A passive income means making money without having to work hard for it. Financial independence is a dream of many people. Have an infinite amount of free time, but still have the financial means to go on vacation and to be able to afford a good life.
But only very few make this leap into financial independence and passive income. The reason: Patience is often lacking, because no method of generating passive income can ensure that you have € 5000 in the account within a few hours. Just like in a normal job, you won’t get very far here with little passion and hardly any effort.
In this detailed guide I would like to give you everything you need to know about automatic, permanent income and also show you various methods with which you can start immediately.
Passive Income – What is it?
Perhaps you have come across the sentence on Facebook, Twitter or other social networks:
“If Bill Gates drops $ 1,000, he will have made more in the time it takes to pick it up.”
This sentence can be used to describe passive income very well. Bill Gates makes over $ 200 every second. Simply that way. He can lie on the beach and still make $ 200 a second. Even when he sleeps he makes the money.
Of course, he doesn’t get the money just like that. He has built businesses and made investments that now add to that merit. And that is exactly what passive income is.
Basically, you can say that a passive income is fully automatic and permanent income, from which you can live well in the best case.
The benefits of passive income
The advantages of passive income are obvious:
You are not tied to any working hours or job
You have more time for your family, your hobbies and your friends
You don’t have to deal with the boss or annoying customers
You don’t have to wear yourself down in a physically demanding job
The disadvantages of passive income
Where there are advantages, there are usually disadvantages as well. So, of course, with passive income:
A passive income is never 100% certain
Income can vary widely
Earning money quickly doesn’t work here. Time and / or money must be invested in advance
Administrative burden can be high
So you see, of course, there are also disadvantages with passive income. Basically, you can compare your income with self-employment. Again, you won’t be making exactly the same profits every month. One month brings more, the other a little less.
You can also find the work factor here under the disadvantages. Contrary to what is often communicated on the Internet, you cannot build passive income without investing work or money. Unlike in a normal job, you will not get paid immediately, but first have to put some work into your business before you can earn money on the Internet .
Passive income – that’s how it works
There are various ways of generating passive income. All possibilities can be divided into two categories:
Methods with seed capital
Methods without a starting chapter
In the methods with a starting chapter, I will introduce you to various investment options with which you can generate passive income. As the name suggests, for these methods you have to have certain sums that you can and want to invest. The advantage of these methods is that you usually don’t have to put a lot of work into these projects.
You have to put work into the methods without start-up capital, but you do not have to invest any or hardly any money. It is more about building your own project or working with your own resources. You will find out more about this later.
Methods WITH seed capital
Methods WITHOUT start-up capital
Methods WITH seed capital
If you have the opportunity to invest money and do not want to invest a lot of time and work into building a passive income, then these methods are just right for you.
Before I give you a few options that fall into this category, I would like to draw your attention to a study / survey.
This is about a study that shows the possibilities in which citizens in Germany invest their money in order to increase it or to build up passive income with it. That could give you a bit more security with one or the other idea you are planning. True to the motto “What has proven itself has a reason somewhere”.
I have included the study for you in an information graphic. There you can see that with 28% the investment in real estate is the most popular method in Germany to invest the money accordingly.
Passive income through investment
You can find more information about the study at Vorsorge-Knowhow.de .
Real estate investments
Real estate is a classic form of investment that has experienced a strong boom, especially due to the zero interest rates on savings investments. Precisely because the banks are jumping on this bandwagon and are currently offering low interest rates on loans, the rush for “concrete money” is great in order to be able to create a passive income.
Real estate investments have not only been popular since yesterday, which is mainly due to the security of this investment and its stable value. You really do get something for your money. In addition, through rental income, real estate represents a fairly regulated passive income that involves comparatively little risk.
In addition to the standard variant, the purchase of real estate, there are also other forms of real estate investment. This includes:
Real estate stocks
Real estate stocks are basically just ordinary stocks. Here, however, you do not have shares in a company from any industry, but in companies that operate in the real estate industry. Mostly the companies are like real estate agents, construction companies, property managers or housing associations. Just like with normal stocks, you get a dividend here too.
Real estate bonds
Real estate bonds are securities that usually have a fixed rate of interest. You can plan your potential income here very precisely.
Real estate funds
You are not the only investor in real estate funds; many other investors also contribute money to a large pot, which can then be invested in one or more real estate projects by a fund manager. Since professional managers with a lot of experience are at work here, a high return can usually be expected.
