Do you think it’s possible to build a blog from scratch, outsourcing the work from day one (assuming I have some cash that can cover the initial expenses until the blog generates enough income to at least break even)? In other words, do you think you could you have spent your $500 max per month for the writer, social media expert, etc to build your blog to the point it’s earning the same amount of money it does now?
Track Your Wealth For Free: If you do nothing else, at the very least, sign up for Personal Capital’s free financial tools so you can track your net worth, analyze your investment portfolios for excessive fees, and run your financials through their fantastic Retirement Planning Calculator. Those who are on top of their finances build much greater wealth longer term than those who don’t. I’ve used Personal Capital since 2012. It’s the best free financial app out there to manage your money.
I truly believe generating $10,000 a year online can be done by anybody who is willing to dedicate at least two years to their online endeavors. Here is a snapshot of what a real blogger makes through his website and because of his website. Roughly $150,000 a year is semi-passive income followed by another $186,000 a year in active income found through his site. Check out my guide on how to start your own blog here.
Bullshit. If you have a job, you have marketable value. Maybe it’s low value, if you’re flipping burgers, but you can create value somehow. I don’t care if you have to start out by re-renting the parking spot in front of your apartment, you can find, create, or buy something valuable worth repeatedly selling or renting, or you’re not thinking hard enough. Here’s a free idea: A lot of people want to play with 3D printers. Get 5 of your friends together and buy one. Put up a website and a listing in the local paper. Charge $50/h for printing. Set up a system that verifies if payment has been submitted and then automatically prints out the files that have been emailed to you. Split the earnings with your friends. Boom. You have passive income.
But first, let’s about talk passive income! What is passive income? There are many different definitions out there, but mine goes something like this: Passive income is all about building online businesses that can work for you, that allow you to generate income, and grow and scale, without a real-time presence. In other words, you don’t trade time for money. You build something up front that can continue to work for you over time.
Many people choose not to take this route because they get intimidated by complex applications and technology. The truth, however, is that you don’t need a fancy platform or special software to create a powerful online course. Your lessons can be sent out as emails, followed by action plans and/or video tutorials. This approach can be even more effective as most people check their email on daily basis. In fact, that’s the exact approach I took with some of my freedom eCourses.
It’s a (mostly) short term, higher risk, higher reward place to invest cash that has a low correlation with the stock market, but is far more passive than buying and managing properties, has more opportunity for diversification than private placements (minimums of 5-10K, rather than 100K), and most of the equity offerings (and all of the debt offerings) provide monthly or quarterly incomes. Unlike a REIT, you can choose exactly which projects you wish to invest in. 

If you’re a YouTube personality, this is how you generate your income. An amazing example of this how Antonio Centeno got 1 million YouTube subscribers. If you’re a blogger who gets a lot of traffic to your site and uses advertising or sponsorships, then you’re also following the AA Model. Got a podcast with sponsorships? Same deal. I talk about successful podcast sponsorships and other ways to make money podcasting here:
​If you pay your bills with a credit card make sure it offers cash back rewards. You can let your rewards accrue for a while and possibly put the easy money you earned toward another passive income venture! (Be sure that the card you select doesn’t have an annual fee or you might be cancelling out your rewards). Check out this list of the best Cashback Rewards Cards.
One of the most appealing options, particularly for millennials, would be #12 on your list (create a Blog/Youtube channel). The videos can be about anything that interests you, from your daily makeup routine (with affiliate links to the products you use), recipes (what you eat each day) or as you mention, instructional videos (again with affiliate links to the products you use). Once you gain a large following and viewership, you can earn via Adsense on YouTube.

Bryan said, "People who have become very wealthy through business have gotten very good at leveraging their time in their pursuit of creating value. They've done that by first creating value, and then automating the process of creating value, so they can scale and provide even more value to more and more people. But it starts with the fact that they already understand how to create value. They understand it so well, that they're able to create that value and then automate and scale the process of creating more of it.


That depends what you call a “good” lifestyle. Could I rent yachts and get bottle service every weekend living off my passive income? No way. Could I travel 10–15 weeks a year and live in central Tel Aviv with money to spare? Definitely. I was able to earn low 6 figures completely passively. But if you want to make boatloads of money, and step up to the 7-figure territory, then yes, you’re going to need a combination. If, however, you want time to pursue your passions and have a moderate amount of fun, you can definitely sustain yourself with passive income.

