7.5 Passive Income Ideas To Easily Make $500/Day

here are the best 7. 5 ways to build a passive income for each of these ideas we'll address three questions how much effort is required to start it how long does it take to generate your first 500 and what's the effort required to maintain it i'll rate each of these from one to three magic lamps one being easy and three difficult now let's contradict myself already there's no such thing as passive income no one will throw money at your feet without you lifting a finger you'll have to do some work to get these up and running well except for the fourth idea because that one's truly passive but let's be honest no matter how badly we all want to be rich building passive income is not really about the money right it's more about freedom it's about investing in your future so you don't have to work a typical nine to five trapped in a cubicle in a soulless company sufficient passive income gives you the freedom to pursue your passions whether that's giving to charity traveling the world or simply chilling at home all that matters is that you get to make that choice and not some ranking boss the internet is filled with get-rich-quick scammers preying on people with false hopes and dreams but in reality it's very rare to become a millionaire overnight it takes work and also knowing this dirty little secret about making money at the end of the day after all the hustle and hours you put in making money is about bringing value to others the more value you give the more money you can make so let's start with this value-packed video and thank you to yubiko for sponsoring this video there's so much money floating around on the internet that it would be a shame if you didn't get your share check out this graph there were only a handful of these rare specimens billionaires with the b in the 80s and 90. and suddenly after the internet became a real thing they reproduced like rabbits and the numbers skyrocketed to 134 billionaires around the world you can make passive income with an online business with two different types of products first a digital product anything you can think of that could be mostly created on a computer like a course on how to eat a cheeseburger an excel template an app or a website what's amazing is that you just need to create it once and you can sell it theoretically an infinite number of times and it's pretty easy to get started depending on the product like an excel template is about one magic lamp after you build it you just need to sell it on a website and you don't even need to know anything about building sites there are plenty of tools out there like shopify and squarespace that lets you simply drag and drop and boom it's so easy that a caveman can do it oh no i'm not cool oh my bad dude i i didn't know you were there i'm sorry the second type of product physical products are a completely different beast these things exist in a real world like this water bottle or this mouse it's harder to create these things because you'll need the infrastructure the materials the supplies and labor about three magic lamps physical products also don't scale as easily think about it every time someone buys a product you need to create a new copy you need to package it and ship it making sure your online business stands out is about 2.

5 magic lamps there's a ton of competition but the trick is to think outside of this and here's my strategy first find a really specific niche like selling bidets then look at successful unrelated niches like selling ottomans and check out how you can incorporate their style landing page whatever it is into your own site and you can apply this strategy to pretty much any business to make your first 500 that's about two magic lamps truthfully it could be as quick and easy as a few weeks to a couple of years it really depends on how well you stand out and whether you're selling a high ticket or low ticket item which brings into quantity versus quality of clients studies show that the average startup takes two to three years to see any profits at all but once you get a good flow going it's only about 1. 5 magic lamps to maintain if you have a good team and automation in place it's relatively passive you just need to keep up with trends and being on the lookout for any new competitors this next passive income stream is what empowered me to escape my miserable life working in finance and gave me countless new opportunities and it's youtube hold up before you write this off know this it's still very possible to create a successful youtube channel now it's not too late but you do have to do something very specific that i'll explain in terms of difficulty of getting started one magic lamp anyone can make an account in a minute and start uploading whatever content they want but here's where it gets tricky standing out on youtube because it's so easy to start about 720 000 hours of videos were uploaded every day to youtube competition is fierce only about point 25 of creators or less than 80 000 channels actually earn any money doing this but that doesn't mean that you can't be in that point 25 making good content is hard this video that you're watching right now took about two weeks to write film and edit and even then it's still not going to be perfect so turn that like button into a beautiful black to show some love look to stand out you need to make niche quality content you don't need fancy cameras lights or anything to get started check this out my first video on youtube and you want to unlock it steaming pile of garbage but look at what you're watching now it's now just a regular pile of garbage to make your first 500 on youtube you need to be a youtube partner which requires a minimum of 1 000 subscribers and 4 000 hours of watch