3 Passive Income Ideas For 2018
In this competitive world, everyone must have a passive income source. In this post, we will discuss 5 future passive income ideas which can help you get started to have a secondary source of income.
# 1 – Shared Economy
- Nothing can beat the benefits of renting out your car, residential space, or rarely used equipment. If you spend most of your life at your office, you can rent out your apartment for teaching or co-working.
- If you have a car and you only drive the car for two days a week, you can rent the car out for five days.
- Once you rent more, people will start seeing your reviews and will contact you all the time. It is a perfect way to earn passive income in the future.
# 2 – Make Your Hobby An Income Source
- Do you love entertaining the people or have a certain hobby like dancing? You can share your information by maintaining a small video or content blog. You need to make sure that the content is original and entertaining.
- You can write a weekly or bi-weekly post with images to entice the audience. Once people start noticing your blog, you will have potential to become a bigger brand and earn money through advertising on your site.
# 3 – Become An Investor
- You can invest in startup companies or fund new brands. You can also buy shares of reputed companies and sell them later.
- After backing conservative investments and thinking of investment timelines in decasdes not weeks, this is a tried and tested method for generating a passive income in your retirement.
To really increase the rate of return on this type of passive income, regularly add 10-20% of your take home pay.
Avoid short term investments that are higher risk.