Imagine if you didn’t have to do anything and still made money. Sounds too good to be true right? Well, it's very much real, and you can earn money without regular effort through passive income. In the context of Bangladesh, there are quite a few passive earning opportunities. However, all ways may not be suitable for everyone. Some earning methods might require you to know certain technical skills to get started. In this article, we will discuss some of the best passive opportunities for Bangladeshis in 2021. Active Sources of passive income in Bangladesh Create Mobile Application With over 47.5 million active internet users in the country, monetizing your internet skills can be a good source of passive income. One of the internet-based earning sources that don’t require active labor is making an application for any of the mobile operating platforms. The limitation here is that you need to be well versed in programming and technical knowledge of app building. A good application can reach a wider demographic for you and that, in turn, can create a huge revenue stream. Maintenance and updating the application doesn’t require regular effort and you can easily add a significant amount through this income source. Read Small Business Ideas for F-commerce Startups in Bangladesh during Pandemic Affiliate Marketing Compared to other forms of online passive income, affiliate marketing will provide you with the highest revenue. Considering the pandemic where many people have lost job, this passive income source can even become a primary source for many. If you have a website, you can start publishing reviews of products from Amazon or other leading e-commerce platforms. You will sign up as an affiliate marketer for these platforms and the more people redirects from your website, the more commission you will earn. If you are willing to put in the initial efforts, this can be a steady and stable passive income source. Read: What Is Passive Income? Pros and Cons of Passive Earning Niche Based Blogging Blogging is one of the more common and widely used passive income sources not just in Bangladesh but across the globe as well. The technical skills to start a blog are nominal, and you can get started with a very little investment. You can focus on a specific niche and create blogs that will attract the customers of that specific niche. However, this is not a shortcut way to make a passive income. It takes 6 months to a year of regular input for your blog to get significant traffic that will generate revenue for you. There is a requirement for regular content on your blog which is well optimized for the search engines to drive traffic. Once you have gained steady traction, it becomes an easy source of perpetual return. Read How to Create a Personal Website on WordPress Selling Your Skills If you are an expert in a certain topic, you can create guideline e-books or video tutorials on that topic. The pandemic has ushered us more into digital learning and now is the best time to get started on online mentorship. You can sign up for your course at any of the leading skillshare platforms. The initial effort here is to create the content for the course. After that, as more and more people sign up for your tutorial and content, you stand to generate more and more revenues. And the best part is that there is no limitation to it. You can continue to earn as long as people sign up and if the content is good, there will never be a shortage of clients. Read Best Job Searching Websites in Bangladesh Rental Opportunities Perhaps the most common form of passive income around the world is rental income. There are all sorts of rental income opportunities ranging from property to products to vehicles. Renting property is something that is widely seen in Bangladesh. If you own a piece of land or real estate, you can lend or lease it to tenants and create a perpetual income source. However, the issue with renting property is the significant capital investment. If you don’t already own or inherit property or if you are someone getting started with passive income, it is almost next to impossible to generate the capital required for property ownership. However, there are other rental opportunities of different types that require significantly less capital. This strategy of passive income is best suitable for people who already own a property or have the significant means for acquiring property. Read Zero Investment Business Ideas to Try Amidst the Pandemic Investing in Stock Investing in the stock market is another common passive earning opportunity. It is possible to invest a sum of money in a stock and monitor the growth passively. Earnings will generate from the annual dividends. You can also opt to sell your share at any time as per your preference. You have complete control over your investment and if your invested share does well, you stand to make a good passive income out of it in no time. However, investing in stock isn’t for everyone mainly due to the risk involved in the process. The stock market is highly volatile and if you are someone who’s getting started with the stock market, it becomes hard for you to assess the trend of the market to understand whether it's going to go up or down. Even the most seasoned investors can lose a hefty sum any given day. The risk factor combined with the initial capital investment requirements often deters people from getting started on the stock market. Read How to Get Hired for Online Writing Jobs Fixed Deposit in Bank In contrast to the risk associated with the stock market investment, the fixed deposit or FD is a completely risk-free option for those looking to generate a passive income source. In Bangladesh, the minimum FD starts from BDT 10000 to BDT 50000 and there is no upward limit. Compared to the stocks, the return on FD is much lower, but it is an effective and truly passive income source. Unlike the stocks, there is no risk factor involved and you get a perpetual return starting from 2.5% and going all the way up to 9.0 % depending on the bank. Fixed deposits can be a perfect choice for young professionals and students looking to make a risk-free investment with a perpetual passive income. You can opt for a Fixed deposit starting from 1 year to a maximum of 5 years. A higher year count will result in increased return. Read Quarantine Income Opportunities: How to Earn Money during Lockdown Period? Final Thoughts To be honest, nothing comes free and even passive income requires some form of intellectual or capital investment. Some are easier compared to others and some even hold risk over your investment. But in general, initiating a passive income source will give you more monetary independence which is always welcomed. The most important thing is to choose the way that can really work for you. Depending on your means, you can choose any of these if you are in Bangladesh and sooner or later you will start seeing returns.  Read Work from Home, Earn and Be Your Own Boss