time which generally takes about 15 months and 160 videos i was lucky and fortunate enough to have reached this within a few weeks and to a hundred thousand subscribers in less than a year youtube pays this thing called adsense and it's calculated by cost per mil cpm the amount of money advertisers pay per 1000 views your cpm rate varies depending on your niche where your audience is watching from etc and this can range from a few cents to dozens of dollars the powerful thing about youtube is that the more videos you publish the views compound on each other and over time those views add up to your monthly totals making it easier and easier to make more money in the long term but here's the secret you don't need to be a youtube partner to make money on youtube and i'll show you how in the next passive income stream to maintain this whole youtube thing i'd say it's fairly difficult at 2. 5 magic lamps you need to keep your content fresh original and consistently upload it became my full-time job in 2020 and honestly i work harder now than i've ever did before because it's my business it's my livelihood and it's my little baby and i need to make sure that it's financially and digitally secure digital security is important to run any successful online business all it takes is clicking one wrong link one wrong download one slip up and you can lose access to your accounts so that's why i want to thank today's sponsor yubico if you didn't know google is also enrolling 150 million google users in a two-step verification process to protect your internet accounts and you because yubikeys these little guys will make the security transition much easier yubikeys are a physical key to secure your online world acting as an extra layer of protection to your accounts in addition to username and password it only took me a few seconds to set everything up and here's why it's so cool even if someone gets my account username and password they still can't log in because they need to physically have this little guy think of it like the key that you use to lock your house or car doors these keys work with google youtube twitter facebook password managers cryptocurrency exchanges and hundreds more accounts and you can use the same key to secure multiple accounts the security key cnfc is 29 and if you use my discount code vincent 5 you can save five dollars if you're a creator or in any type of online business check out you because yubi keys to protect your digital world link in the description down below and use the discount code vincent 5 to save 5 on any security key series or yubikey 5 series key everything you know about this passive income stream is completely wrong conventional wisdom makes you think that you need to be a super influencer with a huge following to make any money off of affiliate marketing but that's a lie affiliate marketing is simply talking about someone else's product or services and you getting a commission each time someone uses your link check this out a lot of brands specifically work with micro influencers people will adjust a couple hundred to a couple of thousands of followers so if you have a youtube instagram facebook or whatever even with a small following you can still make some money some brands specifically love to reach out to smaller influencers instead of the kardashian type because it's cheaper but it's also because of this the engagement rate the metric that shows how engaged your audience is with your content the rate peaks at around 1 000 followers about eight percent and then drops to one point six percent for huge celebrities it's easy to get started with affiliate marketing about fun magic lamp there are sites like tinysponsor that will connect you with a bunch of brands pick the ones that you like and integrate them into your own post to make your first 500 bucks really depends on your niche and follower account but you could be getting tens to hundreds of dollars per post a free product and some kickback affiliate marketing commission depending on the brand if most of your social media followers are just your friends and family it'll be pretty easy to maintain but if you want to constantly grow and make more money then you need to work harder to pump out fresh content okay you quite literally cannot get more passive than this income idea all you need to do is click a few buttons and you're done about one magic lamp it's simple you use your money to purchase a piece of ownership of a company and if the company does well then congratulations you made some money or this happens but don't worry there's actually a secret trick investing in stocks can be inherently risky but there are ways to mitigate that risk for one look into this thing called an index fund it's a way to automatically invest into a bunch of different stocks instead of investing in a single stock like apple that can go up or down you can invest in an index fund that follows the movement of hundreds of different stocks it's much less risky because let's say if you only invested in apple stock and apple drops then your entire portfolio falls but if you invest in an index fund you're pretty diversified and it doesn't really matter if a couple of stocks go down because the hundreds of other stocks could go up in your index thereby mitigating the downside it's like buying a mixed cheese platter for a party instead of you only bringing one type of cheese you can buy the prepared platter that already has a bunch of cheese a little bit of everything the most famous index is the s p 500 which tracks the top 500 companies like google facebook apple microsoft amazon the great thing about investing as a passive income stream is that you don't have to stand out to do well the s p 500 average annualized return since 1957 has been 10.

