Passive Income Opportunities in the USby Linda Terrill Writer
Nothing in this
world is handed to you on a gold platter without an effort being made on your
part. Other than if you are lucky enough to score a lottery. But even then, you
must have gone through the trouble of purchasing a lottery ticket and investing
your money in it. So, case in point!
Likewise, there is one such enchanting concept that requires an initial effort from you in the form of an upfront investment, or devotion of your precious time, to create a gift of income that keeps giving. This laudable idea is known as passive income.
Our surroundings, nowadays, are abuzz with passive income opportunities that range from creating a personal blog that generates views and a sweet cash inflow, to renting your car for services such as Uber. However, the most common of these income streams, specifically in the U.S., are as follows:
· 1. Earning a steady stream of rent from renting out your real-estate property investments, thus taking advantage of your Investment Portfolio.
· 2. Building on your investment portfolio by plunging your capital into high yield savings accounts and money market funds to create a safe passive income flow.
· 3. Earning higher interest rates by dipping your toes into peer-to-peer lending, i.e. lending to borrowers who are not qualified for traditional loans.
· 4. Amassing a nice residual income over time by adding equities, REITs (Real Estate Investment Trusts), and other securities to your investment portfolio.
· 5. Using your creative skills to generate passive income, by either writing an eBook and publishing it online, creating online courses, selling your stock photos, licensing your music, designing custom merchandise, selling digital files on Etsy, creating a software or a simple app, or monetizing your book reviews by affiliating with Amazon, etc.
Thanks to the advent of technology and the pace at which it has grown, the possibilities of producing passive income are limited only to the extent to which one can use his/her skills and capabilities. The options are, therefore, limitless, and the opportunities boundless. So, use your time productively and make your money work for you.
Created on Jan 4th 2019 01:58. Viewed 345 times.