If you have an asset that is generating you passive income and you don’t have an investment plan to utilize it then you might have to think about it. One thing we all have been repeatedly told that money generates money. So, it’s better that you invest in it.
However, if you are looking for some areas that will definitely provide you with some best options; these coming investment options are for you.
Why you should save and invest
By a wide margin the most significant motivation to save money is so you can have enough cash to do what you need, when you need, without anyone instructing you. The freedom you enjoy as a result is the reward for your savings.
Here are some ideas for the passive investment in 2020 you can exploit.
Conventional investment approach
You can start with a more traditional approach and invest your money in stocks and bonds. The investment plan involves some risks, but come on! what business doesn’t involve a little risk. With a better understanding and knowledge about your investment plans, you can avert any possible risk.
Even then if you think that you cannot digest any involvement of risk then go for the bonds. But, if you have what it takes to be a big fish in the future investment market then look for the option of dividend stocks. But it’s better to get some professional help, talk to an expert about your plans. You can find multiple accountants in London to give insight on tax related concerns and advisors who can give you options to work with.
Invest with bank accounts
Still, if you think that taking a significant risk with your money isn’t your thing, there are multiple options out there you can choose from. Banking investment is a safe and secure way to earn profit and gain from the interest rates. It is true that higher risks will give you higher rewards. There is not enough passive income in bank account investment but certainly it’s very safe and gives the peace of mind. If you have some spare cash lying around, you can invest it through a bank account.
You can start by investing a quarter into a three, six, nine and twelve month deposit. You will have to set them up. After the quarter end, they will earn you the interest. Then go into the one year term deposit to get the permanent income without any further hassle.
Bank rewards
You must look for the rewards and money back or cashbacks. Many banks offer them to their customers. This can be a good source for a passive income. If you spend money from your card, the banks will give you incentives, which usually come in the form of cashbacks and other related rewards.
Peer to peer lending
The Financial Conduct Authority now regulates this mode of investment. Peer to peer platforms actually work people to people or in simple terms people who have money to lend will lend their money to the people who need the money. There’s a significant risk of losing the money. People usually offer high rewards to mitigate the risk factor.
Launch you own startup
If you have the money and the energy, then what better way is there than starting your own business or a startup plan. It surely demands a lot of work but there are a lot of businesses that require very little work to start and give you a steady passive income. For example, vending machines and laundry, gaming machines and other businesses provides you freedom and space to earn easy money.
Look for the investment opportunities
Starting a business is certainly not easy. What if you invest in someone else’s business? People who want to stay away from all the technicalities usually invest in businesses. So, if you have the money to invest and a good business in your crosshairs you think that you can pour money, you can become a sleeping partner.
Consider renting your assets
We always possess some kind of asset that we are not using. The real skill is to find a way to put those assets into use and enable them into money making machines. Renting out your unused assets is the best way to use them. If the strategy works for you, in the next step you can buy more possessions for the renting purpose.
You can buy an apartment or even share your personal room with someone if you are a student for this purpose. This will earn you money without shaking your leg.
Advertise with your personal assets
You must have something, for example a car, house or a roof on your house which possesses commercial value. You can easily start advertising or lend them for advertising tips purposes. For this, you have to go to an advertising agency that will evaluate your assets and tell you about your options.
If you have a car and want to advertise for some agency, they will place an ad on the back mirror of your car to wrap your car for the purpose. This is a viable option for you if you want to earn some bucks sitting behind the wheel and just drive.
