Top 5 ways to make money on autopilot
Below are some of my favorite passive income streams that you can use to grow your earnings and make money on autopilot.
Start a blog or website and earn money
Starting a blog or website is one of my favorite ways to earn passive income every month and almost anyone can start.
With this income stream, you will need to spend time growing your audience before you start earning a significant income, which may take several years.
Once you start getting traffic, you can monetize your website using several methods such as display advertising, affiliate marketing, and selling online courses or services.
Starting a blog or website will cost you around $150 per year. This will cover the cost of your domain name and hosting for an entire year.
I recommend using Namecheap to buy your domain name and SiteGround for hosting. These platforms are rated extremely high and are also very affordable to build any website.
If you're running a blog or website, you might be wondering how to get traffic to your website. The good news is that there are many ways to drive traffic to your website. The bad news is that almost all of them will require time and effort to get steam. One of my favorite ways to get traffic is through search engines like Google. Whenever you search, the search engine finds relevant content to display to you. Search engines are an extremely reliable way to generate traffic to your site to make money online. You will need to create your content in a way that is easy for a search engine to understand and make sure you follow all search engine guidelines to ensure your content is displayed.
Once you get steady traffic to your site, you can start monetizing it through display ads and affiliates like Amazon Associates. Some blogs and websites do better than others when it comes to affiliate marketing.
For example, a food blog can be a great way to make money with Amazon Associates because Amazon offers a wide variety of food-related products.
If you want to monetize your site using a different method – selling products or services can be a fantastic way to build your income.
Selling digital products on your website is a great idea if you want to make money online. Growing your site can take time, so don't give up if you don't see immediate results. If you invest in Google and SEO, be prepared to give your site at least 6 months to grow.
Invest in stocks and make money on autopilot
The stock market is one of the best ways to grow your money without working.
Depending on how much money you have to invest – it is possible to earn thousands of dollars a year from your investments.
When you start investing, you'll want to make sure you have money to lose before you invest every penny.
Don't know where to start?
I recommend using Acorns to invest in the stock market. This easy-to-use platform allows you to invest in all your favorite stocks, ETFs, mutual funds and more with a simple user interface. As a bonus, you get $10 absolutely free just for signing up.
Invest in Crowdfunded Real Estate and make money
Crowdfunded real estate platforms like Fundrise are an excellent choice if you want to invest in real estate without all the hassles and headaches that come with owning a rental property. You will need some money to make this investment, but the minimum investment is just $10 - making it a viable option for almost anyone.
On the other hand, making money with this method will not require much effort. Just open an account, link your bank account and start earning interest on your investments.
As a bonus, Fundrise gives new investors $10 to invest absolutely free - so why not give it a try?
How much money can you earn?
In short, it matters. It is entirely possible to earn anywhere from 5% to over 15% annually on your investment.
There are several crowdfunding sites you can use, but my favorites are Fundrise and Crowdstreet. Create your account below to get started!
Rent storage space
Do you have extra space you're not using? Renting can be a great way to earn extra money each month without having to do any work.
You can use a platform like Neighbor.com to list your vacant space for others to rent.
The amount of money you can make will depend on your city and the type of space you rent, but this can be an easy way to make $50 a day or more. Some spaces you can rent include:
- Parking slot
- Closet space
- Parking place
- Basement space
- And more
Enter your free space below to get started!
Invest in real estate investment trusts
If you want to invest in real estate similar to crowdfunding, real estate investment funds are an excellent option.
These investments are publicly traded and are treated much like stocks or mutual funds.
As with other methods of real estate investing, your returns can be anywhere from 5% to over 10% per year.
You can buy REITs using an investment app like Acorns. Get $10 absolutely free when you create a new account using the link below!
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