Earn Money Online » Tips and Tricks » 50 Best Passive Income Ideas For You In 2020

50 Best Passive Income Ideas For You In 2020

Passive Income Ideas that make while you sleep

Do you want to make money while you sleep? If yes, then you must read this article. Hereby, in this article, I have shared the 100 unique ways to earn money while you’re sleeping.

But before starting with the article, please tie a knot – The art of making money in your sleep is not an easy job. It is not as simple as set it and forget it. It requires lots of planning and investment of time and money to start generating passive income in the future.

If in case you are looking away to generate money without doing anything then please stop here. This article is not for you.

This article only includes different ways to earn Passive Income. This will get success only if you work hard and delicately for the long term.

What Is Passive Income?

Passive Income is income that you earned from a source other than employers or primary business in which you are actively involved.

For example, Income from Rent is a passive income. You will get this income over and above the salary you received from your employer. Next, in this case, you don’t need to participate actively to get this income.

This income will get generated automatically at the end of the period say weekly, monthly or yearly.

Dividend Income generated from the Stock Investment is another good example of Passive Income. Once invested, you will start getting the dividend as and when issued by the company.

You can also call this kind of income as Secondary Income or Second Income Stream.

Why Passive Income Is Important?

Whenever I think about the importance of having passive income, it reminds me of two famous quotes/sayings:

  1. Never put your all the eggs in one basket – God forbid but just imagine, What will happen if you lost your current job? You will get unemployed and your financial condition will get worsen. Right? But, what if you have another source income available? In such a case, your financial condition will not get worse even if you are fired from your job. Hence, never put all your eggs in one basket. It means you don’t depend solely on your current job. Instead, try to build another passive income source also.
  2. If you don’t find a way to make money while you sleep, you will work until you die – This famous quote was given by Warren Buffett, billionaire investor and co-founder of Berkshire Hathaway. He made billions of dollars by investing in the stock market.

From the above two quotes or sayings, you can easily understand the importance of passive income in your life.

Trust me, passive income has many benefits for you. Some of them are given below.

  • No worry and Stress-free life
  • Financial Freedom
  • No need to work on 9 to 5 job
  • You can fulfill your dreams easily etc.

What Should be your Passive Income Strategies?

The strategy is simple. Think for the long term period and invest your time and money from a better future.

I started my first online store in 2011. Today, after completing 8 years, I am generating a very good amount of passive income from it.

I know, many of you will say, 8 years is a very long time. But before coming to any conclusion, just visit my online store selling embroidery designs and have a look around.

Today, EmbroideryShristi is having more than 11k customers across 80+ countries worldwide.

Next, EmbroideryShristi is now generating passive income without any kind of active participation in it.

Still, Worried? No problem, Just read out the below paragraph.

You will start making money within one year of starting your business. It will only take time if you want to generate passive income from it. Next, you don’t need to quit your full-time job to implement them. It can be implemented simultaneously along with your current job.

So, What are we waiting for? Let’s dive into 100 unique passive income ideas below.

make money while you sleep
make money while you sleep

100 Best Passive Income Ideas

  1. Buy a house or commercial property and rent it out
  2. Invest in a stock or commodity market
  3. Fixed Deposits your savings
  4. Start showing advertising on your Blog and YouTube channel
  5. Start an online store selling digital products online
  6. Invest in a profitable business of someone else
  7. List out your place at Airbnb or Oyo rooms
  8. Rent out your Car
  9. Invest in Mutual Funds
  10. Invest in schemes like National Pension Scheme (NPS) etc
  11. Start an affiliated online store
  12. Use a credit card and start accumulating its reward points
  13. Start using a cashback website or app
  14. Royalty Income
  15. Use your car for billboard advertising
  16. Share your data like browsing habits etc
  17. Get paid to install any application on your smartphone
  18. Get paid for watching advertisements or videos on your computer screen
  19. Get paid for listening to music and playing games
  20. Create a mobile application
  21. Network Marketing
  22. Peer to Peer lending
  23. Make use of Online Arbitrage
  24. Rent out extra space at your house or premises
  25. Flip domain names
  26. Become Social Media Influencer
  27. Create and Sell Online courses on Udemy
  28. Pay off your old debts
  29. Drop Shipping Business
  30. Vending Machine Business
  31. Sell your established business
  32. Open a saving bank account
  33. Product Designing
  34. Sell your photos online
  35. Lend your name and get paid for royalty
  36. Social Media Marketing. Get paid for promoting products or services on your social channels.
  37. Invest in digital currencies
  38. Take Online Surveys
  39. Become a deemed/silent Partner
  40. Learn to re-purpose your work. For example, convert your ebooks into audiobooks and then sell it online.
  41. Upload all your school and college project reports and other resources online
  42. Freelancing Work
  43. Content Writing. There are online websites that pay a good amount of money for the content.
  44. Start a Web Consultancy Business
  45. Private Label Product
  46. Real Estate Flipping Business
  47. Mystery Shopping
  48. Build a custom software and get paid for it on its renewal
  49. Sell Leads
  50. Website Flip

What Is Your Passive Income Idea?

Always remember, one passive income idea will never work for you. Always try to implement more than one passive ideas. Together, it will make a great impact on your life after retirement.

Next, Are you making a passive income? What are your ideas? Please don’t forget to share your ideas with us in below comment box.

1 thought on “50 Best Passive Income Ideas For You In 2020”

Leave a Reply

Your email address will not be published. Required fields are marked *

four × 4 =