Did you know that millions of people, including us, are worried that the economy is headed towards a recession? Inflation and interest rates are increasing while pay and job satisfaction is decreasing.
Some employees are seeking an escape from the 9-5 and are more ready now than ever, to make their money work for them. Investing your money into diversified assets is a popular way of hedging against the uncertainty and instability of traditional markets.
If you’re curious about the potential of investing in profitable income streams this article breaks down our favorite 10 passive income ideas in 2022!
1. Collect Ad Revenue From Your Blog
Cultivating a following is easy when you understand your target audience. Starting a blog is a great way to gain an audience in 2022. It’s the age of content businesses! And you know our 4 biggest forms of leverage? Audience is definitely one of them.
Once your blog is established as an expert in the industry, you have the potential to collect ad revenue from companies that want access to your audience like we do at Contrarian Thinking…
Advertisement channels can be integrated into your blog from the start, but it might take a few thousand followers before you can rack up some passive income!
What do you love most in this life? Flower arranging? East Asian Travel? Being your own boss? All of these are scalable blog themes that have thousands of potential customers waiting for your content.
Starting a Profitable Blog in 2022
As with any passive income stream, it will take time to grow your blog into a profitable platform. The beauty of passive income is that once you put in the work, you can sit back and reap the rewards.
Starting a blog has never been easier! The power of the internet combined with free tools like Canva and Google Analytics culminate in sleek-looking design tools that will attract various customers.
Your blog can be based on personal, professional, and creative pursuits. You are not limited to any category; however, catering to a specific niche is the most profitable strategy. Here’s what we did with ours after we created it.
2. Vending Machines: The Next Big Trend!
It is possible to own and operate vending machines. Vending machines require less amount of initial capital compared to real estate. That is why these machines are the next big passive income trend!
Vending machines, however, require maintenance and restocking. If your machine is in a high-traffic area then be prepared to maintain your supply levels frequently.
You can sell beverages, toys, and even makeup through your vending machine business. It is a good idea to place your vending machine in a high-income neighborhood to get the most profits possible.
How to Secure Investment Capital
Coming up with the down payment is the most difficult part of investing in physical passive income streams. In the past, cash was the only available method for securing a deposit.
Now you have access to several financing options that can help you secure your first rental property. Here are a few examples:
- Home equity line of credit
- Refinancing your mortgage
- Private money lenders
- Joint investor programs
- Personal loans
The options listed above can help you invest in real estate as soon as possible. You will be shocked by what opportunities arise when you begin to prioritize cash flow!
3. Books Generate Passive Income
The average writer slaves away at their desk during the duration of the creative contracts. Authors, however, have the ability to create a project once and earn royalties while they rest.
When you are ready to write a book, take your time fine-tuning the details. A quality manuscript has the ability to be picked up by major book publishers with large audiences.
Take advantage of the audience that your publisher offers by crafting targeted advertisement campaigns. Sell merchandise like artwork, shirts, and collectibles alongside your book for even more passive income!
The Secret of Low Content Books
Low content books feature blank pages or pages with little to no words. Profitable examples include journals, calendars, and puzzle books. You can easily scale these projects into a content creation business!
LCBs are easy to create and quick to merchandise. Spend time designing your cover and page layout when you pursue this passive income stream.
The market is flooded with low-content books, so be sure that you find a way to stand out from the crowd! These products can be featured on online marketplaces like Amazon and Etsy.
I’ve been toying around with the idea of writing a book too…foreshadowing do you say?!
4. Develop Cashflow With Music Royalties
Create a song once and enjoy its profits for a lifetime! Streaming platforms like Spotify, YouTube, and Apple Music have made it easy for artists to earn money from their music.
Cashflow can be enjoyed once you publish your singles and albums through a licensing agent. Some licenses allow your music to be submitted for commercials, movies, and more!
Audiovisual projects have the potential to increase your royalty rate. Work with a publishing platform that has access to exclusive deals for the best results.
Turn Your Streams Into Passive Income
Streaming has quickly replaced owning music and songs. Although selling their songs is more profitable for artists, most audiences have transferred to streaming platforms.
Every time someone listens to music, you will earn royalties! This phenomenon has influenced many musicians to create various singles and albums.
Profits can be split between producers, songwriters, and vocalists. Streaming platforms offer musicians the opportunity to cultivate community and passively sell merchandise as well!
Indie artists are exploding after putting their songs on platforms like Tiktok. If the sound goes viral, you’re one step closer to allll the streams.
5. Earn Passive Income While You Shop
SaaS applications have begun to incentive shoppers by offering them rewards while they browse the Internet. Apps profit from the data they obtain through your search history.
Incentivizing customers has allowed shopping apps to collect profitable data that can be transformed into programmatic advertising.
