• Contact now
The Daily Voice News - Everything in one store
Advertisement
  • Auto
  • Business
  • Education
  • Finance
  • Health
  • Home
  • Law
  • Shopping
  • News
    • Tech
    • Travel
    • Sports
No Result
View All Result
  • Auto
  • Business
  • Education
  • Finance
  • Health
  • Home
  • Law
  • Shopping
  • News
    • Tech
    • Travel
    • Sports
No Result
View All Result
The Daily Voice News - Everything in one store
No Result
View All Result

Best passive income ideas for 2023

Claire Jesse by Claire Jesse
in Finance
0
Best passive income ideas for 2023

Passive income can earn you money without the hassles of working full-time. There are several ways of earning passive income, like renting out your property , doing part-time businesses or investments, wherein you have zero direct participation. This is in contrast with the usual 9-5 traditional jobs where you require investing your time and effort if you want to earn money.

However, digitisation has changed the aspects of passive income. Today, various passive income ideas aren’t as passive as they were years back. These ideas involve beginning an online business, writing gigs, running an affiliate marketing program, or becoming an IDFC FIRST Bank MyFIRST partner.

Here are some popular passive income ideas for 2023 through which you can generate considerable income.

IDFC FIRST Bank MyFIRST Partner app – refer and earn

MyFIRST partner referral app is one of the fastest emerging means to earn money from home without investment. With zero investment, you can start earning money through this referral program. You just need to refer individuals who need personal loans. Every successful referral made by you would earn you a payout depending on the loan amount. Yes, you read it right, this is a work-from-home gig without any investment that can help you earn a considerable side income. What is best is, anyone can register on the IDFC FIRST Bank MyFIRST partner app to earn passive income. No matter whether you are a real estate/financial/insurance advisor, graduate, student, or a housewife, you can enrol on this program and earn.

High-yield savings bank account

Opting for a high-yield savings bank account is one of the best and most straightforward means of earning money passively. You can place your earnings in these accounts to earn from the interest accrued on the deposited funds. While it is a direct approach to earn passive income, this measure binds your surplus funds to a safe instrument i.e., savings account to offer you decent returns.

Dividend yield stocks

When you invest in dividend-yielding stocks, you earn dividends based on the number of shares that you hold after a fixed interval. In case you are familiar with the stock market, you can even consider investing in dividend ETFs (exchange-traded funds), which endow the benefits of ETFs with passive income provided by dividend stocks.

Buy rental property

Making real estate investments and renting out your properties is another prudent passive income idea. However, you will require investing a significant amount to purchase the property and make efforts to find a reliable tenant who would pay full rent on time.

Invest in REITs (Real Estate Investment Trusts)

Property rentals are the next crucial way of earning passive income. Assume that you want to avoid incurring upfront time commitment or considerable down payment that usually comes along with owning an estate property. In this case, you may give a thought to investing in real estate investment trusts. This investment option allows you to invest money in a business that manages and owns real estate. In such investments, you can make money in 2 major ways i.e., via dividends or if the stock value enhances.

Selling through the online channel

Selling distinct products online is one of the popular means of earning passive income at present. You must figure out unique products with high market demand, market them, and sell them through various online modes.

The most effective means of forming wealth is through passive income. Along with a full-time job, you can earn additional payment with minimal effort. Earning additional income passively can enhance your wealth-building potential, making early retirement easy for you. Not to forget, earning passive income can even assist you to attain your financial goals earlier, pay your debts and even invest more.

Previous Post

You’ll Want to Get into These Industries When You Live in Chicago

Next Post

Business Watch: Olugbenga Agboola, CEO of Flutterwave, Is Recognized as a Private Sector Leader at Abuja Ceremony

Related Posts

What happens after 15 year term life insurance?

What happens after 15 year term life insurance?

by Claire Jesse
August 28, 2023
0

A sort of life insurance that protects you for a predetermined time period is called term life insurance. Term life...

How to Invest for the Long-Term?

How to Invest for the Long-Term?

by Claire Jesse
August 22, 2023
0

Long-term investing can be a wise strategy for accumulating wealth and achieving financial objectives. Long-term investing is keeping investments for...

