It may be that you have a stable 9–5 job and adequate earnings, but you realize that these earnings may not be enough over time. Thinking about what to do in such cases? It is best to get involved in additional jobs that do not require much of your energy and effort and make way for passive income in your life. At present times, the trend of passive income has become so high that every other person now looks for ways to earn passive income in India such as becoming a POSP agent. So, to help you out, we have curated a list of ways to earn passive income in India.
What is Passive Income?
Passive income as the name suggests is a source of income where you need not actively engage yourself and earn additional income without much inconvenience. According to reports published by Deloitte Global 2022 Gen Z and Millennial Survey, about 51% of Indian millennials now have passive income sources which indicate its popularity as well as importance. But, to generate passive income, you must first be aware of the best ways to earn passive income in India.
Top Ways to Earn Passive Income in India
Listed below are the best ways in which you can easily earn passive income:
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Become a POSP Insurance Agent:
A POSP or point of sales person is one who is involved in selling insurance policies. To become a POSP insurance agent, you need to complete a mandatory exam by IRDAI and a 15-hour training session. It is a good way of generating passive income because you don’t need to be actively involved full-time and can sell insurance policies in your free time. Moreover, the best part of becoming a POSP agent is that there is no investment required in the process, you just need a smartphone and a stable internet connection. It is important to note that the more insurance policies you sell, the more passive income you can generate by becoming a POSP agent.
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Rent Your Property:
Renting your property is one of the best ways to generate passive income from anywhere. You can rent your property to any tenant, and based on the property size and location, you will be able to earn money without actually being involved in the process. You can even rent out your car to anyone who requires it for some time and generate income through the process.
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Invest in Mutual Funds:
Another way in which you can earn is to do an investment in mutual funds. By investing in mutual funds, you will not just be able to diversify your financial portfolio but will also be able to earn income with a suitable investment amount.
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Freelancing:
Last but not the least, you can also get involved in freelancing in the domain you are interested in. For example, if you are interested in teaching, you can give online tuition or if you are good at writing, you can get involved in freelance content writing. Thus, freelancing opportunities will give you the best way to earn income without having to actually invest anything.
Wrapping Up
Thus, now that we have listed some of the best ways to earn passive income in India, it must have become easier for you to pick the desired one.