Want to make money on autopilot?
Passive income is one of the best ways to build wealth and grow your net worth.
In this post, I'll explore how to make money on autopilot, the best passive income streams, how long it will take to make money, and the amount of money you can make while you sleep. Let's get started!
Reasons to Build Wealth with Passive Income
There are many reasons you might choose to grow your passive income. Below are some of the top reasons you should aim to make money on autopilot.
Having only a single income stream can be somewhat risky for your finances. For most people, their day job will amount to a vast majority of their total income.
This means if you were to lose your job you might need to tap into your savings accounts just to pay your basic bills.
By having other streams of income, you can rely less on your day job and better your situation if you were to lose your job.
Related: How to Grow 7 Streams of Income
Make More Money
Maybe you just want to make more money. That's a completely legitimate reason to grow your passive income. Even if you make enough money most people would benefit from some additional income each month.
Pad Your Savings
If you want to save more money, growing your income can certainly help. It can be difficult to save money fast on a low income – so by slowing increasing your income it will become easier and easier to save money.
Pay Off Debt
If you have credit card debt or student loans, using passive income can be a great way to lower these debts and build credit.
Any high interest debts you have (like credit card debt) should become a priority for your finances.
Reach Financial Freedom
Making money on autopilot is one of the best ways to reach financial independence with the possibility of retiring early. Because you won’t need to work for your income, you can still earn money even without a job.
How to Make Money on Autopilot
Below are some of my favorite passive income streams you can use to grow your earnings and make money on autopilot.
Start a Blog or Website to Earn Money
Starting a blog or website is one of my favorite ways to make passive income each month and almost anyone can get started.
With this income stream you'll need to spend time growing your audience before you will start making a significant income which can take a couple of years.
Once you start to pickup traffic you can monetize your website using a few methods such as display advertising, affiliate marketing, and selling online courses or services.
Starting a blog or website will cost you around $150 a year to start. This will cover the cost of your domain name and the hosting for the entire year.
If you’re growing a blog or website you might be wondering how to gain traffic to your site. The good news is that there are various ways you can drive traffic to your site. The bad news is that almost all of them will require time and effort to gain steam.
One of my favorite ways to gain traffic is by utilizing search engines like Google. Whenever you search through a search engine it will find relevant content to display to you. Search engines are an extremely reliable way to generate traffic to your site to make money online. You’ll need to create your content in a way that is easy to understand by a search engine and be sure to follow all of the guidelines for the search engine to ensure your content gets viewed.
Once you’ve gained steady traffic to your site you can start to monetize it through display ads and affiliates like Amazon Associates. Some blogs and websites will do better than others when it comes to affiliate marketing.
For example, a blog in the food niche could be a great way to make money with Amazon Associates because Amazon offers a wide variety of food related products.
If you want to monetize your site with another method – selling products or services can be a fantastic way to build your income.
Selling digital products on your website is a great idea if you’re looking to make money on the internet.
It can take some time to grow your website so don’t give up if you don’t see immediate results. If you’re investing in Google and search engine optimization, be prepared to give your site at least 6 months to grow.
There are many types of blogs that make money – so getting started is the first step!
Invest in Stocks to Make Money on Autopilot
The stock market is one of the best ways to grow your money without working.
Depending on how much money you have to invest – it's possible to earn thousands of dollars each year from your investments.
When you start investing, you'll want to ensure you have the money to lose before investing every penny.
Not sure where to get started?
I recommend using Stash to invest in the stock market. This easy to use platform allows you to invest in all of your favorite stocks, ETFs, mutual funds, and more with a simple user interface. As a bonus, you'll get $5 for completely free just for registering.
Register below to starting making money on autopilot!
Invest in Crowdfunded Real Estate to Make Money
Crowdfunded real estate platforms like Fundrise are an excellent choice if you want to invest in real estate without all of the hassle and headache that comes with owning a rental property.
You'll need some money to make money with this investment, however.
On the bright side, it won’t require much effort at all to make money with this method. Just open your account, link your bank account, and start earning interest on your investments.
How much money can you make?
