Best Passive Income Ideas for 2023 to Become a CrorePati With Pritam Datta

You probably heard this famous quote of Mr. Warren Buffett “If you don’t find a way to make money while you sleep, you will work until you die.”

Yes, I believe in this quote & today, we are here to discuss Best Passive Income Ideas for 2021 by which you can start earning money even you are sleeping. First, of course, you need to find out the best possible passive income source to generate a passive income. But before going forward, let’s understand the difference between Active Income & Passive Income. And what is the Passive Income Definition? Then, if you want to make investments for one of the passive income sources, you can read our detailed Best Investment Plan in India.

Active Income Vs Passive Income. Which one is best to achieve financial freedom?

Active Income Definition:

Active income is the earning you are generating from all your efforts. And you need to continuously put your efforts to earn money for you & your loved ones. The main drawback of active income is that you don’t get paid if you quit putting in money. Your time equals money. Active Income helps you get Financial Securities, but it isn’t easy to gain financial freedom with just active Income.

An example of Active Income is your 9 to 5 job or running a business in your area like that.

Passive Income Definition

Passive income includes regular earnings from a source other than an employer or contractor, which requires no effort to earn and maintain. Progressive passive income is when the earner puts little effort to grow the revenue. Examples of passive income include rental income, Incomes from the investments you have done or any activities in which the earner does not participate actively &, And the money continues to flow in for years and years.

If you have only active income, maybe you are managing your daily expenses for yourself & your family without any problem. Still, to become a crorepati & achieve financial independence, you should have a good passive income source.

Now you probably understood the Definition of Passive Income, but the main thing is how to find out the best beginner passive income source by which you will make money while you sleep. So, here I have listed the most profitable Passive Income ideas for our readers. Even you are a student, we have shared best passive income ideas for students also. If you are thinking of starting making money with passive income, it also requires proper strategy, Goods Skills, consistency & commitment.

Beginner Passive Income Ideas:

Dropshipping:

You may or may not have heard about dropshipping. If you want to understand the meaning of dropshipping is like doing trading business online. Trading means I don’t mean the stock market trading. Here trading means you buy a product from someone at a price, then add your margin on it & sell the product to others at a high price. And the margin you earn from this process is your profit earning. This is called a physical trading business, but it’s called drop shipping when you do this entire process digitally. Dropshipping is one of the most profitable passive income sources you’ll find online nowadays. With drop shipping, you can find trending products & can sell online to customers around the world by adding some profit to them. You can sell products in various dropshipping niches from fashion to home decor to beauty. In India, one of the best ways to understand & start dropshipping is with Meesho what Meesho is doing a dropshipping business.

Running a Blog – Be a Professional Blogger:

So, if you want to create an online source of your income on a long-term basis & you can start running a blog & can become a professional blogger. The term blogger is sounded soo easy, but actually, it’s not. You need to first learn & then implement your skills in blogging to earn from that.

Skills you need to enter into the blogging world:

In my opinion, the most important thing to start anything is your skillset & your passion. If you don’t have the writing skill set to start anything, then the amount & time you will invest to be successful in blogging may be a waste. In addition to that, If you don’t have the right skillset to start your blog, then that does not mean that you will not be able to enter the blogging world. It would help if you had a passion for learning how to blogging. Anyone can learn anything & develop a new skill set to be successful in life. So, if you think that you have the right skill set or the right passion for learning how to blog, then you are good to go.

1. You should have the knowledge & real interest in the niche of your website or blog. It would also be best to be a good writer or learn how to write an SEO Optimize article that will rank high in search engines.You should know how to do market research for your blog.
2. You should be a person who is always self-motivated & self-disciplined. Don’t just take your blog for granted. Invest your valuable time to be successful.
3. Also, it would help if you learned how to communicate with the community & fellow bloggers.
4. Finally, you should be ready to invest in starting a blog & making it a success.

If you think it is helpful to start blogging now, we have asked some industry professionals How Much Profitable To Start Blogging in 2021?

Best Passive Income Online – How Much Profitable To Start Blogging in 2021?

We are trying to understand the future of the blogging industry & how profitable it to start blogging in 2021. This will help anyone willing to start their career in blogging in the coming years.