If you are a photographer looking to diversify your income stream, putting together styled stock photo packages can be lucrative. For example, a package of 15 wedding-themed stock photos for $10. You can then market this to any bloggers or businesses who are in the wedding business for their use (photos of different engagement rings styles are super popular). Through this method, it’s possible to make a continuous stream of income off of photos you’ve taken once (similar to a licensing deal).
One of his favorite tools is Personal Capital, which enables him to manage his finances in just 15-minutes each month. If you sign up and link up an investment account with $1,000+ within 40 days, you get a $20 Amazon gift card. They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. It's free.
So, I sat down, wrote a few posts, and posted them on a simple website under the name Passive Income MD. I honestly didn’t expect anyone to read it. Well, that was two years ago and so much has happened since. Most notably, I’m now in a position where I am financially independent from medicine. In fact, I’ve started to cut back at work in order to find that happy work-family life balance. I don’t have any desire to quit medicine completely, but I do intend to retire gradually.

But then figure out your unique selling proposition, what advantage you can offer that the market currently lacks. “My advantage in the passive income marketing space is that I’m not afraid to share my failures or where my income comes from,” says Flynn, who details his impressive income every month. “Transparency is huge,” he says. Referring to the personal bio on his LEED exam site, he says, “You might think I’m not benefitting from putting my story on there, but it helps me establish a relationship with people there. I’m someone who went through the same experience people went through on the site.”


However, when you lack the money, you need time. You'll need to invest the upfront time now in order to reap the benefits of automatic income later. It just doesn't happen overnight. So don't expect it to. However, you can do this without quitting your day job. All it takes is some sincere effort over a consistent period, and voila! But, to get there, you'll need to consistently burn the midnight oil or get up at the crack of dawn. Your choice.
Occupational therapist Sarah Stromsdorfer founded occupational therapy site MyOTSpot.com three years ago as an online educational resources for occupational therapy students and professionals. She worked on it every weekend, and her site now makes enough income for her to work as an occupational therapist part-time. She believes it will be another year before her site makes enough money for a full-time living of about $4,000 per month. In addition to the digital products she also makes money from ads and online book sales.
It’s funny, Peter Lynch says before putting any money in the stock market, make sure you own real estate. It’s a rare investment that allows you to own an asset while borrowing a large portion of the value at an extremely favorable interest rate. However you are right, real estate investing does not offer passive income in the truest sense of the word. Great guide!

While building apps for Apple (or Android) mobile devices can be a lucrative way to generate passive income online, it's not as easy as many people make it seem. Beside the fact that it’s hard to get your app noticed among the millions being released every year, most people expect apps to be either free or very inexpensive. In fact, a recent study found that only 11% of apps are paid for. The number of paid apps will only decline over time as more players join the market. The key, like many of the business model mentioned here, is to be strategic and creative from the very start. There are a few ways to monetize your app and keep it free for users. Examples include advertising, premium services, and sponsors.
Some writers favor Infobarrel over the bigger Hubpages because Infobarrel’s earnings program lets you keep a majority of the money that your articles earn. Currently, as a publisher, you are entitled to 75% of the revenue generated from the display ads on your articles. In the past these ads were paid out from Adsense and other advertisers but because not everyone can get a Google Adsense account, Infobarrel now pay directly to writers. All you need now is a PayPal account which can be an advantage if you are just starting out. Also, InfoBarrel forums have a regular thread entitled 'InfoBarrel Earnings Reports’. You might want to check it out if you’re wondering how much money other writers on this site make. The last time I checked, the numbers were fairly low.

I think you should use Financial Samurai to raise your passive income. You’ve already proven that you writing 3 articles a week is enough to not only sustain the site but grow it. Why not have more guest writers post articles? Since you started with the extra post each week I’m guessing traffic is above your normal growth rate. Leverage that up with more posts and my bet traffic will continue to grow.
4) Treat Passive Income Like A Game. The only real way to begin your multiple passive income journey is when you are making active income. The initial funding has to come from somewhere. Hence, treat passive income as a game that has various levels. If you fail to achieve one level, it’s not the end of the world since you still have active income and can restart. Furthermore, a game is meant to be played with integrity. Using shortcuts (non passive income streams), someone else’s income as a supplement (spouse), or one-offs (capital gains) does not count. The primary purpose of any game is to bring enjoyment to the player and beat the boss.
I will share what we did, because it’s an incredible success story. We used an existing tax loophole where if you sell your primary residence (after having lived there at least two years) you get to keep your profit tax-free. So, we stair-stepped. We bought house after house, at least two years apart, used the profit money to pay down on the next house (so on and so forth, yadda yadda) building up equity as we went along… and now, we own a $600,000 house debt-free. And now we are using our paid-off home as leverage to borrow money to buy commercial buildings to rent out. I like commercial because it’s a BUSINESS transaction… kids, pets, other wear and tear that you see with residential rentals is nonexistent. People take care of their business space much better than residential. You have to be in a good area for renting out commercial – a thriving business community – to make this work. But that’s how we “made it”, and though it took 15 years, we will have residual income to take care of us when we’re old enough to retire. People made fun of us for moving so much, but who’s laughing now? 😉 Oh, and our child only had to change schools once (and we wanted to anyway) because we stayed in the same general area as we moved around. We were careful not to disrupt his life too much.
I’m somewhat embarassingly reminded of Harry Potter and the concept of “Horcruxes” here, in that the goal is to find a piece of your value, and impart it into an inanimate object or product, Voldemort Style (did I really just make a Harry Potter reference?) Anyways, whatever. If you want passive income, you have to think about the value you rent out or own. Or, you need to buy something valuable that other people would like to use (I love the idea of a 3D Printer). Then put it into something that can be sold or rented more passively. Maybe you have a car that sits in the driveway, or a vacation home that is empty half the time. Maybe you just have some funny jokes you could put into a YouTube video and run ads on. At some point, you have to “transfer” the value into something that can work for you — that something is an asset.
If you're curious about starting a blog, read this guide. I used Bluehost to get started with a website because it's super cheap - a free domain name and $2.95 per month to host it. I love Internet businesses because of this extremely low overhead and huge income potential. Our Bluehost deal is specific to our site, so if you want to start a website, make sure you get our $2.95 hosting deal from Bluehost. 

