Google uses AI Another modern way to create somewhat-passive income is to monetize your website or other social media status. Neither is totally passive, as they both require consistent new content to attract traffic.
Scenario one: you have a blog or website that has a consistent audience visiting it. There are multiple ways to monetize in this scenario. First, you could incorporate affiliate marketing. This is when you have an agreement with a company to be compensated when you are responsible for a sale.
A second method would be to utilize advertising. A prime example of this is Google Adsense. Google uses AI to search your site and determine which ads to place to get people to click.
Scenario two: You have a large Instagram (or other social media account) following. You can enter agreements to with product company for placement in your pictures. No need to necessarily advocate for the product, although that is worth more.
Founder of a fee-only, ethical investing firm. We specialize in assisting millennials tired of traditional financial advisers.