There was a time when after retiring from the job, people were given monthly pensions to live a financially healthy life after retirement. Nowadays, there are very few government organizations that give pensions on retirement and the majority of the people, unfortunately, are unable to get a job there easily.
No doubt bragging a good job is one of the efficient ways to earn money, but the income is still limited. However, if you use the investment strategies side by side with your job, you can always double your income and live a luxury life even when you don’t work.
The following 4 strategies, therefore, will show how you can increase your income by investment.
1. Peer to Peer Lending (P2P).
P2P lending is one of the best investment strategies. As an investor, you need to select financial loans from the P2P websites and deposit funds accordingly. Once the borrower takes the loan from you, you get to enjoy the increased profit return rates for the entire pay-back period. Peerberry is one of the best P2P Platforms to start with. It offers loans with an interest rate of up to 12%. But, in case, if a borrower takes more than 60 days to pay back your loan, you don’t need to worry. The site instantly buys back your loan with the complete interest rate applied for the entire payback period. The site also comes with auto-invest feature. Once you set that, it automatically invests your deposited amount in the suited loans and accumulates profits accordingly in your Peerberry account. You can easily withdraw the amount quickly within 2 working days.
2. Mutual Funds.
This is another efficient way to invest and earn from your own money. It is important to analyze various aspects of a mutual fund before investing like- risk factors, analyze the ratio of stocks to bonds, tax efficiency, statistical measure, Sharpe ratio, etc. You can invest in two types of mutual funds- Stock Mutual Fund where you invest in stocks or shares of companies and receive huge profits in the form of dividends based on the rise and fall of the stock prices. You can make a lot of money by investing in stocks but the risks are higher here when there is a fall. Another kind of investment is Bond Mutual fund, where you make money with the applied interest rate. The risk is low in this case, but compared to stocks, the profits are less.
3. Real Estate.
If you own properties, offices or any spaces that are applicable for renting, go for it. Rent your private assets and generate a healthy cash flow monthly to increase your income. You don’t require to do regular work here. Once you rent the property with an agreement and adhering to the rental laws of your country, you are all set to make monthly income for single as well as multiple properties. But, if you don’t own any property, invest in the crowd funding websites. You can go for Fundraiser, Rich Uncles, Equity Multiple and Realty Mogul. These are some of the best crowd funding sites that connect you to a pool of investors to invest in third-party properties. You can choose the properties based on your deposited amount and receive monthly profits when they are rented or sold.
4. Dividends.
Dividends are the distribution of company profits to its shareholders and owners. If your income rate annually is high, you can invest in company stocks and shares. You need to find Blue-chip companies having steady growth and strong balance sheets. Investing in such companies is going to yield you high dividends monthly and yearly based on their accumulated profits. Further, if you want to avoid taxes on dividends, open a Roth IRA account and make contributions follow its rules to save from the taxes. Dividend investment grows your money with time. It not only increases your income but gives you a secured financial future.
Final Words.
Investment on your assets and fixed income products are the best sources to generate extra income. If you are looking for some continuous cash flow, follow the above-mentioned 4 strategies.