I mmobilien – equity crowdfunding
You can imagine crowd investing as not buying a property alone, but doing it with a larger group. This gives private investors the opportunity to invest smaller amounts of money, but still be part of a larger real estate project.
If you would like to deal with the various investment models further, please contact Bergfürst for more information.
Stocks are also one of the classic investment methods, although they are not as predictable as real estate investments, for example. With shares you buy company shares. For example, if a company has 100 shares and you own 10, you own 10% of the company. You are of course entitled to part of the company’s profit. These profits are distributed to investors as dividends.
So if you have bought shares in one or more companies and the company is running successfully, you can earn a nice passive income through the dividends. Of course, you can’t make a living from it if you only own a handful of stocks.
The problem with stocks: If a company does not make a profit, no dividend is paid out. Of course, you won’t make a profit with it.
But there are even bigger risks: the value of a stock can change too. If you bought a share for € 12, it may never be worth that much again. In the worst case, a company can go bankrupt and the share prices collapse completely. You would lose all of your investment.
You can find important basics and everything else related to stocks at aktien-lernen.de and in this video:
to lend money
Online credit platforms have been an alternative to normal forms of investment for a number of years. Here you are basically the bank, providing money to private individuals or smaller companies and thus receiving a return.
As a rule, the relevant platforms are responsible as intermediaries for payment processing and checking. Basically you just give the money, you don’t have to invest any more work here.
You can invest money on most platforms from amounts of 25 to 250 €. The investment limits are different on the platforms. The return also differs greatly. There are differences between the platforms, but also within the individual platforms. The following applies: the higher the probability of default, the higher the possible return. The average return opportunities are around 4 to 5 percent.
Here you can find more information and detailed tests on various platforms.
Customize blog / niche site buy for residual income
You may have heard of the fact that a website is a money-making business . I will present this method to you in more detail later. Building a page that really makes money is of course very time-consuming. If you don’t want to invest a lot of time, you can also buy ready-made websites that are already making money.
Buy a finished niche site and earn money
The price of such a website depends on various factors. On the one hand, of course, on the size of a page, on the other hand, also on the income that the website generates. This investment is usually associated with few risks. But it is important that you check the website carefully beforehand. For example, if the site was recently warned by Google, it may be that the site loses its rankings and you can then expect a significant drop in sales. If you are not yet familiar with online business , you should ask a professional for help.
I would also recommend you not to take over a blog about a “trending product”. At this point, let’s take a look at the “fidget spinner” trend. If you look at the Google Trends for this search term , you can see that this search term only experienced a slight increase in searches from April, but is now on the decline again.
Google trends on fidget spinners
This is very often the case with trend products. But if you buy a website on this topic, you will probably make good sales for another 1 – 2 months, after which the interest and thus your sales will plummet. A website about a trend product is therefore not suitable for permanent, passive income.
Rather, resort to websites that deal with a topic that is relevant for even longer. Everyday objects, such as razors, are particularly suitable for this. Here you can see the trends from the last five years:
Google trends on razors
In the graphic you can also see, for example, that there is always a significant increase in interest at Christmas time. For example , blogs and websites for sale can be found here .
to invest money
If you want to ensure a fully automatic income, you don’t necessarily have to invest your money, you can invest it too. The extremely low interest rates mean that many methods that were quite profitable a few years ago, such as the normal savings account, can be ruled out. When it comes to investing, however, there are still options with which you can generate a (low) passive income despite the low interest rate.
Overnight money account
The advantage of a call money account is that you can freely dispose of the money here. You are not obliged to keep your money in this account for a certain period of time, but can withdraw your money when you need it again.
However, you cannot get rich through the pure interest income. If a call money account offers you 1% interest, that is one of the better offers. The interest rate is also usually not guaranteed. So your interest rate may decrease over time. Nevertheless, a call money account is more profitable than a normal savings book.
Fixed deposit account
In contrast to the overnight money account, you cannot dispose of the money you have invested with a fixed-term deposit account, because here you invest your money for a certain period of time. The advantage here is that you can usually benefit from a higher interest rate. You will also find offers with interest rates of over 1% here. In addition, this interest rate is guaranteed in your specified time.
