5 recession-proof ways to make passive income, according to financial planners
Investing in a self-storage company is one idea for recession-proof passive income. I want to make sure I have passive income coming in if a recession hits, so I asked experts.
Financial planners recommend investing in self-storage and other real estate, including REITs.
Self-publishing books, renting out your stuff, and opening a savings account or CD are other options.
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As an entrepreneur who runs a service-based business in the wedding industry , I’m always looking for ways to bring in new sources of passive income. I don’t want to work more than 50 hours a week, and in order to keep that work-life balance, I’ve found I need new ways of generating income that don’t involve so much of my time.Over the years, I’ve made passive income by selling online courses and ebooks, and doing affiliate advertising on content I create for my own website or social media channels.With the talk of a potential recession approaching, I’ve found myself nervous that I’ll need to find new ways to bring in money. That’s why I asked financial experts to share some recession-proof passive income streams that might be worth considering in 2022. 1. Invest in self-storage If you have the cash available and you’re looking to take on a new business venture, financial planner Tammy Trenta says it could be a good idea to look into investing in self-storage facilities.Since recessions might call for people to sell their homes, downsize, or temporarily move to new places, investing in self-storage facilities could not […]
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