If you are a working professional and have a busy schedule, you don’t want to spend too much time creating passive income streams over a long period. If you are earning well, have disposable cash at the end of each month, you have a good start. Here are six passive income ideas that are:

·      fast to launch

·      easy to understand

·      passively managed

Passive income idea 1: dividends or interest income

In my last article <How To Use Fixed-Income Investment To ‘Buy’ Passive Income for Life>, I explained three types of fixed-income funds and their work. You can start earning passive income immediately from those types of investments. Take the Alliance Income investment; for example, you receive $0.06 passive income for each share. The more you invest, the more you receive.

Before spending all your hard-earned money, put some aside; the more, the better, and invest in high-dividends or income type of funds. Over time, your passive income will grow steadily. The beautiful thing about it is that you can use passive income and reinvest if you don’t need the money.

Passive income idea 2: creating digital contents

Digital contents are your intellectual properties. It is like books, films, or songs. Those creators receive royalties from them. As an individual, even if you are not professional in those areas, you can create online content. Recently I interviewed Art of Purpose, the creator behind the Twitter account @Creation247. He is a school teacher, but he managed to make passive income from his ebook. Later he even quit his full-time job thanks to his Twitter success.

There are two ways to create digital content: create from what you already know, learn it and create your content. You can find a niche of a topic that you are an expert on. For example, I know someone who sells an ebook of tips and hacks of airline points.

You can write articles on Medium or create content on Substack. Those platforms help content creators earn and get paid out smoothly. You might think you need to generate a lot of content, which takes a lot of time. Is it passive income? Yes, it is. I believe passive income does not happen from one day to another unless you already have a large pile of cash to invest with. You need to put in the effort to create a base; after a while, your content will start earning passive income for you. I wrote one article on <How To Earn Passive Income With Your Internet Hotspot At Home> in Jan this year, it has been earning me passive income every single month since then.

Passive income idea 3: crypto staking

In blockchain world, there are different types of mechanisms. In the proof-of-stake blockchain networks, validators have higher chance to validate a blockchain transactions if they have more stakes in the network. By validating the transaction, validators receive tokens as a reward. That is how staking can generate passive income. The stake is usually the token used in the network. For Ethereum, it is Ether. It is one of the biggest networks. But it is in transition from proof-of-work to proof-of-stake. Eth2.0 token holders can stake their Eth2.0 and earn between 6% to 7% annual return on their tokens; besides, the token price might be appreciated. Some PoS networks can give stakers up to 20% yearly return.

There are many ways to stake. You first need to hold those tokens, which can be easily purchased on crypto exchanges such as Binance. You can stake at home using a hardware device or stake on crypto exchanges with a fee. You can read <How To Earn Passive Income With Your Internet Hotspot At Home>  to learn more about staking and earn Helium tokens at home. Or you can read <Earn Passive Income With Ethereum 2.0 Staking, Risks vs. Rewards> if you want to learn more about Ethereum staking.

Passive income idea 4: rental properties

If passive income is your goal, creating a passive income through rental properties should be one of the top priorities. For many people renting out their property has been helping them create passive income for years. The first step to becoming an owner-occupier or tenant in this arrangement is getting preapproved from banks and mortgage lenders.

You can buy any kind of house as long as it is not overpriced because you will eventually rent it out. If you have enough money, look at commercial spaces that interest you too! When buying anything, remember: location matters most!!! Find a place where there’s heavy traffic during daytime hours but away from public noise during nighttime hours so occupants will feel comfortable living there. You can earn rental income from the property and potential appreciation from the price increase. It depends on where you live; if you have a mortgage on the property, the mortgage payment is interest-deductible. If you sell it and buy a larger unit, you can defer the capital gain tax. Exact tax regulations vary by country and region. Rental property is very appealing to many people, but you need the initial capital to start investing.

You can start by creating other passive incomes which have lower entry-level and accumulate your wealth over time. Maybe a few years later, you can start with this investment.

Passive income idea 5: affiliate programs

Many companies have an affiliate program. If you are a user of their product, you might find your affiliate code or link in your account. For example, recently, Revolut has a referral program for each new Revolut customer, referred by the user, to receive 85 euro cash. The same programs can be found in many other digital banks.

The most common affiliate program is the Amazon affiliate program. Anyone can register to become an Amazon affiliate. You can create a free account. For most of the products on Amazon, you can have a personalized link. Whenever someone purchases the product through your link, you can make a small commission. But you have to have three transactions from your affiliate links within 180 days to be qualified as an Amazon affiliate seller.

Passive income idea 6: activate your assets

Do you have any assets that are idling around? Start to activate them! For example, if you have an extra parking lot, you can rent it out. A friend of mine rents out her parking lot in Hongkong because she does not have a car. And that makes her some nice passive income each month. If you don’t care how your car looks, you can have some ads on your car, and advertisers pay. If you are driving to work, you can pick up a passenger or two using car-sharing apps.

If you are going on an extended vacation and where you live has a high demand. You can rent out your apartment for short-term travelers. I have seen many ads like this on Facebook. My neighbor went on a long trip and rented out their apartment.

You don’t have to actively create something to earn passive income. You can start by using what you have and reallocate this resource to someone else who needs it and is willing to pay for it.

Creating passive income is easy. In the beginning, you might just earn a few dollars or so, but it is a start. If you can make few dollars doing nothing, you can earn a few hundred next. Once you create a system and automate the process, it will take you much less time to make an equal amount of passive income. And you can use the extra time to grow your portfolio. If you do it consistently and plant many ‘seeds,’ your passive income can replace your full-time job one day. By then, you can choose not to work anymore!