20 September 10 Ways to Make Money Online—InternationalLiving.com
“Retire early and travel the world” may sound like a dream—but it’s more achievable today than ever before, according to a new report from the editors at International Living. The report identifies 10 ways anybody ready to jettison the traditional nine-to-five can create a portable income and set off for a life full of travel and adventure.
With the advent of the Internet, people of all ages are able to make money from anywhere on the planet.
Their “offices” are wherever they open their laptops…on white-sand beaches, in tropical mountain valleys, and in vibrant university towns. And they can live better while they spend less, by earning in dollars and living (and spending) in places where the cost of living is much lower than in the U.S.
International Living’s new report details 10 ways expats have found to make money in retirement.
1. Publish an E-Book
One of the fastest and easiest ways to start making money with e-books is to find a book that has already been published as a print book and license it to publish online.
The person doing the online publishing, then, gets the lion’s share of the money—paying the author the standard 8% to 15% royalties based on net sales. Another arrangement is to pay a one-time payment for the right to publish online.
Today there are over 44 million hardback and paperback books on Amazon but only 2.6 million Kindle books. So that means there are more than 40 million books that still haven’t been converted to e-books.
Vic Johnson who publishes e-books says, “In addition to my own books, I’ve published almost 50 books written by others. Some were books I took from the public domain. I once bought the rights to a book for $200, simply because I liked the content. Over the years, I’ve made over $50,000 selling it as an e-book.”
2. Create “How-To” Videos
In recent years, YouTube has grown into the go-to source for all manner of video courses and guides. Instructors can monetize their videos by charging a subscription fee or password protecting content for paying customers only.
Once you have a loyal and engaged following, you can start partnering with brands that will pay a fee to have their product mentioned or reviewed. When John Chang first posted his computer-aided-design videos he was receiving between $150 and $200 per month. Now, seven years after he launched his channel, he still brings in about $100 per month, with almost no upkeep and plenty of opportunities to increase his income if he wanted to.
For John, pursuing his passion and sharing his expertise was its own reward. But the channel eventually grew into a supplementary income. “I like the fact that I can be retired and still teach a lot of lessons that people are benefitting from. The fact that somebody gives me something for it is nice.”
3. Make a Podcast That Pays
Once a laptop has been secured, the biggest start-up cost in podcasting is a good microphone. There are a number of ways to make money from a podcast. The most obvious is through commercial sponsorship, but a podcast can also be used as a platform to advertise products or services.
Podcast shows don’t need to run every day, and they typically work better when they’re kept relatively short. One episode a week usually works best. And because it’s not broadcast live, all the episodes for the month can be recorded in one afternoon. The goal? Create something a listener can easily consume while commuting to and from work.
Luis Congdon, who has his own podcast, says, “I can record and broadcast a podcast wherever I am in the world—no need for audio engineers or large antennas. It’s remarkably simple, and it can also be profitable. Using a lightweight and low-cost microphone and a laptop I’ve recorded from a hut in the Philippines, a co-working space in Bali, and even while staying on a farm in Colombia.”
4. Narrate Audiobooks
Audiobooks are an increasingly popular form of entertainment. The convenience of smartphones has led to an industry boom. The Association of American Publishers reported a 38.1% increase in audiobook downloads in 2015…and that’s creating a demand for freelance narrators.
Narration is a job that anyone can do, regardless of age or experience. It’s flexible, portable, and, above all, fun.
Meghan Crawford who is a freelance audiobook narrator explains, “My typical ‘workday’ consists of two to four hours of recording during late morning and early afternoon. I started being my own boss last September. In that time, I have more than doubled what I made at my previous work.” Even new narrators can expect to earn an average of $100 per finished hour—more if working under contract with a larger publisher.
5. Sell Your Photos
With the widespread availability of low cost, high-grade digital cameras, photography has become a way to earn an income that’s within the grasp of people who don’t want to make a significant financial investment, or who don’t have a specialized qualification or background.
The beauty of stock websites for photographers is that once they’ve uploaded a photograph, it can be sold any number of times, to different people, meaning that it can continue to make the photographer money in the background, again and again, without any additional effort.
Moving to Medellín in 2011, Joel Duncan funds his new life through his photography work. He says, “I think that it is the possibility in Medellín that I love the most. You can easily see that this is a great place to live and build a future. I had no idea what to charge back then and my shoots took about three hours, now they take me only 30 minutes.”
The full International Living report—including 5 additional ways to make money online—can be found, here: https://internationalliving.com/ways-to-make-money-online-in-retirement/?utm_source=pr&utm_medium=pr-organic&utm_campaign=press-release.
About International Living
Since 1979, Internationaliving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, InternationalLiving.com provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has more than 200 correspondents traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.