2024 Passive Income Guide: Can 5 Types of Passive Income Really Replace a Job?

There are two ways to make money - the hard-earned salary and passive income that comes in even while you sleep. Want a raise this year? Why not explore these 5 channels:

Dividend stocks + REITs are the foundation. Serious companies distribute dividends regularly; as long as you buy in, you can just wait for the money. REITs are even better; they manage the properties for you, and you receive rental income without doing anything. Both of these are types that “grow more the longer you hold them.”

Digital products are the new trend. Write an eBook, record a course, take some stock photos, put in the effort upfront and let it sell automatically later. Some people make $5,000 a month from this, spending only 10 hours a year. The key is the one-time investment and repeated returns.

Reselling second-hand items can also make money. Generation Z is crazily shopping on second-hand platforms, and you can turn around and clean out your closet to earn extra cash. No inventory pressure, flexible timing, a paradise for side hustles.

Print-on-demand products have a low entry barrier. There's a guy named Ryan Hogue who started designing T-shirts from scratch with no money and later earned enough to quit his job. Platforms like Amazon Merch, Etsy, and Printful handle automatic printing and shipping; you just focus on making profits. The startup cost is basically zero.

The key is: all of this requires groundwork in advance, but once it gets going, you can really start earning effortlessly.