6 Ways To Make $100K Per Year With Passive Income

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Money / Wealth

Passive income has grown in popularity over the
last several years. And it’s no wonder why: who wouldn’t want to
earn more money with minimal effort?

In fact, around 20% of American households are
already earning passive income through dividends, interest or
rental properties, according to the U.S. Census Bureau.

But, according to experts, these aren’t the only
ways to passively earn extra cash, especially if you’re willing to
put in the work at the beginning of your endeavor. Here are some of
the top ways to earn $100,000 per year in passive income, according
to financial experts, investors and business owners.

Start a Niche Blog

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Chelsea Clarke, founder of HerPaperRoute, says
starting a niche blog requires a lot of upfront work. But if you do
it right, it can become a valuable source of passive income later
on.

“Blogging is an excellent way to earn passive
income from multiple sources, such as ad revenue, your own digital
products or courses and income from affiliate links,” she
added.

Keep in mind that starting a blog requires
purchasing a website domain, hosting and possibly a website
template. You’ll also need to spend time writing consistent blog
posts, optimizing those posts for search engines, promoting your
content on social media and growing your email list.

Some may find this process more difficult than
it sounds. After all, only 29% of bloggers made $52,000 or more
from their blogs, according to a 2022 Ecommerce CEO survey.

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Create a Course

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Many bloggers might choose to supplement their
blogging income by creating a course for sale. However, Clarke
cautioned, it requires quite a bit of upfront work to create the
course and sell it — not to mention building an audience
beforehand.

Once you have those elements in place, though,
you “can continue to earn profit from [your course] for years to
come,” she said. “It’s also a scalable income stream, meaning
there’s no limit on what you can earn from your course.”

Plus, you don’t need to have an advanced degree
or be incredibly well known to launch a course.

“Chances are you’re an expert at something —
whether that’s prepping budget-friendly meals for the family or
creating DIY furniture,” Clarke said.

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Invest in CDs

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If the idea of upfront work doesn’t sound
appealing, you may want to consider more traditional avenues for
passive income. Paul Baessler, chief compliance officer of the AI
investment app Q.ai, said one of the easiest ways to earn passive
income may be through a certificate of deposit (CD).

“With the recent hikes in interest rates,
investors can get 4%, 5%, 6% or even 7% rates on CDs from some
online banks,” he said. “Assuming the bank is a member of the FDIC,
your funds are guaranteed by the U.S. government up to
$250,000.”

Buy Stocks

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Another relatively simple way to passively grow
your income is through dividend-paying stocks, especially if you
rely on a financial advisor.

“There are many stocks paying double-digit
dividends rates,” Baessler said. “Dividends aren’t guaranteed, and
stocks can fall, but there are plenty to choose from.”

Consider Bonds

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Fixed-income securities bonds are also worth
considering, Baessler said.

“Investors can purchase individual bonds issued
by corporations that provide a yield of anywhere between 4% and 7%
for investment-grade bonds,” he said.

Investors looking for an even greater yield —
and who are comfortable with taking on greater risk — may find
higher rates of return through high-yield bonds.

“For investors who intend to hold those bonds to
maturity,” Baessler said, “any subsequent fluctuation in price is
immaterial.”

Purchase Real Estate

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Real estate may be one of the most common ways
to pursue passive income. After all, around 70% of rental
properties are owned by individual investors, according to census
estimates.

Hiring a property manager who can handle
day-to-day upkeep and tenant communication may help make this
investment more passive. But you’ll likely still need to do the
upfront work of finding profitable properties.

However, growing your income through real estate
can be difficult to do quickly. For example, Alex Capozzolo,
co-founder of Brotherly Love Real Estate, said it took him 15 years
to grow his portfolio to 20 properties, which now generates for him
an income of around $100,000 per year.

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