Passive income to fund your travel will give you the kind of freedom most people dream of. It can take time and definitely needs effort, but it is achievable for anyone at any time.
Invest Your Money Wisely
Investing money isn’t without risk. However, there are some investments that are considered much wiser than others, with lower risk and long-term pay. Examples include luxury villa real estate investment trusts, stocks, and, yes, cryptocurrency. Crypto is unstable, but any losses are almost always regained. You just have to play the waiting game and not depend on them as your primary source of income. Some investments, such as Bitcoin, are excellent for short-term gains. While REITs give you longer-term security as their value increases over time.
Monetize Your Blog
If you travel, you can easily write your experiences in a blog. Travel blogs are popular, and most people love reading them. Especially if you explore remote areas or historical sites. As you get more readers, you should consider making money from your blog. This is easier than you think and can provide a solid platform for passive income. Some of the most common ways to monetize a blog include affiliate marketing, blogger outreach or collaborative posts, and Google Ads. You can begin using any of these at any time and place them on your posts and blog.
Rent Property to for Passive Income to Fund Your Travel
If you can afford the downpayment to buy property that you know you can rent, then go for it. The holiday home rental market is a perfect example. You can do this as you would when buying a house. Except, you won’t live at the property. Instead, you will rent it to others to use. Sites like Airbnb makes this a breeze, and all you need to do is pay for maintenance and collect your money. And because of the nature of most rental sites, you can manage a rental property portfolio from anywhere in the world. Meaning you never have to visit and can continue to travel.
Create and Sell Digital Products
Sites such as Etsy and eBay are excellent for generating eCommerce income. However, they will take your travel time because they require physical items to sell. Yet there is always a market for digital products. Examples include eBooks, tutorial videos, and even artworks that you can trade using trendy non-fungible tokens (NFTs) for Bitcoin. The beauty of digital items is you can sell many of them repeatedly from the same source. Meaning once an item is placed for sale, you just collect the money with no need to fulfill orders or ship anything.
Work with Amazon
Of course, you can go down the eCommerce route if you wish. For example, you can use Fulfillment by Amazon. With Amazon, you work with manufacturers to make your own products, put your own name on them and ship them to Amazon warehouses. Then, you put these items on Amazon so that people can buy them. Or you can use Merch by Amazon. Merch by Amazon offers print-on-demand services where you can upload art to be printed on products and sold. The money you make comes from royalties, and Amazon takes care of everything else.
There are a number of ways to make passive income to fund your travel. Some of the most profitable include investments, rental properties, and working with Amazon for eCommerce.