3 Ways to Make Additional Income During Your Day Job
November 16, 2018 (Investorideas.com Newswire) There are few people in the world who wouldn't like to have a little more money. Fortunately, there are plenty of ways you can earn additional income while still enjoying the security of your day job.
Passive income is money earned from work you do that provides you with a return, requiring little or no continued effort on your end. Depending on how much time you have to spare, you can earn money while you sleep, eat, or work your day job. Here are three ways to make additional income.
Go Into Real Estate
Real estate has historically provided a relatively good return on investment, and with property values rising, many people are finding it difficult to buy on their own. The 21st -century solution to this problem is crowdfunding. There are a range of options for people who want to invest in real estate but only have limited funds with which to get a piece of the action.
For as little as $5, you can be part of a real estate investment trust with its own portfolio of income-generating properties. This investment model makes real estate an affordable option for people with a relatively small sum to invest, and there are hundreds of options to suit your budget. You can choose to focus on single-family homes, student accommodations, or high-end living spaces.
Invest in Stocks and Shares
Although trading stocks can be a full-time job, there are ways to invest that can earn you an income while you do nothing. High-yield savings accounts or money market funds can provide a return without much effort on your end after you've placed your money in your chosen account. As long as interest rates rise, your investment will yield a return. Even if they fall, you are not risking your capital.
If you want to increase your potential income without dedicating a lot of time to your investments, it is also possible to use an automated system to earn you a passive income. A robo-adviser will invest your money in the stock market automatically so you can earn a return without doing anything.
If you can spend a little time each day investing, then day trading could be your ideal additional income stream. But what is day trading? Day traders buy and sell stocks, futures, derivatives, options, and currencies within the same trading day, ensuring all their positions are closed by the end of the session. Because the investments are short-term, some traders manage to get a significant return on their investments simply by dedicating a few moments of their time a day to managing their portfolio.
Day trading can take as much or as little time as you have - some people make an income by trading during their work day, on breaks, or during downtime. Because you are only trading day by day, you can fit it in around the rest of your commitments and spend your spare time increasing your earning power.
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