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24 Things You Can Do to Build Wealth While You Sleep

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Warren Buffet, the legendary investor worth billions of dollars, once said, “If you don’t find a way to make money while you sleep, you will work until you die.” Since we can all learn something from Buffet’s success, today’s the perfect day to learn an essential financial skill. Building wealth while you sleep can turn any financial situation into an overnight success story. There are countless ways to build the wealth all of us desire.

1. Go Big With Growth Stocks

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I’m addicted to checking my E-Trade app every morning when the markets open. The rush of adrenaline I feel when my portfolio makes a considerable jump overnight is second to none. Many men and women go all-in on growth stocks, emphasizing tech companies like Amazon, Nvidia, and Alphabet. While it can be risky, the upside of these growth stocks can deliver monetary gains without you lifting a finger.

2. Be a Landlord

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We’ve all felt we could be a better landlord than the ones that have lorded over us throughout our lives, haven’t we? Well, considerable passive income is available if you aspire to be the best landlord you can be. Owning commercial or residential real estate is a full-time job, but there’s nothing like the feeling of a monthly rent check being deposited into your account while you sleep.

3. Collect Ad Revenue

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If you have your own website (personal or otherwise), you’re leaving money on the table by not placing ads wherever possible. While millions of internet users install ad-blocking software on their web browsers, countless users (our parents, mostly) still subject themselves to endless streams of advertisements. Capitalize on that fact by monetizing your website and receiving much-deserved pennies on every click-through.

4. Invest Long-Term

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Although there’s nothing sexy or exciting about it, investing your hard-earned money into sensible mutual funds is one of the most efficient ways to earn passive income in 2024. Your diverse portfolio protects you against one individual stock tanking your nest egg while still giving you plenty of upside. Fortunately, investing in a mutual fund through most major banks’ smartphone apps is easier than ever.

5. Affiliate Marketing

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Participating in affiliate marketing makes me feel a little icky, but I can’t deny it’s an excellent way to bring in passive income in 2024. Setting up a blog or YouTube channel is one of the tech-savviest ways to start affiliate marketing. You can also go the old-school route and get in the good graces of a multi-level marketing program. If you’re passionate about selling goods, there’s no reason why you shouldn’t get a little kickback from people who buy it using your link or recommendation.

6. Collect Royalties

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Sometimes, successful wealth building can result from something random, like recording a song in your bedroom that unexpectedly becomes a hit. If you’re musically inclined, releasing original music and uploading it to streaming services like Spotify is another solid option for accruing passive income that compounds while you sleep. However, artists quickly note that you won’t get rich overnight. A successful music career is much more than having a few million listens on Spotify.

7. Open a High-Yield Savings Account

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Although inflation is generally regarded as a net negative for society, no one denies that it’s a net positive for savings accounts. Opening a high-yield savings account is a savvy way to protect your investment while ensuring a healthy return with zero risk. While not all banks offer high-yield savings accounts, they offer one significant advantage over a traditional CD: You won’t be penalized for withdrawing money early.

8. Collect Subscription Fees

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You’re in luck if you run a service for which people are willing to pay a recurring subscription fee. Subscription-based businesses are among the best ways to earn passive income because people are notoriously bad at canceling said subscriptions! Recent research reveals that 42% of people forget to cancel a service they never use.

9. Sell Something

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One of my favorite pastimes is finding something lying around my house I no longer want or need and putting it up for sale on eBay, Facebook Marketplace, or OfferUp. It’s the ultimate “set it and forget it” strategy. I often forget I have anything for sale and am shocked when I get offers for my unwanted items. Talk about a perfect passive income strategy.

10. Lend Money and Collect Interest

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Sometimes, the best way to build wealth while you sleep is by lending money to friends or family (while collecting a healthy amount of interest). There’s nothing wrong with doing things the old-fashioned way. The next time you get a phone call from a loved one asking for money, remember to include the most essential part of the transaction: interest.

11. Operate a Vending Machine

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If you’re like me, you’ve lived your entire life without realizing the dream of vending machine ownership. Think about it: Passive income, unlimited snacks, and the pride of owning a small business. Don’t scoff. According to studies, vending machines can easily create more than $75 in weekly revenue.

12. Outsource Your Freelance Work

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Did you think all methods to earn passive income were legit? You’re wrong. Although I would never do this, many freelance writers outsource their assignments to writers who charge less than they do, ostensibly pocketing the difference. It’s a great way to thumb your nose at the institution of journalism while making excellent money (that’s sarcasm for those keeping track).

