Requires extremely low start up costs, almost nothing. I think this is a very good way to start off a business generating passive income. You don't have to put high targets into this kind of business, although the potential is almost unlimited. But with network marketing, i hope to create a short term passive income. Why do I say short term passive income? Because I do understand that unless the company is super extraordinary, it will not stay there forever! Once the company collapse, there gone all the hardwork and effort spent on building up your team. But of course, you can always say that with your team you can always join another company anytime and be equally if not more successful. That depends on person to person. But my hope is to get me my first source of income.
2. Blogs/internet marketing
Why blogs? Because this stream of revenue takes even longer time than network marketing to develop. Getting sufficient flow of traffic to your website takes time and years of effort. The same as above, it is for short/medium term source of passive income.
3. Unit Trusts
Unit trusts offered by different banks and financial institutions offer very high returns with certain risks involved. The ideal situation would be using the stream of passive income to finance my investment in unit trusts, this way, I would have a flow pipe of my money. From the impossible, going to risky, and then later move towards safer/more traditional kind of investment/savings. People often speculate that different unit trust offers different ROI from 5-20 even 30%
Insurance saving plans is one of the best way for savings. promises security at the same time insurance, keeping your mind at peace. The same as above, hopefully, I will use my own money to start the saving plans and soon enough able to use my passive income to fund the savings.
5. Shares/stocks
Shares and stocks involves reasonably high risk and requires alot of time in monitoring the market. Unless you are talking about investing in companies with high dividend rates and has a stable position. offers high returns upto 30% or more if sufficient time is put into studying and researching.
6. Properties
Properties i think can offer the highest return if invested correctly. Prices of property in major cities in China has grown several fold over the past few years. Prices in KL grows in range of 2-3 times in short frame of 5 years. While in Singapore, it could be a 10-20% increase a year. A good investment IF locations are chosen wisely.
7. Gold/Silver
Lots of news about gold and silver investment. People have been saying keep gold coins as savings. A version of the saying suggests that money's value depreciate so fast because countries are printing money non stop, and everyone is getting into financial crisis, therefore more money is printed to boost economy and such. BUT GOLD has its value remains, it will be forever expensive and grows over time. It is back to the basic that GOLD is the most valuable asset one can keep.
8. Start a traditional business
Of course, when I have the sufficient passive income, i would start investing in a business or start a business. Becoming a boss in the end is almost the most enjoyable thing to do.
But who knows, the list might change from time to time, with education, exposure, growth in knowledge and skills. Maybe someday i meet a person like you who changed my life.
No comments:
Post a Comment