Starting an online business, investing in stocks and doing some side hustles are the best ways to earn passive income. I have carefully researched and curated the top 50 income streams while working full time. Most of these smart passive income ideas are easy to start and maintain, which should give you more freedom and allow you to perform at your best at your 9 to 5-job.
Having a full time job does not always guarantee financial security. This is why successful financial experts, Dave Ramsey and Erin Lowry, recommend having multiple sources of income. This will give you more stability and avoid financial hiccups in the long run. Let’s establish stability and achieve financial freedom with these passive income ideas!
Local lead generation remains the top pick for a lucrative passive income stream. This business model requires just a few bucks to start up. The goal is to generate leads for your clients through a results-driven website. It’s like digital real estate for local businesses, where you earn a percentage or commission for every lead generated by your clients. And once you have established the key metrics, it’s a surefire to generate a steady income.
Best Ways to Make Money Online
1. Start a Local Lead Generation Business.
Pros
Low startup costs
Scalable business model
High-profit margins
Flexibility (you can start at home or work anywhere)
High demand
Rewarding work
Fast results and ROI can happen quickly
Cons
Competitive market
Constantly evolving marketing techniques
Reliance on third-party platforms
Estimate Startup Cost:
$500 to $1,000 (for building and ranking a website)
Earning Potential:
85% to 95% profit margin
Moneymaking Score:
What You Need in Local Lead Generation:
Local Lead Generation Facts and Statistics
Overall, local lead generation is a smart passive income idea. It’s a low-risk-high-return investment with great potential to earn extra money. That’s why many entrepreneurs today are now investing in this business model. However, keep in mind that this is a competitive market. You also need to be consistent with your marketing strategies to stay on top and deliver the best results for your clients.
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2. Become an Amazon FBA Seller.
Pros
Popular e-commerce platform
Access to Prime Customers (wider network of potential customers)
Easy to set up and sell products
Improved visibility and sales
Faster shipping process
Brand recognition and customer trust
Multi-channel integration
Cons
Reduced profits due to increasing fees
Competitive market
Risks for delayed shipments and damaged products
Complex regulations
Limited branding opportunities
Estimate Startup Cost:
$3,500 to $5,500 (depending on the products)
Earning Potential:
According to JungleScout, 50% of Amazon sellers earn anywhere around $1,000 to $25,000 per month.
Moneymaking Score:
What You Need in Amazon FBA:
Amazon FBA Facts and Statistics
Becoming an Amazon FBA seller is another good passive income source while working full time. This platform presents many great opportunities to earn more money. But unlike local lead generation, Amazon FBA may require more resources and legwork to get you up and running. Finding profitable products is just the first step. Amazon’s marketplace is already over-saturated. That means you need more results-driven strategies to stay on top of the competition.
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3. Try Affiliate Marketing.
Pros
Minimal investment
Easy to start
Great potential money growth
Flexibility
Market-ready audience
Extensive products and marketplace
Cons
Commission-based payment
Requires more time and work to generate ROI
No control over the competition
Uncertainty
Competitive industry
Working as a third-party
Estimate Startup Cost:
$500 to $2,000
Earning Potential:
Beginners could make as much as $1,000 per month
Moneymaking Score:
What You Need in Affiliate Marketing:
Affiliate Marketing Facts and Statistics
Affiliate marketing can be a lucrative investment. However, this business model usually takes time and resources to really provide you with a steady cash flow. Be sure to do your research before joining the bandwagon! It’s an easy road to success, but this can also be a good passive income stream with the right metrics.
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4. Create and Sell Online Courses.
Pros
Flexibility
Scalability
Wide market
Cons
Competitive market
Requires technical skills (video editing, online platform management, etc.)
It can be a time-consuming project
Limited personal interaction
Startup costs can be expensive
Estimate Startup Cost:
$5,000
Earning Potential:
On average, successful course creators earn anywhere between $1,000 to $10,000 per month
Moneymaking Score:
What You Need to Create and Sell Online Courses:
Online Courses Facts and Statistics
Creating and selling online courses is another good way to earn extra money while working full time. You can work on the course project at your own pace, with no pressure. After launching the course and a few marketing tricks, this can be an excellent passive income stream. A great example of this is Oz Konar's Business Lending Blueprint. He offers multiple programs besides this main course. You can also do the same and create sub-programs or related courses.
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5. Start a Dropshipping Business.
