In 2020 many are realising that working a 9-5 with a set income doesn’t fulfil their need to be financially free. With many different ways of achieving, any steam of passive income is great to ensure that you don’t waste your time working.
Passive income is income that requires little to no effort to earn and maintain. You can earn money without having to constantly work and better yet, you are working for yourself. So the money you earn is all yours.
The benefits of earning a passive income are endless, however here are the top 5 reasons:
The most popular and classic streams are renting out assets such as properties or cars and investing in stocks. However, these streams have high investment rates and are high risks.
Intangible products are the most modern way to go. Requiring little investment and the risk not being as large. These streams could be a eBook, course or a ecommerce store. As they are online the time spent on maintaining the product or store is minimum.
In the most recent years drop shipping has become the most popular stream of passive income. By finding a Winning product and a supplier, uploading to a store and then advertising. All you do is push the products out there, fulfil orders and then collect the profit. And the best part is the investment is so low! Only needing a platform for your store (Shopify $29) and product research search tools. You can also find all the tools you need such as Product, advertisement, Influencers, competitor analysis, pore made description + more with Dropship Spy fo5r only $20 ($12 for first month with code LOCKDOWN).
Be sure to start your passive income today! To learn more about how to start a stream with little investment and risk be sure to read The Ultimate Guide to Dropshipping