7 Urgent Things Beginners Need to Know About Passive Income
Beginners can make passive income in many different ways – but most online gurus or famous authors focus on specific niches like real estate, dropshipping or financial investments… Beginners, you can make passive income in other, less complex ways!
How can a beginner make passive income? Beginners can make passive income in a variety of ways that do not have to consist in large or complex financial investments. The following are the main ways beginners can make passive income:
- Brick & Mortar Businesses
- Online businesses
- Side Hustles
- Peer-to-Peer Economy
What does that actually mean? It means it has never been easier for beginners to make passive income! This website, Beginners Passive Income, is dedicated to providing beginners with guides and ideas on how to make passive income. Read on for more information on how you can make actual passive income, even if you are just starting out.
How Can a Beginner Make Passive Income?
#1. The Difference Between Passive Income vs Active Income
If we took the example of blogging again, in the case of active income, you would be working on your boss’s or client’s blog in a 9-5 format job, or as a freelancer. In that case, you are working to build a passive income blog for someone else, while you invest your time and physical presence to make an hourly or flat rate.
If you are making active income working for someone else, theoretically, you have to wake up in the morning, go to work, and complete tasks throughout the day for your boss and colleagues. If you are absent one day, you may not get paid. If you are sick or go on vacation, you may not get paid. This can be a great way for people to make money if they need it right away or to build up a base to start making more passive income.
However, Passive income can provide you income at any time of the day. If you put in the initial time and effort to build a strong, recurring passive income stream, it will provide you with income while you are playing with your kids, taking the day off, on vacation or even sleeping.
Want to learn more? Read this article it’s a great place to start when you want to learn more about active income vs passive income. The article covers the following topics:
- Passive Income vs Active Income [Your Time]
- Meh, Passive Income is a Utopian Idea
- I’m Not a Rich Person. Can I Make Passive Income Too?
- I Can’t Quit My 9-5. How Can I Make Passive Income?
- Do I Have to “Invest Money to Make Money”?
- How Long Does it Take to Make Passive Income?
- Is Passive Income Taxed Differently from Active Income?
#2. Passive Income is Real & It’s Never Been Easier for Beginners
We live in a time full of so much opportunity! But, due to bad publicity and a multiplicity of guys standing in front of expensive cars on YouTube selling false hops, the idea that passive income actually exists has become highly questioned. However, passive income is real and can be created through traditional means such as stocks, bonds investments, and real estate, or through modern means like online peer-to-peer platforms, blogs and businesses.
Click here or on the button below to learn more if you have doubts about passive income actually being real. This article has a look at some passive income questions beginners may have, like if passive income is a myth, how it can make you rich.
The article also includes some cool passive income ideas for beginners:
- Passive Income is Not a Myth
- Can Passive Income Make You Rich?
- The Truth About Passive Income [Your Time]
- Passive Income Ideas for Beginners
- Follow Your Passions No Matter What
#3. Passive Income Can Make You Rich
You may have read that title and thought, awesome! Now I know exactly how to get rich! Passive income is the way to go, I knew it. Sure, but before you get there, you need to know where “there” actually is. What does “rich” mean to you?
There are hundreds of ways you can make passive income like through traditional financial investments, or online or by starting a business, or through peer-to-peer platforms. But you need to know how you define “rich” before you decide on the route you would like to talk (which you can check out here on our site in the article “5 Passive Income Sources & How to Choose the Best One”).
Click on the link here if you do not yet know how much passive income you need to be “rich” and what it takes to become rich from passive income:
- But How Much Passive
- Income Do I Need to be “Rich”?
- What Does it Take to
- Become Rich from Passive Income?
#4. The Benefits of Passive Income
We already had a look at the difference between active vs. passive income. But if you still aren’t convinced of the numerous benefits of passive income, we would like to invite you to read this article on our blog that contains 18 benefits of passive income. Here is the main one:
Passive income is freedom to us. Without the pressures of restraining your time (and your actual life) to a value per hour, you will have much more flexibility to generate income that won’t be capped off by the number of hours you can work per week. If you still aren’t convinced, read the article to find out the 18 benefits 😉
#5. How Much Passive Income You Can Generate
This article covers the following topics:
- Types of Passive Income Sources
- Number of Passive Income Sources [Diversification]
- Your Motivation, Perseverance And Skill [Upfront Effort]
- Building a Non-Active, Scalable, Sustainable
- Passive Income Source
- Can Passive Income Make me Rich?
#6. How to Choose the Best Passive Income Source
There are multiple ways to make passive income despite the myths of overnight success and the obscure financial advice you may find across the web. Passive income may be generated by investments, but could also come from an online business, brick and mortar businesses, the peer-to-peer economy or even side hustles.
Generating passive income does not have to require investing money (check out this article for ways to make passive income without spending any money), but it usually demands a lot of time to setup. This article covers each passive income source in detail, while providing examples and passive income ideas, so you can decide which kind of passive income is best for your needs.
- 1. Peer-to-Peer Economy Income Sources
- 2. Businesses That Can Be Automated or Outsourced
- 3. (Monetized) Online Businesses
- 4. Side Hustles That Are Eventually Outsourced
- 5. Passive Income Generating Investments
- How do I Know Which Passive Income Source is the Best for Me?
#7. Passive Income Ideas for Beginners
This website, Beginners Passive Income, provides beginners with hundreds of ideas to make passive income. We don’t focus on more complex ways to make passive income like real estate or stocks and bonds. Sure you can make passive income with those types of investments, however, they may not be the most beginner-friendly ways.
Head over to our home page for hundreds of easy passive income ideas for beginners. They are each ranked by how:
- Expensive (Startup Costs)
- And by how much ROI (Return on Investment) they provide.
How can I make passive income with no money to invest? You can make passive income with no money to invest by using peer-to-peer platforms offering rentals (AirBnB, renting your bike or your parking spot), or other by other means including side-hustles (copywriting, being a virtual assistant, creating audio books etc.) Learn more in this article.
How do I start making passive income? Before you get started making passive income, know what your goals are (how much money would you like to make), and how much passive income you can generate. Then choose the best passive income stream for your needs and goals. Then you can choose a passive income idea depending on your skills and needs.