For a lot of people, travelling around the world means you stop working. Money stops flowing in. It’s something that needs to be saved up for over time. What if you could keep the money rolling in while you were travelling, instead of it stopping? It can happen if you’re careful. This means you’ll have to manage it on the move, but it won’t be as intensive as working a full time job while moving from place to place. What is passive income? It’s an income stream which comes in without you having to put heavy amounts of work in. It’s meaning varies from person to person, but here are some ideas for you. They all require heavy work to set up and get going, but it’s certainly worth it so you can travel at ease.
Passive Interest From Investment
Some investment interest or stock dividends can pay out weekly, monthly and even daily. If you can save up enough to invest in a high paying investment vehicle, you can live happy on the interest or dividends for the duration of your holiday. If you don’t mind dabbling in the investments on your journey by day trading, you can make a bit more. Simply by checking the price of Ethereum from time to time and buying low, selling high can pull in some extra cash. The caveat here is that you really need to know what you’re doing, so put the study and research in before you go. It might sound a bit far fetched, but there are many out there who travel the world while day trading. You can mix this up to your liking so that it’s either more passive with interest, or with you actively selling.
Dropship Your Way To Passive Income
Dropshipping has become a pretty lucrative form of business in the last few years. Essentially, you set up a store online which sells items from a warehouse. But you don’t own the items, neither do you manufacture them. You just take a cut of the profit because you’re making sales. It’s super passive but it needs you to set up the website. I’ve you’ve got the income it might be that you decide to buy a currently successful dropshipping website instead. Buy it, take the profit it makes in the meantime while you travel, and then sell up when you get back. Nice and easy passive income, so long as you’ve got the money to set the site up, or buy the site before you set off on your travels.
Think About Subscription
It might be that you offer a subscription based service. This means people will pay on a monthly basis for items you provide. The work comes beforehand where you try to drive up enough subscribers to make the whole thing viable. There are multiple ways you can promote your subscription based business, but it depends what it is and what you offer. It might be an onlyfans site where you offer an insight into your life, or it could be a blog where you show people the places you visit and provide valuable tips for when they do the same.