Since the launch of the book ‘Rich Dad Poor Dad’ by Robert Kiyosaki, many discussions have been formed around the ideology of financial freedom. People are becoming more convinced that you need to work smart, not work hard. Making money while you sleep is one of the ideologies derived from reading this book. Money should work for you and not vice versa, which is mostly the case. There are plenty of avenues where one can make more money. Multiple sources of income are advocated to cater to different needs and wants. A real estate forum is one of them. Buying, renovating, and selling properties, both commercial and residential, is a way that people have gained an extra buck.
Real estate is a passive income for landlords and landladies. Money is paid monthly to your account from the rents and mortgages of the tenants. Land in any country is always valuable. The earth is rich in culture, and many people take pride in it. Another common source of income is business. Unlike rental income, business income can be daily. One can set up different businesses according to interests, talents, and passions. An owner of different malls might venture into agribusiness. Agriculture is a crucial backbone to many countries.
Capital gains are also a good source of income. Learning about the stock market is a plus for anyone considering capitalizing. One may also mitigate risks by deciding to spread their money in treasury bills and bonds. Treasury bills have a lower risk rate compared to the stock market. Dividends acquired from company shares also add to the list of gaining more wealth. One can put their talents into practice. Royalties and licensing incomes are earned by content creators, artists, and actors.
There is no reason to depend on earned income alone. Do not limit yourself to achieving all the goals. Dream big, think outside the box, and start your journey to be financially independent. The sooner you start to save and invest, the better. Financial independence requires a lot of discipline.