In this blog, we’re gonna be covering a list of passive income ideas working right now in 2022. With these savvy passive income ideas, you’ll be one step closer to living your dream life!
Combines the idea of affiliate marketing with the idea of arbitrage. If you’re not familiar, basically affiliate marketing is earning commissions from referrals. Whereas arbitrage is the process of profiting from the price difference between buying and then selling something. So here’s what people end up doing.
You start by forming a blog article or a video with multiple affiliate offers associated with that content. After that, you’re going to track conversions specifically for that piece of content.
Next, you’re going to start running paid ads for that video or content. So the goal here is to make more money in affiliate commissions than you’re paying in advertising costs. This is a pretty advanced affiliate marketing strategy.
Selling An Online Course
Now, when you take that course, it’s not going to be passive income, but once it’s made, you can perpetually sell it and it’s a digital product. So that can be 100% passive.
Now the key here is that you have to upload them to a platform like Teachable. Now on Teachable, you can offer both free as well as paid
courses, which gives you different angles.
For example, I have made free courses that are monetized with affiliate links, even though it’s free, I do end up making money in the process. So there are a lot of different angles for making money with online courses.
Credit card rewards
Now, this comes with a major caveat and that is assuming you’re able to use credit cards responsibly, which is not the case for everyone out there.
That’s the whole point of credit cards is some people are going to use them responsibly and pay off all their balances every month, other people are not.
And it’s that basket of people that keep the credit card companies in the business. However, if you know how to work the system and you simply get the rewards and pay no interest, this can be an easy source of passive income.
Now, most credit cards out there are gonna get you miles or cashback, but that cashback usually has to be used for purchasing or applied to your bill.
There are now credit cards today that allow you to earn actual assets as a reward for your spending.
Opening Up A Brokerage Account
If you don’t have a stock trading account yet, or even if you do, and you want another one, you can simply open up accounts and get free stocks
in the process.
Now, when you get that free stock, you can either keep it, or you have the option to sell it. If you sell it, you’re able to eventually withdraw that money to your bank account, or you can reinvest it into something else.
Investing In Artwork
Now, believe it or not, the artwork is one of the oldest investments out there. And that is because art has held value in society for thousands of years.
Now, the ultra-wealthy have invested in this asset class for centuries, but traditionally, it’s been very difficult for smaller investors to get in because many of these paintings are millions of dollars, which people just don’t have that much money to put into.
Now, while no guarantee is going to last forever, this is a long term trend at this point. The artwork has had a good history of solid returns that have even beat this stock market.
Most people out there are just going to buy and hold their crypto, either leaving it in their wallet or basically within the exchange, that they are using. Staking is a way of earning rewards over time by putting your crypto to work.
Now, keep in mind, this does require you to lock up your assets for a period, which is often referred to as several cycles. During that period, you cannot sell it. So if the prices are going crazy, in either direction, you are locked in.
Now, if you choose to stake your crypto, you’re earning rewards for participating automatically in the proof of stake, which is actually how transactions are verified.
Investing In Farmland
Now, believe it or not, farmland has become a pretty trendy investment over the last few years. And that’s large because Bill Gates came out as the largest private farmland owner in the United States.
Now what’s cool about farmland is you’re able to earn returns from it in two different ways.
- Land value increases over time. However, you’re only going to realize that gain when you sell the land.
- Earning rent from farmers renting out that land.
Now single-family homes were not considered to be a good investment for a long time. However, in recent years, demand for single-family homes has surged as a lot of people are excited about big cities, certain markets in the country, single-family homes have gone up by nearly double, if not more.
Investing In Precious Metals
Now, while it’s not the most common source of passive income out there, precious metals can in fact, still be a source of passive income. Now, as we mentioned earlier, things like gold, silver are not yield-bearing assets.
So the only way to make money from them is by buying them at a low price or the market price today and then selling them for a higher price at a later point in time.