2 You are talking podcasts and a lady who commented above made the point people love to LISTEN to information. The data I have contains some videos, but they’re not podcasts as such. (Hmmm, maybe I’d better find out exactly what a podcast IS.) Do you think it would be worth my time to conduct this exercise as the vast majority of data I have is written information. If I’m too bloody exhausted after reading info to enact it, maybe my target audience – Net marketing and SME absolute beginners – would be too exhausted also? I’d hate to waste any more time and money than I already have.

A Risk Score of 10 means no risk. A Return Score of 1 means the returns are horrible compared to the risk-free rate. A Feasibility score of 10 means everybody can do it. A Liquidity Score of 1 means it’s very difficult to withdraw your money without a massive penalty. An Activity Score of 10 means you can kick back and do nothing to earn income. To make the ranking as realistic as possible, every score is relative to each other. Furthermore, the return criteria is based off trying to generate $10,000 a year in passive income.


If you’re looking for a way to begin gradually replacing your income, these are just some of the best ways you can do it as a physician. Remember the idea of gradual retirement? Passive income streams like the ones mentioned here are perfect ways to allow you to spend more time with family, enjoy your day job more, and, of course, make a little money while you’re at it.

Create a website or blog. With the foundation of a good website, you can build traffic (a flow of visitors to your site) that you can then convert into revenue sources later on. First, you have to get the traffic, so start by writing about what you know on your website or blog. If it is interesting, informative, and well written, you may gain consistent traffic to your site over time.[6]
Whether you choose to invest in just one of these modern REITs or both, keep in mind that since they’re private funds and not stocks, you won’t be able to easily liquidate your investment and access your cash right away. Depending on your investment, plan to see your money tied up for anywhere from six months to five years. However, you’ll most likely still receive monthly or quarterly payments, depending on which investment opportunity you select.
Almost all of these ideas require starting a personal blog or website. But the great thing about that is that it's incredibly cheap to do. We recommend using Bluehost to get started. You get a free domain name and hosting starts at just $2.95 per month - a deal that you won't find many other places online! You can afford that to start building a passive income stream.
Do you watch real estate reality shows? Have you dreamed of fixing and flipping houses? What about being a landlord? Believe it or not, real estate is a good way to earn extra income. Real estate investing includes fixing and flipping houses. This requires capital in the form of cash and/or credit. If you can partner with someone, do it. You'll attend housing auctions and bid on houses; you can get them for a good price. Hire a contractor to fix up the inside and outside (could cost anywhere from $10,000 and up), have the house appraised, sell it, make a profit and split the profits between you and your partner(s). Of course, you could buy properties (e.g., houses and apartment buildings), and become a landlord. Another alternative is to become a real estate agent. Speak with seasoned investors and realtors to find out if this passive income strategy is right for you.
I own 11 rental properties and they require a lot of work to buy, repair and rent. Once they are rented the rental properties become much more passive and my 11 rentals produce over $6,000 in monthly income. Real estate investments like REITs, turn-key rental properties and private money investing are much more passive investments, but they don’t produce as high of returns as I get. There is usually a trade-off on how much money you make on your investments versus how much work you are willing to do.
Another option: Consider starting your own real estate investment group. This is a great way to team together with other small investors, either via pooling your money together or simply by learning from eachother. According to Joseph Hogue, CFA from PeerFinance101.com, “The common bond in all real estate investing groups is that you help each other compete against the big money players to get the best returns.”
For example, a three-year $10,000 loan with a Prosper Rating of AA would have an interest rate of 5.31% and a 2.41% origination fee for an annual percentage rate (APR) of 6.95% APR. You would receive $9,759 and make 36 scheduled monthly payments of $301.10. A five-year $10,000 loan with a Prosper Rating of A would have an interest rate of 8.39% and a 5.00% origination fee with a 10.59% APR.

