There’s nothing like passive income; money earned while you aren’t actively working to earn it. Most of us women dream of this; relaxing under the sunset with our family while money streams into our bank accounts. Who wouldn’t want that?
This income stream is great because you do the hard work just once and earn continuously after that. So, if you would like to earn passive income, here are seven long term streams of passive income you should consider:
1. Sell an Ebook
Ebooks are the next big thing and you can write on just about any topic you have extensive knowledge on. There are also tons of platforms you can sell your books through with ease (Amazon Kindle Direct Publishing, Barnes and Noble, or you can decide to sell yourself through a blog).
2. Get Blogging
Blogging is fun, but is is also a lot of hard work; you have to get quality content which you update daily and then proceed to drive massive traffic to your blog.
However, once you break even and/or become known, the money starts to roll in and this is when every of your hardwork would seem so worth it.
To make money from your blog, though, you would need to monetize using one or more affiliate programmes or links.
3. Treasury Bills
I got sold on this stream of income from the moment I heard of it. It also didn’t hurt that I was getting the interest upfront. So I fixed a certain amount and at the end of the tenure, pulled my money out to be used for what it was initially meant for.
The way treasury bills investment works, you fix a certain amount (usually a hundred thousand and above) for an extended period and get the interest paid instantly into your bank account. At the end of the tenure, your capital is paid back into your account or rolled-over (continue). You can fix your money for 31 days, 91 days, or 181 days.
You should also note that the percentage of interest you get increases the longer your money stays invested with the bank.
4. Shares & Stock
Investing in shares is quite dicey; you could lose or gain a lot of money, depending on the market. This is why you should only employ the services of a seasoned stockbroker who will monitor the shares on your behalf.
With shares, you get dividends yearly and you also stand the chance of getting bonus shares, based on the discretion of the company you invested with.
5. Invest in Real Estate
Okay, so this is usually not one of the first options on our minds as women, especially if our husbands are yet to go into this line of business. But real estate remains one of the best passive income. Not only do you continue to earn for several years to come, you do so at an increasing rate.
There are also several angles you can delve into ranging from owing a block of flats, an event center, to owning a set of shops.
6. YouTube Videos
Did you know you can become wealthy just by recording those fun moments with your kids you overlook? Yes, there are millionaires spring up on YouTube every so often.
These videos are uploaded to YouTube and monetized and you earn money from the adverts placed in them by YouTube.
7. Become a Silent Partner in a Business
You can invest in a start-up business with a proven prospect to succeed or one which is already successful but requires capital to expand.
Put your money into it and go to sleep while your money goes to work for you.