One of the best ways to enjoy a financially-free retirement is by preparing and setting up a passive income stream. Instead of just relying on your saved funds, you can earn additional income passively, without doing much work. Here are some of the best ways to earn a passive income.
Rent Out Your Property
If you rent out apartments or even the basement of your home, you will be earning a monthly income without doing much. A small real estate investment will be enough to pay you back month after month.
Start a Blog
Starting a website these days couldn’t be easier. Websites are cheap and easy to start. It will take time before you get enough visitors to monetize it, but it’s a great way to fill up your time after your retirement anyway. You can earn money by putting Google Adsense ads on your site or by promoting products through affiliate marketing, via an affiliate marketing network such as Amazon Associates.
Create a Digital Product
A digital product, such as an ebook, is a great way to earn passive income. You can sell copy after copy without any maintenance fees. You can publish it on Kindle, or you can sell it on your website. You can also create a video training course and charge a small access fee. This course can be sold on your own website or on a training platform such as Udemy. You can even start an affiliate program where affiliates will promote your product in exchange for a commission.
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