Passive Income: Is it even possible right now?

If you've read any of my blog then you know I'm not one of those people who sugar coats things. The main reason I made my website was to help expose how making money online really works. So, is it even possible to make passive income right now? The answer is yes, but what you should be asking instead is how much.

With bank interest rates as low as they are, then the easy things like account interest, CDs, money market accounts, and other banking products just aren't as lucrative as they once were. If you were already using some of these products/services and had your rate locked down then obviously this doesn't apply to you.

While it is an amazing time to purchase a piece of real estate, if you were relying on income from rental property then you may be feeling the squeeze right now. Many states have made it illegal to evict someone even if they don't pay their rent. Suddenly that "fool-proof" plan to rent out houses stopped making people money for the time being.

It's not all bad news; If you were ever interested in writing a book then you should really get to it. People are spending far more time at home, and as they run out of shows to watch there will be more people picking up that dusty e-reader. I've already seen a small uptick in the pages read from my books on the Kindle Unlimited Program.

As people return to their normal lives, whether it's next month or next year, stock values will rise. If you've ever wanted to invest in stocks then now might be a good time for you. You can talk to a broker, or use an online service, and invest in smaller stocks to get your toes wet before jumping in to a big stock. It's always a gamble, no matter what anyone tells you, and no one can guarantee you anything when it comes to stocks; however, historically stocks have made a lot of people a lot of money, so just think before you jump and do your research.

You can make a passive income even in times like these, but in order to see any type of a real return I think you would need to have as many of these revenue streams going as you can. Diversification is key to passive income, and it does take some work to set them up; I've been writing a blog post almost every day since the beginning of February and I still haven't made a penny from doing it. I believe I'm writing helpful articles for people that hopefully answer some questions. In time, as i'm seeing with my analytics, more and more people are visiting my site. I know the ads on the page are annoying, but that's one of my passive revenue streams hard at work.

So go back through my posts and read my site reviews and passive income strategies. Find one that works for you, then come to that harsh realization that everyone hits; you need money to make money. Don't give up, keep working hard towards your goal, and there is no reason why you can't be earning some form of passive income.

Hi, my name is Dale. If you liked this article then check out The Blog! where I make near daily posts about passive income streams, making money online/from home, hobbies, home repairs, ways to save money, and so much more.