Passive Income Sources are like building a system to generate wealth without you getting employed.
I have been trying to find a good list of passive income sources after reading the classic book on money management Rich Dad, Poor Dad but specifically for the Indian Market and I have been struggling to find these nuggets across at least 20+ blogs and forums such as Quora.
So I decided to curate one based on how I want my revenue stream – which is consistently month-on-month and not as a yearly bonus.
Want to help me?
Drop your list in the comments if you know something that I haven’t added.
How have I defined & derived this list of Passive Income sources?
Passive Income is the income you earn without working for an employer. Instead, you let money work for you.
It is that type of income which you earn monthly without working ‘now’ than in the ‘future’. This means SIP’s don’t really do a good job. SIP’s take money from your pocket with a promise to earn in the future. They do not make money for you ‘now’. Hence they are not a form of Passive Income source according to the below list.
Consistency. I was looking for ways I can make money consistently instead of getting lucky one time. So the usual passive income sources such as winning the lottery, or income from gifts by people are not included.
Based on the three conditions above,
Biggest list of all Passive Income sources in India.
- Income from Rentals:
- Real Estate Property
- Paying guest or on Airbnb
- Renting furniture
- Spare car as a Taxi
- Heavy Vehicles rented out
- Spare Camera
- Spare Laptops/Computers
- Affiliate Marketing: This is the income you by signing up for marketing products on a website & sell products on behalf of that company via the internet
- High viewership Youtube Channel
- Running a blog: Making money through Ads via Ad Sense or Affiliate Marketing
- Invest in or start a Business: This is a business where you are not an employee
- Loaning money to someone or Interest Income: Provided you loan it at an interest rate.
- Sell Advertising Space
- Install a billboard in your vicinity if it faces the main road
- Let-out your car for branding
- Start a Subscription Product or a Service
- A large Instagram’ Channel (below are different types of channels with examples)
- Sell Digital Products on websites like Themeforest
- Online Course: Based on your expertise on platforms like Udemy, Upgrad etc.
- Audio Books:If you have a good voice, you could create an audiobook and resell them create one from scratch
- Stock Music: Stock Music is a good way to generate passive income
- Stock Photos: Shutterstock or other Photo Platforms
- Website themes
- Creative Graphics
- Scripts/Codes/ Web Plugins
- Website themes/templates
- Royalty Income
- Dividend Income
- Interest from Bank Deposits
What are the other Passive Income sources that did not make it to the list?
- Income from winning the lottery
- Gift from friends
- Share Market Investment: I wouldn’t put this in my list as it requires my time investment regularly and the income is not regular & consistent
- Investing in Cryptocurrency: Investing in Bitcoin or other cryptocurrencies is similar to an investment in the stock market.
- Domain Purchase & Sale
So these above passive income sources are curated from at least 20 different websites and organized to bring you steady income.
If you liked this list, tell me what you liked and if I missed any sources, I’d love to hear some from you in the comments.