Getting paid to not work is great. And that’s why it’s important to generate passive income. The more passive income you have, the less you need to trade time for money.
In fact, if you get to a certain point you can get paid to do nothing. This is why so many wealthy people can spend all their time traveling, skiing, or golfing. They get paid no matter what.
Because of this, I want to share three fantastic ways to generate more passive income in 2022.
All these ideas work. And if done right, they can put a steady stream of extra cash in your pocket. All without needing you to do anything beyond a few initial actions.
Here are all three ways to start making money passively.
1. Buy Cash Flowing Assets
This is arguably the easiest way to earn more passive income. It’s also one of the oldest and most time-tested paths to getting rich. Everybody from medieval lords to Warren Buffett has used this approach with great success.
Basically, all you’re doing here is buying a profitable asset (like a rental property or established dividend stock) and then collecting your checks.
While some people prefer rental properties, I’m not a big fan of the initial risks or efforts involved. I don’t want to live near my properties until I save up for a manager. And I certainly don’t want to unclog toilets or clean gutters.
Because of this, I prefer dividend stocks. You can essentially piggyback off the success of other people’s businesses by buying a stake in their company.
I’ve written about this before on here, highlighting a few successful ideas like Realty Income, GazProm, and British American Tobacco. In fact, I’m even picking up a check from British American Tobacco early next month.
One nice thing about dividend stocks is that many of them are well-known and popular brands. Companies like Coca-Cola, Kraft-Heinz, and Unilever (makers of Dove Soap) can all line your pocket with extra cash.
Of course, there are also a lot of other, higher paying and less well-known dividend stocks too.
If you’re curious about those options, I highly suggest reading the book Retirement Investing for Income ONLY. It’s got a lot of great passive income and dividend investment advice.
2. Start A Blog And Install Ad Networks
Internet ads don’t pay much, but they can be a fantastic source of passive income. Why? Because you collect a little bit of money every time someone simply visits your website.
This is a good way to earn extra cash, even if you aren’t good at sales or you don’t have a product to market.
As long as people show up on your site, you’re getting paid.
There are a lot of different ad networks to choose from. And Google AdSense is one of the most popular.
However, if you want higher ad rates (or you’re posting edgy content) you’ll want to go with services like PopAds.
Also, there’s another cool service called CPA Grip which pays you for leads and requires virtually no effort on your part. Basically, this is a company that allows you to post banner ads for things like a free Netflix subscription or sweepstake prizes, and then you get paid a few dollars anytime someone signs up.
I’d recommend this to anyone wanted to boost their passive income too. Many of these offers get a lot of clicks, and you can definetly earn extra cash from them. If you want to sign up for CPA Grip, you can do it here.
3. Learn Copywriting And Affiliate Market Someone Else’s Product
Learning to sell can be a huge money maker. If you can write ads, the sky’s the limit on your earnings potential. It doesn’t matter the platform either: YouTube, Twitter, Instagram, email marketing, or long-form sales letter. The same principles apply to all.
There are several fantastic books and courses on sales. Affilorama is great if you want to focus on Internet sales. And The Boron Letters is easily the best all-around copywriting handbook. Plus, it’s fun to read.
Once you have your copywriting basics down, you can build passive income platforms that pay you anytime of day and from anywhere in the world.
There’s nothing else like it.
Final Thoughts On Earning More Passive Income
If the past two years have taught us anything, it’s that life is too short to be scrambling around doing jobs we hate.
And that’s why it’s important to take control of your finances and your time.
More passive income leads to better living and doing the things you want to do. All three systems covered today are great starting points to boost your bank account and free yourself from the daily grind. If you try any of these and stick with them throughout the year, you’ll end up seeing incredible results by the time 2023 rolls around.
One year is really all it takes to change your life.