Passive Income Ideas - How to Recession-Proof Your Livelihood With a Backup Source of Income
By Keith McCormick
Are you looking for some passive income ideas? Before you decide on a passive income opportunity, you should make sure that you understand what "passive income" really is. Passive income is any type of income that does not require any manual effort in order to generate revenue other than the initial set up, initial production, or occasional efforts to maintain or enhance it.
Investing in stocks is one such example of a passive income idea. You purchase a share of stock once and let the market handle the rest. Occasionally you will need to check up on the stock or you may need to buy more shares or sell some shares, but it is passive, for the most part.
But not all passive income ideas require you to invest money, as investing in stocks does. It is possible to generate passive income from some form of labor. You work once and can theoretically be paid forever for it. One such example of this is collecting royalties for intellectual property such as a manuscript, a song, or a painting. These do not require the investment of any money but only of some time up front which will theoretically pay off for some time infinitely in the future. Of course you would need to put forth the effort to market your work, but if done effectively, you can make an infinite return on investment.
In the modern age, the Internet has become the medium through which millions of people across the world are already earning passive income. Many of them are earning this income on a part-time basis while maintaining their day jobs, while others are making enough money passively on the Internet that they do not need to work a day job anymore. They are able to live entirely off of the passive income from the fruits of their labor, off of the Internet.
The Internet has leveled the playing field insofar as the barriers to getting into an Internet business is concerned. Sure there are behemoths like Amazon, eBay, Yahoo, and Google, who have multi-million dollar budgets with which to invest in advertising and technology. But the reality today in the 21st century is that anyone with nothing more than a computer with an Internet connection can get started with setting up a system to generate passive income today, and can be earning paychecks within a couple of weeks. No prior training, no education, and no money needed.
What are some passive income ideas for making money on the Internet?
• Blogs is one example. Anyone can set up a blog for free on the Internet. Once you set up and maintain your blog you can set up free banner advertising on your blog through systems such as Google AdSense. As long as you are writing about a relevant topic and actively maintaining it, it will only be a matter of time before your blog is indexed by Google and people will start visiting it. Anytime someone clicks on any of the free advertisements on your blog, you will earn some revenue.
• Affiliate marketing is another example. Anyone can join an affiliate program from any vendor absolutely free and start promoting that product. If anyone clicks on your affiliate link to buy the product, you earn a commission. Commission Junction and Clickbank are two examples of affiliate marketing networks.
There is no excuse for anyone today to not be able to earn passive income on the Internet, whether it is just a few dollars per month or several thousand dollars per month. All it takes is generating a few passive income ideas and experimenting with all of them until you find one that works.
It's time to recession-proof your income! Whether you've been recently laid off or you are looking to generate an alternate source of income in the midst of this economic downturn, Internet marketing continues to be a thriving, lucrative source of income for hundreds of thousands of individuals and families world-wide.
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