Make Money While You Sleep: 12 Good Ways To Choose From
According to Warren Buffet, one of the world’s richest billionaire and one of the most respected finance guru: “If you don’t find a way to make money while you sleep, you will work until you die.”This is a piece of financial advice worth taking to heart as practicing it can impact you and your family’s entire life.
Although you can literally make money while you sleep, you still need to do some preliminary steps in order to do so, like putting your money in the bank before you sleep so you would earn interest while you sleep.
Here is a list of other things you can do to earn money while you are sleeping:
Note: This information was taken from some of my actual moneymaking experience and from websites about wealth creation.
Summary of “Make Money While You Sleep: 12 Ways To Choose From”:
1. Stocks, Bonds, Mutual Funds…2. High Yield Savings Accounts
3. Wines
4. Real Estate Investment Trusts (REITs)
5. Digital Products
6. Live-Stream Yourself Sleeping
7. Rentals
8. Print-on-Demand
9. E-Commerce and Dropshipping
10. Email Marketing
11. Cloud Mining Cryptos and NFTs
12. Self-Service Businesses
Final Words
The Details:
1. Stocks, Bonds, Mutual Funds…
This is a wealth creation strategy almost as old as time. You can invest in stocks, forex, bonds, mutual funds, index funds, mutual funds, and so on. Newer forms of financial instruments are crypto and NFTs.
These financial instruments have been in use for ages and many people have gotten rich off the interest they made from these financial instruments. You can literally invest now, sleep for days up to decades and watch your earnings grow.
However, its not as easy as putting money in these financial instruments, sleeping and watching your money grow. It takes a bit more work.
First, you have to make sure that you are creating sound investments and are not dealing with very speculative financial instruments. Otherwise, you might lose money instead of earn money while you sleep.
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2. High Yield Savings Accounts
A safe and non-speculative form of financial investment would be to put your money in the bank where it would earn a little interest.
However, the interest you earn from savings account are so small that they are basically offset by bank fees and inflation. But what to do?
Banks offer higher yielding savings accounts which are just as safe as normal savings accounts. The caveat is that you have to agree that the bank would hold your money for a longer period of time without you ever withdrawing it, otherwise you forfeit your earnings.
This could be a good financial instrument for you if you have very low tolerance for financial risk, but have excess money that you don’t need to access for a very long time.
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3. Wines
A newer form of financial instrument that has gotten popular over the years is wine investing. Over the last 20 years, wine investments have outpaced even the US S&P 500 while still seeing less overall volatility.
But if you are investing by yourself, it could prove to be a big challenge. For one, you would have to be very knowledgeable in wines. Also, since investment grade wines are hoarded for a long time, your money is tied in for the long run with this kind of investment.
If you are a novice with this kind of investment, its better that you use a reputable wine investment firm to handle your investments for you.
Also, wines can be notoriously hard to store. From the right temperature, exposure to sunlight, to breakage; a lot can happen to a bottle of wine which could ruin your investment off it.
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4. Real Estate Investment Trusts (REITs)
Another newer form of financial instrument that has gotten attention lately is Real Estate Investment Trusts or REITs, which are considered the mutual funds of real estate.
REITs are a collection of properties handled by a company funded by investors. These properties can be anything: apartments, business complexes, condos, malls, and so on.
REITs pay you dividends from your share in the investment pool. This is an ideal financial instrument or investment for anyone interested in real estate investing but don’t want the hassles of actually owning real estate.
They are also considered by many as sound investment. This is because real estate values tend to increase as time goes by.
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5. Digital Products
Digital products are considered investments by many because for the most part, you only need to produce them once but you get to earn from them almost infinitely.
Since digital products exist on computers, your entire digital products business can even be automated such that you can literally make money while you sleep. You can just count your earnings when you wake up.
These are some examples of digital products:
- App
- Audiobook
- Blog
- Courses
- Digital Images
- eBook
- Music Audio
- Podcast
- Software
- Sound Effects
- Streaming Content
- TikTok and/or YouTube Video
- Webinar
Here are some examples of how you can earn money from digital products:
- Actual Payment
- Ad Revenue
- Affiliate Marketing
- Commission
- Donation
- Endorsement
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6. Live-Stream Yourself Sleeping
This one might make you smile or even laugh, but you can actually earn money while you live-stream yourself sleeping. There are TikTok content creators who do this and are earning money.
If you don’t feel uncomfortable letting people watch you while you sleep, this might be a way for you to earn money.
