Passive Income Ideas For Psychologists [2024]
Are you a psychologist looking to diversify your income streams in 2024?
In an ever-evolving field where emotional and mental well-being take center stage, finding new avenues to generate passive income can significantly enhance your financial security and professional growth. The good news is that the skills and expertise you've honed as a psychologist lend themselves to an array of lucrative passive income opportunities that are both fulfilling and manageable alongside your primary practice.
In this article, we'll explore innovative and practical passive income ideas tailored specifically for psychologists. From creating online courses to authoring books on mental health, we'll guide you through each option and offer insights into how other psychologists have successfully turned these ideas into supplemental income streams. Ready to find out which passive income opportunities could be your perfect fit? Let's dive in.
1. Make passive income with a podcast ($97.9K/month)
Here's the full list:
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
2. Make passive income with an online course sales business ($85K/month)
Here's the full list:
How much you can make: $100 — $300,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 180 days (?)
A multipreneur shares how she built a successful print on demand side hustle, generating $120,000 per year through multiple brands spread over various platforms.
3. Make passive income with a YouTube channel ($72.1K/month)
Here's the full list:
How much you can make: $2,000 — $333,333/month
How much does it cost to start: $5,250 (?)
How long does it take to build: 30 days (?)
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
4. Make passive income with a niche blog ($31.5K/month)
Here's the full list:
How much you can make: $100 — $650,000/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
Starter Story grew to 1.4 million monthly visitors and millions in annual revenue by sharing the stories of entrepreneurs. Pat breaks down the early days and how he grew the business into something that changed his life.
5. Make passive income with a niche website ($107K/month)
Here's the full list:
How much you can make: $400 — $250,000/month
How long does it take to build: 60 days (?)
DPW (Digital Procurement World) is a fast-growing conference and community in procurement that has more than tripled in revenue since launching in 2019, capping out the year at €1.8 million, with 95% of their growth coming from inbound traffic leveraging LinkedIn and applying social selling techniques.
6. Make passive income with a health and wellness app ($108K/month)
Here's the full list:
How much you can make: $600 — $300,000/month
How long does it take to build: 200 days (?)
Founder and CEO of SelfDecode, Joe Cohen, explains how his company helps people discover personalized diet, supplement, and lifestyle recommendations based on DNA and lab tests; generating about $2.7 million in revenue over the past year and raising $8 million in a crowdfunding campaign, SelfDecode provides personalized health recommendations prioritized on unique genetic variants, marking the future of healthcare.
7. Make passive income with a mobile app ($70.3K/month)
Here's the full list:
How much you can make: $1 — $500,000/month
How long does it take to build: 180 days (?)
BACH, an app that plans and books bachelorette parties, has grown from $0 to >$1M net revenue run rate in less than 6 months, gained over 100,000 users in their first 60 days, and has over 40,000 parties using the app this month.
8. Print on demand business ($411K/month)
Here's the full list:
How much you can make: $200 — $3,000,000/month
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.
9. Make passive income with an online survey tool ($304K/month)
Here's the full list:
How much you can make: $40 — $1,600,000/month
How long does it take to build: 180 days (?)
GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.
10. Make passive income with an ai based business solution ($55.8K/month)
Here's the full list:
How much you can make: $4,000 — $120,000/month
How long does it take to build: 125 days (?)
Mikkelsen Twins grew an online education company from scratch with over 800 students, making over 6-figures in profit every month thanks to their successful program, Audiobook Income Academy 2.0.
11. Make passive income with a social media automation business ($139K/month)
Here's the full list:
How much you can make: $4,000 — $400,000/month
How long does it take to build: 50 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
12. Make passive income with a stock photography business ($14.6K/month)
Here's the full list:
How much you can make: $1,200 — $45,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 60 days (?)
Pro Photo Studio founder Tsour Lee Adato shares how she turned a $5k investment into a business that services over 500 clients annually and makes approximately $350k per year with plans to expand and become a 7-figure business while offering advice to fellow entrepreneurs to always be innovating, learning and growing, and not to undervalue themselves.
13. Make passive income with an email marketing tool ($992K/month)
Here's the full list:
How much you can make: $120 — $20,833,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 180 days (?)
H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.
14. Make passive income with a dropshipping business ($414K/month)
Here's the full list:
How much you can make: $6,000 — $3,000,000/month
How much does it cost to start: $8,500 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 10 hours/week
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.