13. Rent Out Your Home

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Renting out your home (or individual rooms) is another excellent way to make passive income. Many people take advantage of Airbnb’s platform to earn a lot of money. In this scenario, not only can you make money while you sleep, but when you’re away on vacation, you can also make passive income while your houseguests sleep.

14. Rent Out Your Vehicle

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Refusing to rent your vehicle — especially a second vehicle — is a stubborn way of saying, “I don’t want to make passive income in 2024.” Services like Turo aren’t fly-by-night companies; they’re legitimate platforms that protect you and your vehicle and give you the peace of mind needed to lend your car to strangers. Unless you need a daily driver, you’re leaving money on the table by not letting other drivers use your vehicle.

15. Create an Online Course

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People are always looking to better themselves, so if you have something you want to teach the world, don’t be afraid to monetize it. Creating an online course on nearly any topic is a perfect way to make something lasting that continues to bring in money (if what you have to teach is valuable). Doing so benefits you and the endless number of men and women wanting to learn.

16. Write a Self-Published Book

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Authors rejoice: Self-publishing is one of the most effortless ways to earn passive income in 2024. Platforms like Amazon have user-friendly self-publishing options, and your book (whether virtual or physical) will live in their store forever. Every time a customer purchases your book, you reap the benefits.

17. Sell Stock Photos or Videos

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Anyone with an eye for photography should embrace the opportunity to sell stock photos and videos for websites that host them. It seems every good picture needs to be licensed these days, right? Thankfully, money can be made by selling your photos and videos as stock photos. Even bland B-roll traffic footage can bring in a nice chunk of change.

18. Roll the Dice With Cryptocurrency

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I’m terrified of the volatility of cryptocurrency. That doesn’t mean you have to share my fear, however. Investing in cryptocurrency may be the riskiest way to make passive income while you sleep, but it arguably has the most upsides. Nobody really knows what causes the ebbs and flows of crypto coins, and waking up one day to see a massive return on your investment is a happy thought.

19. Become an Influencer

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If you don’t mind being looked at as a vapid, irresponsible individual, being a social media influencer is another excellent example of how lucrative passive income can be. As an influencer, you can help shape the next generation of men and women to do the least amount of work as humanly possible while still making an impressive amount of money. (In a way, it’s the new American dream.)

20. Rent Out Your Pool

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Some smartphone apps allow you to rent your backyard pool, similar to Airbnb. Although I’m not in love with total strangers using my beloved pool for their leisure, I favor making money off that amenity. I can’t believe the things people will pay money for in 2024.

21. Become a Content Creator

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While being a content creator is easier said than done if you’re an attractive person with a knack for salesmanship, you can do much worse than being in front of a YouTube webcam all day. Whether you’re a game streamer or a lifestyle guru, content creation is the ultimate passive side hustle. After all, the more viewers who watch your videos, the more money you make (even while sleeping).

22. Open a Certificate of Deposit

Certificate of DepositCertificate of Deposit
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As my father says, opening a CD is one of the best ways to make passive income. If you know you won’t need your money for a set period (anywhere from a few months to a few years), opening a Certificate of Deposit with a local bank can yield impressive results. Thanks to higher interest rates in 2024, many CDs earn over 5% over time, which is a fantastic return on your investment.

23. Rent Out Your Parking Space

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If you pay for a monthly parking spot in a city or town and don’t use it as much as you thought you would, then consider renting it out to other drivers. Companies like SpotHero operate like the Airbnb of parking spaces. Users pay to use your valuable parking spot. Somebody else should pay you for the privilege if you’re not using it.

24. Chase Dividends

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Although chasing stratospheric highs in the stock market is alluring, many savvy investors prefer quietly chasing dividends in the form of well-performing legacy stocks. By purchasing stock shares from companies like Exxon Mobile and Verizon Communications, you can ensure a healthy dose of quarterly dividends being deposited into your account. While these dividends are paid out in relatively small amounts, they will add up over time, making them one of the easiest routes toward a dependable passive income.

17 Sneaky Money-Saving Hacks You Can’t Afford to Miss

24 Things You Can Do to Build Wealth While You.webp24 Things You Can Do to Build Wealth While You.webp
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Making minor adjustments to your spending behavior can lead to substantial savings in the long run. However, it’s crucial to identify which habits genuinely contribute to these savings and which do not. One user inquired about the most effective money-saving practice, prompting the compilation of a list featuring the top 17 choices. These habits have proven to be instrumental in helping individuals accumulate significant savings over time.

