It’s far better to have autopilot income streams, coming in automatically, than be relying only on trading time for money in a job. A job is good for a stable, secure income. But autopilot income streams are good for creating more freedom.
With a job or career, you’re ultimately limited as to what you can earn; plus, when you stop working you stop earning too. With automation and multiple streams of income (which come in continuously), you can stop working and still keep those “trickles” of income coming in. Here’s a few strategies.
Autopilot Income Streams – Stocks & Shares
Stocks and shares are a long term investment but also a way to make your money work for you. With dividend paying stocks you get payouts based on the stocks you hold. Of course you need to invest first in stocks which payout, in order to use this as an autopilot income streams tactic.
You can also simply invest in other stocks and shares in order to grow your investment and money. However, many stocks and shares don’t payout dividends so in order to get money out, you’ll need to jump in and out of the market. The longer you hold stocks for in general, the more you will benefit from the gradual rise in their value. But dividend paying stocks are a good way to create a simple income stream based on what you have invested in.
There’s a great app called MoneyBox which lets you automate the purchase of stocks and shares using round ups of your daily spendings. Moneybox is a UK only app but there’s a international app which is similar called Acorns.com.
Both these apps allow you to connect your bank to the investment app. When you spend money through your debit card, the amount is rounded up to the nearest pound or dollar and your change is automatically placed in your account. See also autopilot money making apps.
Autopilot Income Streams – Online Business
An online business is another way to generate autopilot income streams from anywhere. All you need is a laptop and internet connection. There’s several online business models which allow you to create autopilot income streams:
- Affiliate marketing – selling other people’s products
- Drop shipping – Similar to affiliate marketing with physical products
- Earn from advertising revenue on your content – e.g. from Google Adsense
- E-commerce – buy and sell online
Of of the most popular strategies is affiliate marketing because of the simplicity of the business model. As an affiliate marketer, you refer people to products and services on the internet. When you make a sale you earn a commission.
Some of the best affiliate strategies to create an autopilot income from are:
- Using high ticket recurring income products
- Promoting a digital product range – which pay the highest commissions
- Choose products with a built in sales team
- Use paid marketing to drive traffic and scale to a global audience
Royalties From Creative Pursuits
Redbubble is a website which lets anyone upload imagery which they have created, and benefit from sales made online.
So if you like designing or drawing, this could be a perfect way to create autopilot income streams from anywhere! Even though a single sale isn’t a massive income, the more content you create and upload, the more money you can make.
And of course this becomes an autopilot income stream.
Foap is another similar site only you get paid for sales of photos and videos which you upload to the site. If someone purchases a video or photo which you own, the site splits the profits 50/50. You can’t say fairer than that!
Blogging For Profit
Blogging is another creative pursuit which can be turned into an autopilot passive income. By creating content on a regular basis through writing on a blog, you can build an audience over time. This can then be monetised in a couple of main ways:
- Through selling your own products from your blog
- Selling affiliate products
- Advertising using a PPC advertising platform such as Google Adsense
Again, much like Redbubble or Foap, the more content you create, the more chance you have of making sales and/or getting visitors to click on your advertising.
YouTube
YouTube is another great platform you can use to create autopilot income streams. There’s a few ways you can monetise YouTube:
- Join their partner program and earn through advertising revenue
- Sell affiliate products through organic traffic or paid marketing
To join YouTube’s partner program there are now some strict criteria and you’ll need at least 1000 subscribers and 4000 public watch hours in the last 12 months. So you’ll need to have been an active YouTube’er for a while to do so.
But many affiliate marketers make a income from YouTube by creating videos and promoting products. To use their paid platform though, you’ll need to have a good business model because it can get expensive. Learn how through this online business system.
Autopilot Income Stream – Recap
So we’ve covered a few ideas for autopilot income streams. Here’s the recap:
- Stocks and shares – Use dividend paying ones for regular payouts
- Get a stock and shares app – Moneyboxapp.com or Acorns.com
- Online business –affiliate marketing, drop shipping, advertising on content
- Creative pursuits – create content such as design and photography and upload to Redbubble and Foap or similar sites.
- Blogging – write content such as this article and monetise with affiliate marketing and/or Google Adsense.
- YouTube’ing – Create videos to drive traffic, join YouTube’s partner program or build content for monetising through affiliate marketing.
Other Considerations
It’s easy to focus on the money making and forget you’re also spending money too. An easy way to increase your disposable income is to know your self and your spending.
- Make a note of your weekly outgoings down the the very last detail.
- Reduce the interest rates on your credit cards and clear your debt
- Stop over spending on things you don’t need
- Know your latte factor – the money you spend regularly on “treats” you can avoid.
- Overpay your mortgage each month and save thousands on interest
- Notice the things you feel you need but could do without
- Are you “big hat no cattle”? – Flashy car, big house, fancy watch?
See also wealth building habits.