How to generate passive income in India? If you are a student, employee, or businessman, it does not matter. You will come to know each and every detail about passive income ideas in this post. I will share practical and realistic things to generate passive income in this post. You have to implement each and every idea that I am going to share here.
What is Passive income?
So for those who do not know what is passive income? Let me tell you, Passive income means any kind of work that you have done once, will create money lifetime for you. For example, if you have a house and it is rented, you will always get a certain amount for a lifetime. Your rented house will create a passive income lifetime for you.
Let’s take a second example, you have written a book, and your book is published on the Amazon website. You will get money if someone will purchase it, this is also an example of passive income. I hope you must have understood what is passive income.
How to generate passive income in India?
You must have understood what is passive income. Now let’s see what are the ideas for creating passive income. Success will not come unless and until you are completely restless. It is not motivation but a fact. You have to work out of your comfort zone if you want to create a next-level income. There are some practically possible ideas through which you can create a passive income. It won’t happen overnight, you have to work for it with consistency.
1- Blogging.
If you don’t know what is blogging, then let me tell you that blogging means sharing your ideas and knowledge over the internet by making a website. You are reading this post, it is a blog, and here I am sharing some value-added information with you. You can start blogging on any topic, it may be health-related, exercise-related, Moneymaking tips, News, product review, etc. Choose a niche idea and work on it on your blog. After getting Google Adsense approval you can start earning money from your Blog.
2-Youtube Channel.
Youtube is full of knowledge and entertainment. You can start making videos on any topic in which you are interested. If you are a girl or woman you can start posting your recipe videos on youtube. If you are a Gym lover and have good knowledge about workouts and diet. You can start a youtube channel and make such videos on it.
Most people give up when they do not get subscribers and views. But trust me when you are consistent about your work, you will definitely get a good result in the future. Before that learn about video editing, Thumbnail, title, tag, and description. There are so many things that you need to learn before starting your Youtube channel. When you learn then only you can earn.
Also, read How to make money from Youtube
3-Rent a property.
Property means not only your home, but your car can also be property. You can rent out your home or car to someone and can create a passive income for a lifetime.
I have seen so many people who have purchased a car but they drive often. Instead of keeping it at your home, you can rent it out to someone and get money. Many people have DSLRs but they often shoot videos or photos, you can also rent it out to get money. Your property should work for you and it will create a good amount of money.
4-Investment.
If you are earning through Job and business then instead of saving your money, invest it wisely. Your investment can be in anything, Mutual fund, Stock market, Cryptocurrencies, real estate and etc. I know for some people it is hard to save money because of their home and daily expenses. For those, I would say work on different skills and create 2nd source of income and then invest.
If you are earning a good amount of money then you can take a small amount from your salary and invest it in Mutual funds, the Stock market, or high-paying dividends.
Do proper research before investing your money. 1 bitcoin was equal to 2 Rs approx in 2009 and 1 bitcoin is equal to 2,935,824 Rs in India. Just think if you have invested in Bitcoin 5-6 years back, it would have become more than your expectation. This is also the best idea that how to generate passive income in India.
5-Sell course
If you are good at anything then you can create a course and sell it on multiple websites. Here is the list of websites where you can sell your course.
- Udemy.
- Skillshare.
- Teachable.
- Ruzuku.
- LearnDash.
- Podia.
- Thinkific.
Everyone has a hidden talent that he can teach people. It could be anything, like Excel, Blogging, SEO, IT-related info, Video Editing, Photo Editing, Coding, Web designing, etc. Any kind of skills you know, you can create a course and sell on these websites. This is also a great idea that how to generate passive income in India.
Why Passive income?
Many people think that passive income will make them rich. Passive income doesn’t make you rich instead it helps to meet your day-to-day expenses. Why do people do jobs and business?
He does it so that he can maintain his day-to-day expenses. He can have a ration in his home, he can pay school fees to his children. There could be so many reasons that a person works hard daily. We are all talented, yes you are reading this article, you are also more talented.
Many people do not explore themself and their creativity. It is because they focus on their daily life activity, daily job work, daily expenses, daily relationship problems, etc.
Because of this, they do not get time to understand themselves. The people who just think that they want a passive income won’t get anything. The person who just wants to work more for himself, not for any company or any organization creates passive income for himself. Just imagine that if your daily expenses meet without doing any work, you will do everything to live a life like this.
You will find so many articles and videos on the internet about passive income. Personally, I feel illogical and unrealistic. Many people say, to become an Influencer, make an App to get passive income, do affiliate marketing to create passive income, etc.
If you are writing a book or creating a course just by thinking that it will give you passive income then forget it. Your motive should be to provide ethical knowledge to the people, it should be value-added stuff in people’s lives, then only you can create a passive income.
Also, read How to be Financially Independent in India?
There is also a myth that creates 5 sources of income if you want to be rich and wealthy. Let me tell you do not focus on 5 things at once. Focus on one thing, the rest will automatically come to you. For example, just see a Cricketer, he just plays cricket for their country, but when he gets his name and fame then Companies and Brands approach him for brand promotion, ads, movies, etc.
Invest and create a corpus.
This is a slow process but a powerful one. If you are working for a long period of time whether you are an employee or businessman. It’s obviously your income must have increased. I have heard from so many people that if their income increases their expenses increase. Financially Intelligent people know that if their income increases then their savings should also be increased. They do not go for materialistic things which are not needed. They focus on Investment and savings. Keep money on investment always rather than savings.
If you are earning 30k in a month then make sure you spend some small amount out of it in smart investment. Let me tell you, you are living in a smart world today. You have free access to the internet and the internet is full of knowledge and ideas. If you do not know about investment, share market, Mutual fund then read and research about it.
It’s better to scroll on social media to learn and watch some informative videos on youtube. Trust me you can learn 90% of stuff for free using Google, Youtube, and other social media. That’s why create a corpus if you want to be financially independent and grow your money. By creating a corpus you can meet your daily needs without worrying about it.
Conclusion
A turning point comes in everyone’s life and he knows how to utilize it. Without any effort, he receives a large amount of money and it’s happen once in a blue moon. The money can come from anywhere, it can be from your business, lottery, Real estate and etc. You will find an end number of things where you receive a large amount of money at once.
If it didn’t happen yet with you then wait and work hard for your dreams and goals. Even there was a turning point in my life where I have received an unexpected amount of money and I had utilized it smartly. It’s a fact that this kind of turning point comes in everyone’s life.
Some people make some mistakes, they use this money for appreciating toys. They purchase iPhones, Cars, bikes, High-quality gadgets, etc. Such kind of materialistic things won’t create money for you in the future instead it makes you waste more money on these purchased things. The value of these things never increased in the future which you have purchased.
Instead of investing your money in such kinds of materialistic things, invest your money in high-paying FDs. Your smart investment will automatically work for you while you are sleeping. Invest your money in high-paying deviant stocks and other things which can make money for you. This is the post about how to generate passive income in India. Hope you will implement these ideas and work on them.