Top 12 Best Passive Income Ideas 2023 ($800 A DAY!)
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[Music] hey guys i’m chris winter and in this video i’m going to show you the top 12 best passive income ideas for this year exactly what they are including the number one passive income idea where you can make 800 per day and if you didn’t know i’m currently giving away five thousand dollars to my subscribers as a thanks for all the support over the last seven years you guys have allowed me to live my dream of traveling the world going on amazing adventures and honestly i can’t thank you enough youtube has changed my life look i know times are tough and a lot of people are struggling with money so if that’s you to enter all you need to do is obviously be a subscriber and comment on this video i’ll send a 100 paypal payment to what i think are the best comments on my videos so if you’re an artist a designer or a creative starting a print-on-demand store is a way to monetize this creativity so basically you work with suppliers to customize products like things like t-shirts uh posters journals and other items and sell them on a per order basis there are so many things you can create with print on demand things from like mugs or things even like leggings for people when they go and do yoga it’s absolutely insane i definitely go and check out printful they’re one of my favorite print on demand companies and you can go and like have a look at all of the different products that you can actually put your design on it’s quite incredible so you only pay for the product after you sell it this saves you from buying in bulk and it really is a low-risk business idea that you can start up and get up and running super quickly another thing you can do is sell digital products now this is another idea of entrepreneurs and creatives with a skill set that they can share it’s about selling downloadable or streamable files and products that media consumers can’t physically touch themselves one of the good things is they offer high profit margins as you only need to make the product once and then you can sell it repeatedly online with no need to hire a huge container to store your products or even like a studio to create even more a digital product can include things like online courses you can sell stock photos designs websites even nfts and digital guides think about what skills you have and how you can monetize this as a product you can also buy and flip websites so if you’ve got any experience creating e-commerce websites you can earn passive income from building them and then selling them to people wanting to buy a pre-built ecommerce store i know a lot of people do this these days with websites like shopify but you can also create stores on amazon and basically have these as a kind of amazon fba store you set it up get it working with drop shipping and then they’re really highly profitable and a lot of people will buy these as well so if you love using instagram and tick tock and i know a lot of people do and you have a community on social media or maybe you’d like to build one then this might be a great idea for you as well so i actually have a couple of friends who have quite large followings on on tiktok and it’s quite incredible just how quickly you can build this kind of community one of my good friends sean pan he creates videos on real estate investing and things like that and you know i think he started with around about like 2 000 followers on tick tock and then basically within the next three or four days he got up to a million followers on tiktok just because one of his videos went viral and it was absolutely insane to watch so there are a lot of really good videos here on youtube about how to kind of try and go viral on tick tock but they’re pushing a lot of people these days and a lot of new followers and a lot of new uh influences so it’s definitely one to take a look at so you can make money through selling merchandise and partnering with different businesses to sell your products to your followers or you could create an app now you don’t have to be an experienced coder order designer to create an app there are so many platforms that provide pretty much anyone with the tools to create their own app so once you’ve decided what sort of app you want to create through thinking about what niche it will cater towards and what problem it will solve you can then monetize it so ideas for monetizing an app include creating subscriptions putting in ads or making users pay to download the app up front another thing you can do is become a blogger and create your own blog now this might take some upfront time and investment but if you love writing and sharing ideas this is definitely a passive income stream for you there are so many content management systems and website platforms that mean it won’t actually take that long for you to set up your blog and the best part is you don’t need any coding skills to get started so definitely take a look at wordpress.com or wordpress.org or also take a look at medium.com where you can pretty much just post your blogs and get people to go and have a look at them so once you set up with your blog you can earn passive income through selling affiliate products like the amazon affiliate program creating sponsored posts selling your own products and maybe even running ads through programs like google adsense how about starting a youtube channel you could do something just like me i think i’m proof that it’s possible to create a passive income stream through youtube so basically with youtube you create good content that people want to see and upload it generally with a consistent schedule from this you can earn money from sponsored videos to ad revenue and the ways that i generally make money through my youtube channel in a passive kind of way is so i’ll post videos which you know people are going to be looking at not just when they come out but also for the next year or two and then i make a lot of money generally through affiliate marketing so the amazon