5 Most Profitable Passive Income Ideas in 2024

Introduction

If you’re someone who’s looking for the most profitable passive income ideas online and you’re trying to do it passively, you clicked on the right article because I’m going to go through a lot of the critical things that I wish I knew before I built up all of my streams of passive income that have got me to the point of altogether quitting my full-time job and traveling around the world, to various unique locations while still being able to earn a source of income from all of my different streams of revenue, even when I’m on holiday.

So review this entire article from start to finish because you might learn something that will potentially change your life. All right, so the first thing that I want to do quickly is define precisely what a passive income is. The reason is that so many people online are confused about what it is, and other people think they know what it is and are entirely wrong. To me, a passive source of income is essentially where you can either put money into something or extra time into it upfront, and you’re going to pay yourself in a position where you’ll be able to earn money from it over the foreseeable future.

So it all comes down to either putting your time in front or putting in money upfront for you to be able to keep earning from it without really having to do too much down the line. And there are so many different opportunities nowadays to start owning a passive source of income. But in this article, I want to go for around five different ways that I’ve been able to do successfully. 

1- Faceless short-form content

Now, one of the first ways to earn a passive source of income is by building a faceless short-form content platform. I know this sounds mouthful and a bit confusing, but it all comes down to using platforms like Instagram, TikTok, YouTube, shorts, and even Pinterest. When it comes to uploading short-form content to build a platform, you can use it in several ways when monetizing. Now, the reason why I believe that building a short-form content platform is a passive way to earn money is because you don’t necessarily need to show your face on camera.

You don’t need to use your voice in the videos, which means there’s an opportunity to either get someone else to do the work and you’ll pay them, or you can use AI technology when making the content. This is something that I’ve personally been able to do several different times. I enjoy doing it. I’m able to outsource every single aspect of it by the end of the day because I’m the one who owns the account. I’m the person who’s going to be able to take the bulk of the income that the page can make.

For those of you who are thinking right now, but Arslan, how exactly am I going to be able to get money into my bank account by building an Instagram page or a TikTok page or whatever it is? Well, if you can be consistent in publishing, let’s say, one to three pieces of content daily, and you try to ensure that the page you’re working on is within a specific niche. You’ll be able to build up an audience interested in a particular topic, which means you’ll know exactly what type of product or service that person is interested in.

So I say that this is an opportunity to look into it if you want to start earning a passive source of income but moving on to the second way, by building up a niche emo list. Now, the way that this one works is that you’re going to build a new newsletter, and you’re going to focus on a specific niche when it comes to building up newsletters. That is an excellent opportunity to make money because you’ll be able to communicate directly with the person who signed up for your newsletter. So, if you want to email them at any time of the day, you can do that with no issues.

Not only that, but when it comes to building up an email list, it is something you will always be able to own, and I think an email list can be a passive source of income if you can outsource the work. When writing the emails you’ll be sending out, you’ll sit back without having to do too much. Even if you didn’t want to outsource the emails and wanted to write them yourself, you will be able to automate the emails. Write them in bulk and send them out far into the future, whether it’s a month, two months, or three months.

Regarding some email software I recommend, I use either AWeber or ConvertKit mainly because of what I just said. Now, I can produce all of the emails I want to send out in advance and schedule them for the future, similar to what I said. When it comes to building up a short-form content business, you’re going to be able to monetize an email list in a similar way, which is going to be done by either promoting your products and services or you’re going to be able to promote other people’s products and services, also known as affiliate marketing. 

2- Research-Based Affiliate Marketing

This brings me to the following way of earning a passive income: promoting other people’s products. And trying to look out for recurring commissions, now, when it comes to affiliate marketing, there are so many different ways you can do it. You can either promote products where you’re going to earn a one-time commission, or you can find products and services that you can announce where you’ll be able to promote that product just once. And if someone clicks on your link and buys the product you’re promoting, you can continuously keep earning a source of income from that initial sale.

So, doing this affiliate marketing method is one of the best ways to increase your chances of earning a passive source of income because you can most likely continue making some money in the future. Even if it’s one year, two years, three years, or five years, as long as that person continues paying for that product, you’ll be able to keep earning something, and there are several different ways to do affiliate marketing. One of my favorite methods Is doing search-based affiliate marketing. This comes down to ensuring you’re putting your affiliate links before someone actively searching for that product or service.

You can find these affiliate programs in several ways you can sign up for. Of course, you can go onto a regular affiliate marketplace or network. You know, places like impact.com ShareASale Partnerstack, I would say go into these websites and scan understanding of the different companies. Still, when you also want to go directly onto a website that you believe that you’re going to be able to promote effectively, scroll down to the bottom of the page, and nine times out of 10, they’re going to have a link that’s going to say, something like becoming an affiliate or sign up to our affiliate program. 

The key thing you need to remember when promoting recurring commission products is that they will most likely be digital products. Things like software are other things that people tend to pay for month after month. So, suppose you can find the highly searched-for digital product or software with a recurring commission payout structure. In that case, this will put you in a great position when earning a passive source of income.

