Looking for passive income? Get Rich in 2024

Looking for passive income?

Most of the get-rich-quick books, like Think and Grow Rich (Napoleon Hill) and The Automatic Millionaire by David Bach, talk about generating passive income streams.

Passive income is money you generate outside your normal day job. Here are 29 examples if you are interested: https://www.shopify.com/uk/blog/passive-income-ideas.

One of the most popular ideas that requires absolutely no capital is subletting. Subletting is nothing new; it is renting a property and then renting out the bedrooms individually. However, that is not groundbreaking! What is clever is to rent a property and then, with the permission of the landlord, offer the same property to short-term lets or holiday stays. Can I let out my rented flat and make some Airbnb money?

Short-term or holiday lets are always between 92%-155% higher than renting the same property for the long term.

According to a number of YouTubers including “Airbnb Subletting Step-by-Step Process | Jorge Contreras” the process is simple and a guaranteed money spinner.

If you watch the videos and read between the hype, it becomes clear that short lets or renting out to holidaymakers comes with its own problems of managing bookings and tenants. One solution is to invest in a management company that will take care of everything, from advertisements to cleaning. Click here for one that we have heard good things about. However these type of companies come with a cost and will take a hefty 15% out of your profits, still there is always a price to do businesses!

If you are interested in other income ideas, a wealth of publishers are waiting to take your money. I have listed the ones I have read.

All the books are available on Amazon if you are interested

  1. “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko
  2. “Rich Dad Poor Dad” by Robert T. Kiyosaki
  3. “The Total Money Makeover” by Dave Ramsey
  4. “The Intelligent Investor” by Benjamin Graham
  5. “A Random Walk Down Wall Street” by Burton G. Malkiel
  6. “Your Money or Your Life” by Vicki Robin and Joe Dominguez
  7. “The Bogleheads’ Guide to Investing” by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf
  8. “Common Sense on Mutual Funds” by John C. Bogle



Recent Comments

No comments to show.