6 Clever Ideas to Make Money While You Sleep

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend.

Woman lounging on the beach
PIXA / Shutterstock.com

We all could use a little extra money in our lives, right? But who has time for a second job after working, parenting, and trying to squeeze in a social life?

The solution is earning passive income: making money from things that don’t require huge amounts of time and effort. Even with a small initial investment, you can put systems on autopilot to generate cash flow.

Here are 5 tried-and-true passive income ideas that are surprisingly simple to implement. With a little time and a bit of effort, you can earn regular payouts month after month by doing next to nothing.

Intrigued? Read on! Keep in mind that not all these ideas may work for you, but some will. So read the entire list.

1. Get a second set of expert eyes

Do you know if your financial advisor is actually working in your best interest and at the top of their field? The barrier of entry to call yourself a financial advisor is incredibly low.

So much of the “wealth management” industry is a glorified scam. Too many financial advisors offer cookie-cutter plans, push high-fee products, and sell insurance that earns them kickbacks.

However, a free service called Zoe Financial can connect you with qualified financial advisors who have been rigorously vetted. Zoe only works with unbiased fiduciary advisors who will act in your best interest and offer a true white-glove service.

A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial advisor. That’s twice as much!

If you’ve got at least $150,000 in investments, Zoe will review your financial goals and match you with a curated selection of advisors. Then you can schedule a free consultation.

2. Don’t put all your eggs in one basket

If a large part of your savings is in the stock market — as it should be — you’re well aware that what goes up can also go down. You can’t control the market, but you can hedge against uncertainty by having other forms of wealth.

One of the best ways to protect your savings is diversification. Keep money in different types of investments, ideally ones that go up when others are going down. For example, stocks tend to do poorly when inflation and interest rates are rising and there’s political turmoil brewing.

But there’s one investment that thrives in this scenario: gold.

Be careful who you deal with, though. Some companies in the gold business are shady and won’t hesitate to sell you gold and silver at vastly inflated prices.

Rosland Capital, on the other hand, has been seen on Fox since 2008 and is recommended by William Devane. They have an A+ rating from the Better Business Bureau and an AAA rating from Business Consumer Alliance. They offer just about everything, from precious-metal IRAs to gold coins and gold bars.

You’ll even receive up to $15,000 in free gold on qualified purchases. If you’ve ever thought about investing in gold, why not take a look?

3. Protect your family and your future now

Here’s hoping your retirement years are active, healthy and vibrant, and that you’re able to function as you always have, right up until the time you shuffle off this mortal coil.

But don’t bet on it. According to the U.S. Department of Health and Human Services, 7 in 10 people who turn 65 today will probably need some kind of long-term care.

“But won’t Medicare take care of all that?” Nope. Medicare doesn’t cover long-term custodial care — and paying for it out of pocket could take a huge chunk of your retirement savings. That, plus inflation, could mean near or total depletion of your nest egg.

Without long-term care insurance, your options aren’t great: running through savings, borrowing money, burdening your family with your care, and possibly losing independence because you can’t live on your own.

One place to find long-term care insurance is GoldenCare. (Unless you live in the four states where GoldenCare doesn’t operate: Alaska, Florida, Hawaii and Washington.)

At least check it out and see if it’s a fit. Because planning now could mean a more secure tomorrow.

4. Invest in real estate for $10

Real estate has long been a path to wealth. But you need to be wealthy to get started, right?

Wrong. For as little as $10, Fundrise can get you started. Fundrise lets you buy into real estate properties the same way stocks let you buy into companies.

In effect, you’re a landlord without having to run background checks or serve eviction notices. While not a guarantee of future results, Fundrise investors have earned an average of 25% within three years; if they held on for five years, the increase was more than 50%.

People are always going to need a place to live — and recent rent jumps make real estate investing more profitable. Rent prices went up almost 17% in 2021, according to data from Harvard’s Joint Center for Housing Studies.

Take two minutes and check it out.

Note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on moneytalksnews.com. All opinions are our own.

5. Save up to $600/year on your phone bill

You can’t survive these days without a smartphone. But what’s not so smart is paying big money to the heavily advertised companies you see on TV.

Finding a more affordable mobile provider could save you hundreds every year. And there are plenty of companies offering premium features without the outrageous price tag. You can find plans for as little as $5 a month.

One example: With Tello Mobile you get T-Mobile’s reliable 5G network, generous data, international texting, unlimited U.S. calling, eSIM support, and hotspot access for as little as $5.

Switching is faster and easier than you think, and the savings are huge. So stop financing some CEO’s third vacation home and check out Tello today!

Bonus: Tello just upgraded their phone plans, increasing the data and decreasing their prices. You can get Unlimited for $25/month. It comes with 35GB of high-speed data and 5GB of free hotspot.

If you’re unwilling to switch, at least study your bill and see if you can cut out unneeded lines, downsize your data plan, or drop the insurance if you have an older phone.

Get smarter with your money!

Want the best money-news and tips to help you make more and spend less? Then sign up for the free Money Talks Newsletter to receive daily updates of personal finance news and advice, delivered straight to your inbox. Sign up for our free newsletter today.