5 ways to generate income even when you’re not working

written by JoseD

You work hard for your money. Wouldn’t it be nice if your money started working hard for you? By doing a little up-front legwork and investment, you can create an ongoing income stream that continues, even when you’re in relaxation mode. Here are some possibilities:

  1. Buy a revenue property. Sure, there’s an investment of time and money upfront, but once you’ve got the right property, mortgage and management strategy, the monthly income keeps flowing.
  2. Create an information product. This includes e-books, DVDs, online courses, etc. Obviously, the creation part is a lot work so is the marketing. But once you’re up and running with a successful product, the income is self-sustaining.
  3. Sell ads on your website. Build a site that’s attractive enough to generate high traffic (not an easy task!), then sell links and ad space which produce income.
  4. Be a peer-to-peer lender. Websites like Lendingloop.ca let you loan money to small businesses who then pay you interest. Yes, there’s a repayment risk, but that’s reduced by making many small loans rather than a few big ones.
  5. Invest in dividend-yielding stocks. These are stocks that pay dividends on a regular basis regardless of whether the share value is up or down. But you can still lose money, so you need to do a lot of research up front.

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