Considering the current economic circumstances of the world, it makes sense to have multiple sources of income. It can help you make ends meet & even grow your wealth and secure your financial future. When talking about sources of income, we should definitely mention passive income.
This type of income stream requires almost little to no effort on your part, which makes it so popular among the investors’ community.
But from where can one get the idea for a successful passive income project with a lucrative ROI?
After all, who wouldn’t love to have a new income stream? Especially one that requires little to no effort and maintenance while generating money on autopilot?
So, if the idea of passive income interests you, then continue reading out the guide. We will explore 40+ passive income ideas to generate wealth on autopilot!
What do we mean by ‘passive income’?
Passive income vs Active Income
Just to give more context, there are two types of Income sources: Active income & Passive income. In Active income, you have to actively participate in the business or the job to generate income. Most of the work can be classified as active income (for example: working at a law firm).
On the other hand, passive income requires little to no participation. It generates income even if you are asleep or on vacation!
Collecting rent from one of your rental properties is a prime example of passive income.
Similarly, becoming a silent partner/investor in a local business is also an example of passive income. In fact, getting cash dividends from the stocks you own is also passive income since it requires little participation.
Passive income can be a great way to get some extra money. But its real benefit lies in its ability to grow your wealth over time.
If you look around, you will see that businessmen actively work on generating new streams of passive income. This allows them to be financially independent & free to do the things they want.
In active income, your income depends entirely on how much work you can put up. Passive income, on the other hand, is more about choosing the right idea and executing it.
Types of passive income
According to the IRS (Internal Revenue Service), passive income comes from two sources:
- Rental Activities (Renting out a house, equipment, cat, etc.)
- Trade/Business Activities with little to no participation.
Common misconceptions about passive income
Many people confuse passive income with other types of income sources. So before we move ahead and discuss passive income ideas, let’s clear some common misconceptions first:
- Working at a job is not passive income since you have to work to earn the wage actively. Well, unless you get paid for not doing anything at your job, you can’t classify it as such!
- Assets that do not produce any income cannot be regarded as passive income sources. For example, investing in cryptocurrencies or stocks which do not pay any dividend.
- Getting a 2nd job is not passive income because it will still involve showing up and actually working!
- You do not need hundreds of thousands of dollars to work on an idea for passive income.
What kind of investment do you need to generate passive income?
That’s a very common question! The truth is, you can start generating a passive income with zero to very little investment. I know this is totally opposite to what you may have heard from your friends, or on many websites.
In the stock market, per se, you can buy as little as one share of a dividend-paying stock… Quite similarly, you can put your bike for rent without any additional investment.
Another method that requires no investment is writing a book & then receiving the royalties!
Build or buy the asset, and get paid for it!
Comes then some passive income sources that require sizable investments. The first example is investing in real estate property and then putting it on rent.
As you can see, you do not need a fixed amount of investment to start working on an idea for passive income.
40 ideas to generate passive income
We have listed 40+ unique and working ideas to generate passive income while you are asleep. Here’s the list:
ETFs & Dividend Paying Stocks
An exchange-traded fund (ETF) is usually a collection of multiple stocks joined together to make a single tradable product. On the other hand, a stock just represents a single public company such as Google or Facebook.
To make passive income from the stock market, you should choose stocks and ETFs which pay dividends. You can think of dividends as payments paid by the company out of its profits to its shareholders.
When trying to make a passive income stream from the stock market, always make sure that the stocks you have chosen pay dividends. You will have to do proper research to ensure they do.
Forbes, by the way, has a specific page for the best stocks that pay dividends.
How much you can earn from dividend-paying stocks will depend on the dividend yield of the stock. For example, several stocks pay 4% per annum and are also a part of the S&P 500 index.
But if you look at the foreign stock markets (outside of the USA), the rate of dividend payments can be even higher. However, it also exposes you to the extra risk of investing in foreign markets. So, you will have to find a balance between the rate of return and risk!
Investing in real estate is a textbook example of a passive income source. If you think about it, real estate will always have high demand. The population of our planet is rising, which means real estate assets will be in high demand.
Here’s how you can get started with real estate:
- Buy a piece of land and then develop a building. Or you can buy an already built house, shop, or any other building.
- Put the building on rent.
- Earn money!
Yes, it is as easy as that! However, the only downside to real estate investing is that you will need a sizable investment to get started. But once you start earning money with this method, it will be steady & even increase every year.
