Are you a young adult looking to make additional income? Creating additional income doesn’t have to mean finding a higher-paying job or taking on a lot of additional work. Here are 12 passive income ideas for young adults.
1. Create and Sell Digital Products
If you have a skill that can be monetized, consider creating and selling digital products like a course or downloadable material. While this requires work upfront, your digital products will continue to generate revenue passively.
2. NFTs & Digital Art
Did you know that you can create your own NFT? This is a great way to create passive income for young adults. There are several steps you’ll need to take to create your NFT. After you mint your NFT and sell it at auction, see your profits grow.
3. Real Estate Crowdfunding
Have you heard of crowdfunded real estate? If you don’t have enough capital to purchase an investment property, crowdfunded real estate may be a good passive income stream for you. Crowdfunded real estate pools funds together to let average investors participate in the real estate market through private real estate investment trusts.
4. Purchase a Billboard
Did you know that you could purchase a billboard and rent out the advertising space? While the initial investment of buying a billboard can be high depending on the location, it can be a source of passive income for years to come. If you don’t have the funds to purchase a billboard, you can even rent out advertising space on your car!
5. License Photos or Music
If you have any photography or musical talent, licensing your art is the perfect passive income for young adults. You can sell stock images or audio files on Shutterstock or Epidemic Sound.
6. Fine Art Investing
You can purchase your own artwork and see its value increase. But, you can also buy fractional shares in paintings by the top-selling artists of all time like Basquiat, Banksy, and Picasso using platforms like Masterworks.
7. Wine and Whiskey Investment
If you’re a lover of wine or whiskey, why not turn your passion into profits? You may not know where to start, so look into platforms like Vivovest where you can purchase wine and whiskey investments and let the experts handle its care.
8. Self-Publish a Book
Have you always wanted to write a book? Self-publishing a book can be a great way to explore your passion and earn passive income in the future. You can easily publish your book on Amazon and reach millions of readers.
9. Create a Dropshipping Business
You can create a business using platforms like Shopify and not manage any inventory. With a dropshipping business, your customer’s orders get sent to a dropshipping supplier. While your business will require work, it is much less hassle than a traditional online store.
10. Crypto Staking & Yield Farming
What is crypto staking and yield farming? Staking involves locking up your crypto to support a blockchain network and earn passive rewards. This is a relatively low risk and will earn you passive income. Yield farming involves lending or providing liquidity to DeFi platforms to earn rewards. It is riskier than staking but will yield higher rewards.
11. Buy a Vending Machine
With as little as a $2,000 investment, you can get a vending machine business up and running. While managing your vending machine will take some time and effort, it does make for a good side hustle that may have passive potential in the future.
12. Invest in Precious Metals
Investing in gold, silver, platinum, and palladium can diversify your portfolio. Precious metals, especially gold, are known to hold their value and have seen growth in recent years.
Which one of these passive income ideas for young adults resonates with you? Share your thoughts in the comments.
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