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I will be breaking down my 3 passive income streams that have helped me generate a little over $2,000 per month. If you are watching this video, chances are you want to get ahead in personal finance and reach financial freedom. So make sure you subscribe to my channel for more videos like this. I just want to show you that it’s possible to achieve. I hope today’s video can inspire you to generate your own passive income ideas.
My first passive income is writing covered calls on stocks.
Chances are you already own stocks. Writing covered calls is a low-risk strategy to boost your income. When you write a covered call, you receive income in the form of premiums. In exchange you have an obligation: you may be required to sell your stocks at a pre-arranged price. This approach comes with one risk: you may be forced to sell your stocks – at a profit. Also, It’s important to sell covered calls in a disciplined way. The worst case that can happen to me is that I keep the premium and I sell my stocks at the price I bought them for.
My second passive income is owning Dividend Growth Stocks
First, Dividend Yield. It is just like the interest you are receiving from your savings account. Two main considerations before you invest in Dividend Growth Stocks. #1: It indicates the minimum rate of return you can expect to earn on your shares. #2: It determines whether you can expect this investment to beat inflation. I am not going into details about dividend in this video. Watch my video on “How to Retire Early With Stock Dividend Yields” to learn about the details.
The second component is covered call! You can write covered calls on dividend growth stocks to earn extra return on top of your dividend yield!
The third component is stock price appreciation.
My third passive income is renting out my unused space.
Parking spots: This could apply whether you live in a house or apartment building. If you are not using the parking space, don’t let it sit idle.
Garage or locker room: You might be surprised by the demand for personal storage. The newer condos are getting a lot smaller.
Also, you can rent out extra rooms to friends, and family members. You can also rent out spare rooms on Airbnb.
These 3 passive income ideas have helped me generate over $2000 every month.
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What to Watch Next:
‣‣ Should I Wait To Invest In The Stock Market: https://youtu.be/lO0cj9unl7g
‣‣ Best Stock to Buy Now In 2020 | Watch Me Invest 10000 dollars: https://youtu.be/7_GHbKjFTEg
‣‣ Top Stocks To Buy For 2020 | Recession Proof: https://youtu.be/YFzTZqogm4w
‣‣ US Stocks Drop | My Recession Proof Investing Plan for 2020: https://youtu.be/yKWqvl7ck3U
‣‣ Canadian Stocks | My Recession Proof Investing Plan in 2020: https://youtu.be/BB9IfLg6XYE
📚Stock Investing Books I recommend (Amazon.ca):
‣‣ Trading for a Living: Psychology, Trading Tactics, Money Management : https://amzn.to/3fHY3UQ
‣‣ The New Trading for a Living: https://amzn.to/2YRXNN4
‣‣ Hedge Fund Market Wizards: How Winning Traders Win: https://amzn.to/2SWFpyQ
📚Stock Investing Books I recommend (Amazon.com):
‣‣ Trading for a Living: Psychology, Trading Tactics, Money Management: https://amzn.to/2TZ25z9
‣‣ The New Trading for a Living: https://amzn.to/3eJ60b7
‣‣ Hedge Fund Market Wizards: How Winning Traders Win: https://amzn.to/36S7Eoi
▶︎ For business or consulting inquiries, you can reach me at email@example.com
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Passive Income Ideas Stocks, Passive Income Ideas for Stocks Investors, Renters & Landlords.
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Covered Call Stocks For Passive Income
It took 6 hours and $572 to do the preparation work, and he offered $31,000 of these plans !! While it is simple to tread, it is not for the impatient. There are a variety of ways for you to start earning money now.
A lot of people would like a possibility to get paid for very little work. It would be nice if all the work you did paid off frequently for the rest of your life with no extra work from you. While this might look like an insane idea, there are in fact lots of ways that you can make passive earnings every month. This is simply earnings that comes no matter what you do, and needs no effort to keep. It might feel a little like getting money for complimentary, although you should make clever monetary choices or an initial investment to receive the money. Below are some ways you can make this kind of earnings.
Now, I have a setup where I can work if I want or play if I want – at my own discretion! I decided a number of years ago that I might quit my everyday job, establish some more passive income sources and do what I want whenever I want – for the rest of my life! If the government wishes to give me a Social Security inspect at some time in the future, I definitely will not turn it down, but we can get along rather well without it, thank you.
Everybody is trained from the day that they’re born to go to school to get an education so that they can get a good job. This isn’t bad, but no place were we ever taught to develop long term earnings. Our lives focus on per hour salaries and the next paycheck. In developing passive income streams you can break devoid of the cycle and put the power of recurring earnings to work for you.
When you are looking for passive income ideas, you are going to want to have a look at a few of the most effective people on the planet. One of the factors that a number of these people are so effective is due to the fact that they understood how to put themselves in a position where they were going to be making an excellent earnings. By studying the ideas that they had, you’ll start to get some ideas of your own.
In today’s society, there are lots of possibilities open to us. We don’t have to choose the normal paycheck from one job. The apparent solution for many individuals is to get a second job, but there are lots of more opportunities. You can start saving money and investing it in stocks or bonds and receive earnings from these investments. You can start a part-time company, such as produce that scrumptious jam you make and offer it to your next-door neighbors. With a little development and effort you can get a long method, and only your creativity sets the limit.
Focus mainly on providing solid info to your readers. In order to get sales, your credibility should be high and this can only be achieved by producing a quality advisory blog. If a reader is impressed by your advice, they are far more most likely to buy any product you might promote.
Do earnings from numerous different sources seem like something for you? Then it is time for you to take action. Be innovative and start developing more earnings sources for yourself today.
Stock rates volatility (instability) is a difficult reality of investing on stocks. However wealthy, economically complimentary people generate income in a far more efficient and powerful manner.
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