I’m diving into the world of passive income and looking for some fresh ideas. I’ve tried a few basics, but I’m hungry for more unique or creative ways to make money while I sleep. What’s worked for you, or what interesting strategies have you come across?
provide insurance for Aca. People don’t just stay with you for years or even decades following your first, less than hour-long sale; it doesn’t start off that way. $20 a month for each individual. Some people have more than 3,000 clients, and 70–80% of them automatically renew each year without requiring a call. Thus, $60k each month. Since you already have them in your possession, you then cross-sell them or offer them Medicare when they qualify. Medicare pays $30 per month after an initial outlay of about $580. Very charming, and since “people buy health insurance and are sold life insurance,” it makes more sense for someone to break into health insurance than life insurance.
Building passive income often requires initial effort and investment. Be patient and persistent, and you’ll likely find a strategy that works for you.
You can write e-books on subjects you know a lot about and sell them. Make online courses and market them on sites like Teachable or Udemy. Invest in equities of businesses that yield consistent dividend payments. You will not need to sell your shares in order to get a cut of the company’s profits, which are usually distributed on a quarterly basis. You can make relatively small first contributions in real estate projects by using platforms such as Fundrise. Property appreciation and rental income provide you with a return.