5 Best Passive Income Ideas to Make $5000+ Per Month

Some of them are completely passive, but most of them are not. They are going to require you to do some work in order to build them up, but once you do, they will continually make you money for years into the future.

In the last 30 days, I have made around $5000+ from what I would consider to be mostly passive income streams.

I say that because actually, I did not work that much in the last 30 days, I didn’t have much time to be constantly working on this side hustles.

But still I was able to make what for many people happen to be a full-time salary in just the last 30 days.

Now the only reason I have been able to do that, is simply because I have been building up these passive income streams over the past 3 years.

So now you may be asking, how you were able to build that kind of passive income in just 3 years?

Well, to start, I started my online Journey back in 2021 and that's when I started building up my online business.

But just to be honest here, these passive income streams did take some work in the beginning for me to build them up, so they are not entirely passive straight from the beginning.

Some of them are, but most of them are not. They are going to require you to do some work in order to build them up.

But once you build them to a certain point, and you apply the right strategies that I’m going to be sharing with you today, they can certainly be passive, and in this article, I’m going to be talking about 5 of the best passive income streams that can potentially make you a lot of money right now.

And I am going to show you exactly how to get started with them. These are some of the best passive income streams because they’re easy to start.

Most of them don’t even require a lot of capital right away from start, and they have the potential of scaling them up to a significant amounts of money down the line.

Now, just a quick disclaimer:

I can’t guarantee you that you will be making millions of dollars overnight by just reading this article. But what I’ll do is I’m going to show you exactly what I personally do as well as a lot of other people also do.

First Passive Income Stream

1. YouTube: Most people don’t realize this yet, but YouTube is one of the biggest opportunities available to people right now. And the fact that we can just upload videos to YouTube, and they have the potential to going viral, and not just that, but we can actually make money natively from ads that YouTube puts on the platform.

That’s absolutely fantastic, It’s never before in history that we have lived in a time where we can take advantage of a website just like this.

And it’s getting even better and better, that’s because the content that we upload to YouTube, it can also continue to get millions of views for many years into the future.

And on top of that, we can also use it to promote any of the other passive income streams that we are going to be talking about later on.

We can actually use it to promote affiliate products, selling our own products, as well as other people’s products and so many other different things all from one single YouTube channel.

The videos that we upload, they live there forever and they can continually get views for years to come.

And just to emphasize this point, over 50 million new people have signed up to YouTube and other digital platforms since 2019.

Now just think about this logically, do you really think that all of those people are actually creating content? Noo, of course not, most of those people are just consumers.

They go to YouTube to watch the content for entertainment and to learn new things only. Just a tiny fraction of 0.001% of those people are actually going to create content, and only a few of those people know how to create good content that’s going to effectively get a lot of views.

You can learn those techniques, and you’re heading in the right direction right now as you are reading an article like this, that’s because you’re learning the right strategies, opposed to just going out there and guessing what would hopefully work out when it comes to doing this.

What this essentially means for you and me, is that there still exists such a big opportunity on YouTube.

And don’t think that you had to get in on YouTube years ago, I’m still starting new YouTube channels all the time and succeeding with all of them.

So now you might have one question as if YouTube isn’t passive?

Don’t you have to keep uploading new videos?

Of course if you really want to start getting new views and planting new seeds, but those old seeds that you’ve planted, they can continue to get views forever, as long as YouTube exists.

So it can be completely passive once you’ve built up a backlog of Evergreen content, and with so many tools available nowadays as well that just make everything so easy for you to succeed on YouTube.

For example,

You have tools like:

1. Tube Magic: to help you with writing your scripts,

2. 11 labs: to help you with voiceover,

3. Power director: an easy video editing software.

4. You can simply just hire freelancers on platforms like Fiver.com for a very low price to do all the work for you. So in my opinion, not making at least some kind of presence on YouTube right now this year is a big mistake you can make.

If it’s something that you’re at least thinking of doing, without wasting any more time, jump in there and do it as soon as possible.

Start planting those seeds, and trust me, you’ll thank me a year from now. And the good thing about YouTube Automation is that, you don’t have to show your face on camera at all, even though that can work incredibly good.

For example, if you take a look at channels like Brainy dose as you can see

Which gets millions of views each month and their content is mostly just stock footage with a voice over on top of it. And you can get these stock footages from websites like pexels.com, unsplash.com, and so on… Then you can edit the videos together using completely free video editors.

For example, iMovie if you’re on Mac, the power director app if you’re using a Phone,

Or if you’re like me and you use Windows, you can use Hit film Express, Open shot or Shortcut

And also, there are so many different niches or subcategories of content you can tap into out there.

When it comes to doing this, if you’re really interested in something, there will always be a YouTube Community around that that you could jump into and potentially make a full-time passive income by just generating videos.

There is absolutely no limit on how much money YouTube channels can make, and if you’re interested in some of the best niches when it comes to making money on YouTube, you can jut take a look at this full checklist that I will give you 10 of what in my opinion are the best niches to start with right now.

Now before we go into the next passive income source, I’d invite you to download my Free YouTube Automation blueprint that goes step-by-step on how to succeed on YouTube without ever having to step into the front of a camera.

Second Passive Income Stream

2. Affiliate marketing: Now this is the kind of popular one, and I believe you’ve probably heard of this before but even if you haven’t, no problem, because we are going to be talking about it right now.

It’s simply a technique where you promote somebody else’s product and every sale that you refer, then you get a commission from that sale.

I personally do this one within my own business, I promote some softwares and everything, and I make hundreds of dollars per month recurring because I’m promoting softwares that people pay for and they keep paying for over time.

This include softwares like Tube Magic and Mixo,

So now, how to actually promote these programs and other products in order to make money online doing affiliate marketing?

