What are the best ways to make residual income?

+1 vote
asked Apr 12, 2019 in Other-Finance by msopuye (320 points)
What are the best ways to make residual income?

2 Answers

0 votes
answered Apr 12, 2019 by Shawn (99,990 points)
Some great ways of making residual income or passive income is to invest in real estate and rent out homes to people as everyone needs a home and a lot of people will pay you good money to rent out a home.

Other good ways of making residual income are, open a high yield savings account, invest in stocks and bonds, try affiliate marketing or peer to peer lending and write a book or write an e book and sell it online.

You can also make a good residual income by creating youtube videos and make income from the advertisements on those videos or create a blog and monetize the blog with ads such as media.net, Adsense or sell your own ad space.

If you get enough website traffic to your blog you can earn $50.00, $100.00, $200.00, $300.00 and even $1,000.00 per day from Adsense, Media.net or affiliate adverts or selling your own products.

I make around $500.00 to $600.00 per day from Adsense alone and get around 2 million visitors to my blog per month.

It took me around 8 years of blogging consistently though to get to that level of traffic and make the $500.00 to $600.00 per day.

For the first 2 years I barely made $1.00 per day but after very hard work and not giving up I now make more than my day job ever made me and I work less hours.
0 votes
answered Jul 2, 2019 by palone (5,550 points)

I think investing is a good variant. For example I want to invest in ICO. As you know no investment is safe, there is always a calculated risk. ICOs are generally high risk / high reward. I would only invest into them if you know what should be in a successful ICO and you know what you are doing. Jumping in and throwing capital into an investment in an sphere you do not understand raises the chances that you lose your investment. It could pay off, but it would be down to luck more than a calculated, well thought out investment. But you can use for example this ICO Rating https://www.crypto-rating.com/ to find the best variant!

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