Building Sustainable Passive Wealth in The Ever-Evolving Digital World: The Hacks You Need For 2022

Before the 20th century, people were limited in what kind of work they could do, how they could do it, and when they could do it. Jobs also did not only have fixed hours. They were also limited in scope. For most people, making money off a job was limited to how many hours they could engage in it. Only a select few could make money they were not actively working for through investments. With electricity came, society was no longer limited by time, and society could function 24 hours, creating another range of jobs that people could and earn more money.

Then the internet came, which meant that society was no longer just limited by time. It was also no longer limited by location, i.e., you don't have to be at a given physical place. With that freedom, the nature of employment changed from an employer's market where the employer sets the terms of work and defines how much a worker could get paid to an employee's market where the employee could set the most convenient terms for them. It also meant that you could do more than one job at once as an employee. But, more importantly, it gave more people money without actively engaging in labor.

Economists have even argued that passive income is not an internet thing and that people have always been able to earn money even before the internet with stocks and shares. While investing in shares and stocks is an excellent way to make more passive income, however, it is at best speculative and something as wrong as someone waking on the wrong side of the bed and saying something they shouldn’t have or a company being mismanaged could wipe out all your earnings. On the other hand, the internet has brought about stable passive income sources, and there is no ceiling on how much you can earn.

Since the 2020 pandemic and the resulting lockdowns across the world ensured that many people lost jobs or were otherwise unable to earn money for various periods, many more people could survive that period with earnings from passive income and with the coronavirus panic still high. The world is on the brink of being locked down again at any moment. The time has never been right for you to consider alternative sources of income apart from your daily 9-5.

Fortunately, the internet has made earning passive income easy, such that regardless of your location, you can earn money legitimately without actively working for it and while doing other things. I will give you a few hacks that you can try.


Create Courses and Teach


One thing that has been constant in human society since the dawn of time is education. People will always go somewhere to learn new things and even refresh their knowledge of things they already know. The internet, through various media, has always allowed people to share the knowledge they have with others and get paid for it. With the pandemic, the number of people looking for knowledge on the internet has increased tremendously. Thus, if you know how to do something you feel others need to, you can create courses and sell them on the internet. Many popular sites will accept created courses for a token, and such sites are popular enough that they have a large audience such that your courses continue making money when viewed, even when you are not there.


Affiliate Marketing


Affiliate marketing is one of the best passive income opportunities available today. Most big brands have an affiliate program, so you can sell some pretty popular products and rake in good money. The only real downside is that you only make a commission off the sale. How much you can earn as an affiliate marketer depends on the product you are marketing and the company you are marketing for. For example, new companies give affiliate marketers better deals to get their products out faster. Also, if you build a good reputation, you would not need to look for clients. Instead, companies will come to you themselves.

So, make sure you research the best affiliate marketing programs before starting. Blogging tends to be the most cost-effective way to make recurring affiliate commissions without having to spend money on ads. The good thing about affiliate marketing is that it is even easier than creating courses because you don’t even have to set up any site or sell any products of your own.  


Become a Social Media Influencer

The lockdown due to the pandemic has allowed more people to use social media more. This situation has allowed influencers to garner more followers and Facebook, Twitter, Tiktok, and other social media platforms. If you are very social and can market and sell things, you can do more than market products. For example, you can help businesses get more customers. Several businesses will pay you influencer fees for every customer you bring for them.

Real estate agents are always looking to help more people find a home they love. Freelancers, DJs, photographers, and other solopreneurs will often be willing to pay a referral bonus for finding the customers to sign up for their service. Even those companies don't already have such deals in place, your ability to attract customers can leverage you to demand such a deal.  So if you love helping people make money, you can start building a passive income through your connections. All it takes is a couple of emails or messages, and you could earn without much effort on your part.  


Write an eBook

Do you have an idea or something valuable to teach or talk about and don't have the time to create a course on it? Or do you have an idea you want to share, but you are nervous about a class setting? Then write an ebook instead. Have an exciting story you wish to share, say a fantasy, romantic, or thriller? Write it as an ebook.

Ebook writing is similar to selling courses online, except that instead of teaching. You have a variety of themes. You can write fiction, self-help books, technical writing, non-fiction, and every other conceivable genre of book you can think of. The greatest thing about ebook writing is that you can make a killing from book royalties, and you don’t need to pay a publisher anything or incur publishing costs. You don’t even need to pay an agent or a publicist.

There are several sites out there where you can share your work and make money, and there's still a pretty good chunk of people who make passive income from writing ebooks to this day. The good thing about it is that you can make sales on ebooks indefinitely. Some people have made money on the same ebook for years. So far, you have your market, and you can pull your weight in your market. You can get steady customers without even stepping out of your house. You could build a fanbase of loyal readers by selling ebooks in popular niches and marketing them.


Trade Digital Assets

While stocks and shares are still excellent to invest in as they have been for centuries, there is a new fad now that people are plugging into and killing digital assets. Since about 2011, the world has been raving about decentralized finance, i.e., money that isn't being controlled by a central authority. The two most common creations of decentralized finance are cryptocurrencies and non-fungible tokens.

You can trade in cryptocurrencies and NFTs using your PC or mobile phone. You can also buy cryptocurrency coins and watch their value rise.  NFTs, among other digital assets, are also good digital assets to trade. The good thing about digital assets is that, unlike stocks and shares, you will need to have a lot of money to buy the most profitable shares, or how much your money appreciates depends on external factors; digital assets are totally under your control. You can control the price and how long you are willing to hold them for.

The good thing about digital assets is that as the world is growing increasingly digital, their value and how they will be defined will go up, which means you are not just going to make money. You are buying a stake in the future financial system.

Thanks to technology, your capacity to make money is not limited to your physique, your location, or how many hours of the day you can work physically. All you need is digital skills, an open mind, and a willingness to explore. With these, your path to financial freedom is secure.  
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