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How To Earn A Passive Income In 2020

how to earn passive income online revenue streams

Once you successfully clear a few hurdles, earning money even without actively working for it is a sweet deal. Not to mention that it’s also an excellent way of regularly augmenting your income. It’s no wonder why income-minded individuals consider passive income somewhat of a Holy Grail. 

Generating passive income is really something that could go a long way in helping you achieve your goals in life – whether it’s saving money for retirement or becoming financially free. 

Read on below to learn 6 ways how to earn a passive income to power your existing wealth-building machine this year. 

1. Make Money From Your Everyday Purchases 

Did you know that you can actually earn money by redeeming cash backs on your everyday purchases? Yes, you heard it right. What you can do is try earning points when shopping online from places, like Starbucks, Walmart, and Amazon through rewards programs, like Swagbucks and InstaDollar. You can redeem the points you’ve received for gift cards, which you can use in your favorite stores or cash back via PayPal. 

The good thing about these rewards websites is that you can also earn extra points for answering surveys, browsing the web, and watching videos – things that you’re already doing online. For instance, with InstaDollar, you can even earn residual income by playing games and simply checking your email. 

If you’re searching for legit ways to get paid for doing almost nothing, then this is something you should really consider trying. 

2. Use Crowdfunding To Invest In Real Estate Properties 

In the past, the only options investors have if they want to delve into real estate properties are investing in REITs (Real Estate Investment Trusts) and buying physical properties. The cost of real estate investing using these methods can get significantly high. 

Fortunately, crowdfunding has already been introduced in the market. Crowdfunding services allow you to participate in much larger real estate deals by becoming a partial investor. 

If you want to try investing in crowdfunded real estate, check out crowdfunding websites. It’s possible to take part in a large-scale commercial or residential real estate project by only investing a relatively small amount using these sites. Most of these projects are those you otherwise won’t have the ability to jump in on. 

Crowdfunding is the process of pooling cash from a large population of individuals to fund a massive real estate project. Over the past several years, crowdfunding services have significantly increased in volume. 

3. Invest In Dividend-Paying Stocks 

When investing in dividend-paying stocks, you’ll have the option to dump the dividends you’ve earned into your account so you could withdraw them. Most brokers, however, will encourage you actually to reinvest your dividends, which is ideal for those who want to develop a passive income stream. Yes, stocks that pay dividends generate passive income, and they’re actually the sexiest investments you can have. 

When a company you’ve invested in makes a profit, it returns a portion of the profits back to the investors. That’s how you receive your dividends. 

More established enterprises that have high cash balances and low debt usually give dividends more often than younger ones still looking for growth. 

how to create passive income

4. Rent Out A Bedroom In Your House 

One excellent way of earning a passive income is renting out your place, especially if you’re going out of town or on vacation. 

If you’re one of those who mostly just stay at home, though, you can opt to rent out a spare room through Airbnb if you have one. The good thing about listing your room through Airbnb is that you can decide on the availability of the room. It’s also totally up to you to make the rules that guests should abide by. Of course, you’re also going to be the one to set the daily rate. 

Airbnb offers insurance in case something wrong happens while renting out your spare room. The website also implements a rating system, so owners like you can review the reputation of the renter before you let them in your place. Yes, it might feel weird for some people to leave their space in the hands of individuals they don’t know much about. Still, rest assured that online marketplaces for offering and arranging to lodge are taking measures to protect the interest of homeowners. 

5. Create An Online Course 

You might consider writing a book and self-publishing it as another way of earning a passive income this 2020. However, with the continued advancement of technology, it’s worth trying other ways of earning cash passively through content that actually is easier and quicker. 

One new option you have is creating an online course. In the past five years, online courses have exploded. Thanks to technology, creators and experts can now easily create video courses and teach others their craft. The effort can be compared to writing a book, but online courses are easier to sell once done and can really be a solid passive income stream.  

6. Network Marketing

You can also start a network marketing business for a powerful way to generate a passive income stream. Network marketing is a $200+ Billion a year industry with over 100 million distributors worldwide. There are many types of network marketing businesses, from crytpocurrency, education, meal replacement shakes, and many other niches.Network marketing offers minimal risk (cancel anytime) and small overhead (some MLMs you can start for free). 

View our list of recommended companies HERE

Earning A Passive Income Is Actively Awesome 

The ones above are only a few of the multitude of ways one can start earning a passive income in 2020. In creating a passive income stream, all you need is any type of creative ability and the drive to succeed in life.

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Bảo Phúc Automatic Gates & Doors
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