What better income opportunity than one that earns you money while you aren’t working? See if one of these passive income opportunities might be ideal for you.

For many people, the ultimate business model is one that involves passive income. This is money that you earn even when you’re not working, the proverbial golden goose.

While the idea started catching the public’s imagination a little over a decade ago, many people who are 50 or older feel as though they missed the boat on this largely internet-related phenomenon.

3 Passive Income Ideas for Anyone 50 or Older

The good news is that this isn’t remotely the case. If you have an internet connection, there still remains some very easy ways of making money, even when you’re not actually hard at work.

1. Rent Out Your Extra Space

If you own your home and you have a spare room, you have a rental property. Thanks to Airbnb, it couldn’t be simpler to find a short-term renter. This site connects people who need a place to stay while they’re in town with those who have extra space. Instead of paying for a hotel room that may cost more and/or not offer the features someone is looking for, they pay to stay in someone’s home.

You can decide to rent out a single room or your entire house. It’s up to you. Literally, all you have to do is sign up with the site, post pictures of your space, and choose what you’ll charge. You also have complete control over approving potential guests.

It might sound too easy to be true, but people have made six figures with Airbnb, so don’t be so quick to ignore its potential.

2. Sell Your Stuff

Another really easy option is to simply sell your stuff online. Everyone is familiar with eBay, but there are plenty of other options nowadays, too.

You also don’t have to sell only the things you already have. For example, if you have a talent for creating homemade crafts, Etsy has a giant marketplace waiting to buy your products.

Now, obviously, there are fees involved with this, but the fulfillment by Amazon setup makes it worth it. You can even buy products from China and sell them on Amazon, including custom-

Another huge opportunity is Amazon FBA. The way it works is you send your products into Amazon. They store your products in their warehouses, and once someone orders, they handle sending out the item. Many founders are creating so much passive income from Amazon that they partner with the eCommerce giant to help fund their growth.

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3. Publish an eBook

Finally, Amazon is also a great site for those who want to make a passive income by publishing their own eBooks.

Think of something you could teach other people. It might be something related to your current or previous career. It might have to do with your favorite hobby.

Write your book in a Word or Google document. Hire someone on Fiverr to convert it into an eBook and then hire someone else to do your cover art. Both are very affordable. Once you’re done, upload it to Amazon and enjoy the profits.

Some Hard Work Required

Although passive income involves making money even when you’re not working, that doesn’t mean there won’t be some work to do at first.

A lot of people fail to ever create a passive income source because they have a hard time making this distinction and simply drag their feet.

Even something as simple as renting out space in your home is going to take some work to do successfully. You need to stage your home for perfect photos and set up an account.

If you put in the effort now, the residuals will definitely be worth it.

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Reviewed March 2024

About the Author

Megan Totka is the Chief Editor for ChamberofCommerce.com. Chamber specializes in helping small businesses grow their business on the web while facilitating the connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide.