passive income
How can you earn your passive income? In a very simple way you can earn interests from your bank deposits. To have enough interests to cover all your expenses, you need a huge amount of savings. Not to mention that you should still be aware of inflation that is eroding your buying power.
So, what else can you do? Why do not you think of investing? There are many choices about where are you can invest your money. You can look for them in the internet, to an investment company, or even your bank, where nowadays banks also sell investment products.
I will give you some common idea of investing:
- You can invest in property
You can buy a land with a low price in a strategic location and hold it. When the land’s price increases, you can earn some capital gain (the percentage of gain depending on your location and the property market price at that time).
Even you can grow something in your land while you wait for the price to increase providing the soil of your land can support farming. You can grow tomatoes, potatoes, whatever you want and sell the products to the market, by doing this not only you receive some money, but I’m sure it would be fun for the family also to visit there during the holidays.
- You can invest in stock market
Some stocks in stock market is a very aggressive investment tools, but remember “High risk – high return”. To be a smart stock market investor you must keep yourself aware the difference between investing and gambling. - You can also invest in bonds
Bonds is a quite stable investment tools. By putting your money into bonds you receive bond interests, but at the same time while the bond price increases, you could have some capital gains. When hold to maturity; bonds are paid back in full, that is, 100 % return on capital. As an investor, you should learn some facts before putting your money into it. - You can do house or room rentals
You can invest in houses and rent them or just rent some rooms to tenants. While waiting for your property value to increase, you can earn some money from renting.
There are still so many other ways in businesses and investments that can give you passive income on your retirement days.
What you need to do is to think, to look for it and to be creative.
“Sometimes it’s more risky when you choose to take no risk at all”
