Mid and long term ideas to build a passive income

Mid and long term ideas to build a passive income


In my previous post, I listed some of the projects I'm currently working on to start securing several streams of income in 2021. Today, I will share some ideas and thoughts that have been on my mind, that I may start acting on this year, but that I definitely don't expect to get anything from right now.

 

- Designing and selling apparel: My wife and I have been brainstorming a bit on some designs for t-shirts or any sort of clothes. Basically, it's things that we would like to own and wear but that don't seem to exist, so we figured, why not do it ourselves? We would probably start on TeeSpring (also enables the sale of other digital products) or Printful (seems to have lower commission fees on sales) and see where we go from there. But this will require way more work than we have put in at the moment, so I'm definitely not expecting a launch before at the very least this summer.

- Tutoring: French, English, Maths, Physics, Web development, these are some skills that I have and that I could use to help me move towards my goal. Whatever you know, I'm sure someone wants to learn it. I just need to look into websites providing some online tutoring service and this could turn into a good source of income.

- Stock investments: Investing in the stock market is not what it used to be, and today I'd rather put my money on crypto than on company shares. That being said, it can still be attracting for some reasons, and I still see it as an option worth considering. I joined Robinhood, referred by a friend, and received a free stock (a share of Sirius XM). I can't tell for sure if I will actually invest anything for now, but I'll keep the app and this stock in my portfolio for now and figure out later what to do with it. Robinhood is definitely easy to use and a good way to dip your toes in the stock market for the first time. If you also want your share of the cake and a free stock of a random S&P500 company, you can join it using with this link: https://join.robinhood.com/nathaln-81f11a. All you have to do is register and link your bank account (no funding necessary) and you will immediately receive a free stock, and so will I.

- Real estate: Before COVID happened, my plan was to buy a house in 2021, to live in at first and put up for rent in a couple years. Unfortunately, due to many different complications, this is no longer a viable plan for the near future. But I'm still hopeful that it can be done within the next 2 years. In the meantime, I'm doing some research on other ways to invest in real estate: either via an investment fund, or via tokenization through RealT for example. I'll keep studying options and see if I do move forward with this project by the end of this year.

- Youtube channel(s) and podcasting: As an amateur videographer turned professional, I already have a YouTube channel, that I use to post various types of videos that I shoot and edit when I have time, and that means really not that often unfortunately. I have new ideas of videos and series of videos popping up regularly in my mind, and I need to find the time to act on them more this year. Even if I'm far from meeting the Youtube monetization requirements, I can still use this channel to get visibility and hopefully find clients or get more followers here and on my different social media accounts. I also have in mind a couple of promising channel and podcast ideas that I would like to eventually launch with my wife, but these probably won't be happening this year.

- Children's books: Finally, the last project that's been on my mind for a while is to write children's books with my wife. We have some good ideas for a couple stories already, and she's a great illustrator, so we're at a good starting point, but whenever we decide to start acting seriously on it, it's gonna be a huge project. Definitely something I consider digging into more this year, and hopefully get out by the end of 2022.

 

So this closes the chapter on the ideas and projects I have in mind right now. I'll keep you updated on the advancement of all of these as I keep moving forward, and I'll post here a monthly report on what I achieved and (hopefully) earned during each month of the year, so make sure to give me a follow if you're curious to see where all of this is going!

Again, any advice or feedback is most appreciated, and thank you for your support!

Talk to you soon!

 

 

 

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Credits: Photo by Isaac Smith on Unsplash

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PierreL
PierreL

French video editor, wildlife photographer, amateur space junkie, sports and history buff and crypto enthusiast.


Pierre's Miscellaneous Corner
Pierre's Miscellaneous Corner

I write about things I like unrelated to photography or videography, such as crypto, personal finance, traveling, sports, space, my fight against pollution, consumerism and waste, and online privacy and accessibility.

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