This is a topic where everyone has different opinions. Some say that Blogging was easy in the past, but there are a lot of competition in today’s blogging industry & now, advertising is ruling the internet. No SEO strategy helps get organic traffic from search engines. Others say that Blogging is more profitable in the future as everyone is going digital & internet users are increasing day by day. So, in the meantime, Blogging can be more profitable than the previous time.

So, We asked some bloggers about their opinion on the given topic who have min 5 years of experience in this industry & ruling the internet for the last couple of years. So, let’s have a look at what other bloggers think about the above subject.

Santosh Gairola – bloggingcosmos.com said that blogging is one of the most profitable ways to earn passive income online. It provides you with the base to create a community that can work for you like your platform.

By establishing these platforms, you can earn money. Most importantly, there is no limit to making money through blogging. This is one of the good passive income examples for peoples wants to earn from online. Many bloggers are independently making millions through blogging. Many multinational companies who have previously ignored blogging’s power are now starting their blogs from a broader perspective. If you think you possess a creative writing skillset on a particular topic, you can master a few more technical skills like SEO and Marketing. Blogging is your thing. Although blogging is not that hard, you can learn everything gradually. But it certainly requires lots of persistence and talent to earn money from blogging. You will make millions of mistakes in your blogging journey. But if you keep that learning factor within you, blogging will eventually become easy for you. In the estimation that the entire planet will get connected through the internet in the coming years, and business will become easier through it. It means that many opportunities are waiting for bloggers. There is scope for every niche. Therefore, don’t wait for the right time because the best time to start a new blog is now.

Mohammad Sakil Ansari – bepinku.com said that It’s never too late to start Blogging. In short, stop reading this post right now and go and start it. I would say it is the best time to learn and earn through Blogging. The zone of Digital Marketing is also extending like fire after the covid situation. Moreover, when a person starts Blogging, they also slowly start learning various things about the Internet. By the way, everyone knows the future of the Internet. So there’s nothing to worry about.

Nirmal Sarkar – hitricks.com said that it can be YES & NO.

It completely depends on your niche, approach, content, and, finally, SEO! If you are waiting for 2021 to begin and then find a ‘muhurta (an auspicious time to begin sth) for starting blogging, then NO, it will not be profitable for you.

If you are only thinking of ‘profits’ from blogging in the first place, then NO, it will not be profitable for you. It would be best if you got your hands dirty at first, experiment, learn from your experiences, and ameliorate.

When it was easy to rank and bank, the golden era of blogging is now gone, and the old-school SEO methods don’t always work. The increased competition and search engine algorithm updates have only made it tougher for all of us. My only advice to the newbies who want to start blogging in the coming future will be, don’t quit your studies, or your job, for your blogging. Try to start it as a part-time thing and see where you are going. It is good to have multiple sources of income. And try to focus on delivering better content.

Content is the backbone of a blog. It can make or break a blog completely. Don’t compromise on the content. And don’t chase profits right from the beginning. Focus on growing the blog first. Earnings will follow. Thank you. 🙂

Sunita Biddu – sunitabiddu.com said that the Future years are all about information business, and people love blogs they can rely upon. Blogging is not an easy business anymore. But it’s certainly one of the most convenient modes of making money. There are millions of blogs. To make blogging your source of living and income, make sure your blog stands out for three things:

1. Usefulness,
2. Ease of navigation and receiving the information,
3. Optimized well for both readers and search engines.

Lastly, you hear all the time; content is the key to profitable blogging. But picking up the right niche/subject is the key. Content creation is an activity you have to keep doing forever. The more you do, the better you do, the better you promote and advertise, the more money you make. So, begin right with the right niche. See the help of blogging mentors. Be a learner until you’re able to replicate a profitable blog into multiple.

It takes a year to see the outcome or a glimpse of the money. Have patience. Hang on in there.

So, we have understood what top bloggers from the industry think about the future of blogging. Now I am sharing a bit from my experience. Blogging for Beginners – Is it profitable to start Blogging in 2021?

Pritam Datta – SEO.TimesOfIndustry.com & crorepati said that I am in this blogging industry since 2016; I have learned a lot about blogging in these years. So, When I am talking about the future of blogging, then it completely depends on the bloggers. What type of future they want to make in their blogging journey. I always said that Consistency & long-term orientation is the key to success in any industry & blogging is not different from this. Also, please note that Blogging can be one of the best passive income ideas for students.

