Commencing passive income generation doesn’t necessarily require significant time or capital. Instead, what’s crucial is having a compelling idea and a strong sense of enthusiasm.
As the pressure of living expenses continues to weigh heavily on everyday budgets, particularly among the younger demographic, an increasing number of Australians are embracing the concept of passive income. While the notion of earning money with minimal effort may seem too good to be true, it’s becoming a tangible reality for many.
Passive income entails generating revenue from endeavors that demand little ongoing effort, such as renting out assets (like a car, parking space, or designer clothes), investing in stocks, or sharing expertise through platforms like ebooks or YouTube channels. Although setting up these streams may require some initial effort, they can ultimately yield significant cash flow without detracting from the time and energy dedicated to one’s primary occupation.
In the following accounts, six Australians reveal their strategies for sidestepping the traditional rat race and realizing their aspirations through passive income.
Yuma Soerianto
While many teenagers are working part-time jobs like flipping burgers for extra cash, 16-year-old Yuma Soerianto from Melbourne is busy developing apps and games, selling his code online for profit.
Soerianto’s journey into coding began at the age of six, and by the time he was nine, he had already published his first app, Kid Calculator, a talking calculator. He continued to create more apps, including Weather Duck and a restaurant locator app. Initially, he didn’t anticipate making money from his creations; it was simply a hobby he enjoyed.
To transition into monetization, Soerianto incorporated simple banner ads into some of his apps, generating a significant amount of passive income. He also experimented with paid apps and in-app purchases, where users have the option to pay to disable ads. Despite his school commitments, Soerianto manages to maintain his apps with minimal effort, dedicating a couple of days per year for updates and bug fixes.
In addition to app development, Soerianto runs his own YouTube channel called “Anyone Can Code,” where he teaches viewers how to create apps. He earns passive income from ads on his channel and also offers project assets and code for download, allowing viewers to access additional resources for a fee.
Soerianto’s talent in coding has garnered him numerous accolades, including a scholarship from Apple when he was just 10 years old. He was the youngest recipient that year and went on to win the scholarship four more times, meeting Apple CEO Tim Cook along the way.
Regarding his financial goals, Soerianto remains modest, expressing a desire to earn a comfortable living and make a positive impact in the world. He plans to continue teaching coding through his YouTube channel and hopes to expand his outreach in the future.
Reflecting on his journey, Soerianto emphasizes that coding is a skill anyone can learn with passion and determination, regardless of their background or experience. He encourages aspiring coders to pursue their ideas and believes that with dedication, anyone can achieve success in coding.
Wu family
Cinthia and Simon Wu, along with their children Charlize, 12, Indiana, 11, Harley, 9, Blaze, 7, and Arizona, 3, unexpectedly decided to list their family home on the location-booking platform Peerspace.
Cinthia explains, “Renting out our family home was never part of our plan. Last year, we put our house up for sale, but when the market took a downturn, we canceled the auction. We left the listing online just in case someone wanted to make an offer. Surprisingly, a group of filmmakers reached out expressing interest in using our house as a potential shoot location. Although they didn’t end up using it, the idea stuck with us. In November, we decided to list our home on Peerspace, and the response has been remarkable.”
Their home now sees bookings for film and photo shoots nearly five times a week, with each session lasting around five hours. Cinthia adds, “We’ve had the opportunity to meet fascinating people and influencers, including Brent Vitiello and Jack Millar from Married at First Sight, who filmed content at our place.”
Simon reflects, “Cinthia has always been meticulously clean and has a passion for interior design and styling, so our house is consistently ready for its close-up. Despite having five kids, people are often surprised to learn that we live here. With everyone pitching in, maintaining the house becomes a family effort.”
He continues, “Renting out our home has allowed Cinthia to focus on being a full-time mom while we generate a secondary, passive income—a necessity in Sydney given the rising inflation and cost of living. With a large family to support, every bit helps. Being regularly ‘kicked out’ of our home for shoots has encouraged us to spend more time outdoors together, whether it’s lounging at a local pool or exploring nature trails. It’s truly been a blessing.”
