How to Earn Passive Income in 2017
If you’re a freelancer or an entrepreneur, you know how precious your time is. You may already work long hours, take few holidays, and spend your weekends checking email. Every hour is at a premium — so why not earn some money even when you’re not working?
For the risk-averse, there is always real estate and the equity portfolio. But if you want to put a little more adventure and industry into your personal finance, here are a few passive income ideas to help boost your earnings in 2017.
Publish an eBook
Chances are you already have valuable knowledge and skills in your field — why not share it with the world? Fire up the word processor or dust off those old blog posts and put together an ebook on a niche topic you know a lot about. Thanks to tools like Calibre, doing layout and publication yourself is faster and easier than ever.
Sell a Course
Is your field of expertise too broad for a simple ebook? Why not design and sell an entire course online? With tools like Academy of Mine, you can create, market, and sell your own series of online courses and put your knowledge to work. Like many passive income options, the up-front work may be considerable, but could earn big long-term profits. Needless to say, the cross-marketing potential with that ebook is rife with opportunity.
Design and Sell Your Own Products
If you’re an independent creative type, the opportunities for passive income abound. Thousands of artist and graphic designers make side money by selling their work on sites like Redbubble, Society6, CafePress, Zazzle, and more. You can put your ideas on tee shirts, mugs, stickers, cases, stationery, and other items. Your unique take on a trending slogan or pop culture character or logo could bring in money years into the future.
Take Stock (Photography)
Even if you’re just an amateur photographer with a good eye for composition, you can submit your work to stock photography sites such as Shutterstock and earn money on them for as long as they remain on the site. With some quality photography and shrewd tagging, this can be an easy source of ongoing cash.
Create an Online Store
Better yet, if you have products or services looking for a market, why not sell them yourself? With the vast array of free tools available, it’s easier than ever to set up your own ecommerce website and start selling. Fold in some affiliate programs, ads, and a social media platform to help make your products known, and your products may soon be selling themselves.
Get In on the Sharing Economy
One of the best ways to earn passive income is to make use of what you already have, or to get paid for things you’re already doing anyway. If circumstances allow, rent out some space on AirBNB or HomeAway, or make money as a driver for Uber or Lyft while you’re running errands.
Passive income doesn’t happen without some work up front — but the long-term rewards can be worth it. Let 2017 be the year you do a little work now that keeps paying off well into the future.