Oct 17, 2017

Posted by in Fianance

Best Passive Income Solutions for Financial Independence

Let’s assume that you have a well paid position in a prestigious company. You earn a lot of money and over the years you have put some money aside. If you were to lose your job tomorrow, for how long would your savings last, if you were to maintain your current standard of living. But maybe you are not at anyone’s mercy. Maybe you own your own company. What would happen if your business went bankrupt tomorrow? Do you see where we are going with these examples? True wealth is not dictated neither by your salary not your position. True wealth means being financially independent, or more simply put, it means having more than one source of income. If you are interested in achieving true financial independence, here are the best sources of passive income that you should consider.

1. Dividend stocks

Having a lot of savings in the bank is a reassuring thought that can help you sleep better at night. But what if you were to put that money to work by investing it in some good dividend stocks. Finding the right stocks, depends on your particular needs. For example, if you want to supplement your current monthly income, you should look for the best monthly dividend stocks. On the other hand, if regular monthly payments are not your main concern, you could always choose dividends that make quarterly, biannual or annual payments. It all depends on your particular needs.

2. Real estate

If monthly dividend stocks seem too risky for your taste, you could always consider real estate. You don’t need to be an expert to make money from real estate. You just need to have enough money to invest and to afford to have that money stuck for a while. Aside from that, the strategy is pretty simple: buy when the prices are low and sell when they are high. The real estate market goes through the same cycle every 7 years. Even though everybody knows about it, this cycle is inevitable, and the only thing you can do is to take advantage of it.

3. Online investment opportunities

The online world is very big and diverse. There are countless investment opportunities, and it can be quite challenging to find the opportunities that are best suited for you. You could, for example, buy a blog with a good authority and make money from affiliate programs or from Google ads. If you don’t want to buy a blog, you can write it yourself. Use your real expertise and become an authority in your field of work. You could also build an online business and outsource the work. Platforms like Freelancer, Remote and Upwork allow you to outsource any type of work.