Aug 8 in Money Management
Create Passive Income Streams
Passive income is earnings generated with minimal effort or regular direct involvement. Unlike active income, which requires continuous work, passive income streams allow you to earn money even when you are not actively working.
The goal of passive income is to create financial stability and freedom. It provides a steady cash flow that can supplement or even replace traditional income sources.
Here are my five examples of Passive Income Streams that you can explore.
1: Invest in Dividend Stocks
Purchase stocks from companies that regularly pay dividends. These companies share a portion of their profits with shareholders, providing a steady stream of passive income.
2: Rentals
Invest in rental properties to earn monthly rental income. This can be residential, commercial, or holiday rentals.
3: Create an Online Course
Develop and sell an online course on a platform like Udemy, Teachable, or Coursera. Once created, the course can provide ongoing income with minimal maintenance.
4: Write and Sell eBooks
Write and publish eBooks on platforms like Amazon Kindle Direct Publishing. Once published, eBooks can generate royalties with each sale.
Peer-to-Peer Lending
Invest in peer-to-peer lending platforms where you can lend money to individuals or small businesses in exchange for interest payments.
With any new venture, we advise you to do your due diligence, research, research, research, research before committing to any passive income stream.
Thank you
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Create Passive Income Streams
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Founded by financial adviser Emmanuel Asuquo, this group exists to help individuals achieve financial freedom through wealth creation.
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