It is common for property rents to increase over the years. Furthermore, the value of your investment will also increase as property prices increase over time!
Hiring a rental management company to do everything for you may make the whole process easier.
Airbnb is another lucrative option, except it will require some maintenance on your part, though!
Invest in a Business
The best part about this passive income idea is that you do not have to go around looking! You can get started by looking at local businesses. Many business owners would love to make you a silent partner in exchange for your investments.
When investing in a business, always stress about becoming a silent partner. A silent partner is simply a person who earns the right of ownership through monetary investment. However, they play no part in the management and day-to-day operations of the business.
This will allow you to let your money do the work while you collect the profits.
These days it has become really easy to take amazing pictures from your mobile phone. And if you have a professional camera, then you are already one step closer to making money through stock photography!
The only requirement for this idea to work is that you must be able to take great pictures. These pictures can be about anything such as people, nature, animals, birds, cars, and so on.
Here’s how you can make money from stock photography:
There’s a huge demand for stock photos in both digital and print media. In fact, tons of bloggers, companies, and even individuals use such photos on a regular basis.
Vending Machines Business
Do you see those vending machines at the local stores and the shopping malls? These are owned by people who earn passive income from these machines!
To get started in this business, you will need to buy a vending machine first. Depending on where you live, the cost of vending machines may vary. In the USA, old machine prices start from $1000 while a new one can cost around $3000 or more.
Once you have bought a vending machine, you just need to install it at a high-traffic location. For the products that would be added to the vending machine, that’s up to you! Most people go for soft drinks and snacks – Basically everyday use items that can be sold on a daily basis.
You can buy these items in bulk at a discounted rate and then sell them for margin. As for the maintenance, you will only need to visit weekly to stock up the machines & to collect money!
Cloud mining is another idea for passive income that is easy & has a lot of earning potential. In this method, one can rent out the computing power from third-party cloud providers. This computing power is then used to mine different cryptocurrencies.
This is more of a set-and-forget type of method as cloud mining is usually done on auto-pilot. On top of that, you can also reinvest the crypto profits to get more resources from the cloud mining service.
Once again, the package and the cloud mining service you have chosen will depend on your earning potential. It is advisable to reinvest your profits in the start to increase your computing power. This will allow you to mine cryptocurrencies at a much faster rate & thus earn more money!
Do you have a passion for writing? Are you an expert on a particular topic or skill? Then you can self-publish a book on Amazon Kindle and start earning royalties!
The world has changed, and so has the book publishing industry. Back in the day, you had to rely on a big publishing house to get your book published. And if you were not well-known, then no one would agree to even publish your book!
But today, you can write and publish a book for free on platforms such as the Amazon KDP. To earn money through this method, follow these steps:
- Create an eBook on your computer, laptop, or Mac.
- Sign-up for the Amazon KDP Platform.
- Self-publish your book for free on the Amazon Kindle platform.
- Set a reasonable price for the book.
- Promote your book through social media.
- Whenever someone downloads your book, you will get paid!
Rent Your Car
Do you own a car that lies unmoved in your garage? Maybe you do not drive much, and your car is free most of the time. Then you can rent out your car in return for passive income!
If you already have a car, then this idea for passive income will not require any upfront costs or investment. To start, you can join a website such as Turo, through which you can easily make around $10,000/year.
Another option is to find a driver who is willing to work for you & then start a taxi service! When it comes to this option, you can start with one car or a fleet of cars! However, the exact process of starting a taxi service will differ from country to country. You may need to get some permission, clearing certificates, and similar documents.
If you have a car and a good driving record, then why not turn your car into a source of passive income? There are tons of car advertising agencies out there that are willing to pay you for wrapping your car with advertisements.
These car advertising agencies are usually connected with several well-known brands. Once you sign up with these agencies, they will connect with a brand that likes your driving record and your physical location.
After both parties agree with the deal, your car will be wrapped with the brand’s advertising – Now, all that’s left is for you to drive around town as usual and get paid every month!
Storage Space Rental
Do you have some extra space in your shed or garage? If that’s true! You already have a great idea for passive income.
There are several P2P storage rental sites to connect with people who need storage space on a rental basis. Although there are a lot of dedicated storage space rentals… Websites like Stashii allow people to find storage space rentals at cheap rates.
