Are you tired of working all of the time with no end in sight? Some days likely feel as if you’re never going to get out of the hamster wheel of the nine-to-five work life.

The average full-time American works 47 hours a week, which, when you break it down, it’s nearly six eight-hour days a week instead of five. Rather than spend most of your life clocking in and out, wouldn’t you like to make money while you’re sleeping instead?

That’s where learning how to make passive income can work in your favor. If you’ve always dreamed of being independently wealthy but weren’t sure how you’d make it happen, we’ve got some great ideas to share with you. Take a look at the 10 ways to earn passive income below and start planning for that early retirement.

Passive Income 101

You might have heard this term before but what exactly is passive income anyway? Passive income is the act of making money without doing a lot of traditional work like punching a time card or working with your sales contact lists, to earn it. Having a passive income means your money is growing while you’re out doing other things.

On the flip side, having an active income means you are actively working 40+ hours a week at your job, paying taxes, in a more traditional business model. You can own your own business and have an active income.

10 Ways to Make Passive Income in 2018 and Beyond

Choosing a passive income over an active income is, in most cases, preferred. Although many of the 10 ways below will require an initial startup phase with a fair amount of effort, some won’t need any effort at all.

1. Create a Blog

People are always searching online for ways to do things. So why not be a source of inspiration? Take the knowledge you already possess and make it work for you by creating a blog.

The biggest component of starting a blog is the initial process; however, once you’ve established the look, tone, and functionality of your blog, all you’ll need to do is be consistent. Regular blog posts equal more traffic, which ultimately means more passive income for you.

2. Invest in Dividend Growth Stocks

Whether you’re new to stocks or a seasoned trader, investing in dividend growth stocks can be an extremely beneficial source of passive income. Not only do dividend growth stocks have a proven track record of dependability, but they also pay handsomely.

For anyone in need of cash flow from passive income, this is one of the most reliable sources available. Invest a little or a lot and you won’t regret it.

3. Sign Up for Ebates

If you’re an online shopper, then this is the ultimate dream come true. Believe it or not, signing up for EBates is one of the easiest ways to make money with minimal effort.

All you need to do is create an Ebates account and, with every online purchase, rake in between one and 22 percent with a monthly check. Cha-ching!

4. Write an eBook

Professional bloggers, take note! Writing an eBook is a great way to combine your blog posts into a substantial volume of work – all while making a passive income. With a solid marketing plan and quality writing, you can provide a resource for your readers to return to again and again.

5. Sell Stock Photography

If you’re a budding photographer looking for passive income through your work, selling stock photography is a great option. Whether you create packages of themed photos, such as pets, wedding flowers, or babies, or sell each photo individually, there is definitely a need for professional images.

One of the most important components of a business marketing plan is the way a business can communicate with photos. But often times, businesses run out of time to implement this vital communication tool. This is where stock photography comes into play.

6. Buy a Car Wash or Laundromat

Car washes and laundromats are infinite sources for passive income. But you must make sure you have all of the economic facts straight. Before you invest, remember to have a bookkeeper pore over the previous owner’s financial statements to avoid overlooking any pitfalls.

Attendants, employees, taxes, water costs – these are all areas of profit and loss to pay attention to. If everything adds up, a car wash and/or laundromat will keep you in the black for years to come.

7. Create a Website to Sell a Product

Are you a top-notch expert on a specific product like a computer program or a dieting plan? If so, creating a website for that product alone can be a passive income goldmine if you’re onboard.

Instead of selling your own product, you’ll be able to drum up excitement for someone else’s product. Further down the road, once you’re more successful, you can begin to sell additional products related to your initial one.

8. Develop an App

How many times have you said to yourself “I should make an app for that!” We bet more times than you’d care to admit. Stop making excuses and start making a plan for designing the app you’ve been talking about creating forever.

If you already know how to program, then you’re halfway through the process. Once your app is complete, sell it in the App Store or Google Play, and watch your income swell.

9. Rent Space in Your Home

Are you an empty-nester with a spare bedroom or two? Don’t just sit there letting them collect dust – rent out the room(s) instead! Talk about easy money!

With very little effort, you can start earning $400-$1,000 a month. This passive income can help pay a variety of your expenses from health insurance to a retirement fund.

10. Invest in Real Estate

Real estate investment is one of the top sources for passive income. With rental properties being at the top of the list, there is no shortage of real estate opportunities to be had.

Turnkey real estate is quickly becoming the wave of the passive income future, so what better way to earn a regular income with ease? Learn more about how to collect rent from renovated properties and expand your income possibilities with ease.

Ready to Start Making Money?

Growing older, for many folks, means living as long as you can independently without giving up the quality of their lives. Hopefully, you can also do that financially with our helpful tips on how to make passive income work for you.

For more great ideas and tips, check out our blog for the latest articles.