Anyone with a pinch of knowledge of economics knows that sitting on dollar notes only loses capital. The annual inflation rate in the US was 4.7 in 2021, and the upcoming innovations in data science, technology, and heath are only going to make fiat currencies even worse a store of value.
Many people find it best to invest in stocks, but stocks too come with their fair share of risk and require a significant investment to make anything worth calling “income.” For those of us who don’t have a couple of million bucks just sitting around, here are the 3 best hands-free income streams in 2022.
Arbitrage Online Retain Products
Amazon FBA and Walmart WFS are two of the most lucrative platforms to do business on. As an arbitrage trader, you take advantage of the slight differences in prices of products online by buying products from one place and selling it at slightly higher prices at another. You look for products at prices lower than what the average user may be able to find.
The difficulty with this idea is that it takes extensive knowledge on Amazon FBA and/or Walmart WFS and of the products your business will sell in order to succeed here. However, one notable company called Ascend Ecom has made this easier. As explained in a recent post on their Instagram (@ascend_ecom), the company does everything from launching and operating to scaling the business while you only invest your capital and reap the profits.
Create a Blog
Blogging is almost entirely a passive stream of income. If you create a blog about a timeless topic, such as raising a baby or taking care of plants (as opposed to something current such as the latest smartphones), users will be reading your blog for years, and you’ll be collecting income even after you’ve stopped writing.
However, it can take a year or two to create a blog big enough to generate considerable income.
Write a Book
Books are one of the most popular means to earn passive income, and services such as Amazon have made it easier than ever to publish and sell a book. The downside is that you must either have an exciting story for a fiction book or knowledge about something people want to learn for a nonfiction book. You would also need to market the book before it’s launched.
Writing a book can be an excellent stream of passive income, but you have to have something people want to read about. Unlike in blogs, you can’t get away with lousy repetitive trivial writing in a book.