A wise man has money in their head, not in their heart. The teenage years are one’s most prime days of their life that you could easily make a fortune. Passive income is one such great way to amass wealth as a teenager.
Akin to its name, passive income is money earned with little effort actively. It’s money that generates itself without much of your physical effort input. Let’s delve into four top ways to make passive income as a teenager.
Investing in stocks is one sure way to make a killing while doing relatively little. There are various forms of stocks, but pay close attention to the dividend stocks. As a teenager, scout out for reasonable and relatively affordable company shares from your savings and buy them. After a year, you are guaranteed their annual dividends calculated on the quota of your shares. Consequently, the profits accrued on those stocks are also handsome.
Online Courses /eBooks
Let’s say that you have that one niche that you are a guru at. You could create online courses and eBooks and sell them on Amazon’s Kindle and other Ecommerce sites. Moreover, you could set up virtual tuition classes on Udemy to make a killing as well. The golden side of these online courses is that everyone needs to sharpen their skills; thus, you are assured of an evergreen market.
As a teenager, you might have some savings and significant financial support from family and relatives. How about trying to get some land parcels or rental developments. For land, one could buy it and hoard it for some two-three years and sell it off at even double the buying price. Remember, land appreciates.
Monthly rent is also a great way to make passive income in the comfort of home. Set up residential or commercial spaces and let them out. Depending on your tenure agreement, you are assured of money monthly, quarterly, or semi-annually. Remember, housing is a basic need; thus, returns are solid.
With that state-of-the-art digital camera or smartphone, anyone can capture crispy photos and make a fortune out of them. Websites, magazines, blogs often need sharp, captivating pictures to generate traffic to their sites. You could approach such houses and strike a deal with them, per photo sale.
Consistency wears out resistance. Consider the above golden ways and watch money work for you.