It is not enough to have a side hustle, you need a passive income generating stream that makes you money around the clock, in and out of season. In this day and age of high billable, longer working hours and overstretched salaries you need to come up with, and implement passive income generating ideas.
The trick here is in learning to identify viable ideas with the highest potent of complementing your earnings in the short term but with the possibility of turning into wealth creation machinery in the long run.
We have simplified this for you by coming up with 15 of what we consider the best passive income generating ideas and explaining their implementation. These are scalable, require minimal investments, and even less effort to maintain. But first, we debunk some passive income stream myths that may be keeping you from starting the next big thing.
As you age and responsibilities pile up, don’t turn to loans. Instead, consider using the little savings you have while cutting back on some expenses and use this fund to start a passive side hustle. And no, you don’t to be an expert in anything or have millions lying idle in the bank to start a passive income generating scheme. You just need to learn how to use what you have however insignificant it may seem, and grow it one step a time.