5 Passive Income Ideas To Make $10,100 Per Month

I've been traveling a lot, I got sick as well, and I'm just recovering from that right now. So, I haven't had much time to devote to actually working. Yet, how have I been able to make what, for many people, is a full-time salary in just the past 30 days? 

The only reason I've been able to do this is due to the fact that I've been building up these passive income sources over the past decade. Now, you might be saying, "Decade? This kid looks really young!" But I started my online journey when I was just 13 years old, and now I'm in my mid 20’s. 

I'm so incredibly grateful for what my past self has done to be able to put me in a position of financial independence at an incredibly young age.

These passive income sources did take some work in the beginning to build up, so they're not entirely passive straight from the start. A couple of them are, but most of them aren't, they're going to take some work to build up.

 But once you build them up to a certain point and implement the right strategies that I'm going to be sharing with you in today's tutorial, they can then certainly be passive. In this article, I'm going to be talking about five of some of the best passive income sources available right now and exactly how to get started in them. 

These are some of the best passive income sources because they're easy to start. Most of them don't require a ton of capital right away, and many of them have the potential to scale up to ridiculous amounts of money down the line. 

Now, I can't guarantee you'll make millions of dollars just from reading this article, but I'm going to show you exactly what myself and a lot of my successful students are doing as well.

Passive income source number one is on the website which is YouTube. Most people don't realize this, but YouTube is one of the biggest opportunities available to people in our time. The fact that we can just upload videos to YouTube and they have the potential to go viral.

Not only that, but we can make money natively from ads that YouTube puts on the platform—is absolutely incredible. Never before in history have we lived during a time where we can take advantage of a website like this. And it gets even better.

The content that we upload to YouTube can also continue to get views for years into the future. Plus, we can use it to promote any of the other passive income sources that we'll be talking about today. 

We can use it to promote affiliate products, sell our own course, and do so many different things all from one single YouTube channel. The videos live forever and can continue to get views for years into the future. My foundation was built on YouTube, and that is what has been 90% responsible for me becoming a millionaire at such a young age.

Just to nail this point home: over 40 million new people have signed up to YouTube and other digital platforms since 2020. Think about this logically, do you think all of those people are creating content? No. Most of those people are consumers.

They're watching the content for entertainment and to learn new things. Only a tiny fraction 0.001% of those people are actually going to create content, and only a tiny fraction of those people know how to create good content that's actually going to get a lot of views. 

You can learn those strategies, and you're heading in the right direction right now by reading an article like this because you're learning the right strategies to use, as opposed to just going out there and guessing.

So, what this essentially means for you and me is that there still exists such a huge opportunity on YouTube. Don't think that you had to get in on YouTube years ago. I'm still starting new channels all the time and succeeding with them, as are all of my successful students in my community.

They're starting new channels and succeeding with them all the time. You might be saying, “Kingsley but YouTube isn't passive! Don't you have to keep uploading videos?" Sure, if you want to start getting new views and planting new seeds, but those old seeds that you planted can continue to get views forever into the future, as long as YouTube exists. So, it can be entirely passive once you've built up a backlog of evergreen content.

With so many resources available today that just make the barrier to entry into getting into YouTube so much lower for example, you have ChatGPT to help you with writing your scripts, AI voiceover tools like Eleven Labs to help with that, easy video editing software available like PowerDirector, and overseas talent that you can hire for great prices, which is a win-win for both of you—in my opinion.

Not making at least some type of presence on YouTube right now, this year, is a huge mistake if it's something that you're at least thinking about doing. If it is, jump in there! Do it as soon as possible. Start planting those seeds. Trust me, you'll thank me a year from now. 

And in order to create a YouTube channel, you don't have to show your face like most creators are doing right now, even though that can work incredibly well. My personal channel is an incredible lead magnet for selling my course, and I get greater fulfillment from helping people. 

But I also run a bunch of faceless YouTube channels as well, where I pay people to make the content for me. These are channels just like BrainyDose, which gets millions of views per month. 

Their content is mostly just stock footage with a voiceover on top of it. You can get stock footage from websites like Pexels, Dareful, and others. Then, you can edit the videos together using completely free video editors.

For example, iMovie if you're on Mac, the PowerDirector app if you're using a phone, or if you're like me and use Windows, you can use HitFilm Express, OpenShot, or Shotcut. There are so many different niches or subcategories of content out there when it comes to doing this. 

If you're interested in something, there's probably a YouTube community around that that you could jump into and potentially even make a full-time income generating videos around. The sky is the absolute limit when it comes to how much money YouTube channels can make.

If you're interested in some of the best niches when it comes to making money on YouTube, I have a new article coming out soon on this website that shows you 30 of what are, in my opinion, the best niches to use this passive income method. 

Affiliate Marketing 

Passive income source number two is affiliate marketing. You've probably heard of this, but it's simply a technique where you promote somebody else's product, and for every sale that you refer, you get a commission from that sale. 

Now, I personally do this within my own business. I promote other software that I talk about within my courses and everything, and I make tens of thousands of dollars per month recurring because I'm promoting software that people pay for and keep paying for over time.

These include software like VidIQ and TubeBuddy. The fact that I was making so much money promoting these software programs gave me an idea: what if I allowed other people to promote my own course that I sell as an affiliate? 

