9 Passive Income Ideas - How I Make $27k per Week
Ali Abdaal・36 minutes read
Passive income requires providing value through various methods like investing in stocks, starting a YouTube channel, podcasting, affiliate marketing, selling digital products, hosting online courses, creating membership programs, or developing software as a service. Each avenue has varying levels of difficulty and requires effort and consistency to generate income.
Insights
- Passive income is money earned without direct time investment, often through methods like investing in stocks or creating online courses, emphasizing the importance of providing value over quick gains.
- Various avenues exist for generating passive income, such as YouTube channels, podcasts, affiliate marketing, and online courses, each requiring different levels of effort and audience engagement to reach the goal of earning $100 a month, showcasing the diversity of options available for those seeking financial independence.
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Recent questions
How can I start generating passive income?
By investing in stocks, shares, or creating digital products.
What are some beginner-friendly ways to make passive income?
Investing in index funds like S&P 500 or starting a YouTube channel.
How much money do I need to invest to make $100 a month passively?
Around $12,000 invested in stocks or shares.
What is the key to making money on YouTube?
Creating engaging content and reaching monetization requirements.
How can I earn passive income through affiliate marketing?
By joining programs like Amazon Associates and driving website traffic.
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Summary
00:00
Generating Passive Income Through Investments
- Passive income involves generating money not directly tied to time
- Making money requires providing value, not get-rich-quick schemes
- Nine ways to make passive income discussed
- Investing in stocks and shares is an easy way to start generating passive income
- Index funds like S&P 500 recommended for beginners
- Need around $12,000 invested to make $100 a month passively
- Starting a YouTube channel is straightforward but making money requires effort
- Eligibility for monetization on YouTube requires 1,000 subscribers and 4,000 hours of watch time
- Roughly need 50,000 views to make $100 a month on YouTube
- Maintaining passive income from stocks and shares is relatively easy once set up
09:11
"Monetizing Online Content: Strategies for Success"
- Making $100 a month on YouTube is challenging, typically achieved before reaching 60,000 subscribers.
- Starting a YouTube channel is easy, but creating engaging content is difficult, rated 4 out of 5 stars for difficulty.
- Maintaining a YouTube channel after reaching 1,000 subscribers becomes easier as you've found a successful formula.
- Passive income from YouTube AdSense can reach $12,000 a month, with older videos generating the bulk of revenue.
- Starting a podcast is simpler than a YouTube channel, rated 1 out of 5 stars for difficulty.
- Making $100 a month from a podcast relies on brand deals, with sponsorships requiring around 1,000 downloads per episode.
- Top 20% of podcasts globally average over 1,000 downloads per episode, with growth aided by cross-promotion on YouTube.
- Affiliate marketing through programs like Amazon Associates can earn $1,660 a month, requiring 8,000 website visits for $100.
- Skillshare offers $7 per referral for a free trial, needing 15 sign-ups monthly for $100, rated 3.5 out of 5 stars for difficulty.
- Selling digital products, like ebooks or apps, can generate substantial income, with success hinging on solving a problem and providing value.
18:47
Generating Passive Income Through Online Courses
- Creating an online course is a passive income idea, typically in video format, with a starting difficulty of two out of five stars.
- Making $100 a month from an online course requires quality content that people are willing to pay for.
- Skillshare is a platform where you can host online courses without directly charging, with the potential to earn passive income.
- To make $100 a month on Skillshare, you need around 1,700 minutes of watch time, equivalent to 28 hours, from approximately 28 students.
- Building an audience or having a valuable skill can facilitate earning $100 a month from online courses.
- Maintaining an online course's income level is relatively easy, requiring occasional updates and consistent traffic.
- Membership programs or communities can also generate passive income, with examples like Patreon and Ness Labs showcasing successful models.
- Starting a membership program is straightforward, but providing $100 worth of value monthly can be challenging.
- Once established, maintaining a membership community's support level is easier due to existing member engagement.
- Creating a business that sells goods or services and automating or delegating aspects can lead to passive income, as exemplified by Oliur's Shopify store and a friend's marketing agency.
28:12
Building Passive Income with Software Businesses
- Software as a Service (SAS) is a category where individuals build software businesses for passive income, with examples on indiehackers.com showcasing revenue numbers, startup tips, and success stories.
- Personal experience shared of creating BMAT Ninja and UCAT Ninja, software question banks for medical school applicants, generating $10,000 in the first year and $25,000 in the fifth year, highlighting the challenges of coding, creating compelling content, and marketing the app.
