The ability to generate a passive income is a desire most of us have. We may not recognize it as such, but the desire to live without having to work seems universal. A challenge with this goal is that we often focus on completely being self-sufficient with our passive income. Although this is an understandable goal, it can be too big and cause us to lose hope in it as possible.
Paid To Have Fun
One alternative to being self-sufficient is to love what you do. When you get paid to do something you would do for free, then you might as well consider yourself retired. You can do that the rest of your life. This situation is not only ideal; it is achievable early in life and at almost any stage. That is not a passive income though; you still are required to do something for that money.
Early and Often
Any good book or article on saving money will point to the impact of time on savings. The earlier you start saving money and investing it, the more your money can be put to work for you. This is the original form of passive income. There is an allure of building a site, creating a product, writing a hit book, or one hit wonder paths like these as a way to generate passive income. The struggle is to get something that hits big enough to move forward on its momentum. There is a lot of work that goes into these achievements, and often they require skill and some luck as well.
If your focus is on using your money to make more, then you need less skill to do so. Better yet, this has never been truer than it is today. There are options for micro-investing in a broad range of areas that allow you low-end entry and excellent return rates. Therefore, you can test out several strategies to find the ones that work best for you.
Get Started
Real Estate: https://fundrise.com/
Loans: https://www.lendingclub.com/investing/alternative-assets/how-it-works
Products: https://microventures.com/
Ideas: https://cashcofinancial.com/2018/02/8-micro-investment-options-that-will-work-for-your-tight-budget/
