Hi from Nusa Dua, in Bali. I’m currently enjoying the resort life and the great WIFI! I’ve found the WIFI a bit crappier than I remembered here in Bali, so it’s been quite challenging to stick to my posting schedule, but I’m doing alright!
Passive income streams are really the holy grail of income – it’s money you generate without lifting your finger. You can be making money while you sleep, socialise with friends or lounge on the beach. It doesn’t matter what you’re doing, the dollars keep rolling in…
While my work is great, it’s not passive. I sit down for a few hours each day, send out emails, organise posts to go up and so forth.
Lately I have been thinking about Passive Income Streams I want to start exploring in the not-so-distant future and I figured I’d share them here on my blog, let me know what you think!
Stocks:
I know a few friends who have invested in shares/stocks and have done quite well for themselves. I am not really an expert in this area so don’t feel comfortable investing large sums of money into a concept I know very little about. However, I would look into something more along the lines of managed funds, sooner. There are a number of companies through which you can explore managed funds, or managed portfolios. If you’re looking for something a bit more private, Killik & Co offer unique solutions for individuals. I think I would personally try something more generic to get my toes wet, so to speak. I really enjoyed playing around with Bitcoin as an ‘investment’ so I’d like to try something a bit more seriously sometime in the not too distant future, after I’ve paid back my student loans.
Adsense/Affiliate Income:
There are lots of people making serious coin from passive income derived via Adsense or Affiliate marketing. I would love to get my hands on some of that! When I first started learning about making money online, probably around 4+ years ago, Adsense income was actually my first interest. I didn’t know about sponsored posts, but there was a lot of info on Adsense, so it seemed interesting. I made a site (about a topic too embarrassing to share) and waited for the money to roll in. It never did. Although I’ve learned a lot in those past few years and could probably do quite well with a site like that now, I haven’t. This is a direction I definitely want to head in.
Property Ownership:
I was actually thinking of getting into property this year – first I was considering buying a home in New Zealand to rent out for a weekly fee, in order to pay the mortgage off and eventually have an asset, but I decided against that. Second, I was thinking of buying a property somewhere relatively ‘cheap’ and renting it out on AirBnb for a profit. I’ve decided to hold back on that idea as I have noticed a LOT of countries/states/regions clamping down on AirBnb rentals so I’d like to wait it out a little while.
That’s all I have in my mind right now about passive income. Do you know of any other streams? I would love to hear them!