How can I make passive income?

Passive income refers to income earned without active involvement or regular effort, such as rental income, dividend income, and royalties. Here are some ways to make passive income:

Rental income: If you own a property or can invest in one, renting it out is a great way to generate passive income.

Dividend stocks: Investing in dividendpaying stocks can provide a steady stream of passive income.

Peertopeer lending: You can invest in peertopeer lending platforms to earn passive income by lending money to others and earning interest on it.

Create digital products: Creating digital products like ebooks, courses, or software and selling them online can be a good source of passive income.

Affiliate marketing: If you have a website or a social media following, you can earn passive income by promoting other people's products and earning a commission on sales.

Rental property: You can purchase and rent out a property, such as a vacation home or storage facility.

Invest in a business: Investing in a business that you believe in can provide passive income through equity or interest payments.

Remember, making passive income typically requires an upfront investment of time or money, but can pay off in the long run if done correctly.