Passive income is a type of income that does not require active participation from the person earning it. It is generated through activities such as investing, renting out property, and creating online courses. Passive income can be a great way to build wealth and create financial security.

In this article, we will explore 23 passive income ideas that can help you build wealth.

Create a Course

Creating an online course is a great way to make passive income. You can create a course on any subject that you are knowledgeable in and then sell it online. You can also create a membership site and charge a monthly fee for access to your course.

Write an E-book

Writing an e-book is another great way to make passive income. You can write about a topic you are knowledgeable in and then sell it on popular e-book platforms such as Amazon Kindle.

Flip Retail Products

Flipping retail products is another great way to make passive income. You can buy products at a discounted rate and then resell them for a profit. You can also use drop shipping to avoid having to hold inventory.

Sell Photography Online

Selling photography online is a great way to make passive income. You can create an online portfolio and sell your photos to stock photography websites. You can also create a website and sell your photos directly to customers.

Dividend Stocks

Investing in dividend stocks is a great way to make passive income. Dividend stocks are stocks that pay out a portion of their profits to shareholders. This can be a great way to generate a steady stream of income without actively trading stocks.

Rent Out a Parking Space

Renting out a parking space is another great way to make passive income. You can rent out a parking space in your driveway or garage and charge a monthly fee. This can be a great way to generate a steady stream of income without having to actively manage a property.

Sponsored posts on social media can be a great way to make passive income. You can create sponsored posts for companies or brands and get paid for promoting their products or services. This can be a great way to generate a steady stream of income without actively managing a business.

These are just a few of the many passive income ideas that can help you build wealth. With the right strategies and dedication, you can create a steady stream of passive income and achieve financial freedom.