How to Make Passive Income

This has become a big topic for me over the last few years on how to make passive income. I realized as I am getting older not only is my health and well-being that needs focus but also my finances.

Do I have enough saved to retire? Will I be able to retire? Will I be able to help my kids pay for collage? Will my kids have a legacy income from me when I pass? These are all questions that I have been thinking about, and I am sure if you are reading this, you are too.

What is Passive Income?

In short, passive income is money you earn that requires little to no daily effort to maintain. It could come from investments, real estate rentals, or business ventures where you’re not actively involved. It’s a fantastic way to build wealth and secure financial freedom.

But, how to make passive income?

What Passive Income did I find?

In the last few years I have dabbled in Network Marketing. I actually had quite a bit of success with it which is interesting with zero experience in the industry. I never thought I would have. I had zero interest in sales.

But, I was open to learning so I gave it a shot. I quickly learned that it was not all about sales. It was inviting others to take a look at the opportunity because we are a community professionals, moms, dads etc. who are creating a home based business. And… the income is uncapped which is not the case in a salary position.

Could we sell product and earn a commission absolutely! But, what I found is it is much easier and more rewarding/lucrative in this industry by inviting others to open a business account and repeat the process.

I recently came across a Proactive Wellness Company (Three International or iii earth) that has a dual purpose of wellness and wealth. It is pretty impressive and has been very lucrative for me. There is a recurring cost to be a Brand Ambassador of 1-2 products you would personally consume OR having a retail customer purchasing that amount.

What are Other Ways on How to Make a Passive Income?

Affiliate Marketing: A strategy where you earn a commission for promoting a company’s products or services. This often is a one time sale however there are some companies that you can earn a commission off others you enroll and their enrollments which would make that passive.

Digital Marketing: Digital marketing uses online channels to reach consumers. It includes strategies like SEO, SEM, content marketing, email marketing, social media marketing, and mobile marketing.

Real Estate Investments: If you own property, you could consider renting it out to generate income.

Dividend Stocks: By investing in dividend stocks, you can earn a portion of the company’s earnings periodically without having to sell your shares.

Creating a Blog or YouTube Channel: If these platforms gain enough popularity, they can be monetized through advertising, affiliate marketing, or sponsored posts.