On the other hand, you can make some extra income by renting out your storage unit, shed, or garage!
Start A YouTube Channel
Do you watch YouTube videos on your mobile or at the office? Do you know that people are actually earning money from their YouTube channels? Yes, that’s correct, and you can also earn passive income from YouTube!
To get started with YouTube, you need to figure out your passion and then turn it into a YT channel. For every 1000 views, you get on your YouTube videos, you will earn anywhere from $0.5 to $6. the amount of money you make depends on the country of the viewers.
To start making money from YouTube, follow these steps:
- Create a YouTube channel.
- Find a niche for your channel, such as gaming, traveling, tech reviews, and so on.
- Try to find something that you have a genuine interest in!
- Upload videos of your content.
- Get paid for every view of your video!
Create Mobile Apps & Games
Another great idea for passive income is creating mobile apps and games. Although this method requires a sizable upfront investment of time and money… You will be able to generate passive income for a long time to come.
There are two ways to create mobile apps or games:
- Self-Creation – If you are a programmer, you can create mobile apps/games on your own. In fact, you can even learn mobile app programming for free on YouTube.
- Hiring a dev – Another option is to hire a developer who can turn your idea into a functional mobile app or game.
Once your app is ready, you can publish it on Google Play Store, Apple’s App Store, and other popular mobile app stores.
As for earning money through your mobile apps/games, there are several options… The first option is to make your game/app free and earn money from advertisements and in-app purchases. Another option is to make your app paid and earn money whenever someone purchases it from the app store.
Online Design Selling
If you are good at designing. Then why not turn your passion into a money-making machine? You can create unique digital designs and then sell them online.
There are several platforms that allow you to create items such as hats, T-shirts, and mugs with your printed designs. Whenever someone buys any of these products, you are paid a commission by the platform. Some of the popular platforms for this method include Zazzle and CafePress.
As long as your designs are unique, catchy, and do not infringe on any third-party copyright! You can earn a lot of money by selling your designs online!
Create A Blog
Did you ever wonder why there are so many websites and blogs on the internet? In most cases, people make websites/blogs to earn money!
If you are skilled at a particular subject or have real-life experiences to share, you can create a blog & earn passive income!
The process of creating a blog and earning money involves the following steps:
- Buy a domain name (This will be the name of your blog – For example, google.com is a domain name).
- Buy hosting for your blog.
- Install a CMS such as WordPress.
- Publish articles on your blog.
- Monetize your blog through advertisements.
- Promote your blog on social media and search engines.
Once again, the potential for earning money through blogging is unlimited. If you want a truly hands-off experience. You can also hire a content writer to add content and a VA for managing your websites.
If you have a strong fan following on social media platforms such as TikTok, Instagram, or Facebook. Then you can also earn money from sponsored posts!
These days, influencer promotions have become mainstream & a preferred method for many brands to generate more sales. These brands usually pay influencers to promote their products/services… On the one hand, they get paid for just writing a post or mentioning a company. That’s because this helps companies get exposure and even generate sales!
However, you will need to have a lot of followers for this method to actually work. If you are thinking of using this method with 50 followers on Instagram, it will not work out!
That’s why it is important to improve your social media presence first by posting useful and engaging content. Once you have a sizeable audience on your social media platforms, you can seek sponsors.
Real Estate Investment Trusts
If you do not have the money to invest in real estate. Then you can also get started with real estate investment trusts (REITs).
You can think of REIT as a company that collects money from a lot of people and then use it to invest in real estate. Any profits that are earned by the company are passed down to the shareholders.
Over the years, REITs have become a popular option among investors due to their affordability and passive income. However, you will still need to do research! To find a REIT that has a strong history of paying out dividends over the years.
Affiliate programs allow one to earn a commission whenever a product/service is sold. But the best part about affiliate programs is that you have to put some effort into promotion – You do not have to worry about product development, shipping, storage, or anything of that sort.
Here’s how affiliate programs work:
- You promote the products/services of a company via a unique link on your blog/website.
- Whenever a sale is made, you get a fixed percentage of commission (for example 2% of product value).
- You can promote the products on your social media pages, websites, blogs, and even videos.
If we talk about which affiliate program to join, well, there are tons of options out there! If you are a gaming fan, then you can promote gaming products. Similarly, if you want to promote Amazon products, then you can join Amazon’s affiliate program. There are people out there whose sole source of income is from the Amazon affiliate program. This alone tells us about the earning potential of this method.
