26 Apr 2007 | Comments | Make Money Tips | Comments feed

10 easy tips to generate passive income

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Passive income is income that does not require your direct involvement. It comes while we are sleeping :). It is not actually too hard to get passive income. Here are a few easy ways to generate some passive income for you.

Create a squidoo lens

According to the Official Squidoo Lens,

“We believe that when you go online, you don’t search. You don’t even find. Instead you are usually on a quest to just make sense…There ought to be a way for you to talk about what matters to you, what 10 things matter to you, without the pressure of keeping it up daily (like a blog); and you ought to be able to make some money if someone buys something because you recommended it.”

I created a lens in 30 minutes about how to write a memorable birthday message. It generated US$0.43 in February 2007. The latest earning is not yet updated. Create your lens now by clicking here.

Create a commercial blog

There are countless ways to monetize a blog. When you monetize your blog, it becomes a commercial blog. To start blogging, register your own free blog at wordpress.com or blogger.com. However, monetizing from a free hosted blog is not that easy. I help people to host their commercial blog at my hosting plan too. Contact me if you are serious.

The easiest way to monetize a blog is using Google Adsense. Click the icon below to get started

Subscribe to Icapital.biz and buy the KLSE shares recommended

The current offer is RM199/year per subscription. It used to be RM99/year only before year 2007. I started my subscription in March 2006. I bought the shares recommended after reading the detail report written by their experienced financial analysts. My stock investment portfolio is doing pretty well all these time since the subscription. I have the peace of mind while investing in shares market.

Write a commercial pop song

This advice is only for those who are talented song writers. Refer my previous post about passive income for song writers: Earning passive royalty income from song writing

Increase your saving rate

You can save in Fixed Deposit, unit trusts, investment-linked fund, endowment plan or even a normal bank saving account. The more you save, the more interest you get. This is simple but yet ignored by most people for so long!

Join Multi-level-marketing

You know what I am talking about here. I believe that most probably you have heard of all kind of MLM programs more than I do. The easiest way is to join an MLM system which doesn’t require you to do sales or recruiting. I join ecosway. I don’t do any recruiting. All I did is using their ecosway credit card for my daily expenses and join their shopper program.

Becoming a financial product consultant

An insurance agent gets commission every year when a customer renews his policy. A unit trust agent will get residual income for his clients who practice Ringgit or Dollar Cost Averaging. If you are serious to know more, contact me for more details. Some basic requirements apply.

Buy-to-let

Buying a residential or commercial property and rent it to trustworthy tenants. Real estate investing isn’t for everybody, but it’s an industry that has attracted many successful and unsuccessful people. Educated or not, investors can be found in all ages and backgrounds but it seems that the only surety to success is found with experience.

Create an information product and sell it online

People are hunting for information all the time through the internet. If you know some special “know-how”, write an e-book and sell it online. You can sell it at ebay or lelong.

Participate in money game or Pyramid program

Personally, I don’t participate in this kind of program. The main reason is that I don’t want to earn other’s money without value added to them. There will be a saturation point where the lowest rank participant will be “sacrificed” and the program collapsed. If you are fine with that, maybe it is your cup of tea.

Reference:

Passive income

Web 2.0 Burnout?

Online Passive Income Dreams - Goals All Bloggers Should Have.

Do You Have What it Takes to Become a ‘Rich Dad?’

Boost up your adsense income by referral program

8 Ways To Earn Passive Income Online

Real Estate

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