New year, the same dilemma. How do you generate enough passive income to enable you to quit your job and retire early? In this article we share 3 Forms of Passive Income to Pursue in 2022.
While that might sound like a pipe dream, just supplementing your income will suffice for most people! Everyone is aware of the benefits of passive income, not least that you don’t have to do much to increase your earning power.
The thing is, as the world changes, so do the types of investments that afford you the opportunity. 2022 is a year of trends that were either not around in 2021 or were in their infancy. Now’s the time to strike, and there are no better places to start than the following industries.
There’s a lot of money to be made from affiliate marketing. Judging by some estimations, beginners can earn as much as $300 per day, while high-level operators can make over $3,000.
After absorbing a simple beginner’s guide to the concept, you can get to grips with the industry and start earning in no time.
2022 is a fantastic year to get into the industry as eCommerce sales hit extraordinary levels towards the end of 2021, and they show no signs of stopping. Plus, a blog or free website is all it takes to get started quickly.
Of course, there are caveats, from selecting topics that engage your audience to tracking your ads’ performance. Still, the required tools are available online.
Most people have assets that others want without realizing it. For example, owning a home gives you a lot of leverage where passive rental income is concerned.
Subletting can be frowned upon or prohibited outright, depending on the landlord, but your own property is yours to do with as you wish. Therefore, taking on a lodger in a period when people are desperate for places to stay is a no-brainer.
For those who don’t want to be too intimate, a parking space is another asset worth leasing. In America in 2017, the average cost per driver was $345, while the average time spent looking for parking was 17 hours. So, your driveway can not only secure you extra funds but cut commuters’ fees.
Credit Card Rewards
This is a form of passive income that’s been around for years, which might make you wonder why it’s a good choice for 2022. Essentially, it’s the climate.
As people spend less money due to the pandemic, and other reasons, credit companies must encourage them to splash out. As a result, the current offers are very profitable.
Wells Fargo Active Cash Card is one of the best around right now as new customers receive $200 after spending $1,000 in purchases in the first three months and an unlimited 2% cash rewards on all purchases.
Alternatively, the Blue Cash Preferred Card from American Express provides 6% cashback on groceries and streaming subscriptions, 3% on gas, and 1% on everything else. Not bad for purchases you regularly make.
Passive income is always a savvy idea, since you can earn money with little effort. In 2022, the three strategies mentioned above are especially effective due to the volume of renters, the ease of affiliate marketing, and the scope of credit card deals.
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