4 ways to Earn Passive Income

The idea of ‘working smarter, not harder’ came from an industrial engineer in the 1930s. It’s a genius concept, but almost a hundred years later, most of us are still showing up for a 40-hour work week.

‍

Can you really invest less time, and less effort, for bigger gains? Is ‘Passive Income’ just a fantasy? Online searches will give you some great ideas like: ‘Start an online business’ or, ‘Build your own app’. Sounds

good, but we can tell you from experience that neither of those activities end up being passive. Bye bye, weekends.

‍

Passive Income means a regular flow of money that requires little ongoing time and effort to earn. It’s not money from an employer, it may need some work upfront, but ultimately you get paid automatically,

without breaking a sweat.

‍

These options involve either making money from your money, or renting or selling something you own. If you’re investing your money, check your appetite for risk - an investment that brings you high returns but sleepless nights probably doesn’t count as Passive Income. It’s worth investigating:

‍

1. ETFs

Exchange Traded Funds (ETFs) are like a bucket of different kinds of investments, which can include stocks, bonds and others. They’re a popular way to get into the share market, because they’re more

diversified and are generally considered lower risk than stocks. Similar to stocks, ETFs can be bought and traded at any time.

‍

2. Drive down those debts

Debts can often end up costing you more time, energy and money than you ever intended. The sooner you free yourself from costly ongoing credit or loan repayments, the sooner you can redirect your money

towards other more exciting, income-generating opportunities.

‍

3. Rent out your stuff

Before you say, but I have nothing to rent! What about: Your spare room, your car, your parking space, your wedding outfits, your tent, your garage, your surfboard, your tools, your vacuum cleaner, your scuba

gear, your cricket kit, your office space and your laptop. There are people online who will pay to rent your backyard, and your mower. So get renting.

‍

4. Sell your stuff

This one’s even more satisfying than renting, because somebody comes and picks up the thing you don’t use anyway, and pays you more for the privilege. Clothing, jewellery, furniture, kitchen utensils, that

awkward mirror, outdoor settings, board games and books. Price it to sell and you won’t look back. So Passive Income isn’t just a dream! Curiosity, research, and a bit of entrepreneurial spirit will take you a

long way.

‍

Nothing in this article should be construed as being personal financial advice. It is general in nature only and has not taken into account your particular circumstances, objectives, financial situation or needs. You should consider whether the information, strategies and investments are appropriate and suitable for you or seek personal advice from a licensed financial planner before making an investment decision. Past performance does not indicate future performance. BlossomApp Pty Ltd (ABN 74 644 216 151) is a C.A.R. (No. 001284228) of Gleneagle Asset Management Ltd (AFSL 226199).

‍