In short, it depends. It’s completely possible to earn anywhere form 5% to over 10% annually on your investment.
Invest in Real Estate Investment Trusts
If you want to invest in real estate similar to crowdfunding, real estate investment trusts are a great option.
These investments are traded publicly and are treated very similar to a stock or mutual fund.
Just like other real estate investing methods, your returns can be anywhere from 5% to over 10% annually.
Earn Money on Autopilot with Rental Properties
If you're looking for an investment with higher returns, purchasing a rental property can be an excellent way to make money on autopilot.
You’ll need to qualify for an investment mortgage with good credit and at least 20% down payment on your property.
Owning rental properties pays extremely well. It’s possible to cash flow an extra $500 a month in income from your rental.
Another major benefit of owning a rental property is the tax advantages. When compared to other investments, rentals allow you to deprecate the property and thus pay very little taxes on your income.
When it comes time to sell your property, you’ll need to consider the taxes involved.
Earn Passive Income with a High Yield Savings Account
If you want to make extra money each month without having to work for it, utilizing a high interest savings account is a risk free method to grow your money.
My favorite bank account is through CIT Bank. They pay over 5 times the national average in interest.
This is a great option for anyone, no matter how much money you have to save. Join CIT Bank below to get started!
Make Money with a Podcast
Podcasting can be an entertaining way to earn money online.
Starting an online business like blogging or podcasting can be super fun and also quite lucrative. Some of the top podcasters can make millions of dollars each year.
You'll first need to select a niche for your podcast. You'll want to pick something that interests you to avoid burnout.
Once you've found a topic, it's time to start planning content. You'll want to find topics that keep your audience interested and engaged.
Earning extra cash by podcasting comes through a variety of ways. You can use affiliate marketing, advertising spots, and have an accompanying blog to increase your income.
Earn Cash on Autopilot with Online Surveys
Making money online comes in a variety of forms and fashions. Online surveys are one of the top methods many people utilize to earn cash in their free time.
While this method isn't completely passive, some might consider it passive as it can be done when sitting around or during your morning commute to work.
Completing surveys is a good way to make money online given your have a device and internet connection.
If you’re looking for a website with the highest paying surveys, Survey Junkie is your best bet. With this site you can earn over $50 per survey you complete and over $150 for paid focus groups.
Create your free account below to start earning money taking surveys online!
Another great website to earn rewards for taking surveys online is RewardSurvey. When you sign up with the link below you’ll get $30 for free instantly when you complete your profile and fill out your personal information. Who doesn’t want free money??
With this website you can earn extra cash and rewards anywhere with an internet connection. Between taking surveys, watching videos, and earning rewards when you shop – there are plenty of methods to make money.
Plus, when you sign up with the link below you’ll get $10 completely free!
With this website you can earn money and rewards completing surveys, playing games, watching videos, and shopping online.
You’ll get $10 instantly for free when you sign up below!
This is another great website that pays you to take surveys and give your opinion online. This site pays well and I would highly recommend it for anyone looking to make extra money during any free time you might have.
Sign up for Opinion Outpost below to get started!
Sign up with Pinecone Research if you want a reliable survey site that pays decently for your time. This site typically pays around $5 for survey you complete but they can take as little as 5 minutes. Not too bad!
Get Cash Back on Purchases with Ibotta
Sometimes you can make money when you spend money and shop online.
The Ibotta app is trusted by hundreds of thousands of users each year to make money when you shop online or in store.
With cashback apps it literally pays to shop. Plus, when you join Ibotta you’ll get $20 for free! Starting earning rewards and getting paid to shop below!
Make Money on Autopilot Watching Videos
There are some websites that will pay you to watch videos in your spare time. If you're looking for some free money, watching videos is an easy way to make cash.
The pay for this method isn’t the most, but it’s easy so why not give it a shot?
Related: 27 Apps That Give You Free Money
Earn Cash Playing Games
While you won't become a millionaire playing games – it's a good way to make quick money.
Start a YouTube Channel to Make Money
Just like other forms of content creation, starting a YouTube channel can be an excellent method to grow your passive income streams.