Simon acknowledges the challenges they’ve faced, including financial setbacks from a struggling business. Renting out their location has provided a much-needed boost, helping them regain stability and move closer to their financial objectives. He envisions that with continued location rental, they could potentially earn around $50,000 in passive income annually. As a result, selling the house is now a distant consideration.”
Laura Turner and Sarah Lawrie
Adelaide-based couple Sarah Lawrie and Laura Turner have found a unique way to earn income through advertising and affiliate marketing on their enticing food blog, Wandercooks.
Sarah recounts, “In 2015, when we moved in together, we embarked on a challenge to cook a new dish every night for six months. Our passion for exploring diverse cuisines grew, prompting us to leave our jobs in marketing and graphic design to travel for a year across 35 countries. During our travels, we stayed with locals, shared Australian dishes, and learned to cook the host’s specialties. This journey inspired the creation of our blog, Wandercooks.”
Upon returning home, they initially launched a graphic and web design business while they worked on monetizing their blog. By early 2021, Wandercooks began to thrive, prompting the duo to transition to full-time dedication to the blog. Passive income from the blog primarily comes from display advertising, with about 85% of revenue generated through this channel. They utilize Raptive (formerly AdThrive) for selling display ads, requiring a minimum of 100,000 page views monthly for eligibility. For smaller blogs, signing up with Google AdSense is an option.
Recognizing a demand for knowledge on search engine optimization (SEO) and Google Analytics within the food blogging community, Sarah and Laura developed ebook courses to share their expertise. These sales contribute to five to seven percent of their passive income.
Laura adds, “We currently publish one to two recipes per week, which equates to one to two days of work. This flexibility allows us to focus on our home renovation project, which is funded by our passive income, and to prioritize spending time with family and friends. I can attend appointments with my dad without needing to request time off. Our stress levels have significantly decreased since we made this transition. Even during our self-employment days, clients would contact us incessantly, even during our honeymoon. Now, we feel much more relaxed.”
Regarding their goals, Sarah and Laura aim to achieve financial independence, complete their house renovation, pay off their mortgage, and become debt-free within the next three years. They are confident that they can accomplish these objectives with their current trajectory.
Mariam Mohammed
Mariam Mohammed, the co-founder of MoneyGirl based in Sydney, has achieved an average return of 12 percent through her investments in exchange-traded funds (ETFs).
“I have always been diligent about saving. After graduating from university and working for a few years, I realized that I would never have enough savings to retire comfortably. That’s when I decided to learn about investing.
Micro-investing was the most accessible option for me to begin, followed by investing in individual shares. Initially, I experimented with shares and experienced losses as a novice trader. However, I discovered that ETFs offer a more diversified approach by providing exposure to a broad market, rather than investing in a single company. ETFs are typically based on specific indices, sectors, or investment strategies. For instance, there are ETFs that track the performance of companies recognized as leaders in sustainability. Additionally, ETFs often pay dividends, which investors can choose to reinvest if desired.”
I’m a passive, long-term investor who prefers not to pick individual stocks or engage in frequent buying and selling. This is why ETFs are appealing to me; my intention is to hold them for at least 10 years, if not longer. I take a patient approach, investing a consistent amount and allowing the market to unfold over time. Depending on the year, my annual returns have ranged from seven to 25 percent, with an average of around 12 percent. Managing my investments typically requires minimal effort; reviewing my tax return statement, transferring funds to my investment account, and checking my dashboard three or four times a year takes perhaps an hour in total. It truly is a low-hassle, hands-off form of passive investing.
My goal is to continue passive investing as I work, ensuring that I always have multiple streams of income and peace of mind for unforeseen circumstances. My advice to anyone seeking the same is to start small and embrace imperfection. Simply taking that first step is crucial.”