If you are looking for a safe form of investment and you know that you will not need your money for a certain period of time, the fixed-term deposit account is a good investment option that can also generate a small or larger passive income for you, depending on the amount invested.
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Methods WITHOUT start-up capital
If you do not have a starting chapter available, that does not automatically mean that you cannot generate passive income. You just have to invest another good: your time. As with the methods with a starting chapter, you also have various options here to build up your own passive income, which I would like to introduce to you here.
Sell your own photos or videos
Do you like taking photos or filming and can you convince with good quality? Then this passive income idea might be for you.
You have probably already heard of large image databases such as shutterstock, istockphoto or fotolia. On these websites you can search for suitable images and buy them for use on your website, in a catalog, on a poster, etc. In addition to photos, you will also find videos here, the principle is the same here. If you acquire the license so that you can use the image, the respective image database does not get all the money, the photographer of course also receives his share. In theory, you can passively earn money this way.
However, there is a problem with this method: If nobody buys a picture of you, you don’t earn any money. In the worst case, you may have created and edited a very elaborate image especially for these databases and not earn a cent with it. You have to be aware of that.
The earnings are also very different. If your images are only bought in small resolutions for websites, the remuneration is in the range of cents or a few euros. It looks different if your picture is bought with exclusive rights. That is, when a customer purchases a picture of you and only they can use it. Then you can earn several hundred euros with one sale.
Since videos usually involve more effort, videos are often better paid for. But here, too, the payment depends on the size or the intended use. You can find out more about this topic in this article about selling photos .
Develop your own (info) product
Are you an expert in your field and believe that you can help your target group with a high-quality information product? Then of course you can also sell it online.
Often online courses, video courses or eBooks are created here that deal with a problem and are intended to solve it. Products relating to weight loss and healthy nutrition are particularly popular and successful, but there are also many offers on the subject of dog training.
Develop your own information product
Before you commit to a topic, you should first check whether there is a need at all. Have a look around in suitable forums, check out the comments on websites and hang around in corresponding groups on Facebook. This is where you really get to the bottom of the real problems of your potential target group.
Then there is the question of whether your target group would even spend money on your product. The easiest way to check this is to ask your target group directly. You should also check whether the information you want to provide is already available free of charge on the Internet. If that is the case, very few will spend money on your knowledge. Your “competition” can also be an indication of this. If there are still no products on your topic, you should think about whether you can really earn money with your idea. But if there are too many products, it can be difficult for you as a newcomer to assert yourself in the market.
The best way to sell your own information products is via Digistore24 . The advantage here is that you only offer your products. Digistore is the actual seller. This means you don’t have to worry about bills and the like.
When affiliate marketing it comes Partner links from online shops or various other platforms to use, then to obtain a certain percentage per sale as a commission. Each shop determines the amount of the commission itself. In the Amazon partner program, for example, you receive between 1% and 10% depending on the category.
Here I would like to give you an overview of how you can use affiliate marketing:
Affiliate marketing through email
Affiliate marketing via e-mails is about providing users with relevant information and incorporating affiliate links here. Sounds relatively simple at first, but there are a few things to consider here.
First of all, you need a high quality email list. There is no point in buying email addresses or simply writing to people in the wild (by the way, this is not allowed anyway), because you will probably only meet a fraction of your target group. If people are not interested in your topic, no one will buy your suggested products. So it is very important to create a high-quality e-mail list with contacts from your subject area right from the start.
But how do you do that? On the one hand, you can create a landing page on which you make it clear why users should subscribe to your email list. You have to give the users an incentive here. This is great, for example, with exclusive information or smaller free (digital) products.
If you have your own website, you can use a so-called content upgrade instead of a landing page. You can find out what that is in my detailed article on the content upgrade .
If you have a website that may already be ranked on relevant terms on Google, your email list will be more or less automatically built up by the website visitors. However, if you only have one landing page, it is not that easy. Here you have to take care of the visitors yourself. This can be done, for example, via paid ads on Facebook.
Affiliate marketing via social media platforms
Another way to create a passive income is affiliate marketing via social media platforms. Here you use a Facebook page, for example, to offer your partner products.
To do this, of course, you first have to set up a corresponding social media page on your desired topic and win fans over to it. You can also use paid ads for this, but you can also ask your friends and family to share your page so that more users will be aware of it.
