Best Passive Income Ideas for Your Personality

Best Passive Income Ideas for Your Personality | Passive Income Strategies

The best passive income strategy for you is one aligned with your strengths and interests. Your passive income strategy should feel exciting to you. You're more likely to stick with the passive income strategy that excites you. When you are intrinsically motivated, it is more sustainable in the long run. So what are some passive income ideas that best suit your personality?

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A Corporate Dropout's Guide to Making Passive Income

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For years, I tried different passive income ideas and strategies. I made a ton of mistakes and learned a lot of hard lessons along the way.

Eventually, I reached financial independence retire early (FIRE) by replacing my salary with passive income.

I was finally able to leave a career that was no longer a good fit by creating multiple income streams from investments and side hustles.

Ready to create passive income too?

Over the years, I experimented with creating digital products, affiliate marketing, renting out space to index fund investing.

I got to get a feel of what I enjoyed doing and let go of the activities that were not as enjoyable.

There are so many ways to create passive income streams. It doesn't mean you have to try every passive income idea out there.

There's no one size fits all passive income strategy.

It can feel overwhelming with all the different passive income strategies these days. Start with one passive income strategy and see which works best for you.

Best Passive Income Ideas for Your Personality

Creative Types

  • Creative who enjoys teaching

  • Thinks outside the box

  • Open to trying new things

Create Digital Products: Here's a list of digital product ideas which include mobile apps, membership sites, e-books, online courses, etc.

Practical Types

  • Practical, rational & logical

  • Prefers working independently

  • Comfortable w/ uncertainties

Index Fund Investing: Here is my SIMIPLE Passive Index Fund Investing Strategy >>

Entrepreneur Types

  • Business minded

  • Flexible: adaptable to change

  • Prefers managing others

Rental Property Investing: Read "Rental Property Investing: How to Create Wealth With Intelligent Buy and Hold Real Estate Investing"

Collaborator Types

  • Collaborative work ethic

  • Innovative & flexible

  • Enjoys learning new things

Affiliate Marketing: How to Make Money w ith Affiliate Marketing

Sponsor Posts: How to Make Passive Income with Sponsorships

Which passive income idea best suits your personality?

Quiz: Best Passive Income Idea for Your Personality!

Best Passive Income Ideas for Your Personality | Passive Income Strategy

A Corporate Dropout's Guide to Passive Income:

In 2019, I quit Corporate America, sold my condo and moved across the country. In that order, within a month.

I tried leaving the 9-5 grind 3 times. The first time was ugly and messy. Second time was a little better. Third time was the charm.

It was time to start a new chapter. Being born and raised in Hawaii, I had enough of East Coast winters. So I picked Southern California as my new home.

Although, I didn't have another job lined and was just starting up my business, I was financially independent.

Prior to resigning, I had played around with different side hustles and invested consistently in stock market index funds.

We all know it's not an easy journey to financial freedom, let alone change careers.​ Join me along my new chapter in sunny California!

Here's my story...

Create multiple passive income streams.

Whether it's passively or actively earned, millionaires have an average of seven income streams. After all, having multiple income streams is one of the great keys to wealth.

There are many ways to create passive income streams. You don’t even have to start a business to do so.

This includes drop-shipping other people's products, creating an online course, affiliate marketing, renting out your car, and so on. Investing in rental properties is a great way to create passive cash flow too.

Which passive income idea best suits your personality?

Quiz: Best Passive Income Idea for Your Personality!

Best Passive Income Ideas for Your Personality | Passive Income Strategy

Interested in creating passive income through index fund investing too?

You probably already know that the path to financial wealth is to have your money work for you. Investing in index funds allows your money to compound over time so that you can earn money while you sleep.

Not interested in stock picking and day trading? Want to sleep soundly at night despite the volatility of the markets? Me too.

Here’s how I minimize risks:

  • Diversify across different asset classes

  • Diversify within asset classes

  • Diversify across markets, countries and currencies

  • Diversify across time

What does it mean to be diversified across time?

I’m talking at least a ten year long term investment strategy. No jumping in and out of the market.

Even the top financial gurus are not able to predict the right time to buy stocks. By adding to my index fund portfolio systematically over months and years, I reduce my risk and increase returns over time.

Quiz: What's the Best Passive Income Strategy for You?

About to take the leap? Already resigned?

The trend toward a gig economy is real. Maybe everyone around you is a #girlboss. If you never want to step foot in an office again, what would you do?

Corporate Dropout to Entrepreneur: Replace Your Income in a Gig Economy

When it comes to being a dropout, there’s one thing I know for sure. It’s not as easy or glamorous as it seems on the surface.

Whether it’s dropping out of Corporate or college, there’s a lot of unknowns involved. They say fear of missing out (FOMO) is a real thing. Well fear of the unknown is also no joke.

While I don't recommend resigning without a plan, sometimes you know when enough is enough.

Creating passive income helped me leave the 9-5 lifestyle once and for all. It wasn't easy leaving a steady paycheck and company benefits behind.

Those golden handcuffs are no joke!

Having passive income allowed me to leap with more peace of mind. To help others create passive income streams, I put together this Passive Income Quiz.

Which passive income idea best suits your personality?

Quiz: Best Passive Income Idea for Your Personality!

Best Passive Income Ideas for Your Personality | Passive Income Strategy