How To Make 60k A Year Passive Income

A few years ago, most people could not imagine making more than $1,000 per month (or just under 6,000 per year) online. Now, with all the gurus advertising their products as an “excellent way to make money” or “I will pay you monthly income” of around $6,000 per year, it is virtually impossible for average people to differentiate between hype and legitimate opportunities.

In fact, many individuals have given up and stopped trying to earn extra income because they feel that everything promises lots of cash without any proof to back it up. It is hard to find straightforward ways to make solid amounts of revenue unless you are very skilled in marketing or have access to well-paying part time jobs.

Fortunately, there are several simple strategies that can be implemented into your business model to produce substantial profits. In this article, we will go over some easy ways to begin earning passive income.

Buy and sell products

A great way to make extra money is to start buying and selling products online. There are several ways to do this, and you can even turn it into your main income source. By investing in some of the tools and resources needed for online shopping, you will find yourself making passive income.

There are many ways to make money online by buying and selling products. You can pick and choose which one works best for you depending on what kind of products you want to buy and sell and how much time you have to invest in each activity.

Some people begin by doing dropshipping or site-based sales, where they create an account with a supplier and then they handle all of the logistics and marketing themselves. This is more suitable if you don’t really have time to be involved in the process of getting the product prepared and shipped, as well as designing and creating your own website and marketing materials.

Other individuals begin their journey into drop shipping by buying a few items from within the company that they wish to promote, before expanding to their own business.

Start a YouTube channel

how to make 60k a year passive income

Starting your own business is always a great way to make some extra money. Creating and hosting a video that appeals to your audience and then bringing in revenue through advertising, sponsorships, or sales is a wonderful way to make it big time as a YouTuber.

There are lots of ways to start your career as a youger! What makes the best YOUTUBERS is who they are as people first before they become famous. They’re real people with real lives like everyone else, just with more exposure.

Their personal stories help connect with their followers and give them inspiration to pursue similar dreams. Their style and charisma sell themselves, making them memorable voices for their viewers.

Making a living from creating and sharing videos takes dedication and effort to succeed, but there are many strategies and tactics to do so. One of the most important things to know about starting a YouTube channel is how to market yourself.

Start a podcast

how to make 60k a year passive income

Starting your own business is always a great way to make money. But creating a successful podcast isn’t easy, nor does it come with an automatic payout. It takes work, investment, and leadership skills to be successful.

But you are not trying to go this route if you aren’t committed to making it succeed. You can easily start listening to the most popular podcasts and getting some ideas, but investing in quality equipment and developing your voice is a must.

There are many ways to make money online by offering or buying products or services and latching onto an income source that fits you. A well-paying side hustle is looking like a perfect fit for your lifestyle at present.

Start a business

how to make 60k a year passive income

Starting your own business is one of the best ways to make big money. There are countless opportunities out there for you to create your own business or take over an existing business to make profits.

The easiest way to start a business is by buying something that people already use, making it new again or improving on it. This is called Product Re-Introductions.

For example, if you have a boat, then you can sell flotation devices to help other boats float. Or if you’re good at sewing, you could re-design durable clothing that people currently cannot afford but want.

There are no rules about what type of business you can launch into this approach. All you need to do is determine if there is a market for your product and if you have a product, then you have a platform to begin advertising yourself and your products.

Businesses will always be in demand so never feel like you can’t start up because you think there are too many others like yours already exist.

Invest your money

how to make 60k a year passive income

A large part of making good income is investing your money in productive assets or properties. This can be done through direct investment, indirect investment, or real estate investments. Direct investments are anything you buy directly from an investor or company, like buying a car directly from someone. Indirectly, this includes things such as donating to charities or foundations that use their resources to help others. For those who want to continue advancing their business career, investing in a franchise or small business opportunity is great way to start off.

Real estate is one of the most efficient ways to invest money. You can either own a property yourself and rent it out or hire a professional Realtor to do it for you. Either way, investing in real estate comes with many benefits. Not only does it make excellent income, but it also generates passive income!

Words: 420

Budget: $6,000 - $12,000 per year

Target rate: 6% return per month (1-2% per day)

Duration: 1–5 years

Timing: At any stage can work

Now let’s get into some strategies for how to make 60,000 a year passive income.

Tips for starting a business

how to make 60k a year passive income

Starting your own business can be expensive! There are lots of costs involved in running a business, not just investment in materials or fees, but also marketing, office supplies, website design, and more.

All of these things cost money, which makes it hard to start with no savings. It is important to have a little bit saved up before you launch, so that you do not need to spend too much time promoting your business while still paying bills.

Another way to avoid having to invest heavily early on is by investing in a pre-made product or service that other people use to make profits. By buying their products or services, you get to keep the price low, especially if you sell a large quantity!

This article will go into detail about some ways to begin making extra income as a entrepreneur.

Tips for investing your money

how to make 60k a year passive income

Investing is one of the most important things you can do with your wealth. Most people start investing at the very least by buying stocks, but that’s only half of what you should be doing.

The other part is how much you should invest into each field! For example, there are different ways to invest in stock up until a certain price, or as common term – ‘share buybacks’ where companies spend their profits on buying back their own shares, increasing the value of yours.

And then there are investment products like index funds which track an index (like the S&P 500) of major assets, so you just get a nice tidy return overall without having to pick and choose individual investments.

There are many types of investment product, and it depends on your goals what is best for you. But whatever type of investor you want to become, here are some tips to learn the basics of investing.

Take control of your life

how to make 60k a year passive income

A few years ago, most people were not able to make a living solely through their own efforts. This is no longer the case! With technology making our lives easier and faster every day, it’s possible to earn enough money online to satisfy your financial needs.

There are several ways you can turn your internet-connected device into an income source. You can start with the easy things like selling items online or taking up freelance writing and business consulting.

From there, you could move onto more advanced strategies like starting an eCommerce store or developing digital products. All of these opportunities exist for you if you are willing to put in the effort to learn them.

If you want to know how to make sixty thousand dollars a year passive income, then you have to be willing to work hard to achieve that goal.

About The Author

Tiara Ogabang
Tiara Joan Ogabang is a talented content writer and marketing expert, currently working for the innovative company With a passion for writing and a keen eye for detail, Tiara has quickly become an integral part of the team, helping to drive engagement and build brand awareness through her creative and engaging content.
Juice Beta is ending July 1st! Subscribe before end of month to lock in Juice Plus for 50% off!
$49 $25
Sign up now
Juice Beta is ending soon! Subscribe now to lock in Juice Plus for $49 $25
Sign up now