Take note however, that the people watching you while you sleep might actually talk with each other while you are sleeping.
But this is nothing new as shows like Big Brother have actually let people watch other people doing their normal routine like sleeping and much, much more.
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7. Rentals
If you have space in your home or in your other properties, you can rent them out. This could be as small as a room in your house to as large as your spare home or garage.
There are two kinds of renters you would get. The first one are renters who are looking to rent a space that they can rent. The second would be renters who want a storage space for their belongings.
You can also rent out your possessions such as your cars, electric tools, computers, swimming pools, and anything else that your customers would want to rent.
This is literally earning money while you sleep. But for this kind of investment/business to earn you money, you should actually have possessions, especially real estate.
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8. Print-on-Demand
This is not strictly waiting to earn money while you sleep. Rather, this is about waiting for customers to come to you while you are sleeping which in turn earns you money.
You could upload online your cool graphic designs and photos and wait until customers request that you sell them t-shirts, bags, mugs and other products containing your graphic designs and photos.
With this kind of a setup, you don’t need to invest in t-shirts, bags, mugs, and so on. You only wait until you get orders from your customers. Only when the orders do come in that you print your cool graphic designs and photos into t-shirts, bags, mugs, and so on.
You can even have a setup where another company does all the job for you (See Dropshipping later on). In effect, you can literally sleep and let your online presence do all the marketing for you.
The beauty of this business is that you can even participate in referral schemes and earn via commission from other print-on-demand companies.
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9. E-Commerce and Dropshipping
You can also sell in e-commerce stores. This is another example of not strictly earning money while you are sleeping, but letting your online presence do all the marketing for you while you sleep.
Of course you still need to pack up the orders and arrange deliveries for them, but for the most part, your online presence has already done all the marketing and selling for you and you just need a bit of work to earn your money.
Or, you could almost entirely automate your business by doing Dropshipping, which is a business setup where a company assigns other companies to manufacture and deliver products to the customers on their behalf.
For example, there are US online sellers who are making good money by sourcing their products from Chinese companies who do all the manufacturing and deliveries for them.
I have an article titled: "Ramon Van Meer: A Millionaire by Flipping Websites And Pet Products” which is an excellent example of an American online seller who has become rich off dropshipping.
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10. Email Marketing
You can also sell both digital and physical products by marketing these products via email or what is known as email marketing.
You can automate your email sending process such that your business continues to send emails even while you sleep. Although this does not translate to automatically making money while you sleep, at least you can market your products while you sleep.
The beauty of email marketing is that your customer list is yours and yours alone. This is unlike using other popular online selling platforms like Facebook, Etsy, Amazon, eBay, and so on, where you can be banned and as a result, you lose your entire customer list.
Also, it should be noted that unlike popular online selling platforms, you can customize the appearance of your selling materials as much as you want, provided they fit an email format. Your marketing email can look like a catalog, a brochure, and so on.
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11. Cloud Mining Cryptos and NFTs
This form of business/investment is most suited to those with computer expertise or knowledge. This requires creating computer programs that would “mine” out cryptos and NFTs.
Crypto stands for “cryptocurrency” and NFTs stand for “Non-Fungible Tokens”, both of which are secured by blockchain networks.
To do cloud mining, you need to invest in expensive computer equipment and pay for expensive electricity bills. In short, you need a lot of capital to do cloud mining.
Since you would be working using computers, you can literally automate your entire cloud mining operations and make money while you sleep.
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12. Self-Service Businesses
Food Vending Machines, Ice Vending Machines and sometimes even laundromats are good examples of self-service businesses.
You only need to place these machines in accessible places and wait until customers use them.
Although not glamorous or even high-tech, they nevertheless are true examples of businesses where you can make money while you sleep.
There are many entrepreneurs who have built million dollar business empires by simply supplying these kinds of machines that dispense food and other items; or do some other service to customers.
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Final Words
As enumerated, there are many ways to make money while you sleep. These involve investing money on various financial instruments to earn interest money and setting up businesses where your marketing and order processing is automated so you make sales while you sleep.
It might also involve selling various digital products, mining crypto & NFTs and by letting self-service machines do the selling, storage and product disbursement for you.
But even if you can make money while you sleep, you still need to do a bit of work before and/or after you “sleep”.
Strictly speaking, you cannot just sleep and earn money. You have to work for money. This might entail working as an employee and/or becoming a businessperson and/or becoming an investor, but it is entirely possible to make money while you sleep.
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