Passive income, also called residual or recurring income, is money you earn without having to do anything at all. It’s typically created by an investment of some kind – stocks, bonds, rental properties, etc. But what is passive income and why does it matter? What strategies must you have for the year 2022 automated passive income? Many people have passive income streams in their portfolios for this very reason – it’s an easy way to make money without working too hard. But why is passive income important? It matters because having some form of passive income can help you reach financial freedom sooner. So what are some ways to make money passively?
Why does Passive Income matter?
In our society, we’re always striving to do more and working harder. We’re often taught that the best way to be successful is to work as hard as possible. But if you’re looking for a new way to make money, passive income may be the answer. The new slogan is “work hard smartly”.
Passive income isn’t about working harder – it’s about working smarter. Instead of putting in more hours at work, we can focus on investing our time and energy into something more meaningful and profitable. Passive income gives us the chance to build wealth so we can be financially secure and independent. Read carefully as I present to you some strategies for the year 2022 automated passive income via compounding investment.
Targeted Project for the Year 2022 Automated Passive Income
Your targeted project for the year 2022 may include the following:
- Raising capital for Investment/Business;
- School fees (for your kids or self);
- Loan repayment;
- Debt servicing;
- House Building Project;
- Charity, etc.
Simulate Your Compounding Investment
Before you commence with the investment process, simulate how the process will look like. This will help you make informed decisions. To simulate, visit www.thecalculatorsite.com (Choose: Compound Interest Calculator). See the example below:
Initial balance = $1,000
Interest rate (Monthly) = 10 – 20%
Compounding Duration (Years) = 1
Compound interval: Daily (365)/yr
Withdrawals = $0
Future investment value = $8,916.10
Total interest earned = $7,916.10
Effective Annual Rate (APY) = 791.61%
Required Tools needed for the Year 2022 Automated Passive Income
In order to succeed in setting up the compounding investment strategy for the year 2022 automated passive income, you need the following: Smart Phone and Apps; Internet Connectivity; Right Information; Take Informed Action and Patience!
In this era of digital wealth, you cannot afford not to have the following apps on your smartphone:
WARNING: Safekeeping of Key phrases/passwords is very important. If you forget them, you lose your assets forever!
- Exchanges [Binance, Huobi Pro, CoinBase Pro]
- Mobile Banking [Kuda]
- Social Media [WhatsApp, Telegram, Zoom]
- Emails (Protonmail.com – end-to-end encryption with automatic email security)
- Google Authenticator
- TabTrader App (Monitor Price Alerts)
Sources of Capital for the Year 2022 Automated Passive Income
Definitely, you need some capital to set up the compounding investment strategy for the year 2022 automated passive income. These are some of the suggested sources of income:
- Online Business – this is for those people without jobs (Download a free mini-ebook on 20 Tips for Creating Multiple Streams of Income through Legitimate Online Home Businesses from https://ebookhawker.com/);
- Thrift contribution (group saving schemes) – also known as Ajo, Adashe or Esusu;
- Soft loans – get some facility and make sure you strictly invest it;
- Assets liquidation – you can decide to liquidate some of your properties instead of leaving them to depreciate. Any asset not attracting income is a liability!
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Also, you should read this post.
Remember, if our lives must change for the better we cannot afford to be casual but we must approach life with ruthless aggression.
WARNING: Beware of scammers! I will never request money from you. The compounding investment strategy for the year 2022 automated passive income will NOT require you to hand over your capital to anyone else.
DISCLAIMER: I am not a financial advisor or I am not “your” financial advisor. Do not accept information presented herein at face value. Do your own research.