Generating a stream of passive income has become a great interest for some people. Whether you are a busy stay-at-home parent with limited time to work a part or full-time job, a person looking for a side hustle to combat the rising inflation prices, or a college student with a large course load demanding all your attention and could use some extra cash on the side, investing in a passive income could be a solution for you. 

What is Passive Income?

Passive income is income from a source other than an employer or contractor according to the Internal Revenue Service (IRS). It can include earnings derived from a rental property, limited partnership, or other enterprise in which a person is not actively involved.

Affiliate Marketing Income

In modern digital marketing, affiliate marketing allows website owners to promote and advertise a third party’s products and services. Amazon implemented this tactic by creating an affiliate marketing program whereby websites and bloggers put links to the Amazon page for a reviewed or discussed product to receive advertising fees when a purchase is made. However, it is a lengthy process that requires you to create content and build traffic.

Rental Income

A common way of earning income passively is investing, owning, and renting out property. It is more of a risky route to take because it requires a hefty investment and the economy is constantly changing. Tenants may not be able to pay for their rent and you will be forced to cover it. Or you may have to lower your rates as income decreases.

Income Through Selling Stock Images

If you have a decent camera and basic photography skills you can take stock photos and sell them online. Companies, designers, teachers, and so many more organizations and people need stock photography. Pictures of people of all ages and backgrounds sell very well in addition to nature, cities, and food. You can sell your photos on your site, Adobe Stock, Shutterstock, Etsy and so many other places online.

Unfortunately, it is difficult to start since a camera is required for purchase, and renting out space may be required, or at least some traveling since international photos are in high demand. The business is highly competitive and you most likely won’t earn very much when you first start.

Ice Vending Profits

A not-so-common way of earning passive income is buying an ice vending machine and selling ice. Ice vending is a unique business model that allows you to own your own business, make passive income with little to no training, not require keeping stock or inventory, require no technical expertise, and have a relatively low capital with a very high return on investment. 

Everest Ice and Vending machines are built with a single moving part dispensing system that requires very little maintenance. The vending machines are only 20 square feet, which makes finding a location and relocating very easy compared to other vending machines. The installation is so easy, that you can have your machine making and selling ice the same day it is delivered.

These are only a few of the many, many ways of investing money in yourself to generate a passive income. As you can tell, “passive” income does not necessarily mean “easy” income. It requires a good amount of work and money in the beginning before you can generate a regular income.

Out of all of these ideas, Everest Ice and Water Machines have a relatively low capital investment with a very high return on investment. These are important factors to consider when finding your perfect route for finding your financial freedom through earning money passively.