Caveat: There is no shortcut to do any of the following; you have to put effort.
I have been exploring to make money online (MMO), primarily passive income streams, since 2016. There are many people making money while sleeping. I believe we can emulate the process by just hitting the right spot.
I accidentally discovered passive income stream by reading a blog back in 2016, followed by many failed projects. I put a lot of money into dropshipping, but it did not work out somehow, my timing was wrong.
If you do not find a way to make money while you sleep, you will work until you die.
— Warren Buffett
Here I am going to share a couple of things working for me, and I believe they will work for you too if you promise to work hard for a productive passive income future.
Affiliate Marketing
I get it that many people do not even like affiliate marketing. This is one of the most lucrative ideas I had back in 2019. All its need patience and shamelessly sharing links on your social media via blogs, short stories, Instagram, Pins, etc.
I do not know how many links I have shared since 2019 that produce passive income month over month. I must say it’s a seasonal business, close to the holidays; the links click rate is really high, which can bring more revenue. I primarily use the Amazon Affiliate program. But there are many to get in; however, all need a primary blog, a YouTube channel, or some organic traffic idea and/or Pinterest account.
Pro Tip: Start with Amazon Affiliate Program; I think that’s the easiest to get accepted.
Blogging
Maybe some will say blogging is dead. Blogging is not dead, and it will never die. Blogging is dead means readers are dead. People will keep sharing their life stories which are called blogs. As we can see, video culture is almost everywhere with the fast speed of the internet: Youtube, TikTok, etc. But a reading demand is also increasing. People are searching more for the best reviews before buying the product.
I started a couple of blogs then sold them primarily affiliate marketing websites. Now I started another one from scratch under my name for the long-term goals. I decided to write at least one article daily to generate organic traffic. If I pay enough attention, it will start getting organic traffic 8–10 months by Google searches ranking. I will share my bogging story at the end of the year.
Note: I will incorporate affiliate links into my blogs to focus on passive income.
Investing
Being an economic immigrant, investing, or I would say saving is always a big part of my life. I started to invest back in 2017 monthly. I took some significant risks and lost a lot of money, but hey, it’s learning. Now I am more prepared to invest. Here are the top 3 investments I am doing and a couple of them anticipating to do in the next year, especially the Real Estate.
Successful investing is about managing risk, not avoiding it.
— Benjamin Graham
i) Stocks
I used to invest in risky stocks where I lost a lot of money without knowledge. I still invest in risky stocks, but my approach is more data-driven than just reading something or getting in a trap after reading someone’s blog or watching a YouTube video.
My suggestion for new investors is to simply put your money in the S&P 500, which grows 10% per year on average. Meanwhile, learn the sticks market and start to take big risks. Right now, I put 30% into risky, or I would say growth stocks, and 50% into bluechip markets.
ii) Crypto
Currently, I am putting 20% in my crypto stocks, mainly in ETH and BTC, or sometimes I take risks based on the market situation or just being silly.
Caveat: Do not put the money into crypto if you are not ready to lose it all.
iii) Real Estate
Real Estate is the long-term strategy; I plan to buy a couple of rental properties in the next few years and an AirBnB close to the tourist spot. More on this later!
Medium Writer
I was always shy to share my thoughts in front of the public. Medium is the platform I started to write on last year in Dec, and I made a pact to write at least 100 stories in the next 100 days. I am on day 20 and have already produced 20+ articles. You are welcome to join the challenge.
Medium platform can be lucrative if you are willing to spend some time; I am mainly using Medium to share my life stories and, at the same time, polishing my writing. When I joined Medium, I had no idea its possible to monetize my writing at Medium. Last month, I made over $27 in my first month. Thanks for the coffee, Medium!
Start a Youtube Channel
To start a YouTube channel is one of the best ways to make passive income if you are willing to share at least 2–3 videos per week. I started a youtube channel back in 2019, uploaded 3 videos. However, I made a huge mistake of sharing that I have a YT channel with family and friends. People started to make comments in a social gathering, which made me feel awkward, and I deleted the videos; I wish I dared to keep going.
Now I will start again; I plan to share with the world except my close circle to produce at least 1–2 videos per week for at least a year.
Note: I do all these side hustles while working full-time. Mostly I work 10–12 PM or 6–8 AM on my personal projects.
Book Recommendation: The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It (Amazon affiliate link)
Thank for reading!
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I wish you happiness and good health. This article was originally published on another platform. If you enjoy writing, you can join Vocal as a creator to find your voice and reach out to a broad audience. I also write on Medium and NewsBreak.
