could image.
Are you retired but not ready to give up the game? Consider online teaching. Experienced Teachers can earn money, set-up their own circulum and teaching materials and earn extra monthly income from the comfort of their own home.
Online platforms such as Robinhood offer investors multiple ways to invest their money for long-term gains. In many cases you can start investing with just $25 or a few hundred dollars down. Investing is no longer just for the wealthy, so whether you are a retiree, or planning for your future, investing with online platforms such as Robinhood, Public.com and Fundrise, can provide comfort, stable returns for years to come.
How much money or time can I invest upfront?
Do I want low risk / low return, or higher risk / higher return?
Invest in Dividend-Paying Stocks
Look for companies with the longest histories of consistent dividend payments and increases
Rent Inherited Unused Properties
Did you inherit a property that's just weighing you down? Consider, fixing it and turning it over to a property manager. You collect the income without the hassles
Sell Stock Photo or Music Licensing Rights
Can't get that tune out of your head? Record, upload it to AI and have AI make a digital recording of it. License old photos, music and your other ideas for online profitis.
Create an Online Class or Create a Mobile App
Do you have a great idea for cooking class or a mobile app that gets your kids up ontime. Type your idea into AI or find a developer to help you bring your idea to life.
You have extra money from your retirement or savings. Why not put it to good use for you. Signing up as peer-to-peer lending is a good way to share risk, and make smart returns on your idle capital.
Top Peer Lending Platforms:
Lending Club
Prosper
Republic
Kickstarter
StartEngine