So, I did exactly that, set up a simple landing page, gave a bunch of free resources when it came to promoting my course, Tube Mastery, and just like that, over the next couple of months, I was making an extra tens of thousands of dollars per month just from people promoting my program. 

And you know what that meant? Since I was splitting 50% of the sales with those affiliates, they were also making tens of thousands of dollars per month. To date, we've paid out over $600,000 to affiliates.

Now, how are these affiliates promoting my program and other programs in order to make money online doing affiliate marketing? Well, there are two types of traffic sources when it comes to affiliate marketing or selling anything online, free traffic and paid traffic. 

Now, if you have more time than money, then you definitely want to jump in and start with free traffic. But on the other hand, if you have more money than time, then it does make sense to start experimenting with paid traffic. 

So, free traffic in my opinion, the best form of free traffic is going to be running YouTube channels because, like I said, those videos live forever and can continue to get views, unlike other social media out there. 

But if you want a complementary source of traffic, you can look into starting an Instagram account as well. Eventually, you can even think about adding your very own website or blog. When it comes to paid traffic, these can include YouTube ads, Facebook ads, Instagram ads, etc. 

Another free source of traffic, by the way, is TikTok. So, if you produce any short-form content, it definitely makes sense to distribute that on TikTok, YouTube Shorts, and Instagram Reels, and then put the link to the affiliate product you're promoting in the link in bio for each of those respective platforms.

The math behind affiliate marketing is incredibly promising. If you get just 20 sales per month at a $500 commission, then you're making $110,000 per month. That's way more than a full-time income for most people, so as you can see, the potential for affiliate marketing is incredibly high.

No-code software 

Passive income source number three, which is a little bit outside the box, is something called no-code software. As you probably know, software has made so many people incredibly rich over time, but in the past, you had to be some type of tech wizard, or you had to know one, or you had to spend hundreds of thousands of dollars employing people who did know how to make software in order to create something that you hoped would be successful so you could eventually get a bunch of users. 

But nowadays, new tools have been popping up, like Bubble.io, which allows people to create their very own software without any super advanced technical knowledge. This has been commonly called no-code software.

Now, the key to having successful software is to actually solve somebody's problem. For example, if I take a look at the software that I personally use within my businesses, it includes software like VidIQ, which I mentioned earlier, and which allows me to analyze the statistics of different YouTube channels. 

I also use Kajabi for hosting my courses; this allows me to simply upload the videos to my course, and they handle making it look good and everything. Surprisingly, you can create very similar products to these using no-code software.

There is a little bit of a learning curve, but not nearly as much as learning to code from scratch. You can go down this rabbit hole, like I have over the past couple of months, and you can look into this further if you want, just by searching "no-code software" on YouTube.

You'll find a lot of tutorials teaching exactly how to do this and people showcasing case studies of making lots of money with software. The brilliant thing about software is that it is often recurring revenue, which means that somebody keeps paying for that software month after month. 

If you get 1,000 users each paying you $20 per month, that right there is $20,000 per month in monthly recurring revenue. The way software multiples work, a company like that could sell for as high as $1 to $2 million.

High Yield Savings Account

Passive income source number four is for when you actually start making money with some of these methods: you're going to need a place to put it. Instead of using most bank accounts out there, which will earn you little to nothing in the form of interest, you can instead look into something called a high-yield savings account. 

This is true passive income because you literally just put the money in there, and you'll get a deposit every single month depending on how much you put in. This is where I like to store my extra cash because then it's not just sitting there—it's actually doing at least a little bit of something for me.

These do change over time, so make sure to do research that is up to date, and also make sure the bank account you choose is FDIC insured to ensure that your money is safe. I do recommend choosing a bigger bank if you can, so you don't have to deal with a small one that could potentially go under or anything.

Once you start making lots of money with these passive income sources, then it's time to jump to passive income source number five, which is investing. It's time to invest some of your money, and the reason for that is so you don't lose your money to inflation. 

With inflation, the value of your money decreases over time. Investing can seem like a very complicated subject, but the way that I like to go about doing it is actually very simple. 

I just invest the majority of my money in index funds or ETFs that cover the majority of sectors and markets within the stock market. These include VTSAX, VOO, VXUS, and a bunch of different other ones. None of this is investing advice; I'm simply sharing what I personally do.

The reason I invest in these is that these funds comprise hundreds of different top companies, so I don't have to invest in each of those companies individually. Therefore, my risk is a lot lower as well. 

This is a long-term strategy that can make you money. You can also take part in what's called dividend investing, where you invest in companies that pay higher dividends. There are a lot of great videos on YouTube breaking down the math behind making an extra $100 or $1,000 per month from dividend income over time, and this as well is true passive income.

But before you go about investing, opening high-yield savings accounts, or anything else, make sure that you first and foremost focus on a business or a skill that's going to generate you income in the first place. 

As I said, in my opinion, the absolute best way of doing that is running a YouTube channel. And if you want to discover step-by-step how to start a faceless YouTube channel and potentially make a lot of money from it, then check out the next to. 

It will show you exactly how to do just that. I essentially designed this article to be a free course—there's no fluff in it whatsoever. I really try to just get straight to the point, so check it out. I think you'll get a lot of value from it.

My name is Kingsley Abbey. Thanks for reading until the end. and I'll link up with you later