To be successful in blogging,

You need to understand “why you are blogging or came into this blogging industry. There are a lot of bloggers & Internet marketers out there. They are doing their work to the best of their ability. Then why anyone reads your content? Why Google put your content on the first page of Google search results”.

Just think about it before entering this blogging industry. Do not think about the money. The potential of earning money through blogging is endless. Don’t think about it. Just try to put 10x the best of information available currently on the internet. Nowadays, google algorithms are highly qualified to search out the best articles on the given subject. If you provide information, it will not be so hard to come on the first page of Google & get lots of organic traffic. And you know organic traffic is the best reward you can get as a blogger & internet marketer & money will follow you with the traffic.

Make Money Online Through Blogging – Best Passive Income Source:

We have discussed many things about blogging, but the main part we will discuss right now. Yes, Earn Money through blogging; if we have not discussed these things, How anyone will be motivated to enter this industry. After all, we should have something by which we can spend our life.

So, Money is the Best Motivation for all of us!

Don’t worry about the possibility of making money through blogging. For example, I can mention about ShoutMeLoud’s Income report. Just check it out. You will get your motivation & understand the possibility of earning a insane passive income when you are sleeping.

Various Methods of Earning Money Through Blogging.

1. Showing Adsense or any other ad networks ad to your blog readers. If any of your readers click on the ads, you earn.
2. Affiliate Marketing is also one of the best ways to earn through your blog.
3. When you have established you & your blog as a brand, you can sell your digital products, Ebooks, Merchandise, etc., through your blog.
4. Also, there are endless possibilities of earning through your blog. Just enter into the industry & we will come to know about the processes of making some good passive income through your blog.

Selling online courses:

Selling online courses can be the best profitable passive income stream & passive business ideas for 2021. The reason behind this everyone tends to learn & improve their skillset from their ease of home only. Nowadays, more & more online creators are coming up with their courses & selling courses through online advertisements. Many are doing live online paid seminars also. There are many online tools available for selling online courses. One of the popular tools is Udemy. You can sell your courses on your website also. You can check out the free & paid courses by Ms. Rachana Ranade on her website. When you are selling your courses in your blog, you can take payments from course buyers through Instamojo. It’s a free online tool to receive payments in India.

Instagram Sponsored Posts as a Secondary Income Source:

Social Media is soo much popular nowadays. When we have to know more about any person, the day has come that we normally start searching in different social Media & check their social media activities. Every celebrity is using social media to connect with their fans. If you have good followers on social media, You can get good sponsored posts. Instagram sponsored posts are viral nowadays. If you want to estimate how you can get an Instagram post if you have a good following, then just read go through the Earning Power: Here’s How Much Top Influencers Can Make On Instagram And YouTube.

Passive Income Strategy Through Stock Market Investments:

So, Investment is another one of the smart passive income ideas. In India, more or less everyone invests their money for the future & to make another passive income source. So, not only in stocks but where ever you invest, you can earn something extra. If you want to know the best investment plan for you, you can go through the Best Investment Plan in India for Middle Class with High Returns. Also, by investing in stocks, you can earn a good amount of passive income as a dividend and book some profit if the market goes up. Also, If you can choose & invest in IPO’s, you will gain some extra passive income by IPOs listings gains. So, investing in passive income is famous not only in India but all over the world.

Dividend:

A dividend can be described as a reward that publicly-listed companies extend to their shareholders, and its source is the company’s net profit. Such rewards can either be in the form of cash, cash equivalent, shares, etc. To know more about dividends, you can go through this article.

Profit from Investing in Stocks:

The simple method of booking profits from the stock market is that buy stocks at a lower price & selling stocks at a higher price. And the price difference between buying & selling is your profit. So it’s a Trading business. But it looks like soo easy from earning from the stock market, but in actual it’s not soo easy. Earning from the stock market needs a proper understanding of the market, consistency, knowledge in financing & the most important factor is risk-taking ability.

