Passive Income Definition and 18 Passive Income Streams Ranked

There are hundreds of passive income ideas floating around YouTube but how do you know which ones are legit and which will work for you? In this video, not only will I give you a passive income definition that will answer the question, I’m also ranking the 18 most popular passive income streams to make money online. Part one in our three-part ultimate guide to passive income sources here

If you’ve been on YouTube for more than three seconds, you’ve already seen your share of passive income videos promising more than they deliver. Legit passive income is almost like a myth that everyone believes but nobody really knows if it’s true or not.

The problem is the definition of passive income is so subject to opinion that people put out all kinds of lame passive income tutorials just for the views. Then they make no attempt to show you if the ideas are legit passive income streams or not.

In this video, I’ll start with a passive income definition and three questions to ask about any residual income source you see. I’m then going to use the questions to rank 18 of the best side hustles to show you which are passive and which are work.

If you want to learn more about creating an online course, click through and get this free checklist as part of our three-part video course. It’s all totally free and will walk you through creating a passive income course and making more money.

You’ll also want to check out that free affiliate marketing video tutorial and checklist to make that second passive income stream a reality. Download the free checklist and watch the two-video series for everything you need to start making money online.

I’ll start out by showing you how creating passive income changed my life and sharing my actual income numbers. We’ll look at a workable and realistic definition of passive income and use it to rank popular ideas. Then I’m going to bust the myth on some of these so-called passive income streams by showing you why they’re not passive.

Then I’ll reveal my favorite passive income ideas that make money even while you sleep. I’ll show you how to get started, how much you can expect to make and how to be successful. I’ve included a linked index to each part in the video but watch all these passive income streams because the knowledge you gain will set you up for success!

0:55 How Creating Passive Income Changed My Life
1:38 Passive Income Definition
2:18 Passive Income Ideas Ranked
2:30 How I Rank Passive Income Streams
3:30 What is NOT Passive Income
5:04 My Favorite Business Idea that is Not Passive Income
6:20 Are Real Estate Rentals Passive Income?
7:04 Passive Income Investments
8:25 6 Legit Passive Income Ideas

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.