3- Ranking Information Articles on Google

The online businesses that you can start to make money passively are simply by ranking information articles on Google. So one of the things that I always have to remind you guys on this blog is that Google is the most visited website, and it’s also the most visited search engine in the entire world, which means that millions and billions of people are going onto it every single month, they’re typing in specific keywords for them to get some information back, and if you can position your website in front of that person, thousands of people will be coming to your website.

Of course, from that point, you can monetize in several different ways. Now, building a website isn’t difficult at all. There are so many different ways that you can do it and get your site up and running in a matter of minutes, even when it comes to writing articles, publishing them on your website, and getting them ranked on the first page of Google that isn’t really difficult or as long as you know exactly what you need to do because I’ve been able to do it many different times on brand new websites. I believe this online business can earn you a passive source of income because you don’t have to do anything with the website.

Of course, when you first get it up and running, you will be the person to build the website potentially. Maybe even write the articles, but once you start earning money from perhaps you’ve got some shrinking budget to invest into it, you’ll be able to hire a writer. You’re going to be able to hire a website designer, and as long as you’ve got a solid monetization plan and strategy, in case all you’re going to do is everything, ensure that everything has been done to your satisfaction.

You’re simply going to be able to collect all of the money you’ll make from multiple different sources. Wherever it’s, you put in Google ads or AdSense on your website. Or suppose you are doing affiliate marketing, or maybe you will promote your product or service. In that case, you will have multiple ways to generate revenue from the website without doing too much. 

4- Publishing Evergreen Videos on YouTube

This is a similar thing with one of the ways of earning a passive source of income: publishing evergreen videos on YouTube. So, most of you probably don’t realize this, but YouTube is the second most visited website in the world. Not only that, but it is the second most popular search engine in the world after Google. The reason why that’s important is that people go to YouTube, go to the search bar, and type in a specific search term for a particular video to show up. The good thing about YouTube is that it will not only be watched today if you can make a high-quality video.

It’s not only going to be watched next month but it can be watched year after year after year. People are still watching now, and I’m sure you guys can already see how this will pay you in a position of earning, the passive source of income. If you can produce evergreen content that you know people are actively searching for every single day, then you’ll be able to earn money from the ads that will be played on the video. Whatever product or service you want to promote, you’re probably thinking to yourself, but Arslan, I don’t necessarily want to show my face on camera.

I don’t want to sit down in front of the camera, and the YouTube period is that you don’t necessarily need to do that. Of course, you can start an on-camera channel. You can also begin faceless YouTube channels where you don’t need to show your face. You don’t need to use your voice, and you can outsource that to various people who will be able to handle every single element of running a YouTube channel. Whether creating the thumbnail, editing the video, or doing the voice-over, you can outsource this to various freelancers on websites like upwork.com and freelancer.com.

We live in a day and age where there are so many different possibilities when it comes to starting to grow and scaling up your YouTube channel without you ever having to sit in front of a single camera. If you want me to make a detailed blog post about exactly how it is possible as I write, please tell me in the comments below, do the faceless YouTube video, and I’ll get on to it and do a step-by-step article ASAP. 

5- High Interest Saving Accounts & Investments

This brings me to one of the final ways of earning a passive income source. One of the last ways I’m making a passive source of income where I don’t have to do anything at all is through high-interest savings accounts and investments. Now, when I say high-interest savings accounts, the way that this works is that if you speak to your bank.

The bank that you’re using right now, or maybe you do research, depending on what country you live in, you’re going to be able to find bank accounts that are going to pay you perhaps around 3%, 4%, 5% money that you’re going to put into your savings account, which means that instead of you just earning 0.1% or whatever a standard savings account, is the interest that you’re going to make from the money that you’re going to put into your high interest saving account can be pretty substantial.

Now, of course, the more money that you have to put into it, the more money that you’re going to make, but this is something that every single one of you right now, even if you’re working a nine-to-five job, should consider doing and another thing that every single, one of you should consider looking into is investing your money into certain ETFs and index funds. I would say that the initial one that you should look into is the S&P 500. This is the one that I primarily put most of my money into, especially when using specific trading apps.

I’ve got some portfolios that I put the bulk of my money into, but when it comes to the standard trading apps I use on my phone, the leading apps are Webull, Free Trade, or Trading 212. If you sign up to deposit something a little, you’ll be able to get a completely free share. Still, you want to have the mindset of investing in ETFs and index funds because you’re going to be able to set up automation to invest in them without having to do anything. And as long as you’re investing your money into the right index or funds.

You’ll benefit from the fact that the index fund will go higher, which means you’ll be able to make a profit. Not only that, you’ll also be able to earn dividends every four months. And, of course, there’s a lot more that goes into doing this, just like with every other method of making a passive source of income that I’ve written about.

Conclusion for These 5 Passive Income Ideas

In today’s blog post, I’ve discussed five different passive income ideas that are unique ways to generate passive income. I hope you will learn something from my article, and it will help you choose your way of passive income. So, if you like or do not like my five passive income research ideas, please tell me your opinion or remarks in the comment section. If you are curious about how to make money from your phone, check our recent blog post in which I share the 21 ways to make money with your phone, and without any hesitation, you tell me what type of content you want to be read on our future blog posts.