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How to Invest 100k for Passive Income
Last modified: April 6, 2022
If you have $100,000 how would you invest it? You could invest it into passive income to allow you to build life-long earnings. In this article, we advise on how to invest 100K for passive income. It will cover what to buy, what to invest and how much to save to ensure that you can live until your business takes off.
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Get a Free Custom Shopify Store | ||
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BoosterTheme.com
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Debutify
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Symmetry
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Palo Alto
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Korando
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Atlantic
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Mavon
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Grid Theme
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Everything
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Retailer Multipurpose Fastest Converting Shopify Themes
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Luce
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Polaris
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| 13 |
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Pop
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Plain
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Shoptimized™ - Highest Converting Shopify Theme
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Jumpstart
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Step One: Keep a Reserve
The first thing to do is to keep a reserve. This is important because you want to ensure that you have enough funds to ensure you can live for 3-6 months without having to be short of cash on a month-by-month basis.
This can be hard to determine, but calculate all your expected living costs in a 3-6 month period and then put that to the side.
Step Two: Domain and Hosting
Now you should invest in a domain and hosting. Hosting can be easily done on Shopify. You can get a 14-day free trial and also have access to a wide variety of apps and other aspects that allow you to build a good store for passive income.
A domain is also relatively cheap. You can pick these up for less than $10 in many cases.
Step Three: Choose Products
Now choose the products that you would like to sell. Ideally, you want to move into a digital download, ebook, dropshipping or affiliate marketing. All of these are considered really good passive income generators.
Step Four: Theme
Now you need to buy a theme for your website. It is highly recommended to choose either Booster or Shoptimized as both of these themes load within less than 0.6 seconds. This is fast and will improve conversions.
Step Five: Apps
There are numerous apps that you should consider for your website. Vitals is a great app that you should look to use on your website. It is highly effective and has more than forty functions for you to add to your website.
You might also need to use Oberlo if you want to do dropshipping.
Step Six: Invest in Marketing
Now you need to invest in your marketing. You should get copywriters to create you lots of content. There are numerous ways that you can reach copywriters. This is vitally important because websites with lots of content will rank higher than those without any content.
In addition, ensure your website is matching the best SEO practices and advertise your new brand on social media. Buying page promotion on Facebook is a great way that you can improve your reach on the platform.
In all, you might want to invest about $10,000 in your marketing.
Step Seven: PPC
You might also want to invest some time into your paid ads. PPC is very expensive but you can build an effective lead generation.
Step Eight: Email Marketing
Now you need to build effective email marketing processes. This can be done with some apps that can collect email addresses and send campaigns out to your subscribers. Email marketing has one of the top ROIs. For every $1 you invest here, you can get back between $38 and $44.
One of the best options is to create a drip-feed campaign.
Final Word: How to Invest 100k for Passive Income
Above is how to invest 100K for passive income into a new or existing business. There are so many options, but it is important to spend most of the money on marketing activities to build your brand’s reputation quicker.
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