Now, a lot of people are investing more money into precious metals at a time like this because in the past metals like gold have been effective hedges against inflation, as well as recessions.
Selling Leads Online
This is a simple concept that’s largely overlooked. There are a ton of businesses out there performing services that have no clue how to do social media ads or anything like that.
So imagine if you were able to partner with them where, for example, if you partner with a landscaping company and you were getting paid per lead, and then you were running ads on social media for free landscaping quotes in that specific area. So you could negotiate a deal like that, where again, your goal is to make more money in referral commissions or selling those leads versus paying out in advertising costs.
Or if you didn’t wanna pay for traffic, you could follow the SEO approach and use free search traffic by targeting local search terms around that service.
Selling Stock Photos
If you’re interested in photography, there are a lot of sites out there that will pay you for the right to use your photos. Now, one of the most popular is Shutterstock.
Selling An Ebook
This is a way that some people earn money passively. And typically the goal here is to build up a portfolio of multiple different eBooks that you’re making money from.
So the way most people do this is through Kindle direct publishing. And this is a way that you’re able to upload books for free to Amazon and earn a range of about 35 to 70% of the sale price in royalties collected.
Since it’s a digital product, there’s no physical delivery, so it can be passive. And what most people do to make money is they do
eBooks about non-fiction topics, such as guides or tutorials that people might be searching for on Amazon.
Upselling A Service
So we’re back to the topic of arbitrage here. And it’s mentioned a lot because this is one of the best ways to earn passive income out there is by basically making money by marking up another service or something that somebody else is doing for you.
So let’s say, for example, you are offering transcription services for Zoom and Google meetings, but then you could connect yourself with someone overseas and potentially pay them 50% of that cost per minute, to do the actual work.
Now, you’d have to review the information before and make sure it looked good, but you can make money by outsourcing work and ups selling services.
WordPress Website Management
We’re not talking about dental equipment here. We’re talking about a monthly retainer, which is where you pay a business, a set rate per month
in case you need to utilize their services. So here’s how you might end up doing this.
Let’s say you charge a fee out there for building WordPress websites for clients, but then thereafter you offer ongoing maintenance or update
packages for a set monthly price. So for example, let’s say you charge $49 per month for up to two monthly updates for the site content.
If they’re gonna need help that month, it’s not passive, but if six months go by and they haven’t requested any changes, you’re making that $50 passively every single month.
Now the benefit here to your client is they know that if they need something, they can reach out to you and you can change things very quickly.
But the other option here is you can outsource that work to other people who are completing the work, not to mention a lot of the tasks associated with updating and managing a WordPress website can be fully automated.
Selling SVG Designs
With the rise of sites like Etsy, and then, things like the Cricut machines and other DIY craft companies, more and more people are looking for designs to use.
So there are many sites out there that offer free SVG designs, but you typically have to pay a little bit of money if you’re looking to get something that is very specific. So if you’re not familiar, an SVG is like a digital calliper of something that you might use for a project, and you’re able to sell these online.
Now, since it’s a fully digital product, there’s no order fulfilment. And that means you can make passive income by selling SVGs on sites like Etsy and then automating the delivery. So you’re typically looking to sell an SVG to make more money.
Now the prospects associated with crypto mining aren’t what they used to be many years ago, but it is still possible to make passive income
from this source because you’re plugging something in that’s using electricity.
The goal is to make more money in your crypto mining efforts than you do your costs for electricity, the internet. Now, mining for mainstream coins like Bitcoin is not likely to be profitable for small investors.
But the idea here is to be mining a token that eventually grows tremendously in value. If it ends up not, then you could be wasting money on electricity, mining, something that ultimately becomes close to worthless.
Now the equipment required is going to vary based So it’s a decent chunk of change you have to invest. That’s why you wanna make sure you’re knowledgeable of crypto and do your research beforehand.
Once you’ve found the perfect passive income ideas that fit with your lifestyle, skills, and passions, it’s important not to let that extra cash get lazy.