Then it’s back to sharing suitable products and offers. Here, however, it is the case that the users are not directly interested in buying, but you have to awaken this interest first. You can do this with particularly practical products, but a purchase incentive can also be a greatly reduced price.
Affiliate marketing through a website
Earlier you learned that there is an opportunity to generate passive income through a website. Of course, you don’t have to buy a website ready-made, you can also build one yourself.
Basically, a distinction is made here between niche sites and authority sites. A niche site deals with a very limited and highly specialized topic, while on an authority site you can find more broadly defined topics.
To explain the difference to you in more detail, I have brought you the following graphic:
Overview of topics for a niche or authority site
In the middle you will see a main topic. If you want to make a website such an overarching topic, you create an authority site. However, if you choose a topic from this main topic, such as “Hair loss in women”, you create a niche page. By the way, in my free video course, I’ll show you exactly how you can find a profitable niche for your site.
The main difference between these two types of pages is the size of these pages. An authority site can become quite extensive very quickly, as it has to deal with various subtopics for this main topic. There is also the problem that you cannot exactly assess your target group. Both men and women who are suffering from hair loss for different reasons can browse your website. If you advertise a hair restorer for men on your site, only part of your target group will be interested. So you have to make sure on an authority site that your products are implemented in a very targeted manner.
It’s a little different for a niche site. Your topics are limited and your site is less extensive, but you have a very precise target group. You know exactly who will visit your website. This allows you to really build in your affiliate links. As a result, the conversion rates are significantly higher.
Pages can differ not only in their size, but also in the way they approach a topic. People who put keywords on Google around the subject of “hair loss” have a problem for which they are looking for a solution. In the best case, you offer them information and the corresponding solution in the form of one or more products.
You can also deal with the topic of product tests on a niche or authority side and thus build up a passive income . Here you can, for example, introduce remedies for hair loss. However, you should note that it is not allowed to publish a test if you have not tested a product at all.
Build passive income through online advertising
Passive income through online advertising
If you have a website (or want to build a page) you can also use advertising on this page to generate permanent passive income. There are various remuneration models for online advertising.
In this overview you will find the most common income opportunities:
CPC – Cost per Click
With this remuneration model, you are always paid when a user clicks on the advertising material (for example the banner) on your website. This model is also known under the term PPC – Pay per Click.
CPL – cost per lead
Cost per lead means something like “costs per request” in German. So you always get money if your advertisement is not only clicked, but also a request is made to the relevant partner, i.e. the user shows interest in a service or a product. CPL is also known under the term PPL, i.e. Pay per Lead.
CPO – Cost per Order
This payment model is also known under the term “Pay per Order”. You only get money here if the user who comes to the advertised page via your website actually buys a product. A request or just the click does not bring you passive income here.
CPV – Cost per View
CPV or PPV (Pay per View) is very similar to the CPC remuneration model. Here, however, you are not paid when the user clicks on the banner, he also has to stay on the page for a certain amount of time.
CPA – Cost per Action
This system (also known as PPA) is very similar to the cost per lead. Here you get paid when the user performs a specific action on the advertised page. This can be, for example, participating in a competition or subscribing to a newsletter.
You now know what the individual compensation models mean, but how do you find advertising partners for your website?
Of course, you don’t have to write to every single shop and ask if you can advertise them. This advertising is usually regulated by appropriate providers such as Google AdSense or Awin (formerly known as Zanox).
Registering as an advertiser is usually free, but that does not mean that everyone will be accepted. Most platforms check their websites manually, so you may get rejected.
If you have been accepted, you now have the opportunity to search the relevant databases for suitable partners. Of course, these should be relevant to the topic, only then is there a chance that your ads will be clicked on. Here you will also be offered suitable advertising material that you can add to your website.
Basically that was it. If a user clicks on your ad, buys something or subscribes to a newsletter, you will automatically generate your passive income. Here I have once again prepared the exact process as a graphic for you:
Registration in partner networks such as Awin or Google Adsene
Search for relevant shops and brands
Select advertising material and insert it on your website
Users click on your links and banners
Depending on the remuneration model, you will receive your commissions
Build passive income through a blog
I have just introduced you to the opportunity to build a passive income with affiliate marketing via a website. But there is also the possibility of generating a passive source of income via a personal blog. That is exactly what many of the so-called “influencers” are currently doing.
But how does it work exactly?