Investing in IPO’s – Instant Passive Income Source:

IPO’s are also another great option to get some instant passive source of income. If you can choose & apply for IPO’s of reputed profit-making companies & if IPO is allotted to you on listing day with a higher price, you have subscribed for an IPO. This can make a good amount of income through IPO’s.

Buy a property:

So, buying the property also comes under one more famous investment strategy to make a good passive income source. This passive income investments strategy becomes popular when anyone wants to earn in the long term through investing in real estate. The most common way to make money in real estate is through price appreciation—an increase in the property’s value realized when you sell.

Flip or sell your online business or website:

This is one of the popular business ideas for passive income nowadays. So, today we are in the digital era. Every business should have an online presence nowadays. If you are a blogger or website builder, then your work and future only depend on the internet & there is significant news here for you. If you love to build websites, you can also sell your websites to another user & make some decent profits. There are some tools available by which you can easily flip or sell your websites online. Flippa is one of the best tools to sell your online businesses. You may know about the renowned blogger Anil Agarwal from Bloggers passion. You can read him about section to know how he sold his simple blog at $35000 in 2011. Now you can understand how much you can earn from a flipping website.

Build an mobile app:

If you are a programmer or app developer, then building your app & monetizing with ads or building apps for others can be a great passive income opportunity. There are two different options available. Nowadays, every business is going digital & it is also noticed that 70% to 80% of traffic comes from mobile devices only. So, Google also recommends a mobile-friendly website. If any website gets a major amount of traffic from mobile-only, it’s also better to develop an app for your business. You can also check Zomato, Swiggy app, how popular it is.

If you do not want to build the whole app independently, You can buy code from CodeCanyon. Then, you can use a tool called Eclipse and install the Android Development SDK to modify the code to create your unique app. You can monetize your app in several ways, including running in-app advertising, offering paywalled content, and charging for premium features to the users.

You can also publish your app at the Google Play store & Apple store for the public to download & use your app.

Sell your videos:

Selling your videos can be one of the great alternative income source. Nowadays people are so much creative. You can also show your creativity to make videos & one of the good way to earn passive income for you. For your understanding, there are two types of Stock footage selling options available.

• Single Time Selling.
• Multiple Loyal Income.

You can watch this video of Sell video clips ( STOCK FOOTAGE ) and earn money – By Samar K Mukherjee to understand How to sell video clips (Footage). There are multiple online platforms available for selling your creative videos like Adobe Stock, Story Blocks, Pond5, Shutterstock & Getty images.

Create a YouTube Channel

Being a YouTuber & launching your YouTube channel is like a trend in the 21st century. If you love to share your knowledge in video form, you can start your YouTube channel. There are multiple monetization options available on YouTube. First of all, you can link your YouTube channel with Google AdSense & show your viewers AdSense ads & earn from that. If you can establish your channel with good viewership, you can also get sponsored video post offers from many renowned brands. There are multiple channels available that are earning more than lakhs per month from only their YouTube channel. Starting a gaming YouTube channel is also a trend & has good potential to earn from Gaming YouTube channel & easy to establish your channel than any other category.

Promoting & Selling Personal Merchandise:

If you are a brand or have an extensive fan base, you can start selling your personal merchandise. It will be effortless for you if you have a fan base created earlier, then this can be a good passive income source for someone. Nowadays, every YouTuber has a good fan base are selling personal merchandise through their youtube channel. For example, you can check how Bhuvan Bam (India’s one of the most prominent YouTubers) selling his merchandise through his website https://youthiapa.com/.

Also, there are many websites available where you can customize your product & buy for yourself or share the link of your product for selling purposes.

• https://www.cafepress.com/
• https://www.sunfrog.com/
• https://www.spreadshirt.com/

Sell your Photography:

When we have discussed that you can sell your videos, then why not photos. You can also sell your creative images to earn some extra passive income. If you think that photographers are only making money by taking & editing pictures, then you are wrong. They sell them too. There are lots of free & premium stock image websites available. You can list your images & sell them to customers; users can use images for advertisement or any other purpose. I am listing some free as well as premium websites where you can list your creative photos.

