4 Successful Passive Income Ideas for 2019
What is Passive Income?
Passive income is when you’re making money while you’re with the kids (if you have any) or better yet, in Aruba. It’s stocks, interest earned, and real estate. There are many other ways to earn money through passive income.
Check out our Successful Passive Income Ideas for 2019, listed below to start earning now. By using more of these ideas, that means more money in your pocket! Who could say “no” to that?
Active Income vs Passive Income
Active income is that job you use to pay the bills. It’s the one that you devote time to on a regular basis. Usually, this is your main source of income.
In other words, it’s where you trade time for money.
Passive income might be one you check every once in a while to manage it. The key difference is that you make money even when you’re not awake.
Pretty sweet, right? Who wouldn’t want to start making money while sleeping? Pat Flynn at Smart Passive Income is the epitome of success at generating Massive passive income.
Like active income, passive income is taxable too. If your passive income includes property that you own, it’s taxable. For more ideas on whether your passive income with Airbnb is open to taxation, click here.
The passive income ideas for 2019 include some that are not taxable. Some of them are so easy, it’ll be hard not to grab your phone and start NOW!
Passive Income Ideas
There are many ways to include passive income into our daily lives. Some of the passive income ideas for 2019 below are as simple as using an app or driving around your town. With ideas like these, passive income will be as easy as clicking the “like” button on Facebook.
Passive income ideas for 2019 #1 – Make your Car Work for You
Going out of town and would like to make money? There are ways to make money using your car whether you’re there or not! These are the best passive income businesses to get the most out of your car!
- Getaround lets you rent out your car. Whether you’re out of town or have a car lying around, people can rent it. That means you can earn cash on the beach while your car is still getting a workout.
- Wrapify looks at where you drive around and sees if there’s a company looking to advertise through you. They put a wrap to advertise on your car and you drive around to earn money! No need to go out of your usual way, you’re earning for just doing your normal drive!
Passive Income Ideas for 2019 #2- Investing In Stocks
With Passive Income Ideas for 2019, there are new spins on this classic! Keep in mind when investing in stocks or in real estate, there are taxes.
- Dividend stocks pay you for investing in them. Acorn offers a welcome bonus and connects you with dividend stocks. By paying you for investing, you can buy more dividend stocks to get more income coming in! They can use “round ups” from your regular shopping to help towards investing when connected to your debit card! It’s a great investment tool for first-time investors!
- Which company to invest in can be difficult, instead, try investing with a “robo-advisor”. These programs decide based on the market trend where to invest for you. Try using sites like Ally Invest, that offer low trading amounts as well.
Passive Income Ideas for 2019 #3- Real Estate Investing
Real Estate always seems terrifying. Anyone who has watched renovation shows at 3 am in the morning know this. Those who also watched those shows know it can yield a big return.
Today’s companies make this easier for you! No need to buy a broken house to redo. Now you can invest in a property to boost your passive income even if you can’t buy a full house.
How is this even possible? Read on fellow home show season binge-r!
- Roofstock lets you buy property to lease out with tenants already occupying it. By doing this, you can earn the benefits starting at signing. Plus, one of the hardest things to do is find tenants and that’s already done for you!
- Can’t afford to buy a whole property? I got you. Try Fundrise— the first online community that allows average people to invest in real estate for $500. By doing this, you are able to invest in real estate without having to pick up a hammer and bash some walls. Also, pick how you want to invest- whether more aggressively or more cautiously.
- Careful on the name of this one: Realityshares is similar in name to Realtyshares who shut their doors in 2018 to more investors. What’s the difference? Well, Realtyshares is only for those who are an accredited investor while Realityshares lets you start at a $5k minimum. Realityshares requires working through E-Trade to use them in order to invest the same way as Fundrise. That is, with crowdsourcing investments for real estate ventures!
Passive Income Ideas for 2019 #4- Airbnb Investments
Of course, there’s always Airbnb passive income as well. Instead of renting out your spare room, you can always invest in property for Airbnb. Whether it’s a tiny shack in a large city or a house in suburbia, Airbnb has massive potential for passive income.
By investing in leasing out properties to rent out on Airbnb, you increase your passive income. Using the Airbnb Arbitrage approach, you can avoid having to pay off a mortgage by renting out places to sublease. It can sound complicated at first, but my e-course and blog can help!
By working with your landlord, you can start an Airbnb business without owning property! To learn more about Airbnb arbitrage, click here. If you’re thinking about looking more into becoming a host for Airbnb, I recommend starting here.
Bonus Tip: Lending Club lets you invest with a purpose! It’s a peer-to-peer lending site that allows you to invest in society. You can pay off others’ bills, build their dreams, and then get paid back for it with monthly payments.
It’s a way to help society and your local community while still building your own passive income.
Passive Income for You
Passive income is always helpful. Looking at the passive income ideas for 2019 above, you can always bring these assets to Airbnb. By doing so, you’ll be sure to make the most of passive income. Another excellent resource is my other post in case you need business ideas for 2019
What are some ways you utilize passive income in your life? Please share with me below!
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