Having a passive income is a desirable goal for anyone, not just a freelancer. The only problem is that assets, dividends from which after a while will begin to “drip” on a card or any electronic account, are generated with great difficulty. Nevertheless, if desired, almost any able-bodied person can create additional passive income for himself. There would be only intention and time.
Method 1. Investing in stock market stocks
Not so long ago, American journalists published a recipe for how the average RESIDENT OF THE UNITED STATES can become a millionaire. In their opinion, it is enough to save 10% of your income every month, and then invest this money in shares of high-tech companies. After 30-40 years, this will supposedly make any locksmith, cashier or truck driver a millionaire.
The authors of such a simple way of enrichment, however, did not specify the shares of which IT companies they had in mind. But in general, this way of transforming into a millionaire at retirement looks quite plausible.
15 years ago, Google shares were worth about $ 50. Now their cost is $ 1260. Thus, $ 5,000 invested in Google shares in 2004 turned into $ 126,000 dollars, which is quite good, even for an American freelancer.
Of course, there are exceptions. Securities can be bought “on hays” – at a peak cost, and remain at a loss. For example, in June last year, Netflix shares sold out like hotcakes at a price of over $ 400. Today they cost $280. Investments bring losses.
You can minimize such risks if you “do not keep your eggs in one basket”, but invest your capital in shares of different companies. And of course, before you give someone your money, you will have to carefully study the state of the market and the financial indicators of the intended investment object.
Method 2. Bank deposits and investments in government securities
Currently, the purchase of Ukrainian government bonds issued by the Ministry of Finance is one of the most profitable ways to generate additional income. Depending on the duration of repayment, when purchasing government bonds, you can count on an income in hryvnia of 16-17% per annum.
This is about the same as the UAH bank deposits bring. At the same time, the state is a much more reliable defendant in terms of obligations than a commercial bank. In case of bank bankruptcy, the depositor is guaranteed compensation of up to 200 thousand hryvnias from the Deposit Guarantee Fund. While the state is responsible for the entire amount of its obligations in government bonds.
Given that during the current year the hryvnia exchange rate did not sank, but on the contrary strengthened, everyone who invested their money in a hryvnia deposit or government bonds won significantly. And in terms of dollars, even more came out. 17% per annum is a very good income in any developed country.
Is there a risk of such an investment of money? Of course, we should not forget that such high percentages of bond yields are associated with political risks. The hryvnia exchange rate is not as strong as it seems. In the event of an intensification of hostilities, another Maidan or a break in cooperation with the IMF due to a challenge to the nationalization of PrivatBank, the value of the dollar in Ukraine may rise again. This will instantly “evaporate” all your profits.
Method 3. Real Estate Investments
A good way to invest money, reliable. The only major drawback is that the rental income is not too high. But if you set a goal to have an additional pension in your old age, which does not depend on the fall in the stock price and political turmoil, then buying a second or third apartment will be a really good investment of money.
In recent years, many prefer to invest in real estate, buying office or retail space. It is believed that this brings fewer problems than when renting out apartments.
Method 4. Renting out movable property
Quite a nervous, but profitable way to make money. Its advantage is that you yourself are no longer physically working “for your uncle”. But for this, you will have to constantly be on the alert. The easiest way is to rent out property to legal entities – for example, your car to a taxi service. Or better yet, a few cars.
Photographers can rent lenses, students can rent refrigerators, brides can rent wedding dresses, whatever. Of course, you will have to pay taxes, take into account the depreciation of property and other nuances. But many are willing to take risks. “Euroblaha”, brought from Lithuania or Poland for 4,000-5,000 dollars, can “beat back” its cost when used as a taxi in just one year.
Method 5. Investing in cryptocurrency
A great way, but only for those living in 2017. But seriously, this investment option is extremely unreliable, besides, the profit here is in great doubt.
Since December 2017, the price of bitcoin has fallen almost 6 times – from $ 19200 to $ 3200. Most of the altcoins in general turned into rubbish, dropping from peak values by dozens of times. True, over the past three months, bitcoin again began to move well, reaching a price of $ 14,000, but then fell in price again. Now the price of the main cryptocurrency is approximately $ 9200.
Many expect that the upcoming halving in May 2020 (another 50% reduction in the reward to miners for each mined block of BTC) will finally make mining unprofitable, which, in turn, will create a shortage of coins. And this will already lead to a powerful “bullish impulse” to the level of $ 19,000-20,000 per coin.
Believe it or not is up to you to decide. Above 20 thousand dollars, bitcoin is unlikely to grow, because at this level will begin sales of “hodl” – hundreds of thousands of coins mined before 2017. This will create a huge resistance on the exchanges, which is unlikely to be broken.
It would be extremely gullible to expect that bitcoin can be worth 60 or 100 thousand dollars. The very people who say this now already promised two years ago that by December 2018, bitcoin would be worth $ 50,000. In the end, we all saw only a long correction at the level of $3700-4500.
Method 6. Search for referrals
The referral you referred to the affiliate program can give you anywhere from 5 to 10% of their income. Moreover, the referral itself may not even guess about it – the owners of the affiliate program make deductions. I would not advise you to count on this method, since the boom of affiliate programs has long passed, and it is not so easy to find “fat referrals” on forums or social networks.
Method 7. Placement of contextual advertising on your resources
If you are a mega-cool copywriter or blogger, and are able to generate a lot of unique texts, then you have a chance to receive passive income from your blog by placing Google Adsense advertising code on its pages. Other networks are not taken into account, if you have a “white” site, working with Adsense brings the greatest benefit.
How much can you earn on this? It all depends on the subject and the number of unique pages. For high-frequency queries, you are unlikely to get to the top of the issue, but you can collect good traffic on low-frequency ones. If you have a website (or better yet, several sites) with two or three hundred properly optimized texts, your monthly income can reach several hundred dollars.
A lot depends on the subject and a number of other factors. The next change in the algorithm of the search engine can throw your site from the first or second page of the search results. Accordingly, you will lose traffic and revenue.
In addition to Google Adsense, visitors can be converted through the sites of affiliate programs, placing advertising banners on your site. The main thing is the availability of solvent traffic.
Method 8. Open your YouTube channel
If you feel the makings of a charismatic video blogger, try yourself in shooting videos. Perhaps your content will win the recognition of the public and it can be monetized.
Now YouTube has tightened its monetization rules. Its connection is not automatic, but only for those bloggers who have at least 1000 subscribers and 4000 hours of viewing.
With every thousand views of videos, you can earn from 0.5 to 2-3 dollars, depending on the geographical location of your audience. A video with a million views can bring approximately $ 2,000.
Method 9. Construction of a solar power plant
The advantage of this method is that you do not need to fool your head with the production and sale of products. Electricity is bought by the state, and so far at very competitive prices. The only thing that is required from the owner of a field with solar panels is to maintain its working condition and provide protection from vandals and scrap metal hunters.
The advantage here is that the cost of panels is falling every year. The downside is that through the cost of buying electricity will also gradually decrease.