Earning Residual Income Through Dividend Paying Stocks: Let Your Money Make You More Money

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No physical products means no inventory or shipping hassles. Buyers simply purchase your design and download it to their computer. CafePress : If you have a really cool design, you can turn it into merchandise and sell on CafePress. All you have to do is upload your design, and CafePress can put it on anything, from mugs to notebooks to apparel. They will handle the payment and shipping.

Merch by Amazon : Similarly, Merch by Amazon allows you to upload your artwork to be put on products. When someone buys it, they will make the product and handle the shipping. Since you probably drive anyway, why not make some money while you do it? No, we're not talking about Uber.

Many companies pay people to advertise using their ride. Check out sites like Carvertise or Wrapify. You'll need to get approved before you begin. Don't worry--your driving record doesn't matter. Companies care about where you live and drive so they can get as many eyes on their ads as possible. Passive Income for Doctors With mountains of student loan debt , it's no wonder that many doctors are looking for side hustles.

2. Invest in index funds.

The ideal passive income gig should be lower risk with less effort. Open a high yield savings account. Refer your friends for student loan refinancing. Many student loan refinancing companies give you cash for referrals and your friend may even get a bonus too. Participate in medical surveys. Create exam guides.

Saving Apps

Still have all your med school notes? Create guides to help current students with their medical exams. YouTube gets billions of views a day. This built-in audience is always ripe for new content. What kind of videos do I find entertaining? What do I know that others don't? The goal is to find something unique, whether it be funny, educational or just plain weird. Give it time and hopefully, the viewers will find you. If you're successful, you can begin to pursue advertising revenue, which can lead to substantial passive income.

Content creators are constantly adding new videos to Youtube so you'll need to find a way to standout. Use social media sites like Twitter and Instagram to boost your Youtube channel. We recommend steering clear from controversial topics like politics but strive to find cool ways to "go viral. If you have a website or blog, use affiliate marketing to make referral commissions with partner stores. Mention a company's product on your site to make a commission whenever your readers purchase it using your link.

The Amazon Associates is one of the most popular affiliate programs. This method isn't completely passive - it takes a lot of time and hard work to build an audience and you'll need to provide consistent, high-quality content. But once you have a large following, affiliate marketing can provide a nice stream of income. An easier way is to buy an existing site with a built-in following. Flippa is a marketplace where you can find websites for sale.


Dividend Investing: The Ultimate Passive Income Source • Money After Graduation

Another option is using ads, such as with Google AdSense. You'll earn money when your readers click on an advertisement. There's less money to be made but also a lot less work. Already own a business but mystified by affiliate marketing? LeadDyno explains how to start an affiliate marketing program in minutes and what to expect. Do you have a hobby you know inside and out? Chances are, others don't have the same knowledge. They may even pay for a course on the subject.

What is Residual Income?

Developing an online course takes time but very little maintenance once it's complete. Several websites like Udemy and Teachable offer platforms. Consider the market before making an online course. You'll need a subject that's obscure enough that it hasn't been covered BUT interesting enough to find an audience.

Passive Income Ideas You Can Start Today

In other words, Introduction to Paint Drying is probably a bad idea. Take advantage of their built-in audience. You may also want to sell course packages of varying prices to appeal to the masses. For self-published authors without a following, non-fiction e-books like "how-to's" tend to fare better than fiction novels. Once you finalize your manuscript and design a cover, you can upload the book to a self-publishing platform.

We like Amazon Kindle Direct. Maybe you wont copy the success of Candy Crush. But you can use creator Tommy Palm's story as inspiration to build your own app. Got a developer friend with whom you can split the proceeds? Or maybe you have some tech talent yourself. Start brainstorming an addictive new game OR a helpful feature to a common problem.

There's an app for almost everything today. If your app accumulates a following, you might want to consider maximizing business with email marketing.

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Digital Nomad Wannabe provides a thorough comparison of the top email marketing platforms to help you decide. Compose some music. Write a great book. Design a fun product with CafePress.

Ranking The Best Passive Income Investments

Make something valuable that people love, and you could collect royalties for a long time. Some writers and content creators receive checks decades after all their hard work ended. Selling a domain name can be huge money. The trick is to come up with one that sounds like something a future business would buy. Research what keywords are trending right now. You'll also have better luck if you choose a specific niche. Use websites like GoDaddy and NameCheap to find unregistered domain names and snatch them up. If you snag a popular domain name, maybe consider keeping it for yourself.

This guide from Andy Sowards breaks down everything you need to know about turning your domain into a profitable blog. You can rent out equipment, tools, and other household items using websites like Craigslist , Nextdoor , and the app Peer Renters.