Building passive income through a blog is similar to generating passive income through a website. The difference here is that a blog is mostly about you personally. That means you are your own topic, for example by showing your passion for fashion or a hobby.
You also earn money here by integrating affiliate links into your website or placing advertisements. Particularly through personal blogs, so-called cooperations also make up a large part of the income. It usually works in such a way that a company provides you with a product (for example a watch, make-up, etc.) and you report about it on your blog. In return, you will receive a fixed amount.
Sell your own eBooks
Build up passive income through your own eBook
If you have a talent for writing, the right idea for a passive income could be selling your own eBooks. It doesn’t matter whether you want to write travel guides, stories or non-fiction books – you can find buyers in every area.
Of course, writing an eBook doesn’t stop there. Of course, you also have to convert this into the appropriate format and then offer it for sale on a platform. Fortunately, this is now very quick and easy with the help of Kindle Direct Publishing . This is a service from Amazon that not only automatically converts your text documents into an eBook, but also offers them for sale directly from Amazon and thus of course also takes over the transmission to the customers. By the way, you can find a report on KDP here .
Since Amazon does a lot of work for you, you will of course not get the full retail price of your eBook. Depending on the price of the eBook and its size, you will get 35% – 70% of your sales price. You can read more about this right here .
Develop your own theme
If you have your own website with a content management system like WordPress, you may have used a ready-made theme. This is also an opportunity to create a passive income, because once created, you don’t have much work to do with your theme and can sell it as often as you want.
Develop your own theme
Of course, you need programming skills for this and you also need to be able to develop well-designed web design. The first thing potential customers see is the design and if they don’t speak to them, nobody will buy your theme. You should also make sure that your theme is easy to use. If in doubt, even beginners will buy your theme and you can only satisfy them if they can build their website with it without any problems. A small guide can also be created here.
You can sell your own themes on various platforms on the web. On the one hand, the content management systems often offer their own databases with themes.
For example WordPress:
WordPress Theme Directory
Probably the best-known platform in the field of themes is Themeforest . Due to the high level of awareness, there are extremely many possible customers here. Themeforest is known, however, for the fact that it is a platform with quite high demands. In addition to a high quality design, customer support is also expected. You can read more about this here .
Generate passive income with a plugin
Develop your own plugin
If you have a website and use a content management system like WordPress, you will definitely use one or the other plugin. Many plugins are free, but especially with more extensive solutions you have to pay for a plugin.
If you have an idea that is not yet available as a plugin (or for which there is no good plugin yet) you have the chance to build up a passive income. The prerequisite here is of course that you have the technical means to develop such a plugin.
Just like for themes, there are also platforms for plugins on which you can present and sell your product. One of the best known is codecanyon.net , for example .
My extra tip:
Building websites is child’s play with Thrive Architect
Whether you want to start with a niche site or an authority site – you absolutely need a website.
But there is a big problem with this: Creating a website yourself is not that easy and letting a professional do it costs a lot of money.
At this point I would like to recommend Thrive Architect to you. This is a visual editor for WordPress that you can use to easily create your own website using drag and drop.
In the video, I used a simple example to explain how you can quickly and easily create your own website:
More about Thrive Architect?
Passive income – concrete examples
I’ve already given you a lot of ideas about passive income on your way. But you are probably wondering how high the passive income can be. For this I have brought you some sample calculations from the area without start-up capital.
Niche site with affiliate links
With a niche site with a few good rankings, 20,000 – 30,000 visitors per month are not uncommon. Of course, this number always depends on the choice of the right niche. If you want to be sure that you are choosing the right niche for your website, I recommend you take a look at my free video course . Here I will show you step by step how you can build a passive income with a website.
In order to concretize the example, I have made a page about green smoothies. The monthly visitors amount to “only” 15,000 visitors. As befits a niche site, you can find recipes, information and product comparisons on the subject of green smoothies, which are of course supported by affiliate links. There are both expensive high-performance mixers for up to 600 € but also books and accessories from 10 €. The price categories are really very different. Of course, very few will buy the professional mixer for 600 €, so I would expect an average value of around 50 – 60 € per order for this project. All of these products are in the range of 7% commission on Amazon. But how many people really buy a product?
In order to be able to predict a fairly precise value here, one theoretically has to know how high the conversion rate is. That is, how many of the 15,000 visitors ultimately buy a product. We are assuming a conversion rate of 3% here. That means 450 of the 15,000 visitors per month would actually make purchases via the affiliate links. This is quite a realistic value, but it will probably be significantly higher, especially on pages that deal with a mixer test, for example.