67 percent compared to just a traditional savings account where the national average interest rate is 0. 06 percent that is uh hold on seventeen thousand percent higher which means more money for you in the long term it's super easy to get started just pull out your favorite trading app and look for an index fund like fx aix or vf vfiax these are fidelity and vanguard funds that track the s p 500 but please do your own research before you buy or sell anything i'm just a dude online who wears glasses to look smart in fact i don't even wear glasses these are completely fake and speaking of stocks there's actually an easy way you can get some for free just for you you can get two free stocks valued up to seven thousand dollars with moomoo if you deposit one dollar and three free stocks value up to six thousand three hundred dollars with weibo if you deposit one dollar link is in the description down below making your first 500 bucks really depends on your own situation how much money you're investing and the market volatility but based on the average annualized return if you put five thousand dollars a day in the s p 500 you'd expect to have an additional 500 in a year's time right well technically not because in the short term like in a year no one knows that the market will go up or down no one can tell the future not even mr magic lamp over there so your stocks would go up or down tomorrow but if you invest for the long term like me on average the s p 500 goes up 10 a year check this out this is why investing is so powerful and passive let's say the absolute max that you can put aside every month towards the s p 500 is just 200 with an average return of 10 it would only take you 10 years to grow your investment account to 41 000 it's also really low maintenance if you're investing in index fund one magic lamp you can just set it up and forget it there's also this other thing called dividend stocks that are even way more passive with a dividend stock the company that you own actually pays you money for just holding the stock as an investment now that's passive af by the way if you're interested in investing actually send out free daily market briefs every morning straight to your inbox that you can read in under one minute to understand what's going on with the market 100 free link in the description down below okay the next passive income stream is named after a very specific group of people the royalties despite the name royalties isn't like your emperor's new groove it's just a fancy word that describes someone paying you each time they use your thing it's pretty easy to get started to make a thing 1. 5 magic lamps all you need is an internet connection a computer some time and some creativity you've probably heard of royalties before as it relates to the music industry but thanks to the internet you can earn royalties in many different ways with stuff like ebooks stock photography and more i got started in royalty income through my ebook business however it is about 2.

5 magic lamps to stand out with your product your content needs to provide enough value that it differentiates itself and here's a trick that helped me i started with no audience or anyone to sell to and plus i wanted to remain anonymous so i'd even tell my friends or family about it here's a secret they can use with anything i discovered that the biggest ebook niche at the time was health and wellness and this thing called intermitting fasting was a really hot topic which i do dabble in 168 for my iaf aficionados and because i saw this rising trend i wrote an ebook about it i analyzed my competitors and i read their reviews and in the review section i found out what people wanted more of or less of i compiled and synthesized a bunch of research to create the final product now here's how i stood out check this out i joined a bunch of intermitting fasting facebook groups and i told them that i'm releasing a new ebook about this topic and i would love to give them early free access i collected hundreds of emails and when i launched they were the first ones to download and it was that initial search of hundreds of downloads that sent my ebook to the number one bestselling ebook in its category which caused a bunch of other people to see it and buy it so technically you're in the presence of a best-selling author ladies and gentlemen no big deal to make 500 selling your royalty products really depends on your own marketing skills i personally made 500 in the first few days but there are a ton of royalty based products out there that don't even make two dollars because no one knows about them the key is to focus on marketing and showing why your product is gold compared to others and here's my favorite part the maintenance it's about one magic lamp the beauty of royalties is once you get your product up and running ebook or whatever you can leave it and forget it because your work is done other than maintaining your marketing efforts you can just wait for the royalties to roll in next is real estate and hold on i know what you're thinking vincent i don't have five hundred thousand dollars