Last Updated on February 22, 2023 by Gagan Dias
What are the Passive Income Sources for Writers Who Want to Work Less?
I don’t think that’s a writer question, I think that’s a finance question. But it’s been said, stocks and rental properties are roughly your best bet. The property takes some capital, knowledge and hard work (mostly case-by-case scenario) and stocks take a ridiculous amount of shares to make any funds to live off of in terms of dividends.
But yeah, I think we can all dream of passive income so we can write more. Good question!
There are many online businesses today that can make money within weeks. Anyone can earn a full-time or part-time passive income. Affiliate marketing is the number one and most popular method of passive income among beginners. Not only that but the most reliable, easy, and fastest way to earn a full-time income.
You can easily join various affiliate networks that suit your niche and continue to write articles for it. If you start your site with your name/not a name related to your niche you can write about a larger category area and join different types of affiliate networks and you don’t have to limit yourself to your niche.
By “who wants to work less” do you mean wanting to work fewer hours in a workplace job? Because that I’d get, but there are no easy/passive ways to make money as a writer. It all requires hard work.
Affiliate marketing. Not exactly passive though, more of ‘semi-passive’. Still need to put in the work. but it pays off in the long run.
Buy stocks oil stock is really good right now, also I hear they discovered an oil deposit that is huge in Egypt while discovering that new queen sarcophagus. It literally bubbled up from the dig there is going to be a massive spike in oil stocks and gas prices may finally drop by oil stock now.
The Step-by-Step Process To Passive Income For Writers
Freelance writing plus, I clean vacation rentals and do property management privately. I have to save through the summer for winter, but I pretty much have all winter off. And during summer I have Monday through Friday pretty much for me.
Writing and publishing are pretty much as passive as you can get as long as you get royalties in perpetuum. Running an affiliate/ad blog could work too if you learn SEO and digital marketing along the way. All these passive ideas require a heck of a lot of active effort, to begin with, though.
If you are looking to make fast money, writing may not be the way to go for you. Consider the rental property. Owning parking spaces in large cities with high demand for parking can also be an option. Look for boring investments like that. Generally, the more sexy an investment, the riskier it will prove to be in the long term.
Beta reading actually works, generally unpaid. They are looking for money without doing work.
It’s a great way to make money for authors who are too busy or not available to read in return. Normally pay about $40 per read.
The OP can find reading opportunities on Fiverr or Upwork.