Top Ways to Earn Passive Income in 2017
PASSIVE INCOME IN 2017
There is a lot of chatter about passive income. A lot of naysayers out there will tell you that no income is passive. While this is true to some extent, we must examine what passive income really means. Passive income means you can do some work during the present, and make money from the work you did, for weeks, months, and years into the future. The more work that you can commit yourself to, the more it will compound over time if you are successful. The goal of passive income is to earn time to get more income. In this article, I have collected the best opportunities for Passive Income in 2017. I will report back at the end of the year to let you all know what I’ve made from these ventures.
The Top 10 Ways to Earn Passive Income in 2017
- Kindle Ebooks
- 2nd Tier Sites
- Investing in Bitcoin
- Real Estate
- Digital Downloads
- P2P Lending
All of these methods I am currently using. While some of these methods make more than others, as a whole you can begin to see how utilizing all of these methods can help you achieve your financial goals. My primary goal for 2017 is for my passive income streams to surpass the salary at my current job.
Earn Passive Income from Apps
Recently, I had no clue I could earn money from apps that did not involve work. For me passive income was about gaining my time back. I did not want to sit down and watch videos or take surveys. For this reason I avoided digging deep into this earner. Recently, a friend of mine mentioned an app he was using to passively earn $15 a month. While this is little in the scheme of things, it definitely fit my model of getting as many streams as possible
This app is pretty interesting. Upon installing it, you agree to allow the programmer to display ads on a lock screen. These ads are not intrusive. Furthermore, the app does not pay you any more or any less for clicking ads or engaging with them. Simply download, and let your funds accumulate in the form of carats.
Data Collecting Apps
The next collection of apps will also let you earn passive income in 2017. These simply mine your data and sell it. Since major apps and companies are already doing this, I said what the hell and gave them a try. The best part about this deal is that these apps do not increase your data usage, nor do they effect your battery usage.
Nielsen Mobile Panel for iPhone Users
This app will pay you around $50.00 a year to have it on your phone. The con is you cannot download it from the app store and you must have an iphone to do so. However, if you are willing, it is an easy way to accumulate some cash.
Placed Panel App
This app does the same as the Mobile Panel app for the iphone. You earn points that you can either exchange for entry’s into sweepstakes. You can also opt to redeem it for cash.
Like the Nielsen Mobile App, you cannot download this app from the Play Store. You must qualify here. Once you have qualified you can download the app and start to earn around $75.00 every year.
Media Insider’s Panel
This app measures the types of activities you do on your phone and sends it to media channels. The great thing about this app is you can download it on up to 3 devices, which would earn you $185.00 a year.
This app measures the time you are active online, as well as the types of sites you visit. The information is sent to Google. Unfortunately the rewards from using this app only come in the form of gift cards.
This app observes what sites you visit on your phone. The payout is in the form of a rewards game, in which everyone wins something.
While it is clear that using these apps are not going to make you rich, you could easily earn $500 to $1000 a year from their use. For many that is more than a week’s worth of work. You could then reinvest the money into something that will earn you more money in the future.
This is quite frankly my very favorite territory to earn passive income. So far I have made over $600 in one month, and am currently trending over $300 every month. I have 15 e-books so far. I am currently working on outsourcing e-books to increase my production. I could easily see this avenue bringing in 6 figures in the future.
You earn money with three different ways.
1) E-book purchases
2) Pages Read
3) Physical Books Purchased
The downside of this venture is that it requires quite a bit of skills to get going. The Kindle Money Mastery Program is probably one of the quickest ways to learn this venture. Click Here to see what Stefan Offers.
K-Money Mastery Program
2nd Tier Sites
While this method isn’t exactly passive, it isn’t very time consuming either. I list items I get through yardsales, Goodwill’s, and sites like AliExpress. The sites do most of the marketing for you. All you do is create the listing, respond to customers, and ship when items sell.
Here is a list of 2nd Tier Selling Sites that I am currently using:
Investing in Bitcoin
I tried mining bitcoins a while back and came across the conclusion that I was unwilling to put the money into the hardware. I used both a computer and USB stick that earned me the sum total of pennies in a month. After the realization that I had spent more on the hardware and electrical costs I decided this was not for me. Without the right equipment and team I do not see mining bitcoin as a profitable venture moving forward.
However, I do now own bitcoins. Even better yet, bitcoin is growing exponentially. Had I invested early on I would be wealthy. I might have missed the boat on the early days, but it is clear the crypto-currency is continuing to grow.
As I write this article a single bitcoin is currently worth $1175.59, and if it continues its upward trend may be worth way more in the future. The two cons to this are simply that it takes a learning curve to use and protect your bitcoin, as well as it is a new and volatile economy that is subject to change very quickly.
There are a few other cryptocurrencies out there. Click HERE to see the list on wikipedia.
Real Estate and Landlording
Real Estate is probably one of the best methods for real passive income in 2017. The younger generations are not interested in buying homes, and so the market is sure to increase. Considering you can leverage debt and have the renters pay it off for you, I find it a sure thing (if you invest in the right property).
There are many methods, including having no or little money down. For me however, I want equity. I plan on buying my first rental property later this year. I will put down $10,000 for a property worth $100,000. Keep checking this blog and I will detail my journey into landlording and the fruits it produces for me.
As a kid I always wanted to be a writer. Now in my late 20’s I have made this dream a reality. I currently own 3 blogs that are bringing me in some nice passive income every month. The possibilities are really endless here. I have monetized each blog with a different strategy. Here are the methods I am currently using:
See an ad? While the sum is little based on the traffic I get, I still earn quite a bit from this.
I have 2 store fronts currently. On one blog I house all my product in house. The other store front I am using utilizes a method of drop shipping.
These earn me quite a bit each month as well. I am basically paid to refer people to products. I’m not ashamed of this, but I do have my morals about it. I would never support a product I do not have or use myself.
This one so far hasn’t earned me much passive income, but it is still there. I am using graphics from a shirt I had designed (outsourced) and putting the vectors on the following sites:
There are quite a few other sites I haven’t mentioned here. You can even use Etsy for this. I think there is a lot of opportunity in this niche, but it is not my forte.
Peer to peer lending is the concept that you reduce risk in investment by having a multitude of investors. If one loan defaults, no fear, another will take its place with a return. Your investment is so minimal, and since most investments are yielding returns it can be easy to yield 10% back on your money. The only downside to this is a lot of loans do not get passed and when they do, they take time! Anyways, here are some popular p2p websites that will earn you some passive income in 2017:
I recently went to a seminar where the speaker was earning over 10k each month by advertising on his podcasts. As his channel grows he is getting more interest from advertisers.
He also posts his podcasts on Youtube where he gets money from running ads as well. Basically he is earning 2 income streams for the production of one piece of content. You can expect me to be producing a podcast later on this year.
This list is in no means conclusive. There are many ways to earn passive income in 2017 and new ways are surely to develop. I’ve only gone into the ones that I am currently using or planning to use. I’ll be doing a recap and linking it to this post later on in the year to let you know how my passive income journey worked out, what I made, and what I have learned.