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Home International

Americans turn to passive income as pandemic reshapes work

Prince Kobby DogbeybyPrince Kobby Dogbey
May 5, 2022
in International
Reading Time: 2 mins read

The COVID-19 pandemic prompted many Americans to explore passive income opportunities after job losses and economic uncertainty led them to rethink traditional employment.

One example is Aubrey, a former hotel worker in Florida, who began selling low-content books such as notebooks and journals on Amazon after losing her job. Although the earnings are modest, she says the venture provides additional income with relatively little effort.

Get more exclusive breaking news updates on our WhatsApp channel .

The growing interest in side hustles has been reflected in rising online searches for passive income and increased participation in online communities that share money-making ideas. Experts say the pandemic encouraged many people to diversify their income sources rather than depend on a single employer.

Some entrepreneurs have achieved remarkable success. Kat Norton, founder of “Miss Excel,” turned free Microsoft Excel tutorials on TikTok into a multimillion-dollar online education business after leaving her consulting job during the pandemic.

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However, experts caution that passive income is rarely effortless. While some people have built successful businesses, others have lost significant amounts of money after investing in expensive courses and unrealistic get-rich-quick schemes.

Many people pursuing passive income are instead using it to supplement their earnings through hobbies and skills. For example, hobbyist Brett Parsons earns extra income by painting and selling collectible tabletop gaming models, combining personal enjoyment with financial benefits.

Analysts say the pandemic fundamentally changed attitudes toward work, with more people seeking flexible and diversified sources of income to improve their financial security.

Tags: COVID-19

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