Free Stock Image Websites:

1. Shopify Burst
2. Pexels
3. Unsplash
4. StockSnap.io
5. Gratisography

Premium Stock Image Websites:

1. EyeEm
2. Shutterstock
3. iStockPhoto
4. Fotolia
5. BigStockPhoto

Also, you may know the famous motivational content creator Mr Sandeep Maheswari. He started his own company as Imagesbazaar, and Imagesbazaar is the most extensive collection of Indian images & videos. So, with this, you can easily understand the power of your creative videos & photos.

Writing & Selling Ebooks:

Writing an ebook is nowadays one of the popular ideas for secondary income. If you notice, most of the successful YouTubers or bloggers are creating their ebook & promoting it through their blog or youtube channel. An ebook is a premium product; writers share their secret knowledge on any topic & promote it so that their audience can buy their ebook at a nominal price.

There is a various method available to sell your ebook. You can list your ebook on Amazon or Flipkart also. You can directly sell your ebook as a kindle version or you can also go with the printed version also. If you are directly publishing your ebook through Amazon Kindle direct publishing tool, you will be able to get 70% of royalty on sales of your ebooks. For everything, we need motivation & motivation comes with earning opportunities. So, I am sharing the ultimate passive earning opportunities story here. How Kindle Direct Publishing is enabling women to become ‘authorpreneurs’ and earn an income through self-publishing & how Amazon Pays $450,000 A Year To This Self-Published Writer. If you are promoting your ebook through your blog then you can upload your ebook in Instamojo & collect payment through an Instamojo account. Instamojo is a great tool for collecting payment through different methods in India.

Rental Income:

When we have already discussed the investment in a property, there is another way to earn a good amount of money monthly. When you have a good property, you got a chance to earn from rental income. You can easily provide someone your property on a rental basis & earn a good amount of passive income every month. This can be one of the good passive income ideas if you own a good property.

Driving for Ola or Uber in India:

App-based cab services, such as Ola and Uber, have had phenomenal success in India. Their competitive pricing, door-to-door service, and ease of availability have attracted millions of customers. If you have a small-to-mid-sized car, you can do the commercial registration for the car & apply for Ola or Uber. Then, you can take orders from passengers in your city as per your timing. You can make decent money through this passive income idea. Not only Ola or Uber, but nowadays you can rent your two-wheeler also. Two-wheeler registration also started in Ola. Anyone can book two-wheelers also from Ola mobile application.

Earn Passive Income By Delivering Food:

As we can get two wheelers & four wheelers in our doorstep as per our convenient time, nowadays anyone can have their favorite food in their doorstep from their favorite restaurant. Many food delivery apps are available to book food from our favorite restaurant & anyone can join these food delivery companies to earn some passive income. In India, many are making good money by delivering food. The most popular food. delivery apps are Swiggy & Zomato.

Save Income Tax in India:

When we are discussing so much on earning passive income, we must not forget that if you earn more than a certain amount in any world, you have to pay taxes for that. But there are many possibilities are there by which you can save more & more taxes. Here we are discussing different ways how you can save your taxes in India. So, saving taxes is also like earning a passive income. p

Tax benefit under Section 80C:

We discuss the investments or deductions are all subject to a cap of Rs 1.5 lakh per annum. In other words, they are either/or investments and making one type of investment will reduce room for another.