17 Sneaky Money-Saving Hacks You Can’t Afford to Miss

12 Keys to Embracing a Frugal Lifestyle

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To some, living a frugal lifestyle might be sessions of extreme couponing. For others, never paying full price for anything could be a commitment. But what does it mean to live a frugal lifestyle? Are there general rules to follow, or is there an assortment of ideas you cherry-pick from? The first step is to understand what living frugally really means.

12 Keys to Embracing a Frugal Lifestyle

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Samsung: 6-Day Workweek For Execs, Company in Emergency Mode

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Samsung: 6-Day Workweek For Execs, Company in Emergency Mode

Four-day workweeks might have all the buzz, but one major tech company is going in the opposite direction.

Samsung is implementing a six-day workweek for all executives after some of the firm’s core businesses delivered lower-than-expected financial results last year.

A Samsung Group executive told a Korean news outlet that “considering that performance of our major units, including Samsung Electronics Co., fell short of expectations in 2023, we are introducing the six-day work week for executives to inject a sense of crisis and make all-out efforts to overcome this crisis.”

Lower performance combined with other economic uncertainties like high borrowing costs have pushed the South Korean company to enter “emergency mode,” per The Korea Economic Daily.

Related: Apple Is No Longer the Top Phonemaker in the World as AI Pressure and Competition Intensifies

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Executives at all Samsung Group divisions will be affected, including those in sales and manufacturing, according to the report.

Samsung had its worst financial year in over a decade in 2023, with the Wall Street Journal reporting that net profit fell 73% in Q4. It also lost its top spot on the global smartphone market to Apple in the same quarter, though it reclaimed it this year.

Though employees below the executive level aren’t yet mandated to clock in on weekends, some might follow the unwritten example of their bosses. After all, The Korea Economic Daily reports that executives across some Samsung divisions have been voluntarily working six days a week since January, before the company decided to implement the six-day workweek policy.

Entrepreneur has reached out to Samsung’s U.S. newsroom to ask if this news includes executives situated globally, including in the U.S., or if it only affects employees in Korea. Samsung did not immediately respond.

Research on the relationship between hours worked and output shows that working more does not necessarily increase productivity.

A Stanford project, for example, found that overwork leads to decreased total output. Average productivity decreases due to stress, sleep deprivation, and other factors “to the extent that the additional hours [worked] provide no benefit (and, in fact, are detrimental),” the study said.

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Related: Samsung’s Newest Galaxy Gadget Aims ‘To See How Productive You Can Be’

Longer hours can also mean long-term health effects. The World Health Organization found that working more than 55 hours a week decreases life expectancy and increases the risk of stroke by 35%.

The same 55-hour workweek leads to a 17% higher risk of heart disease, per the same study.

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John Deere Hiring CTO ‘Chief Tractor Officer,’ TikTok Creator

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John Deere Hiring CTO 'Chief Tractor Officer,' TikTok Creator

This article originally appeared on Business Insider.

Agriculture equipment company John Deere is on the hunt for a different kind of CTO.

The brand on Tuesday announced a two-week search to find a “Chief Tractor Officer” who would create social media content to reach younger consumers.

One winning applicant will receive up to $192,300 to traverse the country over the next several months showcasing the way John Deere products are used by workers, from Yellowstone National Park to Chicago’s Wrigley Field and beyond.

“No matter what you do — whether it’s your coffee, getting dressed in the morning, driving to work, the building you go into — it’s all been touched by a construction worker, a farmer, or a lawn care maintenance group,” Jen Hartmann, John Deere’s global director of strategic public relations, told AdAge.

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To kick off the search, John Deere tapped NFL quarterback Brock Purdy (who will presumably be a bit busy this Fall to take the job himself) to star in a clip in which he attempts to set out on a road trip in an industrial tractor.

Suited up in the obligatory vest, work boots, and John Deere hat, Purdy’s progress is interrupted by teammate Colton McKivitz hopping into the cab while a string of messages floods in from other athletes and influencers expressing interest in the job.

The clip also represents the first time that the 187-year-old company has used celebrities to promote itself, Hartmann told AdAge.

According to the contest rules, entrants have until April 29 at midnight to submit a single 60-second video making their pitch for why they should be the face and voice of the company.

In addition, entrants must live in the 48 contiguous states or DC — sorry Hawaii and Alaska residents. Interestingly, any AI-generated submissions are prohibited, too.

Videos will be judged against four categories — originally, creativity, quality, and brand knowledge — after which five finalists will be chosen and notified after May 17.

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How to Capitalize On This Thriving Talent Pool to Drive Your Company’s Growth

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How to Capitalize On This Thriving Talent Pool to Drive Your Company's Growth

Opinions expressed by Entrepreneur contributors are their own.

