How To Generate Passive Income, By Phil Town.
Updated: Nov 1, 2018
In this video I talk about some of the commons ways to generate passive income. One of the easiest ways to get rich is to have your money grow for you, without you having to actually do anything! Investing is probably my favorite generator of passive income.
Source: Phil Town - Rule 1 Investing
Passive income investments are all about earning enough monthly, quarterly or Bi-annual income so that it can sustain your daily household expenses while maintaining your standard of living. There are various investment strategies that you can employ to achieve financial freedom. Passive income investments are not only for retired people, of course. Many kinds of investors may be looking to generate a little extra cash flow from their portfolio. We’ll discuss a few passive income ideas below. But first we’re having a look at what passive income is exactly.
Passive income investments include strategies that are usually employed when one wants to secure his or her capital and at the same time, generate regular monthly income. Passive income streams can come from a variety of sources like dividend paying stocks, investment funds, rental property, ETFs, bonds and loan notes to name a few. Generating passive income through different sources of income, and not just one, is important for diversification and from a risk perspective.
Achieving financial freedom when you turn retire at the age of 60-65 or when you choose to work less gives you peace of mind and stability. This stability gives you the time and resources needed to maintain a healthy mind and body closer to the end of your life. This may also allow you to enjoy time with your family and loved one’s.
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