Rent Spare Rooms
Want to know another great idea for passive income? You can earn some extra income by renting out spare rooms in your home or apartment!
One of the best ways to rent out spare rooms in your house is through the Airbnb platform. For many people, Airbnb provides more affordable and cost-effective solutions than staying at hotels. Above that, they also get to enjoy a more welcoming and home-like feeling, which can’t be replicated at hotels.
To put your spare room on Airbnb, you will need some renovation work first. However, It is worth it, considering the amount of passive income you can make through this.
To make it really easy, you can also hire a property manager to look after your listings and properties. Although they may charge a monthly fee, it will be worth the hassle. That’s because you will not have to worry about maintenance or any other thing.
Rent Your Bike
Earlier, we discussed the car rental idea for passive income… But for some people, it may not work if they do not have a car in the first place. Well, if this defines you, then there’s no need to worry as you can also rent your bike & earn money!
Suppose you have a spare bike or rarely use it. Then you can list it online and earn up to $500 per month with no extra effort! These days, people love to rent out bikes for traveling. And if you are in a high-traffic area, you will have no shortage of interested people!
Here’s how you can make money by renting out your bike:
- Join a bike rental platform such as Spinlister.
- List your bike on the platform.
- Set up your price, availability, and other factors.
- Get paid and earn up to $500 per month!
Domain Name Flipping
Want to know more about a tech-based idea for passive income? The answer lies in domain name flipping!
This method involves buying domain names at cheap rates and then selling them at a higher price later on. If you are new to domain name flipping. Then you will need to spend some time learning how to separate valuable domain names from those with no demand.
Generally, domain names based on common words or short tend to be highly valued. With so many TLD options and new domain extensions being released every now and then. It is easy to stock up on a lot of domain names.
When buying domain names, you should aim for low prices ($10 – $100) at the start. Once you learn the ins and outs of this business… You can move towards buying more expensive domains and selling them for a higher profit!
Create A Course
If you have knowledge about a subject or possess special skills. Then you can create online courses around skills to teach others & earn passive income! This idea for passive income requires work only at the beginning – Once your course is uploaded on various course-selling websites, you can start earning money in your sleep!
Many people wonder about what type, of course, they should create. Well, it depends on your skills and knowledge level! If you are a motivational speaker, then you create a class on how to stay motivated. Similarly, if you are a skilled electrician, then you can create an online course based on that. The thing is to create something that you are really good at!
You can sell your online courses at Udemy and similar platforms for a fixed price of your choice. In the start, you may need to market your course, but once it gains traction, it will be auto-pilot money!
Buy A Billboard
Yes, I am not kidding… You can actually buy a billboard and then get paid from companies who want to advertise their products or services! If you manage to buy a billboard at a high-traffic location, you can easily earn thousands of dollars per month!
To get started with this idea for passive income, you can opt for any of these routes:
- Build a billboard on your own land.
- Buy an already built one from the owner.
- Get a lease from the land owner to build a billboard.
Once again, this is a great idea to earn money no matter where you are living! And in high-traffic areas, it is not uncommon to earn around $20,000 per year from one billboard!
One of the biggest problems faced by pet owners during traveling is who will take care of their pets… Well, you can solve this problem by taking care of pets in your home. It is common for people to charge anywhere from $30 – $80 per day from pet owners.
To find potential clients, you can spread the word in the neighborhood and tell your friends & family. Another option is to sign up with a website such as Rover. This can help you connect with potential pet owners.
All of us include spreadsheets as one of our skills in our CV but let’s be honest for a moment… Most of us only know the basic functionality of spreadsheets at best. But there are some people who can be regarded as ‘spreadsheet masters’. If this defines you, then this idea for passive income is made just for you!
You can create spreadsheets on Google Sheets or Excel and sell them for a profit. People and companies need all types of spreadsheets for various purposes… Such as profit projections, budgeting, habit tracking, P&L, and so on. But not everyone knows how to create these from scratch.
So in that sense, you just have to create these spreadsheets once and then get to reap the benefits for years to come. To sell these spreadsheets, you can create your own store with Shopify. You can also add a ‘digital downloads app’ to create a standalone service website.
Another option is to source potential clients from Facebook Groups, Twitter, and other social media platforms.
