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Best Ways to Make Passive Income: 15 Side Hustle Ideas for 2023

Best Ways to Make Passive Income: 15 Side Hustle Ideas for 2023

Money produced through minimal active involvement or effort is referred to as passive income. There are various side business ideas that can produce passive income in 2023, while it can be difficult to truly “set it and forget it.”


1. Dividend Stocks

Invest in dividend-paying stocks or exchange-traded funds (ETFs) that provide regular payouts.

2. Real Estate Crowdfunding

Invest in real estate through crowdfunding platforms, which can offer rental income and potential appreciation.


3. Peer-to-Peer Lending

Lend money on P2P lending platforms and earn interest on your loans.

4. Rental Income

Rent out a spare room, apartment, or property on platforms like Airbnb or VRBO.

5. Create an App

If you have coding skills, develop a mobile app or software that can generate income through ads, in-app purchases, or subscription fees.

6. Write an E-Book

Publish an e-book on platforms like Amazon Kindle Direct Publishing and earn royalties on sales

7. Automated Dropshipping

Use automation tools to streamline your dropshipping business, reducing the time needed for management.

8. High-Yield Savings Accounts or CDs

Park your money in high-yield savings accounts or Certificates of Deposit (CDs) to earn interest.

9. Create a Niche Blog

Build a blog around a specific niche and monetize it through advertising, sponsored posts, and affiliate marketing.

10. License Your Photography or Art

If you’re a photographer or artist, license your work through stock photography or art websites.

11. Invest in a Business

Consider investing in a small business as a silent partner or through a platform like StartEngine or SeedInvest.


12. Create an Online Course

Share your expertise by creating and selling online courses on platforms like Udemy, Teachable, or Coursera.

13. Affiliate Marketing

Promote products or services through affiliate links on your blog or social media, earning a commission on each sale.

14. YouTube Channel

Start a YouTube channel on a topic you’re passionate about and monetize it through ads, sponsorships, and merchandise sales.

15. Dropshipping

Set up an e-commerce store and partner with suppliers to ship products directly to customers, avoiding inventory costs.

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