15 Proven Passive Income Streams That Can Make You $2,000,000/Month

Passive income is one of the best ways to make money without working. Since passive income requires very little effort, you can make money while doing other things or even sleeping!

1) Build an App

Thanks to democratization of software development and server hosting, the cost of building a mobile app keeps going down.

If you know what you’re doing, you can build your first mobile app in less than 24 hours — and it doesn’t have to be perfect! It’s all about having a good idea and following through.

Unless you’re passionate about it, don’t take on this project. Many would-be entrepreneurs fail here because they try to do something for money instead of because they love it.

The same applies to any other passive income opportunity: don’t build an online course about something unless you’ve got something inside of you driving it forward; otherwise your product won’t be authentic or compelling enough for anyone else besides yourself.

2) Build a Blog/Website

Every entrepreneur needs a website. By having a website, you’ll be able to establish your brand, establish credibility, and provide value to your readers. WordPress allows you to create a free website with built-in search engine optimization (SEO) so you can start a blog or website for free.

In order to generate traffic and grow your audience, you should consider buying ads on social media platforms such as Facebook and Instagram. Moreover, promoting posts through Trello or Zapier can help boost engagement rates on these networks and increase organic traffic from users who discover the post by clicking on related links in their newsfeeds.

Additionally, if you do not have the resources to hire full-time employees, you may want to consider hiring freelancers from Upwork or similar platforms. They are usually quite affordable in comparison to hiring full-time employees.

3) Sell eBooks

Selling ebooks online is another passive income stream you can begin today.

Finding a topic or niche that will be in demand is the first step in creating an ebook. This should not be too difficult if you have expertise in a particular field. Research your topic thoroughly so that you are comfortable writing about it and providing readers with valuable information.

Hire someone to create graphics or illustrations for your book if needed (this isn’t required, but will add some professionalism). Upload your finished product to platforms like Amazon KDP or Kindle Direct Publishing (KDP).

4) Sell an Online Course

Selling an online course is a great way to make passive income. You can sell your course on Udemy, Skillshare, and other platforms.

You may also sell it on your own website. Consider creating an online course if you are an expert in a particular field or skill.

Making a video course is not difficult — all you need is an idea and some time in front of the camera. The best thing to do is to speak about something that interests you or something that can assist others who have problems or would like to learn more about what they do at work.

Create a course on coding, for example, if you are proficient in coding. Alternatively, find someone who knows how and ask them if they are interested in creating one with you (for example, a husband and wife team).

6) Sell an Audio Course

Imagine that you are not a good writer or that you do not have time to create a video course. Nothing to worry about! Alternatively, you may be able to generate passive income by selling an audio course.

Recording and producing audio courses is a breeze, and they provide the same benefits as video courses: they allow you to reach more people and provide your subscribers with additional value without requiring much additional effort on your part.

Furthermore, audio courses tend to be more affordable than video courses (since there is less overhead in creating them), so if your goal is to earn passive income from your marketing efforts, then this may be the best option.

7) Create Software as a Service (SaaS)

Software as a Service (SaaS) refers to a software application that is hosted on a web server and can be accessed via the Internet by users. SaaS has the main advantage of not requiring you to install or maintain any software on your computer.

SaaS also has the advantage of allowing you to scale your business easily by adding more customers without increasing your costs, particularly if you are selling information products. Due to this, it is an ideal choice for people who wish to build passive income streams but are unsure whether their products will be in high demand.

In addition, it is one of the most lucrative ways to generate passive income since most SaaS businesses charge monthly fees rather than charging upfront costs.

8) Drop Shipping

In drop shipping, the retailer does not keep goods in stock, instead transferring the customer’s order details to either the manufacturer, another wholesaler, or a third-party logistics provider (3PL).

Among the most popular passive income streams, drop shipping requires very little capital and can be completed on your own schedule. In drop shipping, you act as an intermediary between suppliers and customers.

You receive orders from customers, purchase products from your suppliers at wholesale prices, without adding a markup, and ship them directly to your customers. Due to the fact that you do not hold any inventory yourself, there is no inventory risk.

9) Get Dividends from Stock and Bonds

A dividend is a regular payment made to shareholders from the profits of a company. Dividends can be earned from stocks, bonds, and mutual funds.

By purchasing stock in a company, you become a part owner. If the company performs well — and it will if you choose a good company — you receive dividends as a part owner.

A bond is a loan that a company or government makes to an investor (like you) as collateral for the loan. When a creditor investor lends money to these entities and bears the risk that they will not repay the money they owe (or more), when they do pay back their debts, those creditor investors receive interest payments referred to as “coupons” until maturity when all principal is repaid. After that, any remaining amount over its face value is devoted to repaying debt holders, which includes your own investment as well as the reward for taking on the risk.

