Streams of passive income | Go X is a great way to earn money without having to work all the time. Some forms require more work than others, but all can give you serious money over the long term.
How can I make 20k as a passive income?
Multi-level marketing, also known as network marketing, is a great passive income stream. With companies such as Pampered Chef and Young Living Oils, you can sell products and earn commissions.
Print on demand is another profitable passive income stream. This involves working with suppliers to create white label products. For example, Cafe Press allows you to custom design T-shirts. These are then sold to customers on a per-order basis. You can also get royalties for popular designs.
Many creative people generate passive income by creating digital products. These can be downloadable files or streamable content. The profit margins are usually higher.
For example, an online course can be pre-recorded or marketed. Once the product is sold, you can re-sell it as often as you wish. It’s important to produce content that will keep your audience engaged.
You can also earn passive income by renting out your home. You may need to invest time in preparing for your rental. You can also look into a car rental service. Alternatively, you can invest in a stock.
Inventions can also be a good way to generate passive income. You’ll need to have a product or invention that is valuable and solves a problem. Some inventions can be a big risk, however.