Well, there are two types of traffic sources to think of when it comes to affiliate marketing or selling anything online, and those are free traffic where you don’t have to pay to promote your offers, and then also paid traffic where you do have to pay to promote your offers.

Now if you have more time than money, then you definitely want to jump in and start with the free traffic method, but on the other hand, if you have more money than time, it makes sense then to start experimenting with the paid traffic method.

But in my opinion, free traffic is the best way of promoting your offers, and the number one free traffic source that I always recommend using is through running YouTube channels, that's because like I said earlier, those videos that you upload into YouTube, they’re going to be there forever, and they will continue to get views unlike other social media out there.

But also if you want a complimentary source of traffic, you can look into maybe starting a Tiktok or an Instagram account as well. Then ultimately you can even Think about adding your very own website or blog, that’s a very good way too.

And when it comes to paid traffic, these can include YouTube ads, Facebook ads, Instagram ads, Etc..

Another way of getting free traffic by the way is if you produce any kind of short form content, it definitely makes sense to distribute that on Tik Tok, YouTube shorts, and Instagram reels. And then put the link of the affiliate product that you’re promoting in the link in bio for each one of these platforms.

And the math behind Affiliate marketing is promising that if you get just 20 sales per month at a $500 commission, then you will be making $10,000 per month, that is way more than a full-time income for most people.

So as you can see, the potential for affiliate marketing is incredibly high.

Now If you want to learn affiliate marketing step-by-step, you can Grab this complete training guide here.

Third passive income Stream

3. No code software: Now this is a little bit outside the box, as you probably know, software has been making so many people tremendously rich since then.

But in the past, you had to be some kind of tech Wizard, or you had to spend hundreds of thousands of dollars employing people who did know how to design a software, in order to make something that you hoped was going to be successful. But nowadays, a lot of new tools have been popping up.

For example, bubble.io, which allows people to create their very own software without having any Super Advanced technical knowledge, and this has been commonly called No code software.

However, the main key when it comes to having a successful software, is to actually aim to solve a specific problem that a certain group of people are encountering, for example, this software that I personally use within my businesses called Tube Magic,

Like I mentioned earlier, which allows me to analyze the statistics of different YouTube channels. You can also use Kajabi for hosting your courses.

And this will allow you to Simply upload the videos to your course, and they will handle the part of making it look good and everything, and surprisingly you can also create very similar products, by using no code software.

Overall, there is a little bit of a learning curve for this, but not nearly as much as learning to code them from scratch.

You can look into this further if you want, by just searching for no code software on YouTube, you’ll find tons of tutorials teaching exactly how to do this and most of the time people will be showing case studies of being able to make tens of millions of dollars with software.

The very stunning thing about software also, is the fact that it is often times a recurring Revenue, that means that somebody will keep paying for that software month after month, that’s the very good thing about this. And for example, if you get let’s just say 2,000 users and each of them paying you around $30 per month, you will be making around $60,000 each month in monthly recurring revenue.

And if you prefer to sell your Software company, you can sell it for as much high as 1 to 3 million dollar.

Fourth Passive Income Stream

4. High yield savings account: Now this one is for like when you actually start making money with some of these methods that we just talked about, you’re now going to need a place to put in your money, and instead of using most bank accounts that are out there, which are going to earn you little to nothing whatsoever in the form of interest.

You can instead look into something called a high yield savings account, this is true passive income because you literally just put your money in there, and you are going to get a deposit each month depending on how much money you put in.

This is why I like to store my extra cash because it’s not just sitting there, it’s actually doing a little bit of at least something for me.

Here are some of the bank accounts that are giving the highest interest rates right now

They do change over time so just make sure to do your own research to stay up to date, and also make sure that the bank account you choose is FDIC insured, to ensure that your money is going to be all safe.

I personally do recommend choosing a bigger bank if you can too so that way you don’t have to deal with the small ones that can potentially go under or something, and once you start making a lot of money with these passive income streams, then now it’s time to jump into the passive income stream #5.

Fifth Passive Income Stream

5. Investing: Now this is the time to invest some of your money, and the main reason for this is so that you don’t lose all your money into inflation, because with inflation, the value of your money can decrease over time.

Now investing may seem to be a very complicated subject, however, the way that I like to go about doing it, is actually very simple, I just invest most of my money in index funds or ETFs that cover the majority of sectors and markets within the stock market, these include SCHD, VOO, VXUS and a lot of different other ones.

And just for a disclaimer:

None of this should be considered as an investing advice, I’m simply just sharing the possibilities of how you can do it. But the reason why you could invest in these, is because these funds comprise hundreds if not thousands of different of the top companies in them so you will not have to invest in each of those companies individually.

And therefore, the risk here is a lot lower as well and knowing that this is a long-term technique that can make you extra money, on top of that, you can also take part in what’s called dividend investing.

Where you can invest in companies that pay higher dividends and there’re tons of videos on YouTube breaking down the actual strategies behind making an extra hundreds or $1,000s per month just from dividend income over time.

And this also is a real passive income.

But before you start investing whether in high yield savings accounts or anything else, just make sure that you first and foremost focus on or a business or a skill that’s going to generate you passive income in the first place.

And like I said earlier, in my opinion, the absolute best way of doing this, is through running a YouTube channel.

And if you want to discover step-by-step how to start a faceless YouTube channel and potentially make money from it, then go ahead and Download my complete and Free step-by-step YouTube Automation Blueprint right here —It will guide you through exactly on how to do just that.

Thanks for reading. -)

>>Affiliate Disclaimer: This post may contain different links. That means that I may earn a small commission if you click on a link and make a purchase, at no additional cost to you. Thank you for your support<<