Building a diversified portfolio with index funds for reaching Rs. 5 crores

Building a diversified portfolio with index funds for reaching Rs. 5 crores

by Claire Jesse
August 19, 2023
0

Index mutual funds that passively track market indexes can be strategic investments to build a corpus of Rs. 5 crores...

How can existing debt obligations impact your new personal loan eligibility?

How can existing debt obligations impact your new personal loan eligibility?

by Claire Jesse
June 17, 2023
0

If you are planning to apply for a new personal loan, it's crucial to realise that your current debt obligations...

How Fast Can I Get a Hard Money Loan for Property Investing

How Fast Can I Get a Hard Money Loan for Property Investing

by Claire Jesse
June 6, 2023
0

Although hard money lenders can lend for all sorts of reasons, many of them specialize in real estate investments. That...

Load More
The increasing importance of diversity and inclusion in public relations firms

The increasing importance of diversity and inclusion in public relations firms

September 27, 2023
Bridging the Gap: How Light Jet Charters are Transforming Regional Air Travel

Bridging the Gap: How Light Jet Charters are Transforming Regional Air Travel

September 20, 2023
Hauser Private Equity Introduces New Leadership Team, Praised by Mark Hauser

Hauser Private Equity Introduces New Leadership Team, Praised by Mark Hauser

September 15, 2023

Recent Posts

  • The increasing importance of diversity and inclusion in public relations firms September 27, 2023
  • Bridging the Gap: How Light Jet Charters are Transforming Regional Air Travel September 20, 2023
  • Hauser Private Equity Introduces New Leadership Team, Praised by Mark Hauser September 15, 2023
  • Creating an Effective Email Signature Using a Free Email Signature Generator September 14, 2023
  • How to Choose the Best Self Inking Stamps for Your Business or Personal Use September 14, 2023
  • Shelton Haynes: Pioneering a Seamless Commuter Experience on Roosevelt Island September 12, 2023
  • Choosing the Right Mortgage Lender – Your Key to a Successful Home Loan September 1, 2023
  • Flavio Maluf: Criando um futuro mais verde August 29, 2023
  • What happens after 15 year term life insurance? August 28, 2023

2023

  • – September (7)
    • The increasing importance of diversity and inclusion in public relations firms
    • Bridging the Gap: How Light Jet Charters are Transforming Regional Air Travel
    • Hauser Private Equity Introduces New Leadership Team, Praised by Mark Hauser
    • Creating an Effective Email Signature Using a Free Email Signature Generator
    • How to Choose the Best Self Inking Stamps for Your Business or Personal Use
    • Shelton Haynes: Pioneering a Seamless Commuter Experience on Roosevelt Island
    • Choosing the Right Mortgage Lender – Your Key to a Successful Home Loan
  • + August (10)
  • + July (8)
  • + June (14)
  • + May (6)
  • + April (9)
  • + March (8)
  • + February (11)
  • + January (8)

2022

  • + December (25)
  • + November (12)
  • + October (7)
  • + September (14)
  • + August (16)
  • + July (10)
  • + June (7)
  • + May (14)
  • + April (10)
  • + March (32)
  • + February (12)
  • + January (9)

2021

  • + December (11)
  • + November (7)
  • + October (11)
  • + September (15)
  • + August (8)
  • + July (11)
  • + June (10)
  • + May (6)
  • + April (21)
  • + March (14)
  • + February (6)
  • + January (16)

2020

  • + December (14)
  • + November (17)
  • + October (16)
  • + September (5)
  • + August (8)
  • + July (5)
  • + June (7)
  • + May (5)
  • + April (16)
  • + March (11)
  • + February (7)
  • + January (5)

2019

  • + December (2)
  • + November (1)
  • + October (2)
  • + September (1)
  • + August (1)
  • + July (7)
  • + June (8)
  • + May (13)
  • + April (10)
  • + March (4)
  • + February (2)

2018

  • + June (2)
  • Contact now

© 2022 The Daily Voice News. All Rights Reserved.

No Result
View All Result
  • Contact now
  • FAQ
  • The Daily Voice News

© 2022 The Daily Voice News. All Rights Reserved.