Want A Passive Income? 6 Investment Ideas You Need To Try

Let’s face it; nobody wants to spend their life working hard to make money. We all dream of making a living while we sleep and spending most of our time playing golf or taking dozens of vacations each year! You might think that sounds like a far-fetched dream, but it’s actually a reality for many savvy entrepreneurs!

Take the story of Markus Frind as an example. The Canadian software developer created the famous dating site Plenty of Fish in his spare time back in 2003. He turned it into a multi-million dollar enterprise and only worked around ten hours a week, believe it or not! Back in 2015, he sold the site to his competitor Match for a whopping $575 million!

Frind was lucky in that he didn’t need any financial investment for his website. He did have to invest a lot of time in the business as it grew, working “normal” hours when his company had around 75 employees. Of course, now that he sold it and made a hefty profit, he’s free to spend the rest of his life doing hardly any work at all!

When you devise a passive income strategy, you’ll have to invest something in it - money, or time. But, once everything gets set up, you can let your enterprise make you cash while you do other things. Here are six passive income investment ideas that are most likely to bring you real wealth:

1. Peer to peer lending

There’s no denying the financial markets have changed a lot in recent years. Nowadays, banks and institutions aren’t the only lenders in town! As an individual, you could lend your spare cash to people and earn interest on the money paid back to you.

2. Property

If you have a lot of money burning a hole in your pocket, why not invest it in bricks and mortar? There’s always a demand for rental properties, and you wouldn’t have to do much work to maintain your portfolio of houses. Take a look at this property site to see some examples of what your money could buy you.

3. Company stocks

Are you a keen financial trader? If so, perhaps the ultimate passive income strategy is to invest your money in company stocks. A diversified portfolio will ensure you limit any losses so that you make a healthy return each year.

4. Stock photo sales

Those of you that are photography buffs may wish to sell images on a stock photo site. By uploading your best shots, you could make money from people wanting to use your images on their websites or printed brochures, for example.

5. Affiliate marketing

Are you an expert in a particular field? If so, why not put that knowledge to good use by creating an affiliate website. The way they work is simple: you promote a company’s products and services on your site. Any sales generated by leads from your site will earn you a commission.

6. Cashback

Earning while you spend sounds like an intriguing concept, don’t you think? But, it’s true that you can make money while you spend it! Buying via a cashback site is essentially like affiliate marketing. The only difference is, the site owner shares the commission with you!