Generating passive income is a great way to achieve your financial goals. It can help you get extra money for expenses or your savings plan. A passive income does not come from another job or business. It is an additional income from a source other than your job or a business where you do not actively participate.

It is also a great way to save for retirement and meet saving timelines and goals. In this article, we will share some trending passive income ideas you can try in 2022. Let’s get started.

Sell Stock Images

While it does not appear to be passive income at first glance, it does meet the criteria. Selling stock images takes some effort, but it will eventually generate money without much intervention.

To generate passive income through selling stock images, you need to sign up and apply for stock images platforms such as Getty Images. Once your profile is approved, you should begin taking photos on various subjects. It could be a model photoshoot or photographs of events, objects, or celebrities.

This passive income will generate money whenever people download your images. Then, the platform will release the payment for each download.

The drawback about selling images is that it is a lottery, so you will first have to produce hundreds of photos until you get to those that generate conversions. Once you have them, they will eventually generate passive income. If you like this type of activity and want to generate more, you can continue adding photos in the future.

Affiliate Marketing

Marketing affiliate is another trending passive income idea. Have you ever seen influencers promote a product by sharing a link to a particular product? They generate money from each purchase.

Every time one of their followers buys that product, they receive a commission from three to seven percent. It doesn’t seem to be much at first, but you’ll know it is a big deal when you consider their number of followers.

Yet, you need to consider that this passive income requires a lot of time, effort, and analytical skills to build your following. You will need to work with digital marketing techniques, find your ideal niche, discover your audience’s interest, and keep your audience engaged. This is an effective way to get them to buy those products or services.

At first, you will need to spend a lot of time building your network. However, you will start receiving a relatively stable income from marketing affiliation once you have it.

Real Estate

Real estate will always be the safer bet for passive income, even in 2022. At the beginning of the pandemic, the real estate industry was negatively affected, and some property owners experienced drastic losses. However, the real estate industry is recovering now.

According to research from Fortune Business Insights, the property management industry will experience significant growth from 2021 to 2028. It will rise from $15.10 billion to $28.21 billion.

To start your rental business, you will need to have a property and consider expenses like mortgage and taxes. Then, you can set a price based on your goal expectations. For example, if you want to earn $10,000 per year for a property, your mortgage is $2500, and taxes are $350, you’ll need to rent the property for around $3,683.

The risk with this business is that rental prices increase and decrease depending on the market condition. Some tenants won’t pay on time, while you still need to pay for the mortgage.

Create a Course

Creating an online course is another great way to generate passive income. You can teach something that you are proficient in and passionate about. You can sell them through MOOC (Massive Open Online Courses) platforms like Coursera, Udemy, and edX.

However, you need to take it seriously because there is a lot of competition. Therefore, building a high-quality product with excellent standards is crucial to stand out. Creating a course will take several hours, but you will see positive results once you have developed an effective business model.

Develop an App

Creating an app is a great way to express yourself if you enjoy technology. You can hire a software engineer or build the product yourself if you have coding skills. You could make any type of app you want.

Video games are very popular these days because they can easily generate money. You could run ads through the game or charge users a nominal fee for playing.

Conclusion

Generating passive income is one of the best ways to achieve your financial goals. You have multiple options that you could try, such as real estate, app or web development, marketing affiliation, and more. It is just a matter of finding a business model that fits your goals and expertise.