Opportunities come and go, and before you know it, you're looking back wishing you had started “that one thing” a few years back. You keep hitting your head against the wall because you were too scared to jump on “that one idea”, what now could have been a 7 figure income idea.
Don't let that happen to you, we've all been there. Me included.
What is passive income?
Honestly, there are probably a few definitions of passive income out there. For sake of this website, I define passive income as any source of income that can be generated on a less than part-time basis, and have the potential to make a full time income.
The more passive income streams I can build, the more money I make and the quicker my net worth grows. Thus, allowing me to live a life that allows me to give my family the time they need, and give back and help to the community in various ways.
Failures are steps in the right direction
…that is if you don't quit BECAUSE OF failure. Learn from failures and they become your stepping stones.
If you're not failing at something, you're simply not trying hard enough. After all, Thomas Edison (inventor of the light bulb if you didn't know already) said “I haven't failed, I've just found 10,000 ways that won't work.”
So what are the best passive income opportunities right now?! I've dabbled in quite a few different arenas of the passive income industry, and can say there are some good and some not so good. I'm about to show you where to put your focus, so that you can automate your wealth, and grow it exponentially through passive income streams.
The 15 best passive income opportunities for 2018
2. Sell physical products on Amazon
3. Sell physical products online through dropshipping
6. Create a blog
7. Build an Ecommerce store with Shopify
8. Become a freelance writer with Fiverr
9. Invest your extra change with Acorns
10. Set up automatic investments with Betterment
11. Learn how to trade on the FOREX market
12. Invest in peer-to-peer lending with Prosper or LendingClub
13. Build a niche website and place ads on it with Google Adsense
14. Sell educational courses online
15. Invest in the $500 + billion dollar cryptocurrency market with Coinbase
Whatever you do, the most important thing to do is START NOW! Trust me, you will be happy you did. None of the above are get-rich-quick money makers, but they are get rich put on autopilot once you get them up and going.
Personally, I currently have tried and tested every one of the above recommendations, and can tell you that they work. The nice thing is, almost every one of the above costs almost no money to start up, but can turn into an extra $1,000 to $5,000+ extra money per month!
When all is said and done, I have to give credit to my top passive income stream to these guys here.