What are the top ways to generate passive income?

I’m looking to build multiple streams of passive income. What are the top ways to generate passive income, and what investments or businesses should I consider?

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I’m always looking for rental properties. You can definitely consider those if you have some capital.

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Look into the Acorns app.

You can connect it to your debit card and every time you spend something like $3.74 it will round up to $4. And invest that money for you.

It also has other features you can setup to make it like a set and forget savings.

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If you specialize in something are in the top 5% write a book on that skill, and create a course. That will bring you 2 streams of income. If the book does well pay someone to read and record the book for audio distribution.

Use the book and course to create a sales funnel for your services or business.

Offer done for you services, in your specialty, then also offer coaching or consulting to teach others.

Your specialty needs to solve a problem people find valuable. The more challenging the problem and more important the solution the more you can charge for every step of your sales funnel.

This would create 3 streams of residual income, and 2-3 sources of primary income. Check out Chris’s recent video on SAAS solutions for a 4th stream of income if your speciality can be made into a tool.

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