This Is An Easy Way To Make Passive Income, But…
A few weeks ago, as I was brainstorming YouTube video ideas, I decided to make one about the “easiest” way to earn passive income.
Off the top of my head, I wasn’t sure exactly which option was easiest, but I figured I’d think about it later and make a video about whichever passive income strategy required the least work.
When planning day came, I sat down and made a list of all the passive income strategies I could think of:
- real estate
- stock investing
- earning dividends
- renting out unused space
- etc, etc.
As I looked at the list I’d come up with, I considered how much effort each would take — and how much income each one would earn.
And what I quickly realized was… the “easiest” option was NOT the option I would recommend that most people use.
Why? Because earning passive income (or anything, really) either requires an initial investment of money, time, or effort.
And while the easiest option is certainly easy…
it’s also expensive.
And, maybe even more importantly… it’s not very profitable.
In fact, the very easiest option — putting your money into a “high-yield” savings account — only earns about 2.5% APR.
Which was later pointed out to me, is worse than inflation, which means you’re actually losing money.
This isn’t just a lesson about passive income, though. It’s a life lesson.
Much of the time, the easiest option isn’t best.
Even if it looks like the easiest option moves us towards our goals… it might do so at too great a cost, or simply far too slowly.
Want to find out which passive income strategies I would recommend? That’s what the video ended up being about.
You can click HERE to watch it now, and learn about two far more profitable passive income strategies.
Of course, after you watch, be sure to post a comment and share which passive income option you think is the best opportunity. I look forward to hearing your thoughts!