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5 Ways to Earn a Passive Income & Quickly Increase Your Wealth

by Ethan more

If you’re working hard to progress your primary career or build your business, it can be difficult to find ways to make extra money without taking too much time away from your bigger projects. Some side hustles require so much effort that the benefits hardly seem worth it. If you’re wary of those solutions, there are plenty of ways that you can earn a supplementary income with very little stress!

Whether you’re looking to invest or take on a creative project, you can earn a passive income that helps you build your wealth without draining your time and resources. If you’re looking for easy money-making methods, see if something from this list might work for you!

Invest in Index Funds

A great way to start making money without any effort at all is to invest in index funds. Unlike more volatile stock options, index funds offer a way for investors to take advantage of the market passively. This allows you to sidestep a lot of the stresses of investing–like buying and selling individual company stocks to balance your portfolio–and sit back and enjoy your earnings.

Make YouTube Videos

If you’re hoping for a slightly more hands-on project, you can try making YouTube videos. If you have a skill or hobby that you’d like to share, you can film, edit, and post videos that educate and entertain a global audience. Initially, you can earn revenue from ads placed on your videos, but this opportunity has potential for growth.

YouTube videos on certain subjects can attract sponsorships from relevant companies and vendors, allowing you to make deals with individual brands for product endorsements or sponsored content. If your channel manages to become large and successful, you could make significant earnings for only hours worth of work.

Rent Out Your Property

Another profitable and passive investment opportunity that might appeal to you is purchasing a rental property. If you have the available funds, you could buy a home or condo to rent out and earn a consistent monthly income that requires little work on your end. 

If you’re looking for the least demanding option, try out short-term rentals. Depending on how much you want to spend upfront, you can either buy a vacation home outright or simply rent out a room in your house to start. If you’re curious how much you could make through your rental, you can calculate potential Airbnb earnings online and decide if this is the right option for you before you take the plunge.

Sell Your Art

If you already partake in artistic hobbies like painting, drawing, or photography, you could start listing your work online and sell prints for a profit. This is a great way to do what you love and make money at the same time. The only time that you’d put in is what you spend creating a new piece, but if you enjoy being creative, it will hardly feel like work. 

After you complete a project, you can post it to an online platform that doesn’t require any extra work on your end. Many sites, like Society6 and Redbubble, allow customers to purchase prints without the original artist having to produce them. Alternatively, you could opt to sell original works on Etsy and complete sales without having to manage your own website.

Write an eBook

If you have ideas or knowledge that you’d like to share but visual arts and video content aren’t for you, try writing a book and publishing it online! After writing, you can sell your work as an ebook through Amazon or another digital retailer for easy income. No matter what topic you choose, there is likely an audience out there for your work.

If any of these options stick out to you, try them out for yourself! You’ll be making money in no time without taking away from your most important work and business goals.

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