23 Passive Income Ideas To Build Wealth In 2021 for doctors

Published Jun 06, 21
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Dropshipping is one of the most profitable passive income sources you’ll find online. And since we here at Oberlo specialize in dropshipping, it’s a good place to start. With dropshipping, you can find trending products on the Oberlo marketplace that you can then sell online to customers around the world.

The magic in dropshipping is that you build your own business and control how much you charge for the products. In fact, out of all the passive income ideas on the list, dropshipping is the one where you have the most control over your earnings. To start dropshipping today, you can sign up for Shopify.

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Now that I’ve been covering personal finance for almost four years on my blog, those links reliably bring in four figures every month as people discover my articles and start to get their finances in order – and I feel fantastic recommending them, because I do personally use all of my affiliate products.

Create a Course Selling online courses is one of the best passive income ideas of 2021. That’s because we’re still seeing massive sales growth for course creators. Whether you decide to sell a course on your own website or on a platform like Udemy, you’ll find customers who want to learn your insider tips and tricks.

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It slowly started getting traction in two years, it was getting 100K+ pageviews a month. I decided to create an online course and see if it would fly, and it did. I made good side income for a few months and then decided to do this full-time and launch more courses.

The best thing about Instagram is that you can literally create fan pages for absolutely anything. Whether you love travel, fashion, beauty, home decor, or something really peculiar like outrageous dog grooming… … you’ll find a committed audience. The secret to getting a ton of Instagram followers is to be super consistent with the type of content you post.

Create a Print on Demand Online Store With ecommerce being one of the most popular ways to make passive income online, it only makes sense to give a shout-out to print on demand. Print on demand allows you to sell your custom graphics on products like t-shirts, clothing, mugs, canvases, phone cases, bags, and more.

The only downside is that you need to be savvy at graphic design because the margins are often too thin to outsource the designs affordably. However, if you create that unique winning design, your sales will take off. Plus, it won’t hurt sales since you won’t be competing with anyone but yourself.

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I’ve connected with boba lovers all over the world and recently reached 10k followers on Instagram. I’m just starting my journey to earning more passive income, but Shopify and Printful make it very easy and I am very optimistic!” 6. Create an App We might only be on the sixth passive income idea on this list, but you probably noticed a trend: Creating stuff tends to lead to passive income.

You can go about it in two ways. First, you can charge a fee for people who want to buy your app. Second, you can make your app free and monetize with ads. My fiance did this a few years ago and still makes a side income from his app to this day.

Shawn Breyer, Owner of Breyer Home Buyers, shares: “My girlfriend, now wife, graduated law school with $173,000 of school debt and we set the duration of the loan to be paid over 15 years, which made our monthly payments come out to be $1,459 per month in payments. We wanted to use rental property cash flow to cover our monthly law school debt.

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This alone saved us the $1,350 in housing expenses that we had prior to buying the duplex. Instead of allocating that money towards extra principal payments on the school debt, we saved that money and bought another duplex two years later. This acquisition added $650 in monthly cash flow, which we snowballed into a third property.

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The beauty of this approach is that our tenants are paying down our law school debt and if we were to lose our jobs or have a medical emergency, then we can rely solely on the rental income to pay for the school debt for us.” 9. Host Airbnb If you followed step number eight, you can choose to list your condo or home to rent on Airbnb.

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