 5 ways to generate passive income and keep your job Passive income is the regular earnings generated from an enterprise in which the recipient is not actively involved in maintaining it. Unlike active income, which requires the constant impute of time to generate revenues, passive income does not require an individual's time or effort. I mean, from the name, anyone can predict that it is income generated passively, but their time isn't actively traded for money. Think of property rental, investments, stocks, and bonds, and so on. They are but a few examples of passive income. Generating passive income allows you to gain financial freedom. For instance, according to Robert T. Kiyosaki, he said in a quote, My rich dad taught me to focus on passive income and spend my time acquiring the assets that provide passive or long-term residual income. Passive income from capital gains, dividends, residual income from a business, rental income from a real estate, and royalties. Remember what we said about active income earlier? They require an exchange of time for money. But have you thought about what happens when a person falls ill or gets involved in an accident and can't work? It becomes difficult to earn any income. Little wonder, Warren Buffett said, If you don't find a way to make money while you sleep, you will work until you die. So, in this video, I'll share with you five ways to generate passive income and keep your job. This, I believe, will help you become a successful person. If you're new here, consider subscribing, so that you won't miss other interesting videos like this. 1. Renting property or real estate Thing to note about generating a sizable stream of passive income via any means or channel is that it is expected that one puts in a large amount of work at the front end by investing lots of time or lots of money. To generate passive income via property renting, you need to purchase an income-producing property which can be used for residential, commercial, or industrial purposes. However, in renting your property, ensure that you do so to reliable people to avoid dealing with damages and other unnecessary expenses aside maintenance costs from time to time. John Stuart Mill, an English philosopher and economist, said landlords grow rich in their sleep without working, risking, or economizing. Also, according to Andrew Kinnege, Scottish British men and philanthropist, 90% of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate. 2. Affiliate marketing Affiliate marketing can earn you a decent amount of passive income, especially if you have a great list. Here's how it works. As an affiliate marketer, a business rewards you for every visitor or customer you bring to them based on your marketing effort. So, for instance, say a clock vendor gives you a bunch of clothes to sell. You can market it by writing about them or taking very attractive pictures and posting it on, say, your blog, vlog, YouTube channel, or perhaps your social media page with a link to the business side for people who'd like to purchase any of the items. So, you see, the more people you have on your contact list, the higher your chances of making more money via affiliate marketing. However, building a sizable list takes time and consistency and providing valuable information. Otherwise, you become obsolete. Build a list in a particular niche and tell them stories. Create a bond. Build a relationship with them. It's important. Then, when you've created a bit of culture, start marketing affiliate products or services to them that you think they might like. However, be sure to vet whatever it is that you are selling to avoid complaints from your audience. Otherwise, they won't trust any other recommendations in the future. 3. Blogging Blogging is like creating a traditional TV channel where you produce valuable content to a target audience for free, when you have grown your channel to attract a large audience, you can begin to make money via ads and other forms. For instance, consider Facebook and other social apps. The same business model applies to these various channels. You build an audience and then you start selling to them or helping business owners advertise on your platform. You can also try products and review them on your website. The most important thing is to make sure the contents you offer your users or audience are valuable so they can keep visiting your channel, thereby increasing your traffic and potential sales. Also, note that in creating valuable content on your blog, where the internet is about the availability of information, blogging is about making information creation available to anyone, says George Siemens. 4. Start investing Investment is the number one way that most wealthy people generate passive income, especially if taken advantage of from an early age. For instance, have you considered dividends and stocks? A dividend is a sum of money paid regularly, typically annually by a company to its shareholders out of its profits or reserves. Aya Lariya, a certified investment company representative, a realtor and a writer, said when you invest, you are buying a day that you don't have to work. According to Riki Kessler, an internet marketer and blogger at income school, while talking about the four methods of income generation he has used over the years, he said that, and I quote, I make really good money using these methods but have made and will make a lot more money from investment than all four of the others combined. To start investing, set aside a little bit of money, say $500 or $1,000. Most investment accounts sometimes begin within that range. Then open an account and then make a deposit. Keep putting more money into that account from time to time. You see, the thing about investment is that you have to take advantage of compound interest. Living your investment to accumulate over a long period will accrue a higher interest than when you live it only for a short while. Warren Buffett, an American business magnet, investor and speaker, said, if you aren't thinking about owning a stock for 10 years, don't even think about owning it for 10 minutes. 5. Write an ebook Many successful entrepreneurs write an ebook and earn a passive income by selling it online. You can either sell your ebook directly or on websites of your athletes. You see, when it comes to generating passive income, you might not, as a matter of fact, you will not, start earning as much as you want as quickly as you want to. It takes time to build and put into place whatever business idea or passive income idea you have, whether it's writing an ebook, investing in real estate, building a blog, and the likes. So, good luck, my friend. Thank you very much for watching our video. We'll like to give you another interesting video for you to enjoy next. But before then, our team will be very happy if you can like this video and share it with your friends on social media. If you're new here, don't forget to subscribe so you won't miss other interesting videos like this. Look at your screen now to see two other videos we handpicked for you to enjoy next. We love you.