You might not hear about passive income if you didn’t follow some pages about entrepreneurship.
In India, Passive income is not popular because you may be taught to work hard to earn more. Correct! Same for me.
I have always been taught to study hard and work in Job(Naukri) where You become a servent(Naukar) by joining other Business(JOB)
But among super-rich people, passive income generation is a practice to which they can’t live with.
Passive income is the secret to becoming and staying Rich. It is such a powerful tool.
Why Most People In India Belong to Middle-Class Family?
It is a fact that in India almost 85% of people belong to the middle-class family and the other 15% belong to riches.
Because nobody wants to create and do something that can actually help them to create wealth.
Keeping this in mind I am going to give you some point by which you can actually create a Wealth.
If you also belong to the middle-class family, then start doing then you may not belong to that category anymore.
But Try to focus on One at a time…..
Why Rich People Are Always Rich?
To the fact that they have a mindset to not belong to survival level(Only earning for Food, shelter, and clothes).
Having a mindset to become Rich is important because when you have a mindset to become rich then you start thinking about making more money.
But making money is not simple until you have the knowledge to make money. Passive income comes when you have knowledge about creating Wealth.
I highly suggest reading Rich Dad Poor Dad to know more about mindset.
List of Getting a Passive Income
1. Rental Income
I think this is the most common and favorites one. If you are also one of those who rented an extra room of their house then you’re smart enough.
Intelligently done, this can reap huge benefits. Buying a house at rock bottom prices and put it out on rent income is substantially more than EMI you pay per month then you have made a killing.
Having no one your house then all the rental income can be used for either living expenses or saving for the long goals.
In Gurgaon or in other metros cities, homeowners charge Rs 5000 per month for one unit.
2. Dividend Income/interest
The money that you place in saving accounts or Fixed deposits or other fixed-income instruments generates a small amount of money called Interest for you.
This can be a good option if you have enough money to generate anything substantial.
On the fixed deposit you can earn up to 9% rate of return. so on 1 Lakh of an FD, you get 9000 annual income- that’s quite small but you can start with a bigger amount as well.
Then you have the dividend income from equity – stocks and mutual funds. However, unlike interests on FDs and savings accounts, these are not guaranteed at all.
Do the proper research and due diligence on finding the right dividend stock. You don’t need to start by knowing everything, but you do need to learn and understand.
Start with small and build up from there while keeping the eye on high-income yield stock.
3. Become a Blogger
I think, you always search for the concept to earn online. This can be the best option to earn online because a blogger can easily make $1000 with the knowledge of basic SEO,
You have a crack a discipline and work a little harder in the beginning because you need to write some articles and after some time you will some good amount of money from blogging.
But it can be a source of active income if you did not play smart enough. SO Think about making it passive if possible.
4. Network Marketing or Direct Selling
If you want to start and earn from some legal source of income in India. That’s can be the best option.
Because you may be not sure about investing your money somewhere or if you don’t have a high budget to start a business.
MLM is something where you can invest thousands and earn in lakhs easily only if you have good communication skills and little motivation and courage to take some extra actions to earn more.
You can also join me if you really want to create wealth….
5. Publish an E-book
If you good at something and you can write a little PDF form book. You can write on non-fiction topics like online marketing, business development, career advice and the like are especially successful.
If you good then write an E-book and earn a passive income. Whenever someone will download your e-book, you will get the amount.
All you need to do is to advertise it in the proper way, that’s how you can earn a lot. You can also sell it on Kindle Direct Publishing.
6. Create an Online Education Course
Do you know that Education now becomes the most profitable business in India? If you are having a good place where you can open your academy and ask skilled people to teach your student. That’s it. Just Manage everything on your fingertip.
Or You can create a course and sell it out on other platforms like Udemy or Unacademy and earn money when new user register for them.
But as you know, this is also that requires talent…..
7. Sell Stock Photos
If you happen to be a photography enthusiast, consider selling your photos to stock images websites like Shutterstock, Alamy and out Indian website ImageBazaar.
There is a lot of competition and demand for a High-quality picture for business purposes.
You really don’t need a professional camera, You buy an SLR Camera for a good quality image. You can earn 50% of the commission whenever someone buys your image.
Thinking again to try one of these things doesn’t gonna help you earn a passive income. You need to find out the way to earn income while sleep else you will work until you die.
And if you one of those who are ready to work all their life just by earning 10k-40k, then dude this post is not for you anyhow.
Do Deep thinking in your mind and find out what else you can if you have a source of Passive income.
You will everything that a normal person can never think of doing. Travel the world without thinking about Budget and Buy a Luxury car that most of the people can not afford or do some spiritual work with that money.
If you want to join me, CLICK HERE
Thanks for Reading have a Great Day…………….