affiliate program or the shopify affiliate program also get paid through google adsense which are just the ads that you see on the videos i also do sponsored and brand deals so companies will come to me and maybe get like a a one minute plug-in in the video but there are a lot of different ways that you can really monetize your youtube channel another thing you can do is start a dropshipping store so a drop shipping store lets you earn income from pretty much wherever you’re living it takes an upfront investment but it can pay off with some dropshippers reportedly making hundreds of thousands of dollars to millions of dollars every year so basically it involves creating an ecommerce store like on shopify where customers buy your products you don’t actually have to handle any of the products you sell yourself rather your supplier which you find on like aliexpress handles everything from manufacturing to packaging and shipping you just pick your product and start selling another thing you can do is invest in reits so an reit or real estate investment trust is a company that owns and manages profitable real estate this involves upfront capital and lots of research but it’s a way for smaller investors to pull together their money for a long-term profitable investment another thing you can do is rent out your house a spare room your car or any unused space so real estate investing is a tried and true form to build long-term wealth with minimal day-to-day effort if you have enough money to buy and then rent out a house or an apartment this will definitely be an easy passive income stream otherwise if you have say a spare room in your house or you’re going away for a month why not rent it out on things like airbnb you can even rent your car out when you’re not using which is pretty crazy that service is called touro and one of the tried and true methods is investing in the stock market although the stock market can be daunting to many and if you don’t have a lot of experience if you can put in some time and effort and understand how it works it’s a brilliant way to build wealth that lasts long term i don’t think that it should be about short-term gain but rather investing to reach your big long term financial goals there are some really fantastic channels here on youtube which i would highly recommend check out graham stefan he’s a really good financial youtuber who talks a lot about investing i also like marco from whiteboard finance he’s also he goes in depth and kind of really explores the way to make a lot of money with the stock market but in a really easy to understand way and another one is my good friend nate o’brien i definitely check out him he has a really good beginner’s guide on how to get invested with the stock market but my number one way which i recommend everyone can make passive income which is highly profitable is to start an affiliate marketing business now if you didn’t know this channel here was actually an affiliate marketing business basically from the very start i used to make videos about six or seven years ago on the best cameras that people can buy i used to make videos on photography tutorials and all that kind of stuff but when i was actually creating those videos what i would do is i’d review the camera and then link to amazon associates in the description box below and then when someone actually clicked on there if they bought a camera within the next 24 hours i’d make a commission on that now the commission itself was only around about four percent and that might not sound like a lot but what actually was happening was people were buying cameras for let’s say a thousand dollars or two thousand dollars and then from that a thousand dollars i was actually getting four percent commission which is actually forty dollars so there were many many days where it wasn’t just one person buying a camera it was actually 20 people buying a camera and then obviously the cameras ranged from you know 400 to 2000 each but there were many days where i was making 600 700 maybe even 800 a day on affiliate marketing alone and again one of the great things with affiliate marketing especially with the amazon affiliate program is that it’s not actually just the camera that i linked to which you actually make the commission on so if a person actually clicks on that link and whatever they buy in the next 24 hours i actually get a commission on that so let’s say they’ve clicked on it looking at this camera but they end up buying a pair of nike shoes and they buy a baby stroller and they buy you know a google home or something like that i actually make a commission on all of those different products so it’s an incredible kind of way to have a real passive income source because all of my old videos if you go back and look on my channel you’ll see that i have 500 camera videos all of those are continually getting views from people looking at review all of those are continually getting affiliate income because people are looking at those reviews and then clicking and buying different things on amazon so this is definitely the number one thing that i would recommend and if you want me to make some more videos about affiliate marketing let me know in the comments below but you could easily make a thousand dollars a day if you’ve got it set up right so a passive income can help you earn more money and provide more freedom and flexibility you’ve got to put in a bit of time and effort up front however to see the long-term benefits but you know i think it’s so worth it it’s a way to keep earning money without continued effort and that money can keep flowing into your bank account for decades if you work it out right it’s totally possible to do so let me know in the comments below which passive income idea you’re interested in and maybe i can make some more videos about that in the future don’t forget to hit the like button and definitely share this video with your friends maybe you could share it with a friend that you want to work together with and create some passive income together