to throw down on the property but check this out there's a trick where you can just start off with just a couple hundred dollars through real estate crowdfunding and you can do all this through a website that i'll share in a bit crowdfunding is pulling together money from a bunch of investors and collectively you have enough capital to buy real estate without dealing with the hassle of mortgages tenants inspection etc plus remember earlier when we talked about diversification and investments well real estate is a great avenue to diversify away from just stocks getting started is about two magic lamps there are a bunch of sites that you can use like crowdtree fundrise these platforms connect investment opportunities with investors you talking to me you can get started with as little as a couple of hundred dollars but some of them do require more funding most of your efforts spent will be on vetting the actual investment opportunities so pay close attention to how the websites vet the deal as well as the sponsors behind the projects typically the top platforms do a decent amount of research to make sure everything is rigorously evaluated but still dior do your own research to make your first 500 it would all depend the average return for real estate crowdfunding is around 11 to 15 per year let's just say 13 that means that you would need to put down around 3 800 to make close to five hundred bucks in the course of a year but just like with stocks that return is never guaranteed and is dependent on so many factors maintenance wise it's about one magic land because there's not much work left since your crowdfunding you'll occasionally need to check your project performance but there's no traditional stuff that you need to worry about when it comes to traditional real estate like building upkeep maintenance etc this one involves steak wrong sake many people buy and sell cryptocurrency for profit but there's actually a passive way to earn income without needing to buy sell and track charts but before i reveal what it is i'm not trying to give it to you by crypto it's volatile and speculative so make sure you get your finances in order first like your 401k your roth ra hsa emergency fund etc and if none of those words make any sense then maybe crypto isn't for you okay so this method is called cryptocurrency staking staking is about using your coins to support the functions of a blockchain network and in return you can get paid interest anywhere from 5 20 100 or even more depending on the coin and this interest is way more than the 0. 06 percent rate that a traditional savings account gives you don't worry you don't need to understand anything technical to do this at all all you need to know is that your coins will be locked up for a defined time period but you will still retain full ownership of it it's about 1. 5 magic lamps to get started because depending on where you live there could be regulations and you may need to look at some workarounds but essentially most crypto exchanges have an option to stake specific types of coins i personally use coinbase for my cryptocurrency super easy to use and if you sign it with my link down below you would get five dollars in bitcoin for free if your crypto platform supports it you simply click a few buttons and you can start staking but there are some risks involved the biggest one being the price movement in the crypto that you are staking while a 20 interest rate might sound super attractive if the crypto drops 50 in price then you're gonna have a bad time secondly be on the lookout for platforms or coins that offer a ridiculous interest rate because typically it's a riskier projects that try to lure people in with really attractive returns making 500 with this really depends on the coin that you stake and the interest rates advertised to keep things simpler let's say you bought 5 000 abc coins for five thousand dollars so one dollar per coin if it has an eight percent return it would take a little less than a year to make five hundred dollars assuming nothing changes it's about one magic lamp to maintain you don't really need to do anything else other than wait and hope the coin doesn't drop in value this is a bonus the 0.

5 and 7. 5 it's similar to crypto staking but a bit different for this you can think of yourself as a bank let's say you have a bunch of crypto that's just sitting around instead of waiting for it to appreciate in value you can make passive income by lending out your coins to other people i. e crypto lending and in return they'll pay you interest ranging anywhere from 3 to 17 or even more here's how it works there are three parties involved you the lender i.

e the bank a borrower and a crypto platform as a third party the borrower goes on a platform and is like hey i want a loan the crypto platform says sure give me some collateral to secure the loan then you the lender would be like cool here's a loan and now pay me some interest then the borrower says i got you thanks man and the crypto platform will hold on to the collateral until the loan is fully paid off similar to staking it's about 1.