If you prefer to work online and get paid for your services, creating a YouTube channel is a great way to make passive income.
One advantage of starting a YouTube channel is that you won’t have to worry about Google changing its’ algorithm – but you will have to worry about the YouTube algorithm.
It’s best to create unique videos that resonate with your audience to grow your channel and make money. You’ll also need to get your audience to watch the entire length of your videos and like them to move up the algorithm.
Social media channels can be motorized with affiliate links, sponsorships embedded into the video, and by selling digital products through websites.
How much can you make by growing a social media account?
Depending on how large of a following you have, it’s possible to make tens of thousands of dollars each month from affiliate links and other methods.
Most people who create content will have an accompanying blog or website to boost the money they can make.
Before starting your account, you’ll want to select a niche that is interesting to you and you have a passion for.
For example, I create content around finances, but you might find gardening or another niche more interesting. It doesn’t matter as long as you can stay motivated to create the content!
Write a Book to Make Money on Autopilot
If you want to make more money – publishing a book can be a creative way to earn passive income.
The pay for writing a book will depend on the number of copies you can sell.
Some authors are capable of making millions of dollars in passive income each year from their books.
Related: 23 Best Income Producing Assets
Use Affiliate Links to Put Your Income on Autopilot
Affiliate marketing is one of the top ways to make money on autopilot for just about anyone. If you can create content – you can make money promoting your links on your sites.
Affiliate links can be promoted in more ways than just websites – you can also promote them on social media accounts or an email list.
How does affiliate marketing work?
Whenever someone makes a purchase through your link, you’ll earn a small commission for facilitating the transaction.
For example, if you own a website that explores travel, you could get paid every time you promote and sell a travel guide.
There are two sides to affiliate marketing – the person creating the content to sell and the person promoting it one their sites. If you can create a strong product to sell, you can make a fortune by partnering with affiliates and sites to promote your product.
Earn Money Selling Courses
If you have a website or or blog that has traffic, selling online courses can be a good way to make passive income.
For example, if you own a website related to meal prepping – you might consider creating a course on how to meal prep. When people join your course you will get paid and make money.
Some courses can cost thousands of dollars to join. Depending on the complexity of your course you’ll want to ensure you price it accordingly.
Sell Stock Photos to Make More Money
Selling stock photos is a fun way to get paid for your love of photography.
With this passive income method you can partner with websites like Shutterstock to sell your photos online. Every time your photos sell on the websites you’ll earn cash for your efforts.
As your portfolio grows, so will your pay.
If you don’t want to use third party websites, you can also opt out create your own website to sell your photos directly. The advantages of this is the ability to limit fees and boost your income. The main challenge is gaining traffic to your website.
How Much Money Can You Make on Autopilot?
One of my favorite things about making money on autopilot is the amount of money you can make. Your income will be virtually limitless when you take advantage of passive income.
For example, if you start a website that grows and gains Google traffic it’s possible to make over $100 a day from your website. If you add in other services and ways to get paid from your site you might be capable of making $200 a day from your website.
By growing multiple passive income streams at the same time you can make an enormous income.
How to Automate Your Money
Automating your income streams can be done through multiple avenues. You might create websites to earn money or you might want to sell online courses.
Either way, to automate your money it’s best to create passive income streams that grow over time.
You'll want to create a plan to make money on autopilot and set up systems to minimize the amount of work you'll need to take part in.
Related: How to Live Below Your Means
What is an Autopilot Website?
Building websites that generate traffic from Google and produce income each month can also be called autopilot websites.
These can earn money through a variety of methods described above such as affiliate marketing, display advertising, or digital products.
Related: Make Money with Digital Real Estate
Final Thoughts on Making Money on Autopilot
Growing your passive income streams is essential to making money on autopilot. By leveraging multiple income streams you can put your money on autopilot and focus less on working and more on the things you desire.
Putting your money on autopilot won't happen overnight, however. It's going to take some time and planning to get your finances to a point in which you no longer have to work.
Do you make money on autopilot? Comment your methods below!