What is Wealth?
Wealth can be defined as….” How many days, weeks, months or years one could live to the level of their dreams IF they were to STOP working!”
If you’ve always wanted to retire early, but you also love money, setting up a passive income stream could help you realize your dream. Whether you choose to invest your money to make it work harder or start a low-input business, using your free time to set up a reliable stream of income that doesn’t require you to work actively is the key to financial freedom.
Whether you wish to boost your income or plan to retire early, here are some ways that may help you earn money passively.
Invest in real estate – Depending on the real estate market in your area, buying property could be a great way to earn passive income. But purchasing an investment property means getting a home loan, and your rental income won’t necessarily cover the loan repayments in the initial years. But once a substantial part of your loan is paid down, you’ll start generating income from the property as your mortgage expenses go down.
Invest in shares and funds – Investing in shares could help you build a passive income stream. The success of your investment strategy depends upon your ability to select good quality shares in line with your risk appetite and goals.
Rent your shares – Not only can you buy shares, but you can also rent them out to other investors who pay interest and take a short position. Financial success doesn’t guarantee happiness, but it provides a kind of freedom.
Imagine having a passive net income that can more than adequately cover your desirable lifestyle expenses; where you are able to live without financial restrictions.
Our job is to get your money to work for you, not you to work for your money. At Simply Wealth, this is exactly what we show you how to do.
Please contact us for clarification, or further advice, regarding any of the topics covered in this knowledge center.