With the likes of Amazon’s Kindle platform, anyone can publish a book online. Sure, you can write an amazing book proposal but if you can’t get the attention of an agent (and then a publisher, and then the reviewers, and so on) you won’t get anywhere. Traditional publishing has a lot of advantages over self-publishing-great editors, marketing support from the publisher, an advance-but there’s one big catch: it’s hard. The problem is it’s incredibly slow and time consuming at every step. Imagine walking into a bookstore and seeing your book on the bestsellers wall or leading the sales charts on Amazon. This is a difficult approach to take with passive income but it can be one of the most rewarding. Seth Godin, successful published business author, with books shown here on Amazon. If you’re a great writer, have an interesting story to tell, or can otherwise bring something unique to the table, traditional publishers might be interested. It’s a system that’s been around for hundreds of years. You write the book, someone publishes it and then you get a royalty for every copy that’s sold. Writing a book is one of the most traditional forms of passive income. Go in and, depending on your desire for returns and tolerance for risk, pick a few stocks you like or invest in a steadier index fund. Most banks offer investment accounts of some sort as well. While it’s obviously important to save for retirement, you can use the same principles to start generating passive income you’ll have access to now. It's one of the more easy passive income streams to setup and maintain. If you already have a retirement savings account like a 401k, congratulations, you’re earning passive income! You might not have thought about it because you aren’t planning to use it for a while, but the money you’re investing in your retirement is generating a return while you sleep. So without further ado, here are 16 ways to generate passive income and get started right now. In either case, you can get started quickly. For some, you might be able to get ahead by investing cash others absolutely require you to invest hours of your time. Some of these are easy passive income ideas with and others are a bit more complex. Once it’s going, it might be passive to maintain, but to get it started, it won’t at first.Įach of these ideas has different active requirements. ![]() It’s important to remember that a successful passive income project often takes a lot of hands on time and is hard work to get off the ground. The point isn’t to give you an exhaustive list of passive income ideas, but instead to show you just how many possible options there are depending on your financial situation and how much time you’re able to devote. Some of these, like writing an eBook, will be familiar ideas but others will be a little more out there. ![]() ![]() There are varied ways you can get started generating passive income. However, now that we’ve got the foundations laid, we can start to get into the nitty gritty of ways to generate passive income, so you can start working on one idea that's best for you. If you haven’t read them, you might struggle to follow along. Those three tutorials are going to form the base for everything else in this series. Start making passive income using the ideas in this tutorial. How to work out if passive income is for you, and what you need to think about before you begin.The difference between passive income and active income, and how to stop trading your time for money.What passive income is and how it works. ![]() In the last three tutorials, we’ve covered:
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