Three Passive Income Sources That Will Make You a Fortune

[Jasmine]

If you do not want to live by pay check to pay check, if you do not want to check the price tag before buying things that you want, and if you want to live a life like you want to, you need to build multiple passive income sources.

Here are 3 passive income sources that will make you fortune:

Dividends: Dividends are the returns on your investment. First of all, you need to buy stocks in various companies. When the companies you have invested on starts making money, you get dividends. Invest in the share market and receive dividends for your entire life.

Youtube: Youtube is semi-passive income source, you cannot just sleep and expect your youtube channel to generate money, you need to constantly make videos and market your videos. But if you are a good content creator and marketer, you can generate really good income because every video you have published will continue to generate money for you as long as they receive traffic.

Dropshipping: Dropshipping is an automated business that can build you a good passive income. You invest in a dropshipping store once but you will continue to make money for a long term, all you need is to give 1-2 hours in a day. Only downside of dropshipping is you need to constantly promote your products through ads.

 

[Moses Waithaka]

That's good information for I have been enlightened.

 

[Mika]

With the evolution of mobile phones, now everyone is a videographer, and creating videos is just like snapping fingers. Youtube pays you 55 percent of the income generated by the ads on your video. However, in order to earn from youtube you need to be a good video content creator and digital marketer. You did not mention affiliate marketing, which is also a good way to make koney. Affiliate marketing is similar to dropshipping in the sense that just like dropshipping, you don’t have to spend money on products that you want to sell. If you have high-traffic websites, affiliate marketing can do wonders.

 

[moonchild]

I really like YouTube and I have a resolution of either going into blogging or YouTube, I just want to have a way of making passive income, because it's really helpful, you don't even have to do much, everything is just on autopilot.

I also want to tell people that, you don't have to wait to till you have all you need before you start these things, you can start with the little you have, what matters is what you have to say not the medium used, so if it's youtube you can start with your phone pending when you get a camera and if it's blogging you can start writing yourself before you get enough to hire a SEO writer.

 

[Jasmine]

Youtube is good for earning passive income. Youtube is not entirely a passive work as you wil have to constantly develop content and promote your content. But if you have managed to build a lot of subscribers and get tons of views every day, you can earn really well from youtube. The best thing about earning from youtube is you can use various methods not just adsense, for instance affliliate marketing, subscription, sponsorship, etc.

 

[cmoneyspinner]

Dividends: The best kind of stocks are the ones that pay dividends. You can either receive a dividend payment deposited to your bank or reinvest them.

Youtube: Let's assume you are getting traffic to your YT videos. The easiest way to earn is to upload a popular music album. If you are an Amazon affiliate, put your link in the description in case the person wants to buy the music.

Dropshipping: I tried this it was not easy!! It sounds like it's easy. But it was not easy!! On top of that, I signed up for what I thought was a FREE account and after several months they wanted to start charging me a monhtly fee. What? Pay a fee and I am not making any money from my dropshipping. Forget about it!

 

[Mika]

That's true. Dropshipping sounds like an easy way to make a lot of money. You do not have to spend money on product development or acquire products, you can start with zero cost on wordpress and woocommerce, but sadly dropshipping is a competitive business, you cannot generate sales easily. I have created a couple of dropshipping stores for my clients and sadly, none of my clients are making money from their stores. You wil have to spend a lot of money in advertising, still you may not be able to sell even a single product. How can you compete with already established stores.

 

[Deleted member 13140]

Well I'll start with YouTube... its starting to lose its passive income definition.. atleast for me.. recently getting traffic or well getting noticed or YouTube is becoming very difficult.. a New channel won't find it easy anymore..
No Matter the thumbnail you use or strategy it'll be the same.. except you either tap into a new niche or draw traffic outside YouTube.

Also am a fan of stocks but only if you can be patient because stock investment is very risky and doesn't yield money fast..

I tried to do a bit investment with $20 now it's at $9.. yet I left it... with the notion that in time it'll increase