10) Make YouTube Videos & Get Paid for It (YouTube ads, sponsorships, etc.)

YouTube is the second largest search engine in the world, which may surprise you. There are advertisements on the videos that people watch when they are looking for answers to their questions. If your channel is popular, you may be able to earn income by placing ads on your videos or even selling sponsorships.

Affiliate marketing can also be used to earn money through Amazon and other affiliate programs. You will not necessarily earn much money from this (because the commissions are so small), but it can still help you grow your wealth over time. Additionally, having some extra cash will allow you to invest more in your business in order to accelerate its growth.

By using a program such as TubeBuddy, you can increase your YouTube channel’s visibility and growth while ensuring all legal matters are taken care of.

11) Peer-to-Peer Lending

In peer-to-peer lending, borrowers and lenders are connected through online platforms. By completing an application on the P2P lending platform, the borrower can apply for a loan, and if approved, they will receive the funds directly from the lender.

Lending Club, which you can access here, is a good example of this. It is one of the largest P2P lenders in the world and has an excellent reputation for safety, transparency, and customer service.

What are the risks involved? Since peer-to-peer lending is not something that you should put all your money into, there are some risks involved.

As long as you spread your investment across multiple platforms, you should be fine. In addition, you should ensure that there is sufficient liquidity available for emergency withdrawals or unexpected expenses during a period when no loans were issued (usually on weekends). It is likely that trouble will follow if these two things do not occur.

12) Author a Book on Kindle Direct Publishing (KDP)

Kindle Direct Publishing (KDP) is an Amazon-owned platform for self-publishing ebooks, print-on-demand books, and audiobooks. This platform also allows you to publish your book as an audiobook. Check out our step-by-step guide here for information on how to publish a book using KDP.

The first step in publishing your book is to create a cover image for it and upload it to KDP via the “Cover Creation” section. A great cover will catch people’s attention and make them want to purchase it over others.

Be sure to have every detail correct before creating a cover because once it has been created there is no option to change anything within the design until you create another one from scratch, at which point all sales will be lost until then (unless someone else has already purchased it).

Try avoiding having any people pictured on your covers as well, as some readers may find this offensive for whatever reason, so just keep things simple by using only text, like logos, instead of images where possible; if necessary, go ahead with both.

13) Start Affiliate Marketing with Your Blog or Website

An affiliate marketer earns commissions from the sale of another party’s product or service.

In affiliate marketing, a variety of methods are available, but the most popular method is blogging and/or publishing content online (often referred to as “digital products”). By using affiliate links within your blog or website, you can send your readers to products or services that align with what they are looking for if you write about things that your readers are interested in.

When I discuss the importance of email marketing for getting traffic and subscribers on my blog “How To Make Money Blogging,” I can link to my favorite email marketing tool. My affiliate link has already connected my account with the company, so if someone clicks on that link and signs up for an account with the company, they may see my face as an option.

There are many other ways to incorporate affiliate links into your digital products, such as ebooks and online courses.

14) Create a Podcast and Monetize Your Listeners’ Attention with Ads & Sponsorships

You can create a podcast and monetize your listeners’ attention through advertising and sponsorships.

In short, a podcast is an audio file that is recorded and uploaded to the internet, so that it can be listened to at any time. The benefit is that you can share your expertise and build an audience as a result.

All you need to get started with this passive income stream is a microphone and some free recording software (Audacity is my favorite).

As soon as you have recorded a few episodes — approximately 30 minutes per episode — you will need to host them online so that people can listen through their browsers or through mobile apps. Libsyn, Soundcloud, Podbean, or Breaker (formerly Zune) are some of the most popular options.

You should also make sure to optimize your website for SEO so it appears higher in search results when people type in keywords related to your topic of expertise or content theme — and then promote that website address on social media channels such as Facebook Groups so more people can discover it!

15) Sell Photos Online on Stock Photography Sites Like Shutterstock, iStockPhoto, or 500px.com

Selling photos online is one of the easiest ways for photographers to earn money from their photography.

Many websites offer high-quality stock photography taken by professional photographers. Typically, they pay between $5 and $20 per image. If you have the right images in your portfolio, selling photos online can be quite lucrative, but it will depend on how well they sell.

What is the potential earnings from selling photos online? All depends on the quality of your images, the demand for them, and the type of license people purchase (royalty-free versus exclusive rights).

For instance, we recently sold an image that was downloaded by over 100 different clients across various industries and earned us close to $1 per download. In light of the fact that we only spent about 15 minutes working on this particular photograph, this is not a bad result.