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Friday, June 21, 2024

How to Start Your Asset-Based, Passive Income Side Hustle

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More than half (54%) of Americans say they’ve started a side hustle to supplement their primary source of income in the past 12 months, according to a MarketWatch survey. These days, just about anyone can find a side hustle that suits their lifestyle, talents and interests. Use a cherished family recipe to make a sweet snack. Turn your collector’s hobby into a resale business. Overcome your creativity block with a service that helps other people do the same.

But starting a side hustle with the potential to become a full-blown business often means substantial investments of time and capital upfront, and there’s something to be said for a side hustle that requires minimal effort — the kind that’s such a no-brainer that not doing it is tantamount to flushing money down the drain. One sure path to passive income success? Take advantage of assets you already own.

Related: 15 Weird and Wonderful Side Hustles You Never Knew Existed

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