We all love listening to audiobooks since one can feel emotions rather than plain text. So this means that there must be people out there who create such audiobooks… Why can’t that be you? Just like regular books, people get paid in the form of royalties for creating audiobooks!
If you have a great voice and have a thing for telling compelling stories. You will have no trouble creating amazing audiobooks that actually sell!
To make money from this method, you will need to learn these things:
- How to narrate and embed emotions into the story.
- A niche that you have sufficient knowledge in.
- Editing skills
- A great story or a book that’s unique.
Rent out your Tools
Do you love stocking up on tools? Maybe you bought some tools for a home improvement project & now they are just collecting dust? If any of this applies to you. Then you can actually make money by renting out your tools to others!
To get started, you can rent out your tools to friends, family, and neighbors to get the hang of things. But if you want to turn this into a proper passive income stream. Then you can join a P2P platform like Sparetoolz. Through this website, people can rent out tools and pay a rental fee to the owners.
Another option is to take advantage of local Facebook groups and advertise your tools. Considering how everyone needs tools for a thing or two, you wouldn’t have any trouble finding an interested party!
Buy A Website/Blog
Earlier, we talked about building a website/blog and earning money through it. But not everyone has the time and energy to build a website/blog from scratch. Fortunately, you can buy a website/blog that is already successful and making money.
To buy websites like this, you can visit the website flipping platforms such as Flippa to find profitable websites. The beauty of this method is that you will start making money from day 1. Since the majority of such websites are already profitable.
And when it comes to buying profitable websites, the more money you spend, the higher the earning potential!
This passive income idea can help you easily get 5% to 10% profits per year! And the best part is that it is not a highly technical subject as well – You can watch a couple of YouTube videos to understand how staking works.
To get started with crypto staking, you will need to buy cryptocurrencies first. With so many different coins and tokens… You will have to find a coin that offers good returns and is also a solid project.
In Crypto staking, a person holds cryptocurrencies for a certain period of time to earn rewards. This long-term holding of cryptocurrencies improves network security and also helps the coin with its market price. In return, the holder is rewarded for their long-term commitment.
Some of the best options for crypto staking include:
- Ethereum 2.0
- Tezos (XTZ)
- Cosmos (ATOM)
- Algorand (ALGO)
- Cardano (ADA)
- Binance Coin (BNB)
Start A Podcast
If you enjoy listening to podcasts. Why not create your own podcast? In fact, you can generate passive income from your podcast as well!
However, to reach the stage where your podcast earns you passive income, you will need to grow your audience first. Once you have a sizable audience listening to your podcast, you can monetize it with ad partners & sponsors to earn money.
There are many podcast advertising networks, such as Earwolf, Headgum, and Megaphone. And they pay good money for advertising on podcasts.
Rent out your Parking Space
Do you have a parking space at your home but aren’t using it? Then I have some good news for you – There are platforms such as ‘Stow it‘! Through this, you can rent out your parking space to others and earn passive income.
Parking space is something that everyone needs, no matter where you live. And if you have enough parking space in your place, you could fit multiple vehicles and thus earn even more!
ATM Machine Business
This idea for passive income is similar to the vending machine business. However, you will be providing people access to their bank accounts instead of dispensing out drinks and snacks.
When people are at shopping malls, stores, or any other high-traffic location… They rely on ATM machines to get cash right away. So if you install ATM machines at high-traffic locations, you could earn good money in the form of surcharge fees.
On average, you can earn $3 for each withdrawal in the USA – This figure may change depending on your country as well as the local laws. The number of ATM machines that you own will also dictate how much money you can make in a day.
Sell Surplus Energy
Gone are the days when you had to rely on your power distribution company to get electricity. These days, you can create your own energy through solar panels and power up your home. In fact, you can even sell surplus energy to the grid and earn passive income.
On average, solar panels can easily last up to 25 years. This means that you can earn money for a long time to come. But before trying this idea for passive income, make sure that your state allows net metering.
Net-metering is the mechanism through which the grid can not only send you electricity but also receive electricity produced by you.
How much money you can earn will depend on the electricity rates in your country as well as your initial investment. But in general, you will be able to pay off the initial investment in a year or two at best. After that, it will be pure passive profits!
Make Greeting Cards
Do you consider yourself an artist of sorts? Do you have what it takes to create impressive designs? Then you can exploit your artistic skills to create greeting cards and sell them for a profit.