Pros
Low startup costs
Easy to start
Flexibility
Wide selection of products
Cons
Lack of control over inventory
Shipping and handling issues
Competitive market
Estimate Startup Cost:
$100 to $500
Earning Potential:
Profit margin can range from 10% to 45%
Moneymaking Score:
What You Need in Dropshipping:
Dropshipping Facts and Statistics
Generating passive income with dropshipping is possible, even if you’re working full time. The key here is to find the best ways to automate the process. Many successful dropshippers today earn around $1,000 to $3,000 monthly. Overall, this business model is ideal for diversifying your passive income streams.
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6. Create and Sell eBooks.
Pros
Low overhead costs
Wider reach
Flexibility
High-profit margin
Cons
Competitive market
Risks of piracy
Technical issues
Estimate Startup Cost:
$125 to $200
Earning Potential:
For Kindle/eBook, the royalty rate can range from 35% to 70%. Audiobook royalty ranges from 20% to 40%
Moneymaking Score:
What You Need to Create and Sell eBooks:
eBooks Facts and Statistics
Starting an E-Book business is a great way to diversify your income source while working full time. Like creating and selling online courses, you can also work or finish your product at your own pace. According to Simon Høiberg, he made $7,500 in one week by selling his E-book. He also emphasized the importance of having a solid marketing strategy to be successful in this industry.
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7. Start a Podcast.
Pros
Potential for high revenue
Low startup costs
Easy to start
Flexibility
Niche audiences
Creative expression
Cons
Overcrowded market
Requires time and effort
Unpredictable income
Limited monetization options
Estimate Startup Cost:
$350 - $400
Earning Potential:
Profit margin can range from 10% to 30%
Moneymaking Score:
What You Need to Start a Podcast:
Podcast Facts and Statistics
Podcasting is another good way to earn extra money while working full time. You can monetize your content through sponsorships, affiliate marketing or use it as a platform to sell your merchandise. However, keep in mind that it may take some time to have a sizable audience or establish authority in your niche.
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8. Create a YouTube Channel.
Pros
Multiple ways to earn money (YouTube Partner Program, sell your own mech, sponsorships, affiliate marketing, crowdfunding, etc.)
Flexibility
Opportunity for creative expression
Flexibility (you can start at home or work anywhere)
Minimal investment
Potential high revenue
Cons
High competition
Producing YouTube content can be time-consuming
Usually takes time to grow and establish your audience
Estimate Startup Cost:
$250 to $500 for the equipment and some basic software
Earning Potential:
Monetized YouTube channels make $18 per 1,000 views.
Moneymaking Score:
What You Need to Start a YouTube Channel:
YouTube Facts and Statistics
YouTube is one of the biggest moneymaking platforms today. You can also start this gig while working full time. Creating a YouTube automation channel is an excellent way to execute this. Bright Side, one of the most popular YouTube channels today, uses this tool and now earns an estimated $4.9 million yearly. With a successful YouTube channel, you can definitely create a good passive income stream. However, it usually takes time to generate income from this platform. Apart from creating high-quality content, you also need innovative strategies to build your audience.
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9. Create and Sell Templates Online.
Pros
Lower production costs
Easier to distribute
High-profit margins
Scalability
Low risk
Cons
Competitive market
Intellectual property concerns
Technical difficulties
Limited appeal (some consumers still prefer buying physical products)
Estimate Startup Cost:
$10 to $20 (for basic designing software)
Earning Potential:
On average, template creators' monthly earnings can range from $500 to $1,500
Moneymaking Score:
What You Need to Create and Sell Templates Online:
Selling templates is another opportunity to create passive income. You can also do this gig while working full time. Of course, you still need to work on your product and marketing. But once you’ve established the groundwork, you can start earning passive income without too much ongoing effort.
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10. Buy and Sell Domain Names or Domain Flipping.
Pros
Potential for high returns
Low startup costs
Flexibility
Easy to start
Cons
High risk
Competition
Fluctuating market
Legal issues (copyright infringement and trade mark issues)
It can be a long game
Estimate Startup Cost:
$10 to $100
Earning Potential:
On average, successful domain resellers make anywhere around $300 to $1,500 monthly.
Moneymaking Score:
What You Need to Buy and Sell Domain Names:
Domain Flipping Facts and Statistics
Domain flipping is something you can also do while working full time. It doesn’t really require too much work or resources. The biggest challenge here is to find valuable domains you can buy and sell. But once you have the key metrics, it can be a great passive income strategy.
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11. Make Money with Print-On-Demand Sites.
Pros
No signup fee