With every new year, we make new resolutions to transform our life for the better, to break the chain of bad habits, to build new skills, make money, build healthy relationships, and what not. Well, it’s not mandatory to make new goals by the start of the year, you can shape your goal and future any time of the year. The new year doesn’t change your life. Only discipline, passion, and commitment towards your goals can change your life. A great mission in the new year is to have multiple passive streams of income. We are impressed by these kinds of quotes in different financial books like How to make money while you are sleeping. Sounds weird!
But it’s not impossible as many great people including Warren Buffett, the greatest investor of all time, Robert Kyosaki, Neil Patel( Blogger who built a content marketing agency), and Adrain Brambilla( Affiliate marketing), and the list goes on. They make millions and even billions by passive income streams. But it demands passion, consistency, and patience.
In this article, we will disclose the best passive income stream ideas for 2022. These are easy to implement, you can make more money as a side hustle from these income streams.
Content creation:
Content is the key. It is one of the easiest ways to build money. It requires little or nor
Investment at all. You can make any kind of concrete in different niches like education, fun, entertainment, comedy, talk shows, podcasts, or any topic which you think people want to know. We consume a lot of content daily from different social media platforms like Facebook, Instagram, YouTube. Content can be visual or in written form. You can make a lot of money from sponsorship and Ad revenue, product info methods. This is the most common method, which bloggers and social media influencers use for making money.
You cannot build money overnight by these methods. It requires consistency, patience, commitment, and quality of content.
Content marketing generates 62% less than outbound leads and generates 3X as many leads.
Content creation has become a source of information for most people. Now people use the internet as an information-generating tool rather than TV according to a Pew Research Centre study. Facebook And Instagram have 3 to 4 billion active users at a time. So no doubt this passive income stream idea is best to generate money as it has a lot of potential and growth. There are a lot of social media influencers in different niches you don’t need to copy anyone. You can take inspiration from them and start your content creation journey. Your uniqueness and style of delivering information make you different. Everyone is born with talent and creativity. Take time to discover your hidden talent. Just start!
E-Commerce:
The other way to make money is by online selling of products. Nowadays, everyone has a busy life and they don’t have the time to buy different products while surfing different shops. As it’s the era of the internet, we have online stores. You can buy anything from any store online, it is just one click away. E-Commerce is a billion-dollar industry. Now, how do you make money this way? You can sell products online. If you don’t have your own product, you can buy products from wholesale markets like eBay, Shein, Ali Express, etc. You can resell their product by making your own online store.
Now you might be thinking about why and how people will buy your product? Here comes the inner gut of marketing copywriting, social media influencer, running paid ads. This is technical. At the start, you will be making little or no money at all, with a small margin of profit. But in three to five years and by investing your time and energy in your business, you can make a lot of money. As many great millionaires have mountains of money by this method. Again, it requires patience, consistency, effort, and dedication.
Real estate:
Yes, you hear it right! You don’t need to have a lot of money resting in your bank accounts to make money from real estate. You can buy a house with a mortgage (Taking a loan from the bank) and rent that house to pay back the money in the form of monthly installments to get rid of your loan. Let’s say you have to pay 1000$ dollars as a mortgage installment, you can rent that house for 1500$,1000$ to pay back the mortgage, and 500$ dollars as a side hustle or passive income. Using this method, you can become the owner of that mortgage after 10 to 15 years without investment from your pocket. Isn’t that cool?
If you have a lot of money, enough to buy a house, just invest it to buy a house and then rent that house, and get ready to build a passive income stream.
Investing in the stock market or crypto:
You might be wondering if only experts can make money from crypto and the stock market. There are two ways to make money by his methods: Daily Trading and Long term investment.
While investing the money we have examples of those who have lost money and on the other side totally different who are rocking, who have made huge money. There are both kinds of possibilities. If you don’t have control over your emotions, my straight advice is not to mess with the stock market. It requires patience and control over emotions, as you have to deal with critical situations. In one moment, the stock is going up and in the very next moment, the stock is going down.
Be very careful while investing money. There are a lot of scammers who ask you to manage your trading account or try to guide you, which stock you should buy. Remember that no one is going to invest his tie to make you rich. People are greedy and everyone is running behind each other to snatch money from each other. Come with your preparation and learn the basics of the stock market and cryptocurrency. Believe yourself where you have invested, no one knows which share is going to increase, you have to figure out yourself. It also includes the luck factor.
If you have fear of losing money, invest for the long term, there are higher chances that stock will definitely go up and you will make a lot of money in 20 years. It’s a long time, so my advice is to invest early in it. Warren Buffett has made money by investing in the stock market and 95% of his income is generated after he crossed 60 years and he started investing at 11.
Final Thoughts:
The other way you can become rich is by investing in yourself. Robert Kiyosaki once said “People are not poor because they don’t have money, they are poor and stay poor because they don’t have the rich mindset”. Let’s vow to make a better version of ourselves this year. It’s time to work on your weaknesses and strengthen your strong points. You want to be better at public speaking, go pick a course. You have poor communication skills, grab a course and improve your skills. For myself, I will work on my communication skills, teaching skills, information conveying skills, copywriting skills, and most importantly how to become a better human being. Now at the end, I hand over the mic to you, you can put your new year’s resolution in the comment section. I am excited to know about your goals.