We still stick to our 3% and our sales value of around € 50 per order. With a commission of 7%, the advertiser will effectively lose € 3.50. Doesn’t sound like a lot at first. But if you now calculate that there is not only one purchase, but also, as with our conversion rate of 3% 450 sales, the passive income is already impressive:
450 x € 3.50 = € 1575 monthly income
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Authority site with online advertising
In this example we are assuming an authority site on which various topic-related advertisements can be found that are billed using the cost per click method.
Here, too, it depends first of all on the visitors. Authority sites are usually much more extensive than a niche site. This allows these pages to rank for more keywords and thus attract more visitors. Good authority sites can expect over 50,000 visitors a month. In our example we turn the whole thing down a bit and expect 30,000 visitors.
In our example, we assume that the effort has been made and that the advertising has been tailored to the most successful pages in a topic-relevant manner. Therefore the click rates can be relatively high. This means that we are assuming a click rate of 20%. 20%, i.e. 6000 visitors, click on an advertisement on this page.
But how much does a click bring in? Of course, a click is far from being rewarded as well as a purchase. The online shop or the service provider has not made any sales with just one click. The remuneration here depends heavily on the industry. Insurance and finance tend to have the most money. We are more likely to assume an industry in which advertising is not remunerated so well and we expect 15 cents per click.
6000 x 0.15 € = 900 € monthly income
In this example, you would earn € 900 “just like that” with just a few clicks. This is of course considerably less than with affiliate marketing, because it is just one click. Of course, you can also use different forms of advertising in combination and support the CPC ads with CPO ads.
Generate passive income with your own theme
Now we come to an example calculation for income with its own theme. If your theme was added to Themeforest, you have already won a small jackpot, because the traffic that is only generated via the search engines is already in the millions. This means that you can of course present yourself to a very large crowd.
The sales figures depend very much on your design. While the bestsellers have sold over 3000 times, there are also themes that have not yet reached 20 sales. We assume here about 50 sales. These can of course increase month by month.
With Themeforest, a distinction is made between whether a product is listed exclusively there or whether it is also sold on other platforms. In that case you get 33% of the sales price. However, if you only list your theme on Themeforest, you can count on 50-70% per sale. The exact value again depends on how often your theme has already been sold and how much revenue came out of it. The higher the total sales, the higher your share will be. To get started, we’re counting on 50% at a retail price of $ 49.
(50 x $ 49) / 2 = $ 1,225 monthly income
So you see, money can also be made that way. What you should be aware of, however, is that there may still be additional work in connection with customer support.
Note: Of course, you don’t have to choose one method of building your passive income. In theory, you can also use all three techniques that I have presented to you in the examples here, or you can use other methods. In the case of niche sites, it can be a good idea to create your own eBook. The mix of the different methods will help you to build a passive income that you can really live off of:
1575 € + 900 € + 1225 $ (approx. 1030 €) = 3505 € monthly income
Passive Income – Traffic Building
There are methods that you cannot use to generate passive income without traffic. This includes, for example, the niche and authority page, but an eBook or theme should also be advertised so that sales increase.
But how do you do that? It mostly depends on the method you have chosen. You can advertise an eBook or theme, for example, via paid advertisements or via your own website.
For niche and authority sites, you should approach it a little differently, using organic search. This means the results in the search engines. Of course, you don’t just come to number one for a keyword of your choice. To do this, you have to make various optimizations and also create high-quality content. You can find more information about SEO in my SEO guide here on the Online Marketing Site
Passive income – conclusion
You too can generate passive income
There are various methods of building a passive income. Without investing money or work, you will not achieve your goal of being able to live financially independently in the long term. You should be aware of this.
How exactly you start now depends mainly on yourself. It is important that you start. If you do not want to invest money and are not afraid to deal with the online business, a niche site can be the right entry for you.
If you are looking for a way to invest your money in a way that you generate a passive income , then an investment in stocks or real estate may be the right path for you.
No matter how you build up your passive income, you shouldn’t give up a permanent job like that. Even if you manage to generate a good income for a month, that doesn’t mean that you will be able to do it in the next month. Only when you have been able to live well on your passive income for several months should you start thinking about your job.