Framework to Build Passive Income

When you want to build passive income. You need a lot of consistency. You have to build some of the items that could give you consistent output. So this in turn would build up a good income long term.

Some of the time the framework for such type of the passive income takes a while to establish and in the between you have to work on the things that would help your setup in short.

I'd say when you are trying to build the passive income streams, you have to think of the framework that has some sort of the leverage which a lot of people can't find in the jobs or when they are into active income.

The component here is passive which require some active efforts to build but later gives the passive output over a period of time. So do check out the framework to build the passive income.

Invest into Dividend Income Streams

Some of the time when you want to earn some consistent income the dividend stocks, dividend mutual funds are a good option. You can build a good set of the income through the dividend form of income stream.

Though it takes a lot of efforts for such type of the income to develop over a period of time. I would say those who want to build a good dividend income need to buy those assets over a period of time.

And in case of the dividend income the stream of income takes a bit of effort to establish. So on that note I suppose it takes some time as well. I realized that from experience that this sort of the income stream is a good option.

Invest into Crypto

When you want to take big income out of small investment. Then investing into the bear cycle of the crypto market is a good option. A lot of people got rich when the bitcoin price was under 1000 USD and now they can sell and exit too.

So the bear market is the time when the new coins can be purchased and you can make the exit over a period of time. And that is a good progress for anyone who wants to buy and sell during those cycles for market exit.

Crypto is a good source of income for many who wants to have a cyclical income. Like you earn through bear and bull cycle and profit from the same. You choose when to exit and when to enter the market.

Sell Products Online (Digital/Physical)

I am getting into this method for earning online. Like one of the popular method for the earning online is making some real products and selling them online. Take example of the products like say digital files, designs etc.

Those products can earn you a good income if you learn to sell them the right way. You can even set your own self through cycles of the sales if you manage it. That's what I have realized.

However getting initial sales takes forever. You can't make a lot of money out of the blue. This would require some effort there. You have to build on the portfolio of many products and let them stay for the income to work.

Renting out

I have yet to buy the property which can be rented. But if I could do that then I'd be renting out a lot of items and then make sure to earn from those. Because it can give you the passive income from renting the rooms.

When you try to rent out the things and try to set up a process it can earn you a good income. Some of the time that sort of the approach helps out with the setup. So make sure to rent things out and work on those things as well.

When you rent the property make sure to go through legal checks. That's what is going to make things a bit better. I realized that renting takes forever process just keep an eye on the legal checks.

Consulting (Time for Money)

I feel that this is one of the methods which are slow earners but those who need your services can get it and also that income can be consistent. Some of the times it is something you can rely upon for some regular work.

I feel it can also generate a good income if done the right way. Some of the time we have to get things right and that's what the consulting income is all about. Make sure to invest your funds and the mind into this the right way.

I don't know if this would be a good income during retirement but make sure to have it properly set up. So have it as a side hustle. I am sure you would do pretty good with it along the way.

What do you think?

I feel making some passive income takes effort and also a lot of time along the way. You have to start with something and build on those things. It would eventually give you some returns too.

What's your experience in this?