Passive income is when you continue to get paid after the work is done. This includes royalties from your talents and also revenue that comes from investments where you don’t have to be present to earn it.
But people have some misconceptions on it, that seem overnight success but the reality is, you need to work hard to earn passive income..
And this blog will help you understand and have the various ways to earn a passive income the right way…
Let’s get into that..
#1. Open High Interest earning Savings Account…
Once it is a passive income that you want, it it better to start with a savings account that would yield you a considerable interest each month or even a year.And there’re several banks that gives a reasonable interest on savings both offline and online …you can start with Stanbic bank which gives about 16.8%, or GCB has about 9.6%
And their all solid firms because their within the average of 11.6% of the BOG requirements
#2.Investments…
We invest in everything we do everyday, from time, to effort, to money…So turning it into passive income wouldn’t be something bad at all. You can invest in Real estates, trading, a bank, or even a friends company and receive some dividend. Fundrise or any other legit company can help you achieve that…
#3.Dividends
Dividends simply means have a share of a company’s profit at a particular accounting period as a shareholder…
You can partner with MTN shares,or buy stocks and start receiving some incomes on quarterly or yearly basis…depending on the agreements of the broker you choose…
Miracle Tele…is on best option to earn dividends on every 14 days..its a telecommunications investment company…
#4. Start Blog
Blogging is also one major way to start earning a passive income…it is simple and easy to start a blog and monitize it…
You can monetize it via, advertising, google Ad Sense, and also affiliate marketing..
download a check list on how to start a profitable blog…
#5. Rent out things
Renting out items, is one key way to start earning passive income.
Average rent in Ghana is about ¢250/m and imaging it for an advance payment of 2 or 3 yrs. A lot of money, also this will bring you non-stop income because people rent each and every year.
Some things like cars, canopy’s etc can also be used to rent to generate a lifetime income…
So basically all the above ideas can help you earn a passive income, over time and it needs patient…
If you find this helpful, please share to your friends,drop a like and comment..
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