• Xan

10 Ways to Generate Passive Income in 2020

Updated: Jul 27, 2020

As I thought about happiness, one component that I found critical for long-term happiness was the Rich Dad, Poor Dad definition of financial freedom: earning enough passive income to cover your living expenses. I've spent a fair amount of time researching passive income options, and here is a list of some of the top ones that I found. I have done, am doing, or plan to do many of these. Number 6 will look familiar. Many of these can be started with very little money (although some require more), but it will require time to start building up passive income through these. Here are 10 ways to generate passive income in 2020:

1. Online class through Teachable

2. Sharing stock photos through Foap, Dreamstime, Shutterstock, Adobe Stock, Photomoto, iStockphoto

3. E-book through Amazon Kindle or thebookfactory.com

4. E-commerce through Shopify

5. Investment in real estate either through Real Estate Crowdfunding sites (Fundrise, Rich Uncles, Crowdstreet, Realty Mogul, PatchofLand) or the old fashioned way

6. Create a mobile app

7. Affiliate marketing

8. P2P Lending Through Prosper or Lending Club

9. Start a blog

10. Youtube Channel

#passiveincome #financialfreedom #financialgoals

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