Programmatic advertising utilizes user data to place advertisements strategically. Users who comply with their terms can enjoy racking up passive income while they complete daily online tasks!
Apps That Pay You to Browse
Tapestri and MyPoints are some of the most popular applications that pay you to browse through the internet.
Be mindful of what you search for while you use these apps, however, as this data will be used to suggest goods and services to you.
Don’t be surprised if you see an ad for something you were shopping for yesterday! The passive income gained by using these apps can culminate in gift cards, cash, and more.
6. Real Estate Investments Can Be Passive
At first glance, real estate investments appear to be anything but passive. If you have the investment capital, however, owning real estate is the best way to generate passive income.
Even if you do not have the necessary startup capital, there are a multitude of ways that you can raise the funds needed to enjoy this passive income stream.
There are multiple ways that real estate investments can create passive income streams. Here are a few ways owning a property can generate passive income:
- Appreciating in value
- Collecting rent from tenants
- Commercial leasing
- Vacation rental income
- Refinancing options
- Real estate syndications
These are only a few of the many ways that real estate investments can earn you passive income. The hardest part about investing in real estate is getting into the market.
Once you are in, focus on getting the most value out of your investment. Will that be flipping the house, renting it out, or turning it into a dreamy vacation home?
Building Your Rental Unit Empire
Renting out your real estate is oftentimes the quickest way to regain your initial investment capital. If you choose to finance your investment then the rental income could pay for the mortgage.
Hoping to retire early? Consider focusing on cash flow over high savings yields. Rental units can generate consistent streams of cash flow for you every month!
Owning 4 to 5 units can pay for your mortgages, cost of living, and luxury expenses. To get started, calculate your monthly expenses and strategize how you can earn the same amount in rental income.
Our friend Robuilt started his real estate empire with, yup you guessed it, investing in tiny homes. Now he’s expanding into more luxury Airbnb properties!
7. Rent Out Your Home While You Travel
Passive income can fuel new adventures in your life. Why not rent out your home while you seek new experiences across the globe?
Renting out your home while you travel can increase your rental income. You can sublease your home for any number of days and months.
Advanced investors will appreciate the ability to capitalize on unused assets. Beginner investors can see how it feels to collect rental income and strategize how to invest in rental units of their own.
Taking Advantage of Exchange Rates 101
If you live in the United States, your dollar will stretch much further in countries like Mexico and Vietnam. Take advantage of the exchange rates!
While you are earning passive income by renting out your home, you can spend less on your cost of living in cheaper countries. Using this method, your profits can double or triple!
The same method can be applied to other currency exchanges like cryptocurrency and international stock markets.
8. Passive Income Ideas: Savings Accounts
High-yield savings accounts are one of the least effective ways to generate cash flow. However, this is the best technique to use for getting the most value out of your cash reserves.
Pay attention to how much interest you can earn in your current savings accounts. What are the perks and benefits of the savings account that you have?
It is possible to earn a generous amount of income from a savings account if you have a high amount of capital in reserve.
Which Savings Accounts Earn the Most Interest?
High-yield savings accounts earn the most interest! They might require a prerequisite to enter. However, they provide a passive way to earn income on your cash.
Passive income is all about making your money work for you. Take advantage of as many opportunities as possible to begin living solely off of your income streams.
9. Get Crafty: Create an Online Course
Everybody is an expert in something! That is why the online education industry is booming in 2022. Practical job skills and creative hobbies are all fair game when it comes to building up this income stream.
Creating an online course requires you to do all of the work ahead of time. Once your course is finished, however, you can relax while the students purchase access to your materials.
Develop a Curriculum Your Students Will Love
When it comes to curating online courses, choose quality over quantity. Unlike other digital assets, online courses have real-world value.
The skills that your students will gain can enrich their lives so take pride in creating impactful content. Your courses can be sold on a public education platform or showcased on your own website.
10. Sell Digital Products on Major Platforms
Digital products include e-books, planners, NFTs, and more. Most digital products can be free to make and require little to no investment capital to start.
Don’t let the low entrance fee make you think this venture is not profitable. You can sell digital products on major platforms that will recommend your products to their audiences!
Take Advantage of Integrated E-commerce Tools
Using integrated E-commerce tools, online marketplaces have made it easier than ever for vendors to supply consumers with digital goods.
What are digital goods? iPhone wallpapers, iconography packs, exclusive fonts, and commissioned artwork can all be sold online and generate passive income.
Digital goods can become a great source of passive income for people who are familiar with E-commerce tools and building user interfaces!
Passive Income Ideas 2022
Now you know all about what it takes to dominate the top 10 passive income ideas in 2022! This list isn’t exhaustive…you gotta get creative.
