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Passive income is no longer just a catchphrase. Now, it’s become a sustainable way to live the life you want without having to work for it. Even if you’re new to the passive income arena, you’ve probably seen people online offering to teach you how to do it. You don’t need an online guru to show you the ropes. All you need is a little time, patience, and a desire to learn. So, if you’re determined to make 2022 the year you start earning without effort, you’ve come to the right place. Here are seven great ways to earn passive income without lifting a finger.
Investing
When it comes to investing, the possibilities can be downright overwhelming. Do you put your money into stocks, or do you invest in real estate shares? If you choose the latter, you can make the most out of different tax advantage accounts, which allows you to retain most of your investment gains. Some of the most popular ones are a self-directed IRA for real estate and 401Ks. If you choose to invest in stocks alone, you should always take the time to research which have a long-running history of high returns before investing.
Review a guide that goes over other reasons to invest in real estate to better understand how this works. One of the best investments for beginners is real estate. Real estate investing works in several ways. You can purchase a property yourself and rent it out, put your money toward shares like the stock market,or you can house flip. It’s often regarded as one of the safest investments by established investors.
Create an Online Course
Do you know the best travel hacks to stay in 5-star hotels at a fraction of the cost, or do you know how to teach others the easiest ways to master Excel? Whatever you’re a master at, you could turn your skills into a course you sell online. People are always looking for ways to make their lives easier; this is a reliable way to make money online and can create a steady stream of income after laying the groundwork.
Sell Your Photography
Like travel guides, you can also sell the pictures you’ve taken along the way. There are plenty of websites where you can upload your photos and receive a commission if someone buys them. In addition, you can also create your eCommerce websiteand or sell it on Etsy. Keep in mind that this might take a while before you start to see a profit, and the pictures you sell need to be top quality.
Flip Retail
Another way to make money without much effort is by flipping retail products you buy in bulk. The key to being successful is knowing how to find the best deals on products people will want to buy. Some popular products include games, toys, kids’clothes, and home goods. It’s important to note that if you choose to do this, you must always be honest and offer the products at a fair price. Since today’s consumers are super savvy, they’re not going to pay more for merchandise they can get cheaper elsewhere.
Rent Out Your Parking Space or Pool
If you have a parking space or pool that you rarely use, you might want to rent them out. Parking is expensive in just about every city, so if you have one you aren’t using, you could net more by renting it out. The same holds for pools. If you have a home without a luxury pool, why not let others use it for their pool parties? You can create a contract with house rules and rent it out by the day. Granted, you probably don’t want people coming into your home to use the restroom; however, if you have the extra bath, you could also make that access.
Write an eBook
People are always looking for ways to escape, and reading is one of the best ways to do it. If you have a flair for writing, why not write an eBook? Regardless of niche, you can write an eBook and then sell it on Amazon or another platform. Some popular genres include self-help, cooking, fitness, and travel. Just make sure that whatever you write is both entertaining and valuable.
Affiliate Marketing
Although some people say it’s dead, you can still make money with affiliate marketing. You can promote other products on your page if you already have an established website. When someone clicks and buys that product, you earn a commission.
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