Greeting cards can be made for different occasions such as birthdays, holidays, weddings, and so on. You can find local retail stationary shops or wholesale companies to sell your greeting cards.
Sell Extra Items
Do you have some extra items in your home that you no longer need? Then you can also sell them on Craiglist, Olx, eBay, or the Facebook marketplace.
Most of us have extra items at home that do nothing but take up space. So why not sell them to earn some passive income for yourself?
Item flipping is also another great idea for passive income & is easy as well. To get started, you need to find some items that are priced low or below average. You can find items at your nearby garage sales, eBay, Facebook marketplace, Craiglist, or by asking friends and family.
Many people have turned this into a full-time business. So why not give it a try yourself? All you need is to buy items at a cheap and then sell them for a profit.
Sell Digital Products
Gone are the days when you could only sell tangible items that could be seen and felt in real life. Today, you can also sell digital products and generate a steady stream of passive income.
If you are a designer, you can sell digital art. Similarly, you can create software, apps, and tools if you are a programmer. If you have knowledge about a particular subject, you can also create audio/video courses and sell them as digital products.
The best way to sell these products is through your own websites and blogs. This way, you will be able to keep most of the profits instead of giving them away to third-party platforms.
Crowdfunded Real Estate
As the name implies, this method involves investing in real estate through crowdfunding. The real estate market is getting expensive globally, it has become difficult for small investors to participate. But with crowdfunding, many investors can chip in their funds to invest in a real estate property!
To get started with crowdfunded real estate, there are many platforms out there… Such as CrowdStreet and Fundraise. The minimum amount to get started with crowdfunded real estate is $500. And this is almost nothing when compared with buying a property on your own!
This idea for passive income is similar to REIT and buying real estate on your own. However, the barrier to entry is usually very low, and it requires very little investment as well.
Get Paid For Installing an App
Among all the different ideas for passive income presented on this page, this one is the easiest! All you have to do is install an app on your mobile & get paid for it.
There is an app called Neilson digital, which tracks your activity and sells your data. Although it does collect data, it is nothing confidential or even personal. On top of that, the data can not be linked back to you due to the design of this app.
The app will run in the background without disturbing you or your mobile. Ultimately, you get paid real money for just letting the app sit on your mobile phone!
Another app that is similar to Neilson Digital is called Mobile Expression, which is more suitable for iPad. As usual, you have to let it run on your device for an average of 90 days to get paid.
Rent Heavy Machinery
Although this idea for passive income is costly, it does provide consistently high returns over the years. No matter where you go, people always need heavy machinery to do cumbersome tasks. However, not everyone can afford to buy this heavy machinery, and that’s where you come in!
To get started, you will need to buy heavy machinery such as dump trucks, backhoes, front-end loaders, and so on. You do not have to buy every single of them, though – Just buying one will be more than enough in the beginning. Your aim should be to buy heavy machinery that’s in high demand in your particular area.
Once you buy heavy machinery, you can start renting it out to people and earn money. You can also get a mechanic on board to do the usual maintenance. This will ensure that they continue to run and earn money for you.
Rent Your Clothes
Is your wardrobe filled with nice clothes, shoes, bags, and accessories? Then why not make some money by renting your clothes to others?
In general, every type of clothes can be rented on these platforms. But for best results, designer brand clothes from Eliza J, Alice & Oliva, and Forever21 perform really well. On top of that, your clothes & items will also be insured against getting damaged or lost by other people.
Can I have passive income with no investment?
Yes, you can generate passive income with no investment at all. If you are looking for an idea for passive income with no investment, refer to the 40+ ideas mentioned above. A lot of these ideas require little to no investment and can help you generate a steady stream of passive income.
But there’s a catch, though; Generating passive income with no investment means that you will have to substitute investment with something else – It can be your time, energy, and even skills. However, once again, that investment will only be in the beginning – Once your money-making idea is up and running, it will generate money even in your sleep!
With more than 40 different ideas for passive income, there’s very little chance that you will not find something that interests you! So without making any excuse, go through that list once again and find an idea that suits you and matches your interest!
The way our world’s economy is going down, it has become important to have a passive income stream. Because at the end of the day, there are only 24 hours in a day and you can’t work more than that. But passive income streams require little to no involvement over the long run, which makes them ideal for pretty much everyone.