These 5 Super Simple Passive Income Ideas by Sanjay Jain Will Help You In Living Your Dream Life! – The Week

October 18: Who does not want some extra money in their pockets?
Whether you are a business person, a 9-5 employee or a freelancer, everyone can use a little more income for emergency or surprise expenses. During the Covid-19 pandemic, people realised the importance of having a source of passive income all the more. In here, you will learn the 4 best ways to earn passive income. But first, let us understand the basics.
While Active Income is earned by investing a fixed number of hours, effort and money in any kind of work, Passive Income is a type of income that takes lesser work in the form of such resources. However, Life Coach and Mind Power Trainer, Sanjay Jain states, “Although passive income requires comparatively lesser effort, it does require effort nonetheless. Passive income can indeed be earned by investing lesser time, money and effort, but at the same time, it cannot be earned with zero investment."
Having an experience of more than 20 years, Sanjay Jain has mentored over 1 lakh people across the nation till date. He is also the Universal Crown Ambassador at Safe Shop, one of the top Direct Selling companies in India. Along with this, he is also a Tedx Speaker, a well-known personality in the area of Direct Selling and an eminent panelist on different shows at channels like Zee Business, ET Now Swadesh, CNBC Awaaz and News X. He has won many prestigious awards such as ‘The Best Life Coach and Motivational Speaker, ‘India’s Greatest Leaders 2017’, and ‘The Most Admired Global Indians 2019’. 
Here is the list of the best & easiest 5 ways with which you can start earning a passive income and this income can be scaled as per your wish with very minimal investment in terms of time, money and work:
1.  Sell digital assets: Digital assets are products that can be offered to customers online in the form of soft copies. These include eBooks, courses, photography, music, designs, research and data, PDFs, software, podcasts, etc. You can invest your time in learning new skills to create digital assets and then use them to generate income.
2.  Rent out unused space: For investors, real estate has proven to be a fantastic financial opportunity. However, investing in real estate for passive income is not effortless from the very beginning. Real estate owners must lay the groundwork to begin generating income, depending on the kind of rental strategy they apply. Once the rental is operating, your space will start generating income without requiring regular work.
3.  Invest in Mutual Funds or an FD: You can start a mutual fund with as low as Rs. 1000 each month once you’ve established your risk tolerance and investment capacity. The longer the tenure and the larger the investment, the higher profits you will receive. If you need a safer method for investing that requires no work, you can open an FD. The best part is that all of this can be done online.
4.  Peer-to-Peer (P2P) Lending: Peer-to-Peer lending, also known as social lending or crowd lending, enables individuals to lend or borrow money from one another without the use of a bank. The P2P lending website determines the fees and conditions and permits the transactions. As an individual investor, you can get a higher rate of return on your cash savings as compared to a bank savings account or FD.
5.  Direct Selling: Direct Selling is a type of business that relies on independent agents engaging in one-on-one sales. For those with lots of enthusiasm, good sales abilities, and the ability to establish a successful business with little capital input, it’s a terrific method to generate some passive income.
According to Sanjay Jain, the first step towards earning a passive income is to start investing in assets and not liabilities. Anything that costs you money is a liability which includes luxurious cars, TVs, mobile phones and other such amenities. Money should rather be invested in ideas or buying assets such as stocks, bonds, rental properties, and goods that will appreciate, to generate passive income.
Disclaimer: This is a sponsored post, and the views expressed are those of the sponsor/author and do not represent the stand and views of THE WEEK.
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