Sometimes, no matter how hard we try to be active, life happens and we get temporarily unable to do work. One of the best things we can do for ourselves is to set up a list of passive income stream so we are covered at all times.
A passive income stream is one you earn money from consistently, even when you’re not actively servicing it.
The good thing with such streams of income is that they can be on anything, especially on channels or niches you have an interest in.
Today I’m going to be sharing with you on four ways you can build up a stream of passive income.
Some Passive Income Streams You Should Totally Check Out
1. Amazon Kindle Direct Publishing (KDP)
I got to know about Amazon KDP in 2015. KDP is a publishing program where authors can self publish their books and earn a royalty for life, so long as the books keep selling.
You earn between 35 -70% of the book price, depending on the prize plan you select.
The beauty of KDP is that you can stop writing for months and still get a steady check sent to you or get your earnings paid into your payoneer account.
You can also earn a passive income as a writer on hubpages. The way it works, you publish an article (which should be at least 1,150 words long) and sign up for either of these three ad programs
– google adsense
– hubpages ad program
– hubpages amazon program
Your earnings are sent to your PayPal account which will be linked to your account upon enrolling for any of the ads programs.
3. Develop an Online Course
Online courses are great because you set them up once but keep earning for a long time to come.
Most people usually set up a course on an area they are very knowledgeable in as this makes it easy for them to pass across the needed message.
Alternatively, you can get someone to develop the course for you and buy this off them.
4. Invest in Treasury Bills/Shared/Bonds
Offline investments are also a good way to build a good passive income stream. You put a particular amount of money into the investment and earn a set amount of profit/dividend monthly or yearly while your capital remains untouched.
These are some of the ways you can build a passive income stream. Please note that it takes a while to set this stream up; you may need to dedicate a considerable amount of time to get it set up. However, once it is up and running, your income becomes constant and pays for a long, long time.