1. Tax-Saver FDs: You have the option of investing your hard-earned money in Tax saver FDs. You can get a tax deduction of up to Rs 1.5 lakh under five-year tax-saver FDs. The interest on these FDs is taxable.
2. PPF (Public Provident Fund): Public Provident Fund is a popular method to get a tax benefit. PPF is a government-established savings scheme with a tenure of 15 years available at most banks and post offices in India. Its rate changes every quarter & interest on PPF is tax-free.
3.  ELSS Funds: ELSS is also a well-known procedure to get a tax benefit. These are mutual funds that invest a minimum of 80% of their assets in equity. They have a lock-in period of 3 years. The returns on ELSS funds are subject to Long Term Capital Gains Tax (LTCG) at 10%, over and above an exemption limit of Rs 1 lakh.
4. NSC (National Saving Certificate): A National Savings Certificate has a tenure of 5 years and a fixed rate of interest. The interest on NSC is also automatically counted towards the Rs 1.5 lakh 80C tax-deductible if no other investments are using up the limit.
5. Life Insurance Premiums: Premiums for different insurance policies, including ULIPs, term insurance and endowment policies, are tax-deductible up to Rs 1.5 lakh. However, the insurance cover must be at least ten times the annual premium.
6. National Pension System (NPS): This deduction is available under Section 80CCD up to Rs 1.5 lakh for contributions to NPS. This is over and above the Rs 50,000 deduction available under Section 80CCD(1B) discussed below.
7. Home Loan Repayment: Repayment of the principal amount on a home loan is tax-deductible up to Rs 1.5 lakh per annum.
8. Payment of tuition fees: Payment of tuition fees for your children is tax-deductible up to Rs 1.5 lakh per annum.
9. Employee Provident Fund: Under the Employee Provident Fund Act. 12% of the pay of employees in the organized sector is deducted from Employees Provident Fund. This deduction counts towards the Rs 1.5 lakh limit under Section 80C.
10. Senior Citizens Savings Scheme: Contribution to the SCSS is tax-deductible up to Rs 1.5 lakh. SCSS has a tenure of 5 years and is available to those above 60. The rate for SCSS is higher than prevailing FD rates and is currently 8.7% (it is taxable).
11. Sukanya Samriddhi Yojana: Parents of a girl child below ten can get this deduction. This account has a tenure of 21 years or until the girl marries after turning 18, and the interest is tax-free.

Contribute to the National Pension System:

This deduction under Section 80CCD(1B) up to Rs 50,000 is only available for contributions to the NPS. The NPS allows you to invest in equity and debt pension funds and build a retirement corpus. You can withdraw it at age 60.

Pay Health Insurance Premiums:

Taking health insurance nowadays days should be everyone’s bucket list. Your lifelong savings can go within few days of hospital bills. So, investing in health insurance can be a safeguard for your lifelong investments. You can also avail of a deduction of up to Rs 25,000 is available for health insurance premiums under Section 80D. This is over and above the deductions listed above. However, for senior citizens, this limit is increased to Rs 50,000. Thus, a person contributing health insurance for himself and senior citizen parents can avail of the combined deduction up to Rs 75,000 per annum.

Get a Deduction on your Home Rent:

So, we have already discussed that giving own property as rent is one of the great passive income ideas. You can even claim a tax deduction on your House Rent Allowance (HRA) if you get HRA. There is no upper limit for this, but there are rules that cap the maximum HRA deduction. If you do not get HRA but pay rent, you can claim a deduction under Section 80GG up to Rs 60,000 per annum.

Get a Deduction on the Interest on Your Home Loan:

If you have a home loan, the interest payable on it is tax-deductible under Section 24 of the Income Tax Act up to Rs 2 lakh per annum.

So, here is a quick tip for your guys. If you are not a govt or good Pvt company employee, getting a huge amount of loans is difficult. Before processing loans, they normally check your credit score. If your credit score is not good, then you may face huge issues in taking loans. So, it would help if you started increasing your credit score from today onwards. You can read this article to understand how to increase your credit score to get a loan from any financial institution.

Keep Some Money in Savings Account:

This is probably the easiest deduction under the Income Tax Act that individuals can claim. Whatever we earn from external sources like direct or passive income ideas, money normally comes in our savings account & then we distribute the money as per our requirement. Interest on savings accounts is tax-free up to Rs 10,000 per year under Section 80TTA. This limit is Rs 50,000 for senior citizens for both FD and savings account interest under Section 80TTB.

Contribute to Charity:

You can get a tax deduction on your charitable donations on whatever you have earned through your direct or passive income. There is no upper limit, but different rules restrict the tax deduction amount available on your charitable contributions. For most donations to NGOs, the limit is 50% of the donated amount and up to 10% of your adjusted total income. In addition, NGOs under this section must have an 80G certificate for you to claim this deduction.

Conclusion:

Whatever passive income ideas or source of passive income you choose but to be successful in any method of earning a good passive income require lots of dedication & consistency. Do not think these ideas are instant money-making ideas. Without proper strategy & planning, it will be a total failure. So, choose any of the ideas as per your skillset & passion & start building your platform to make money for you while you are sleeping & enjoying your vacation in your dream place with your dream person. Best of Luck 🙂

People Also Ask – Frequently Asked Questions on Best Passive Income Ideas: