Passive income is the name of the game, especially for 2022. If you’ve heard people talk about making money in their sleep, this can be from passive income.
Here are our five recommendations for passive income makers you should try.
5 favorites passive income opportunities
Creating multiple income streams can be a path to wealth and an excellent way to increase your income smartly without working for it actively.
1. Affiliate marketing
First up is affiliate marketing. This is about promoting other people’s products for a commission.
Before you roll your eyes thinking making only a commission isn’t worth it, it totally can be, especially if you’re earning a few bucks, a few hundred bucks, or thousands of dollars without any ongoing work or maintenance.
eBooks are digital books. Anybody can be an eBook author and write about something they know about. I’ve written ebooks on website flipping, digital marketing, and more.
Next up are digital courses.
This works pretty similarly to ebooks. You create a course on a topic you’re knowledgeable about and then sell it. Courses are like more expansive ebooks.
They require more work to create and require a lot of planning and organization as you put the content into modules lessons, set up homework for students to take, quizzes, etc.
Cryptocurrency is something pretty new to us but, We’ve dabbled in it to some fruitful results. Cryptocurrency is digital money that is secured by blockchain technology. Cryptocurrency investing can take many forms, from buying cryptocurrency directly to investing in crypto funds and companies. You can purchase cryptocurrency using a crypto exchange or through certain broker-dealers.
3. Rental Income
Rental income can be made if you own or rent the property. Own a home and do AirBNB, making passive income from short-term rentals. Rent a house or apartment and do the same. It’s called Airbnb rental arbitrage, and AirBNB supports this model as well, believe it or not.
There you go! Now, in full transparency, We have not done all of these.
We have tried about half of them but based on research, interviews, and what I’ve learned about the others, We would try them and hope to soon.