Monetary planners keep the dominance of their buyers in proportion to the passive source of revenue assets.

Thank you for reading this post, don't forget to subscribe!

<

div>

Paid Non-Subscriber Promotions: Affiliate hyperlinks to products contained on this web page are from partners who compensate us (see our Advertiser Disclosure along with a checklist of our partners for additional key points). Still, our criticisms are our own. See how much we need to create an investment product in order to write unbiased product reviews.

• Financial planners say that real estate is a great source of passive income for their clients.
• However, in addition to this, they also see virtual products, blogs, podcasts, and YouTube channels making money.
• Dividend investing is a traditional way of earning passive income that also works well for buyers.

Earning passive income isn’t always as easy as it sounds – it takes years and years to make money, and profits don’t come overnight. However financial planners say it is possible – and a profitable endeavor.

To find out how families are earning passive income, Trade Insider requested several financial advisors to share their clients’ official passive-income assets.

Here’s what he said.

1. Space Hacking and Real Assets

Brent Weiss, financial planner and co-founder of Side Wealth, said he’s seen a significant selection of his clients turn to real estate, specifically space hacking, to generate passive income.

Space hacking, or buying a home for the purpose of renting out a room or independent unit within the home, is an easy way to invest in real property.

In terms of passive revenue, “the No. 1 thing we all talk about is real estate,” Weiss said. “But when I talk to my clients about real estate and what it takes to make it happen, they sometimes reconsider their overall goals.”

Often, investing in real property can require the next insurmountable cost compared to buying your home, other than some additional tasks to manage tenants.

Space hacking reduces the troubles of people’s life and also generates revenue. “Probably half of my clients are thinking differently about real estate now,” he said. “Suddenly they’re paying off half their mortgage and generating extra income for their family.”

2. Investing dividends

With a certain number of shares of stock, corporations trade for profit to traders, each cent earning a periodic amount of money. While this probably won’t be revenue per month, dividends can actually be passive revenue as well.

“Dividend income is definitely a major source of passive income that many of my clients have,” said Akiva Ellis, monetary planner and founder of The Bemused. She may see it among her top net worth clients, but she said it’s growing in popularity with her younger clients as well.

“Of course, there is appreciation and capital gains that everyone is familiar with. But choosing companies that also pay dividends to their shareholders on a regular basis is another part of the entire investment portfolio where you are able to get income from it as well. “Hee,” she said.

3. YouTube Channels, Podcasts, Web Sites and Apps

In addition to real estate and dividend investing, Andrew Westlin, senior financial planner at Betterment, noticed another development among his clients.

“Passive income sources like podcasts, websites, apps, YouTube channels that generate income from ads — these are really the common sources of passive income that I’ve seen,” he told Trade Insider.

While most of these passive revenues may be more inconsistent and time-intensive than alternative forms, they are increasingly relaxing.

“What’s really amazing is that customers, friends and family members have taken these ideas, which they spend so much of their time on, and turned it into a source of income,” he said.

4. Developing Virtual Goods in Online Market

Ellis said virtual products are a familiar way his recently observed buyers earn passive income.

“You see a lot of people these days starting new business ventures where they are selling digital products or information products,” he said.

In most cases, it is made of items available in the online market. “I see people creating digital products. Whether it’s a printable product that they sell online, or a worksheet, or a guide, or an eBook or an online course, those are the types of things that people Can set up once, and requires little to no maintenance.”

This newsletter was first published in June 2021.

                    <section class="post-authors" data-component-type="post-author">
                                <div class="post-author">
                                    <a id="post-author_profile-link" href="https://www.businessinsider.com/author/liz-knueven" target="_blank" data-analytics-product-module="author-bio" rel="noopener">   
                                                <div class="author-profile-image-wrapper" data-slug="liz-knueven">
                                                    <div class="lazy-holder author-profile-image">





                                                  <img class="lazy-image author-profile-image" viewbox="0 0 1 1" src="https://i.insider.com/5d2ce42ea17d6c5b4224de98?crop=1:1&width=256&format=jpeg&auto=webp" alt="<span>Liz was a personal finance reporter at Insider.  </span> <span>Before joining Insider, he wrote about financial and automotive topics as a freelancer for brands like LendingTree and Credit Karma.  </span> <span>She earned a bachelor's degree in writing from Savannah College of Art and Design.  She lives and works in Cincinnati, Ohio.  him on twitter <a href= पर खोजें&quot;https://twitter.com/lizknueven">@lizknueven</a>,</span>,

