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Unless you’ve been living under a rock, you’ve certainly heard people talking about passive income opportunities at some point or another. Whether it is around the water cooler, at a family dinner, out at a bar, or on social media – passive income opportunities are awash and everywhere, or so it may seem.
In a case of ‘it’s probably too good to be true’ a lot of these passive income opportunities come with a large grain of salt and are subject to success based on a wide variety of variables. That being said, there are some passive income opportunities that actually hold water when it comes to making money on the side that is reliable and proven as legitimate side hustles.
Making money on the side is one of the most popular new ventures that people have made since the rise of inflation has relegated lower spending habits and more people looking to supplement and increase their overall savings potential.
Today we’ll be exploring a few of the more realistic and proven passive income opportunities that aren’t dreamland fairy tales.
Reliable Passive Income Opportunities For Consideration
Dividend Yield Investments
Dividend yield investments are undoubtedly one of the most popular and lucrative passive income opportunities out there. For those who aren’t aware, a dividend yield stock is an investment holding in a company that pays dividends to investors at certain times of the year.
Some of the largest companies make a habit of offering yield payouts to investors which can add up over time and with literally no effort by the investor. While the amount being paid to investors will depend on the shares owned by that investor, with the right diversification and research conducted beforehand – there are some incredible deals to be found across the market.
When we talk about passive income opportunities, it is hard to go past this one as it is backed by some of the smartest financial minds who utilise these stocks to keep money flowing. One must be wary of course; some companies will offer substantially high dividend yields to their investors to elicit cash-flow but may not have the greatest foundation or potential for longevity as a company – this is why we mentioned research being an important factor.
Anyone who has listened to a podcast, watched a YouTube clip, or follow influencers on social media have been exposed to affiliate marketing in one form of another. Essentially a modern-day spruiking exercise, if you find yourself with a following on a channel or in some form of media – affiliate marketing may be the way to go.
Promoting sounds simple from the outset, but it can be a subtle art to get people to click over and purchase something. More times than not there has to be an element of theatricality or expertise to give consumers an idea that you know what you’re talking about, so some research will likely be needed here.
As far as reasonable passive income opportunities go, this one has a higher bar of entry as the money coming out will depend on the number of clicks/conversions that each post receives. Essentially, the larger the audience, the greater chance of yield over the long term.
Create An App/E-Book
If you are the expert in something or have something meaningful to say, or even have an app that is in the back of your mind – then passive income opportunities await. A lot of people discount the utility of a well-selling e-book or an application that answers an issue in the community. Passive income opportunities like this are hard for many people who want minimal effort in their side hustles, but with a little work in the front-end, the potential yield could be fantastic.