Are You Earning Passive Income?


Are you interested in making money but don’t particularly want to have to work much harder? Then passive income is for you!  This is basically money that you earn consistently without working too hard or in some cases not doing anything at all. Naturally you would have had to put in most of the hard work right at the beginning, but once you have set up the revenue-earning opportunity, you can literally just sit back and enjoy the fruits of your labor.

The key is to build a capital base first, on which you can then earn the income. We all badly need this now, but be patient; it doesn’t happen overnight; but once you remain consistent, the small trickle starts to turn into a stream. Here are some sources of passive income.

Your Savings Can Earn You Money


If your money is placed in a reputable, regulated financial institution, you can feel confident in the knowledge that your capital is safe and earning you regular interest income. Even though inflation may be eroding your income, it is nice to be earning something on your deposit no matter how little. Putting your hard earned money into a Ponzi Scheme is not saving or investing and will not earn you passive income; it is a scam and you are very likely to lose all your money.



Invest in Property

If you do not yet own property, make this one of your priorities. This is one of the best and most sustainable forms of passive income. It is also a complex asset class so you do need to seek professional advice to help you get it right. As it is capital intensive, you must understand real estate investing, in order to invest in the appropriate property to enjoy passive income. “Buy the best real estate in the best location that you can afford, and then scale up. Just like in Monopoly, no one starts in Ikoyi” says Udo Okonjo; CEO/Vice Chair Fine and Country W.A. Start small, but just start.

Invest in Stock

One of the most common ways of earning passive income is investing in dividend-yielding stocks. Be mindful of the risk and unpredictability component. Remember that the stock market is for long-term investors; in the short time the market can be volatile; this is a fundamental reality of stock market investing. A diversified portfolio of carefully selected blue chip stocks, however, can provide a decent stream of income over the long term and over several years.

READ: The Power of Investment

Write a Good Book


It takes discipline, courage, determination, focus and extreme hard work over a long period of time to craft a good book, stay with it, invest in it and release it. But once it is published, you can earn money from sales both at booksellers and online as well as through an e-book version. Are you an expert in a particular field or just a great writer and been procrastinating on a book project? It is time to get it done.



READ: Are You on Track with Your Goals?

 Are you a talented photographer?

Do you get lots of compliments from family and friends for your great photography skills? There are sites that purchase photographs from amateurs. The same stunning image you captured once, can be paid for over and over again.


Can you start a blog?


There are many ways to monetize your website or blog online. You can generate income from advert placements, sales of your digital products such music or books.

Spend some time building this platform in an area or subject that is of interest and in which you are an expert or an expert commentator. Once you have some great content on your site, people will visit. As the traffic increases companies may wish to advertise on your site and other opportunities are sure to present. This doesn’t happen overnight.  It takes hard work and consistency over a long period.



Create a YouTube Video

Did you know that if you shoot a video for YouTube, and it becomes popular, you can run ads on it to make money? The amount you earn varies depending on the content, the subject, your following etc.



Of course everyone wishes they had a rich relative who makes them a beneficiary of their entire estate. This usually only happens in dreamland or for only very few people. But it is by far the quickest and easiest way to benefit from a passive cash windfall as the beneficiary does not have to create the initial capital needed to generate the income stream. But for many that do inherit without being prepared to manage large sums of money, a windfall can become a pitfall.

For most people, the prospect of inheriting a fortune or winning the lottery is minuscule. But with clear goals and careful saving and investing with discipline and consistency over time, you can amass a decent amount of money through which you can generate solid streams of income.


What are your prospects of earning passive income? If you haven’t got any and are totally dependent on only one source of income, you really need to start doing something about this without jeopardizing your day job through a conflict of interest. The key is to build multiple streams of income.



 Nimi Akinkugbe has extensive experience in private wealth management. She seeks to empower people regarding their finances and offers frank, practical insights to create a greater awareness and understanding of personal finance.


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