SALARIES / DEC. 31, 2014
version 4, draft 4

How to Earn a Passive Income – All You Need to Know About Online Work

For millions of people in the Western world, it can be quite difficult to survive on just one income. This is why many seek out a second, part-time job to help offset the numerous growing costs they encounter, whether it’s higher utilities, rent and groceries or even just paying off a loan. A part-time job seems like the only refuge for the lower- and middle-class today.

Instead of working nights after clocking in eight hours why not attempt try online work?

The world of working remotely and on the Internet is being enhanced every single day. Due to cloud storage, freelance websites, increasing mobility, online communication tools and many other elements available on the World Wide Web, a lot of people can earn passive income by completing work online.

As it has previously been written, by the year 2020 freelancers are expected to account 50 percent of the entire American workforce. At the present time, there are 42 million Americans working as freelancers and earning a steady income that pays the landlord, covers groceries and keeps the lights on.

The idea of working from home on your schedule may entice a lot of people out there. However, if the concept of depending on garnering your own clients and isolating yourself from the rest of humanity by sheltering yourself to an at-home workstation doesn’t please you, then settling for passive income may be the best alternative.

Here are seven ways to earn a passive income while still keeping your full-time day (or night) job:

1. Blog 

Yes, there are millions of blogs out there, but let’s be honest: a large chunk of them are not maintained, the content is poorly written and designed for the strict purpose of Google ads. If you’re a professional - journalist, herbalist, legal clerk or cook - then launching a professional blog with plenty of how-tos, reviews, articles and other relevant information related to your field can eventually generate passive income. 

2. Freelance 

Some people wanted to be writers growing up while others wanted to be graphic designers. Unfortunately, they veered away from this career path and started a job in an entirely different field. If you do have talent in any field then why not offer your services as a freelancer? There are a various freelance websites out there that connect the freelancer with a client, such as Elance, oDesk and ProBlogger. It may not generate $50,000 a year to start, but it can put some money in your pocket. 

3. Beta Testing 

Prior to the launch of a website, webmasters may wish to keep the site in beta mode and hire a number of people to test out the website to determine if it’s easy to navigate, if it has any malfunctions and everything is simple to read before it goes live. It doesn’t pay six-figures, but if you’re really good at web design then, this is a great way to make some passive money.

4. EBooks 

Whether you’re a master of suspense or you can offer advice when it comes to natural health, then penning an eBook is a wise step to take. Although it can be hard to sell an eBook, performing the necessary research and due diligence can make it a lot easier to make a few bucks per month. Who knows? Perhaps it’ll be a hit and you can write more books.

5. Arts & Crafts 

It’s likely that you know at least one person who is a guru when it comes to arts and crafts. They can design anything and make it look very pretty. If you’re one of these people then why not create a webstore and sell these products on Etsy, eBay or Amazon? You’ll be having fun and you can earn some extra cash. 

6. Peer-to-Peer Lending 

The peer-to-peer economy is growing exponentially. From Uber to Airbnb, there are numerous ways for the average person to make money without having to launch a corporation or establish a business. One of the more interesting methods of the peer-to-peer economy is lending others money. This means you’ll be a bank, lending out money and determining what the interest rate will be.

7. Podcasts 

Do you know a lot about economics, Egyptian history or films? Why not start a podcast? Podcasts have become increasingly popular in the last couple of years, and if you know some interesting individuals with a great deal of insight on a certain topic, then you can definitely create a compelling podcast for others to download.

Starting a freelance career on the side primarily through online work is rewarding and exciting. You are your own brand, you set your own hours, you choose your clients and you have the potential to turn it into a career. There’s nothing wrong with working as a freelancer. In the meantime, enjoy that passive income and spend it or invest it wisely.

 

Image: iStock

Get our FREE eBook!
'6 Steps to Landing Your Next Job'

LEAVE A COMMENT

0 comments

 

RELATED ARTICLES

Get our FREE eBook!
'6 Steps to Landing Your Next Job'


G up arrow
</script> </script>