Affiliate Marketing tops Forbes List

Affiliate marketing tops Forbes lists as the number one way to earn passive income in 2024!

What is Passive Income?

Passive income is a type of recurring income that is earned without working for an employer or a job. It doesn't require any active work where you receive money in exchange for a service performed. It is helpful to think about passive income as rent vs. wages, or in other words, as money earned from owning something rather than money earned from performing a service.

Once you make the upfront investment of time, money, and energy, passive income requires little effort to maintain. You get paid for owning assets that generate income over time. In addition, your passive income can even earn its own money, such as through compound interest from your investments.

What Passive Income is Not

Passive income is not a job or work that doesn't produce assets that earn income. Additionally, it's not an investment that won't consistently generate returns. In other words, passive income is the money you earn without having to put in a significant amount of effort or time.

What is Affiliate Marketing?

Affiliate marketing is the process by which an affiliate earns a commission for marketing another person's or company's products. The affiliate simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale they make.

Steps in Affiliate Marketing:

1. Define a topic or niche

2. Find affiliate programs to join

3. Apply to join an affiliate program, and then promote items you love

4. Be consistent

Passive income is the perfect way to earn a recurring income without having to work a 9-5 job. Affiliate marketing, in particular, has been hailed as the number one way to earn passive income in 2024 by Forbes. The beauty of passive income is that you get paid for owning assets that generate income over time. It's like rent vs. wages, where you earn money from owning something rather than performing a service.

Affiliate marketing is a great way to earn passive income. It involves promoting another person's or company's products and earning a commission on each sale. To get started, you'll need to define your niche, find affiliate programs to join, and promote products you love. While it may take some time and effort to establish yourself, once you've set things up and remain consistent, you'll start seeing passive income roll in. Remember, patience and consistency are key to success in affiliate marketing.