                                                  <noscript>
                                                      <img src="https://i.insider.com/5d2ce42ea17d6c5b4224de98?crop=1:1&width=256&format=jpeg&auto=webp"/>
                                                  </noscript>

                                                  </div>  </div>
                                    </a>
                                    <div class="post-author_info">
                                        <div class="post-author_top">

                                                <p>Liz Nueven

                                            non-public finance reporter
                                        </div>

                                    </div>
                                </div>
                    </section>  



                    <div class="featured-products sticky-featured-product">
                      <span class="headline-bold featured-products-heading">supremacy deals with our peers</span>

                        <div class="featured-product">

                                  <div class="lazy-holder lazy-holder  " style="padding-top: calc(100% * 95 / 149)">


                                <img class="lazy-image " viewbox="0 0 1 1" src="https://i.insider.com/6490507220f78100189fec2c" alt=""/>

                                <noscript>
                                    <img src="https://i.insider.com/6490507220f78100189fec2c"/>
                                </noscript>

                                </div>      




                        </div>
                    </div>
                  </div><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script><script>window.allScripts = window.allScripts || (); window.allScripts.push({ type: "load", script: "%3Cscript%20id%3D%22meta-pixel-script%22%3E(()%3D%3E%7Bvar%20e%3D%7B69531%3A()%3D%3E%7Bvar%20e%2Ct%2Cr%2Cn%2Co%2Ca%3Bfunction%20i()%7Bwindow.Fenrir.cm.ccpaApplies%26%26%22ACCEPT%22%3D%3D%3Dwindow.Fenrir.cm.userConsent.OPT_OUT%3Ffbq(%22dataProcessingOptions%22%2C%5B%22LDU%22%5D%2C0%2C0)%3Afbq(%22dataProcessingOptions%22%2C%5B%5D)%2Cfbq(%22init%22%2C%221988166924554892%22)%2Cfbq(%22track%22%2C%22PageView%22)%7De%3Dwindow%2Ct%3Ddocument%2Cr%3D%22script%22%2Ce.fbq%7C%7C(n%3De.fbq%3Dfunction()%7Bn.callMethod%3Fn.callMethod.apply(n%2Carguments)%3An.queue.push(arguments)%7D%2Ce._fbq%7C%7C(e._fbq%3Dn)%2Cn.push%3Dn%2Cn.loaded%3D!0%2Cn.version%3D%222.0%22%2Cn.queue%3D%5B%5D%2C(o%3Dt.createElement(r)).async%3D!0%2Co.src%3D%22https%3A%2F%2Fconnect.facebook.net%2Fen_US%2Ffbevents.js%22%2C(a%3Dt.getElementsByTagName(r)%5B0%5D).parentNode.insertBefore(o%2Ca))%2Cwindow.Fenrir.cm.cmStarted%3Fi()%3AsetTimeout(i%2C1e3)%7D%7D%2Ct%3D%7B%7D%3Bfunction%20r(n)%7Bvar%20o%3Dt%5Bn%5D%3Bif(void%200!%3D%3Do)return%20o.exports%3Bvar%20a%3Dt%5Bn%5D%3D%7Bexports%3A%7B%7D%7D%3Breturn%20e%5Bn%5D(a%2Ca.exports%2Cr)%2Ca.exports%7Dr.m%3De%2Cr.c%3Dt%2Cr.o%3D(e%2Ct)%3D%3EObject.prototype.hasOwnProperty.call(e%2Ct)%2C(()%3D%3E%7Br.S%3D%7B%7D%3Bvar%20e%3D%7B%7D%2Ct%3D%7B%7D%3Br.I%3D(n%2Co)%3D%3E%7Bo%7C%7C(o%3D%5B%5D)%3Bvar%20a%3Dt%5Bn%5D%3Bif(a%7C%7C(a%3Dt%5Bn%5D%3D%7B%7D)%2C!(o.indexOf(a)%3E%3D0))%7Bif(o.push(a)%2Ce%5Bn%5D)return%20e%5Bn%5D%3Br.o(r.S%2Cn)%7C%7C(r.S%5Bn%5D%3D%7B%7D)%3Br.S%5Bn%5D%3Bvar%20i%3D%5B%5D%3Breturn%20i.length%3Fe%5Bn%5D%3DPromise.all(i).then((()%3D%3Ee%5Bn%5D%3D1))%3Ae%5Bn%5D%3D1%7D%7D%7D)()%3Br(69531)%7D)()%3B%3C%2Fscript%3E" });</script>