Even the most passive systems still always involved some effort. But, for a few years, thanks to the internet, there have been several types of businesses that don’t require trading your time for money. Do these types of businesses still work? Well, we know they can make money, but can they make you passive income? Let’s take a look at some ideas that may or may not still work to make you passive money.
Investing
One of the real and true ways to make money in a passive way is investing. You don’t need to start a business or have any kind of specialized knowledge to make money as an investor. There are even much easier ways to invest like apps that can do the investing for you. Often called robo brokers, they do things like take your spare change from purchases and put it into a fund without you doing anything. When they work, it is truly passive investing. The problem with investing is that you can also lose your money if you pick the wrong stocks or funds.
Dropshipping
Dropshipping was in its heyday back in the early 2000’s as people found out that they could run an ecommerce site without needing to actually have any inventory. The way it works is that you have a website with some software that automatically places an order with a factory or warehouse as soon as somebody makes a purchase. Then, it ships the item to the person who ordered it. Sounds very passive. After all, you aren’t putting in the order yourself and you never actually need to touch the product. This works in sort of the same ways that dropshipping does in the sense that you never need to actually handle the product to make money. The difference is that you will be carrying some stock to make it work.
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