As business operations shift, executives and entrepreneurs are increasingly turning to an on-demand workforce that is simultaneously empowered by technology and drawn to purpose-driven projects.

Consider Upwork, whose 2020 Future of Workforce Pulse Report revealed that nearly 80% of hiring managers engaging freelancers feel confident about doing so. These hires provide coveted expertise — on a project-to-project basis — that entrepreneurs need to scale their operations without incurring long-term overhead costs.

This new market paradigm also promotes dynamism, with 79% of businesses agreeing that freelance talent enables greater innovativeness. Perhaps most telling, 84% of hiring managers utilizing it feel more assured about adapting to future disruption, compared to just 69% of those relying solely on full-time staff.

By capitalizing on freelance marketplaces, entrepreneurs can amplify employer branding, augment capabilities and future-proof organizations, even amid turbulence. As nearly 60% of hiring managers plan to increase engagement with freelancers over the next two years, the time is now for executives to realize their inherent potential.

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Related: Navigating the Great Reshuffle: Why Your Employer Brand is Key in Recruiting Talent

The job market continues to shift

After a season of massive hiring, we’re back to seeing layoffs and downsizing. Companies are feeling the bloat—from unused office spaces with rising rent to oversized employee structures — and are shifting focus to hiring only the most essential positions. This leaves a critical talent gap needed for complex projects and specialized tasks. Highly skilled and specialized independents can fill this void.

A few key benefits to engaging them:

Access to niche experts: Platforms like Toptal and Guru provide access to elite professionals from leading Fortune 500 companies and innovative startups. Whether the need is for a machine learning specialist, growth strategist or financial modeler, entrepreneurs can now curate on-demand teams that boast specialized skillsets, enabling them to focus investment on projects with the highest strategic value.

Enhanced agility: Leading corporations increasingly “rent” skills by tapping freelance experts for initiatives involving new technologies or while entering unfamiliar markets. With niche contributors available to plug knowledge gaps, owners can explore ideas that once seemed unrealistic due to internal constraints—unlocking inventiveness and first-mover advantage.

• Stronger employment brand: Blending full-time employees with project-based freelancers signals a commitment to modernization and work-life balance. Offering both engaging work and flexibility will help draw exceptional candidates and help you compete with corporate giants for top-tier talent.

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Related: Can Retirees Thrive in the Gig Economy? Navigating a Changed Workforce

Tips for capitalizing on gig talent

Having explored the forces reshaping work, executives may wonder how to effectively leverage freelance platforms. After all, how can you know you’re getting your money’s worth if a hire isn’t physically present full-time?

• Define projects clearly: Contract hires thrive when expectations and deadlines are established upfront. So, clearly, detail needs around deliverables, success metrics, required skills and projected time investments. Staying ahead when it comes to communication and expectations will help avoid headaches, including delays.

• Build loyalty with talent: The best independent professionals have options regarding the projects they accept. Study their profiles to discern passions and incentives. Offer interesting work, flexibility and strong communication to motivate interest and improve results.

• Manage collaboration: Provide steady context, feedback and guidance at each project stage, but also foster autonomy, even while directing efforts toward strategic goals. A dynamic balance of these qualities drives optimal outcomes.

• Continue expanding your talent pool: Add proven freelancers to an internal database for repeat engagements, and notify talent about new initiatives for which their expertise would provide an edge. Uncovering additional ways, freelancers can enhance the business deepens the relationship.

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Related: Fill Your Talent Gap by Sourcing Candidates From the Veteran Community

Top platforms for connecting with talent

Now comes the hard part: finding contractors who bring fractional expertise sets. There are a growing number of platforms, of course, but I’ve found that the following stand out as leaders:

Fiverr: Ideal for execs seeking design, digital marketing, writing, video and admin support. Known for affordability and ease of posting jobs. It taps a global talent pool, too.

Upwork: A flexible platform that spans more than 150 skills. Used by everyone from small businesses to global enterprises. Strong at IT, development, design, finance and consulting.

Toptal: Focuses exclusively on the top 3% of talent. Best for expert software developers, designers, project managers and finance experts. All contributors are extensively vetted.

Contra: A growing independent platform that vets and connects both job candidates and hiring companies. Best of all, it doesn’t take a commission from projects.

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Related: 3 Strategies to Optimize Your Hiring Process and Find the Best Employees

The numbers speak for themselves: businesses engaging freelance professionals report greater confidence and competitiveness, as well as the ability to withstand turbulence, yet legacy beliefs can still cause hesitancy among those keen to hire. Supported by such specialized collaborators, companies can explore new horizons unencumbered by a one-time narrow view of staffing models.

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