🚨 6 Passive Income Ideas for 2020

We all have dreams and financial goals, and
what we do and how we acquire the money to meet our goals vary from person to person. See many people want to work remotely and
be able to travel the world – that is their dream, that is their goal. I have been fortunate enough to travel to
many places around the world and work from home for a few years now so now I have shifted
to a new personal goal. Which is to buy my own house, and guess what? I did it! Now I’m on to the next steps which is fixing
it up and making it completely my own from the inside out. Don’t get me wrong, I love to travel and
I still do so – I try to take at least two trips a year – one of them being at least
2 weeks long so it is not like I am sacrificing one goal for another. So how exactly am I able to do both and still
live comfortably?? Two words: PASSIVE INCOME Passive income is Making money without really
haven’t to do daily ACTIVE work like exchanging work hours for a salary. It’s generating commissions, interests and
so forth on a consistent basis to help grow your financial means. Sounds too good to be true? Trust me its not and there are different ways
for you to do it too. In this video I am going to go over 6 different
ideas for you to begin generating your own means of passive income. These will be great for college students,
stay at home parents or just anyone looking to make extra cash on a month to month basis. I hope this video provides some value for
you so lets get started. If you are new to this channel, my name is
Marli Espinales – I have my own web design and online marketing company, I love to travel,
hike and am constantly trying to find ways to make more money – this is what I like to
talk and share tips about here. So if any of these topics interest you make
sure to hit that “Subscribe” button, hit the notification bell, and if you like any
of the information that is shared on this video today make sure to hit that Like button
as well so I can continue to create more content like this. It is important to understand that this is
passive and not ACTIVE income meaning you will still have to put in some type of effort
in the beginning to get it started and some slight minimal effort for on-going maintenance
and growth — remember these are NOT get rich quick schemes. First way to generate passive income:
Bank Interest It’s not the newest or sexiest idea but
anyone and everyone can do it, and it requires really no effort up front to get started. You can set up a high yield savings account
online and slowly over the years acquire interest on the money that you keep with the bank. Look into bank accounts like Marcus by Goldman
Sachs, HSBC Direct Savings, Ally Bank, and Barclay’s Online Savings who can pay out
up to a 2.15% annual percentage yield – remember that the more money you have in these savings
the more you’ll get back on interest. The second idea to help you generate some
passive income in 2019 and 2020 is to start a blog and sell ad space on it. Now this one definitely requires some time
and effort in the beginning because you will need to grow an audience to bring traffic
to your website. The more traffic you bring in, the more lucrative
these ad spaces can be to advertisers and the higher chances of generating said income. If you go this route, remember that it requires
a lot of writing so pick a topic you know and are passionate about. Build your brand around that, grow your following
and then sell those banner ad spaces, or CPC – which stands for cost per click – meaning
you can charge people per click to run ads on your website. The higher the authority and quality traffic
to your blog, the higher charge on the click. But a bit of advice – don’t overwhelm your
blog with a bunch of ads – placement is everything.. Too many ads can turn people off. Third, ebooks, PDFs and amazon publishing. The wonderful thing about these digital products
is that you can easily sell them over and over again without having to worry about any
tangible fulfillment or logistics. Also consider your production cost? It would be either low or none. You could do most of the work yourself, or
maybe you hire a sub-contractor to help you put your digital product into a nice and appealing
format. Then you need to promote and sell it across
the inter-webs be it on podcasts, amazon and various social media platforms – once again
you can do this yourself or hire someone at a low fee to help you, but in the end that
profit margin will be out of this world because once your product is complete you won’t
have to keep recreating it unless you need or want to put out an updated version or volume. Fourth, YOUTUBE! Yes, growing a YouTube Channel and using this
platform to build a business. Now there are different ways to make money
off of YouTube but one of the ways is through Ad Revenue where you can get paid when a viewer
watches or clicks an ad that pops up on your Video. There are different ads YouTube shows, like
Overlay ads, pop-ups, display, skippable and non-skippable. There are certain requirements that your Channel
has to meet first before you can start generating income – this includes meeting the minimum
number of subscribers and views. There is an opportunity for you to generate
a hefty income from YouTube ad revenue, and the harder you push for your channel to grow
the more passive income you can make on a daily basis. Fifth: Selling an e-Course or a Digital Course. What is an e-course. Consider it a breakdown of information that
helps solve somebody’s problem or helps teach someone or a business how to do something
for themselves. You would want to get specific and target
a niche to be more successful. I’m an online marketer and I try to target
dentists, I could create a Social Marketing for Dentists digital course where I can break
down the basics on how to implement an effective social marketing plan for their practice. I would create an outline of what I would
teach such as an introduction of social media, the best platforms for Dentists to be on and
then break it down even further based off those platforms. Like Facebook marketing for dentists and have
chapters within that. Instagram for Dentists and so forth. I could provide online workbooks or PDFS and
videos for them to follow along with, and sell the course for them to implement in-house. In order to accomplish this you will need
to use a platform to host this course and allow you to advertise and sell it in a simple
manner. I like to recommend Builderall which has an
eLearning tool that allows you to create unlimited courses for your audience as well as create
landing pages to help you promote it and get people to buy. I have added a link below for the Builderall
eLearning, make sure to click on it to learn more. They offer a free 7 day trial which I highly
recommend you sign up for so you can take a tour of all the marketing tools they offer. Now if you have made it to this part of the
video, then that means we have gotten to our 6th and final way to generate passive income
and that is through affiliate marketing! Affiliate marketing is one of the simplest
ways to not only make passive income online but to truly start your own online business. You are essentially the middle man. You are the one connecting a company’s service
or product to a buyer who is need of it and once they purchase or sign-up you will get
a commission off that sale. The way you connect these two dots is through
your own specific affiliate marketing link that the company provides you and which you
will begin promoting – this is how they keep track of your sales and payout. You can focus on marketing one specific affiliate
or multiple – but each will have their own link. Now the payout can vary. There are companies who pay out a 10% commission
from the sale and some who will pay out up to 100%. There are those who pay out a specific dollar
amount like $25 or more instead of a percentage per sale. Some are one-time payments per sale, and some
are on-going recurring commission payments from a singular sale. Those reoccuring payment affiliate programs
are the ones that can really help build up your passive income. For example, Builderall provides a great affiliate
marketing program where you help them sell either their marketing platform or affiliate
program. Both are membership based. If an individual purchases either on-going
monthly membership through your affiliate link, not only will you make commission off
that initial sale, but you will continue to generate income on a monthly basis for as
long as they are an active-paying member. I have actually made a video that talks more
about their affiliate marketing program and have added a link in the description below
for you to watch and hopefully sign up so you yourself can begin making income through
affiliate marketing. Remember, affiliate marketing will also take
time to build but there are so many people out there who are successful at it, so why
can you be one of them as well. Well guys, we have reached the end of our
video, I really hope that it has provided you with some insight and has motivated you
to take that first step in putting any of these into action. Build this money to reach your goals, whatever
they may be. Remember, please click the THUMBS UP on this
video to let me know that you liked it and don’t forget to SUBSCRIBE to my channel
to be the one of the firsts to see new content. Till next time.


Add a Comment

Your email address will not be published. Required fields are marked *