Fortunately, there are a number of passive income sources. Some, like dividend investing, require more volatility than others, but over the long term they can provide you with a healthy source of income. Other, like real estate, are fixed, which means you’ll earn an income each month. And, while these sources may not be as quick as a side hustle, they can provide you with the freedom to do what you want, when you want.
How do I make passive monthly income?
Dividend paying stocks are typically well-established companies that pay investors a regular dividend. However, the rates are relatively low compared to real estate. And while the risk is lower, you’ll need more capital to invest in these stocks.
If you’re a creative person, you can create digital products and sell them on websites such as Etsy. This can be a lucrative source of best passive income sources | Go X, but it can take time to build a large audience. In addition, you’ll need to spend money on a host website. You’ll also have to maintain inventory.
Creating video content can be a great passive income source, as well. You can target a specific audience and make your videos fun and entertaining. Plus, you can add fresh content each month to increase your traffic and revenue.
For people with a strong aesthetic eye, you can sell digital art licenses. For artists, this can be a good way to get their name out and start earning a passive income.
You can use spreadsheets to track your income and budget. You can also turn your work into templates to be used by other businesses.