Best Ways to Earn Passive Income
Provider Best For Key Benefit Prime Alliance Bank Best Overall Competitive interest rate for any balance Patelco Credit Union Best for Small Balances Higher APY for smaller balances Axos Bank Best for Debit Users Full debit card access with no monthly fees Ally Bank Best for Ultimate Flexibility Access your funds online, through ATM, debit, or Zelle Synchrony Bank Best IRA Options Roll over an existing IRA to an IRA money market account Alternative Passive Income IdeasYou’ll find a laundry list of alternatives to stock, bond, and cash passive income ideas. Some of these choices are more passive than others. Real estate investing is frequently touted as a response to the question, “What is the best way to earn passive income?” But real estate investing takes many forms, and requires varying amounts of effort.
Owning and managing real property requires a chunk of capital and is a passive endeavor until a pipe breaks or the renter doesn’t pay their rent. Then it is a lot of work. Real estate crowdfunding apps or investing in real estate investment trusts (REITs) are more passive. Once you purchase the securities, you wait for the cash flow.
Another popular way to earn passive income online is by creating an affiliate website, but this involves more work than meets the eye. An Airbnb rental is only semi-passive if you hire a team to manage the property. Cash-back credit cards and shopping sites might be considered a passive income idea, yet you’re spending in order to receive the cash. That’s not a net-positive endeavor.
Other alternatives to passive income involve digital property sales, like e-books, courses, apps, and other online goods. For all of these passive income ideas, there is a hefty startup time commitment and some upfront cash as well. You’re also less certain of receiving a return on your investment if the sales miss expectations. Evaluate these alternatives to passive income to learn whether there's a strategy for you.
A real estate investment trust or REIT is an investment vehicle that owns a pool of commercial real estate. There are REITs that provide broad diversification across the real estate landscape. Or you can buy niche REITs that own senior housing, student housing, warehouses, commercial property, mortgages, shopping malls, data centers or many other varieties of property. The benefit of REITs for cash flow is that they are required by law to pay out 90% of their taxable income to shareholders.
Peer-to-Peer LendingDebt investing is popular, with many platforms that enable everyday investors to be the bank and lend money to others. Peer-to-peer lending offers various types of loans for various reasons. Platforms match borrowers with lenders for various cash needs.
These peer-to-peer lending apps offer higher interest payments than other traditional stock, bond, or cash vehicles. But they are riskier as potential loan payment defaults can eat into your returns. To minimize that risk, you can choose to invest in higher-quality loans and diversify by owning many loans.
Real Estate CrowdfundingReal estate crowdfunding allows investors to finance real estate projects through online platforms with the goal of profiting either from capital appreciation or passive income. There are a range of real estate crowdfunding websites offering small to large investors an entry into commercial, industrial, single-family, and apartment building investing.
Fundrise is our 2024 best real estate crowdfunding website. It provides investment access to real estate and startup venture capital funding with only a $10 minimum.
How To Be a Cam Girl and Make Money Camming Online in 2024
Curious how to side hustle your way into becoming a cam girl online in 2024? The life of a camgirl certainly has its appeal—making a little dough (or much more) from the comfort of your own home and all.
What’s not to love about that idea?
But there’s a lot that goes on for cam girls behind the scenes and we unpack it all in our guide on how to be a cam model in 2024.
We cover all-things camming including advanced marketing tips, brand development, the best cam sites to work for and more. If you’re ready to learn about being a cam girl, we bring the nitty-gritty details to the table in this article.
Our 2024 Guide for Cam Girls
Technical Bits: How To Be a Cam Model
Camming is a bit of a modern marvel, isn’t it? You can make money by doing all that stuff you probably already do in your everyday life. Watch TV, browse social media, chat with friends.
But before you can start cashing in, there are a few technical details that you’ll need to take care of to ensure your foundation is complete.
1. Computer
You’ll definitely need a computer if you don’t already have one. A laptop is ideal, especially if you plan on being mobile. But a desktop will work just fine.
While you could use a smartphone or tablet, it’s not ideal. The screen is too small, and the quality of the camera isn’t as good for producing quality content.
With that said, make sure your device can handle HD video and high-resolution photography. If you’re using a computer, 4GB of RAM is the bare minimum; otherwise, you’ll be stuck waiting for your computer to catch up every time you try to open a new window.
2. Webcam
There are two types of webcams: internal and external.
You’ll want to invest in an external HD webcam. These webcams plug into your computer via USB and offer a much higher resolution (minimum 720p) than the standard built-in models.
There are great external HD webcams starting around $30, but your computer will need an appropriate USB port in order to be compatible.
3. Microphone
You might be able to get away without a microphone if you’re just starting out. But if you want to be successful, you’ll need to invest in a good quality mic. Your viewers will appreciate it, and you’ll sound more professional during your webcam shows.
Just make sure to get a USB microphone so that it plugs directly into your computer. You can expect to spend between $40 and $120 on a quality USB mic, but you should be able to recoup the cost quickly.
4. Internet Connection
Live streaming is a data-intensive activity, so you’ll definitely need a stable internet connection to avoid any loading issues or interruptions in your broadcast.
The minimum internet speed you should have for HD video is 10Mbps. But for the best quality, aim for 25Mbps or more.
Pro tip: When in doubt, test your speed with an online tool like Speedtest.net.
5. Cam Model Account
Now that you’ve got the basics, it’s time to set up your account. Of course, every cam site is different, but the process is pretty similar across the platforms.
You’ll need to create an account and fill out some basic information about yourself including age verification to make sure you’re legal (18 years +). This is for your safety and the safety of the site and its members.
We definitely don’t condone illegal camming.
Be sure to use a unique username and password that you haven’t used for anything else.
6. Payment Method
You’re here to get paid, right? So you’ll need a way to receive your money.
Most cam sites will allow you to cash out via PayPal, direct deposit, or check. Some sites will also allow you to withdraw your earnings through a wire transfer or cryptocurrency.
If you’re just starting out, PayPal is probably the easiest option. But as you start making more money, you might want to look into setting up a direct deposit with your bank.
7. Equipment Extras
Not totally necessary but can improve your camming life:
