Passive income generation is a hot topic recently, as making money online has become a source of more and more people’s full-time jobs.
But while making money passively is achievable, it is not quick or easy in most cases.
In this video, I talk through 6 popular passive income approaches and discuss the ideal foundation for each.
In the more hands-off approaches that can be implemented fairly quickly and without much work, a larger starting investment is typically required to start earning tangible amounts of income.
In the immensely lucrative passive income approaches that can produce huge returns without much investment, a large following or a lot of traffic through a website/YouTube channel is typically required.
Otherwise, paid advertising (buying traffic) can be introduced to direct traffic to your income sources, but the net profitability of your income sources will depend entirely on the success of the advertising campaigns.
My goal with this video is to share my thoughts on some of the popular passive income approaches, and what is required to succeed with each one.