Sometimes, saving just isn’t enough when bills begin to pile up. Even with the best strategies to put into place, stashing a decent amount of money aside could go sideways if an unexpected expense surfaces. This is where we start to see the allure of passive income and how incorporating it can let you breathe easier. There are many misinformative sources online that steer consumers away from the true representation of passive income; what that, here are the pros and cons of passive earning and how you can start today. What Is Passive Income? As the name suggests, passive income is when one generates regular earnings without being directly involved, Enterprises that support this scheme include partnerships, rental properties, and more. The term “being directly involved'' is sometimes misinterpreted as “doing nothing”. It may confuse people with the ideas of get-rich-scheme. In other words, this concept may push people into unrealistic thoughts that might be a way of income that exists without the need for any effort. This couldn’t be further from the truth. While not the primary source of income, passive income requires upfront work. This could mean house maintenance when renting property or research and preparation for e-commerce sales on platforms such as eBay or Amazon. Investments are probably one of the biggest examples of this style of earning, but it does entail risks that are out of your control. Keenly observing the market trends and making assessments to double down or withdraw are efforts that still require some level of participation. Read Zero Investment Business Ideas to Try Amidst the Pandemic Pros of Passive Income Utilizes Valuable Time When working in a full-time environment that doesn’t quite give enough time for much else, earning a little extra on the side is immensely difficult. This is where passive income becomes a miracle in its own right and allows for slow, but steady earnings (after the upfront labour has been done, of course) while not having to be physically or digitally present constantly. Time is a precious commodity and working two jobs can be too taxing for those with additional responsibilities outside of work. Reduces Stress and Worry If your current profession isn’t quite paying you enough to meet the bare minimum requirements of your expenses, passive income will help generate extra revenue to keep you afloat. Since passive income is constant, it is a good way to divert your worries over to the advantageous prospect of having multiple sources of income. If working two jobs is unrealistic, having this method of earning on top of a full-time career is the best possible way to squeeze in as many earnings as possible within a set amount of time. Read How To Be A Popular Instagram Influencer Allows You To Pursue Your Passion This point is a mix between the previous two. As a result of having more time and a headspace free from worry, you have wider slots open in your everyday life outside of work to cultivate the passions you never were able to get around to doing due to either monetary or time constraints. Pursuing passions may not necessarily be cheap, and having passive income lets you have the flexibility to commit to costlier hobbies without compromising your ability to save. Flexibility Of Location These days, passive income is primarily done digitally, which means that you are not rooted in an area to oversee this aspect of your earnings. Disregarding the logistics of full-time jobs, the ability to earn passively can easily be done on the go as it requires far less maintenance. Regardless of whether it is business trips or on vacation, having constant income flowing in once again shows the reliability of passive income. Read Tips and Tricks to Increase YouTube Subscribers organically Cons of Passive Earning It Needs Patience Passive income is best used as a “side hustle” rather than your main source of income. When talking about upfront labour that is required to get a revenue stream started, many underestimate how daunting of a task it can be at first. The part that arguably takes the most time is finding an avenue of passive income that is reliable and consistent. Ecommerce for example can be reliable, but only after your product has properly been marketed and develops a stable following. Additionally, being kept up with market trends in the respective industry you choose is unpredictable, and seeing beneficial returns with investments will have many unforeseen variables that can occur anytime. Read How to Earn Money from Facebook You’re Mostly On Your Own Unlike a full-time gig, the atmosphere of bosses, colleagues, and a nurturing environment are non-existent when pursuing passive income. Doing this means that you will be calling all the shots in the direction of your strategy to earn revenue on the side. Whether it is through investments, social media content, or rentals, the initiative will have to come from your own proactivity during your free time. If the motivation isn’t strong, maintaining this alternate method of income may be tricky. Cost If there was no cost and risk assessment associated with passive income, then it would be a default choice for anyone to partake, regardless of career status. Bonds, eCommerce, social media, cryptocurrency, and more involve initial spending in order to get the ball rolling. This element of risk-taking may not be to everyone’s liking, but these risks can be reduced depending on which industry you have your sights on at that point in time. The cost does not necessarily have to be large to see some results coming in, but it all adds up eventually. Read How to Earn from Blogging Verdict Passive income requires a lot of commitment, despite not demanding too much time and cost involved. It isn’t a “get rich quick” scheme by any means and any fruit of your labour will be a result of patience and the ability to acclimatise to the market. There is no harm in taking a little risk to kickstart these side projects, but it would be highly recommended to only do so when your full-time career is stable enough. Without a financial safety net, embarking on a passive source of income presents more risks than necessary. Read Work from Home, Earn and Be Your Own Boss