Passive income from own products
In the digital information age, the opportunities to earn passive income are endless. Especially in the creative field there are many possibilities: You can Write e-books, Online seminars or training host, record and make available as paid web content, or Videos on platforms like YouTube to earn money through advertising. In the second step you can additionally Affiliate Links build into these products and thus cash in twice. Influencers, for example, also belong to this form of passive income. The development of apps could be a lucrative source of income for tech-savvy people.
These are just a few examples of potential sources of passive income. You don’t have to limit yourself to just one of them. On the contrary, it can make sense to have several irons in the fire at the same time if a product – for whatever reason – is no longer making a lot of money. What all these products have in common is that they are relatively time-consuming and sometimes also expensive to create. For this purpose, for example in the case of YouTubers, new content should be constantly created. Therefore, financial freedom is often only given to the extent that you have more flexibility for your everyday work. Over time, however, you can use these funds to accumulate wealth for capital investments or to pay employees who ultimately do the work for you.