It is true that spending money is easier and more pleasurable than saving it. However, we can’t deny that earning more is more important in securing our future. What steps do you take to increase your savings and boost your income? Aside from your daily nine-to-five grind, you can have investments.
But not all investors have the luxury of time and skill to handle their investments on their own. Many of them just don’t like the idea of having to manage their investments but still wish to earn more. The good news here, thanks to the many accessible investment options these days, is that you can start investing your hard-earned money and gain passive income. The following are examples of passive investment options that you can consider adding to your portfolio:
Real estate investment allows you to build wealth, provide shelter for others, and have an investment that you can see. But if you’re not the type who wants to be a landlord, you can choose to hire a property manager instead. Another option is to invest in Delaware statutory trust (DST) properties. This allows you to invest in high-caliber properties managed by professionals. This means that you can earn even with just owning a percentage of the property and not having to manage it by yourself.
Certificates of Deposit
If you are into old-fashioned investments, then you can consider certificates of deposit. These allow you to invest your money with no income requirement. You get to choose how long you intend to lock your money in the bank, allowing you to earn interest in the process. You get better and more predictable returns than traditional savings deposits. Also, you get the protection of up to $250,000. You can choose how long the duration will be, ranging from a few months to 10 years.
Do you have a knack for creating informational content? Then why not create information products and sell them for a price. You can create an audio course or a video course, distribute it on different educational sites, and sell it to users. You can earn passive income whenever someone signs up and buys your courses. But you need to be good at explaining and create many products to earn a decent income.
Do you have a passion for writing just about anything under the sun? Then find your niche and start a blog. This is perfect for people with a passion for writing. You can start posting great content on a regular basis, boost your site, and share content on social media. One you bring in enough traffic, you start making money each month. Of course, there are many things to consider, such as using keyword-focused content and picking an income stream.
You can try these options to earn passive income and grow your wealth. Of course, some of these require a bigger investment than the others. But with research and by weighing your options, you can find a few options that will allow you to earn money with little to no effort.