I came across your site and I love it! My husband and I work in corporate America and I own a consulting/coaching business. I have a goal to gross 1 MIL within the next 10 years I’ll be 40 then. How can I begin now? How do I find a millionaire mentor? We live in Philadelphia, PA all of our friends and family are mostly employed some with small businesses however i have huge goals I am working so hard to become a full time entrepreneur. Seems like everyone we know are all on the same level and I fear we’ll stay here of we don’t meet someone willing to show us how to level up. Any suggestions?
It is very important to understand that contacting a “professional” to learn how to do this only results in them trying to sell me crap properties (whether high end or low end). I’ve tried contacting realtors out of state, and they attempt to sell me crap or someone else’s problem. No one has a vested interest in actually helping someone or teaching them about how to get an out of state rental. very frustrating. I could go out tomorrow and buy a rental in my city, but that is the last place I want to own one. Anyone? Are there an real people on here?

Freelancing is on the verge of going mainstream. Thirty-six percent of the international workforce now freelances, at least part-time. There are also 40.9 million adults in America who are self-employed. Clearly, freelancing is catching on. But with rapid growth come certain challenges, one being an increased competition for well-paying job and price reduction by those who think they can afford low-bidding at least for now. https://www.listenmoneymatters.com/wp-content/uploads/2017/08/LMM-Cover-Images-1.jpg

Here’s the truth: a successful business is something that successfully solves a problem. And that business can make more money in two ways: solving more people’s problems, or solving bigger problems. The cool thing about the EP Model is that sometimes these products don’t even have to be yours. You can generate income by recommending other people’s or companies’ services or products. This is called affiliate marketing. It’s actually how I’ve made most of my money since I started in 2008.

I had the same experience when my name’s frequency on the call schedule dropped for reasons that no one would discuss and were not easily discerned except by those in the know (who were staying mum). I went and found another job…. and I wish that I had found something with passive income – it’s been several years now that I’ve been working 2-3 part time jobs and I’m trying to figure out what my other thing is going to be… still working on that, but I am thankful that there are others out there discussing side gigs and alternatives to medicine.

Depending on how many rental income properties you have and your experience with home improvement, you may be able to do a lot of the maintenance yourself. You likely won’t be able to fix everything but it will be worth it to learn a few common repairs to do yourself. Typically, plumbing and electrical maintenance will cost the most since work is generally restricted to licensed members of the trade unions.
The time commitment for real estate investing isn’t as continuous as with blogging but it can be a part-time job if you have enough properties and the wrong tenants. Sacrifice a little return for quality tenants and repair problems right the first time. These two simple ideas will save you a ton of time and turn out to be the more profitable solution over the long-run.
This can be a little easier said than done, but if you have a large social media following, you can definitely earn money promoting a product or advertising for a company. You can even combine this with different marketing campaigns if you are an influencer and have your own blog (advertisement + affiliate income). This is how many bloggers make money! Again, it is not 100% passive but once set up correctly and then scaled, can be surprisingly lucrative.
Thank you for sharing your article! You did a great job saving and putting your money to work for you. Like you, I share the same financial dream of having 150-200k in passive income and traveling the world stress-free! :) Right now I’m saving about 80-90% of my active income and put it toward ETF funds and value growth stocks because I’m seeking capital appreciation. And I can tolerate a lot of risks because I’m still in my early 20’s. By the time I reach 30 something I’ll start looking into blue chips stocks that pay dividends and REIT. So I want to be where you are by that time lol. Anyways, that the plan and I’m sticking to it. Good luck on achieving your financial dream!

Those who choose to focus on passive income will need either family money, funds from investors, or the nerve to borrow large sums by taking on debt to fund the purchase of assets. Consider someone who takes out substantial bank loans to build an apartment building or buy rental houses. Although this can turn a very small amount of equity into a large cash flow stream, it is not without risk. When using borrowed money, the margin of safety is much smaller because you can’t absorb the same degree of setback before defaulting and finding you balance sheet obliterated.


However, I think for those who are willing to do what it takes, the sky is the absolute limit. As an example, I’m trying to take a page out of FinancialSamauri’s book and create an online personal finance and investing blog. It is an enormous undertaking, and as a new blogger, there is a seemingly endless amount of work to be done. That said, I hope that one day I can not only generate some passive income from the hours of work I have put and will put into the project, but I hope to be able to help OTHERS reach their financial goals.

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