I have a very nice giveaway on a special Saturday post.
After my three posts on the book Passive Income, Aggressive Retirement
, author Rachel Richards contacted me.
She volunteered to give away three copies of the book to ESI Money readers!
Sweet!
Here are the details of the giveaway:
- We’ll be giving away three of the books, one to three different winners.
- To enter, all you need to do is leave a comment below telling me which passive income idea you like best, which one you are pursuing, or which one you’d like to pursue. This should be fun!
- Be sure to leave your email address when you leave the comment so I will know how to reach you if you win (the email address will not be visible to anyone other than me).
- The winners will be selected by me at random.
- The selection of winners will be held on Wednesday, June 17, 2020 at noon Eastern time.
- Once I hear from all winners, I’ll provide the names and addresses to Rachel and she’ll mail out the books.
As with most giveaways, there are rules. Here they are.
Good luck!!!!
Best of the ides is REITs. Have chosen that as my real estate exposere for a few years, now.
I see it as a potential inflation hedge, for when that eventual becomes an issue, again.
The passive income, I feel, and the easiest, and less labor intensive, is dividend investment holdings. I currently have such holdings and through reinvestment have increases that stabilize my portfolio for future income gains.
My absolute favourite passive income streams come from property (80% of my portfolio) and dividend investing (20%). This is also the vision I am working towards. Why this vision? Having grown up in Eastern Europe, I still cannot trust the Universe that there will be a long term – the downside of experiencing too many crises too often. So I prefer to have assets that bring cash in today. If they appreciate/grow – amazing! But I don’t count on that. Instead, if something happens and money can help, I can sell quickly and put out the fire.
I am currently buying my first property, but to get where I want to be, I may need to use other $$$ generating approaches. I am currently considering starting a blog to help speed up the process. Still unsure though. I want it to be fun fun fun, not another obligation as I’ve got plenty of them. I can read Passive Income while still contemplating my next move 🙂
I have been waiting for the past 3 years (have young children, needed to first get debt under control) to start investing in residential real estate rentals. I don’t feel very comfortable putting any additional money in the stock market as that is currently where we have nearly all of our relatively small net worth. In my mind the timing could not be better. Real estate is step number 3 in our early retirement plan.
I’ve never commented before but I really enjoy the millionaire series.
My favorite idea is the one I currently pursue, portfolio income. The subset of this that want to eventually try is dividend investing. I currently invest primarily in total stock market or S&P 500 index funds, but would like to have specific dividend funds.
Rental income from property has fascinated me for some time, but after having some recent vandalism (in a good area of town) I am less inclined to consider this in the future. The prospect of vandalism and/or “one bad tenant” wipe out years of gains scares me.
I’ve spent the last ~30 years building a substantial Portfolio income. Although I’m not retired just yet, I expect to be shortly. Note that my portfolio contains some REIT exposure too, so I have some of what Rachel would describe as Rental income. As I transition into retirement, I plan to work on Royalty and Ads/e-Commerce. I know Royalty income takes a massive investment in time, but when I retire I’ll have the time, and I’ve always wanted to be a writer. At the same time, I see no reason I can’t start a blog around some of my passions and generate some income that way. Again it’ll take some “Stage 1” investment, particularly of time, but I should have that in abundance once I retire.
I learned from my father that buying stocks, mutual funds, and bonds will make retirement more enjoyable and less stress free. My mother had her “black book” where she updated each month the dividends that were received and the totals per each month were impressive. Dividend, bond and interest income are my passive methods for a happy retirement.
Dividends, which I’ve been investing in for years now. REITs are next on my list to start, and really should have started some time ago. On both, it’s simplicity, ease and relative to the others, liquidity.
Tried blogging but couldn’t stick with it after 2-3 hours daily for 6 months without success. Perhaps my topic area didn’t have mass appeal.
Thanks for a great blog. Sophisticated investors are following, and the post discussions are excellent!
Diversification is for me, 401k, Roth, rentals, cash.
I love the idea of rental income through real estate for income replacement in retirement. I’m risk averse however and know that I’d want to pay cash for a property, thus delaying that timeframe. I think dividend investing is my most likely scenario for passive income. It fits best with my current and future investment goals.
The passive income idea I like best is dividend investing. This year I went through a very informative course on dividend investing and have bought three positions to date. The three ways of potential profit are very attractive to me 1) price increases, 2) dividends themselves, and 3) dividend growth.
My husband and I are trying very hard to build our passive income streams early. We already have 3 long term rentals. I would love to try short term Airbnb renting. Less realistically, I have always wanted to write a book. Maybe in early retirement! Thank you, I’ve enjoyed this series very much.
I have owned real estate for quite a few years as a semi passive source of income. Now that I am retired, the hassle free concept of dividend stocks is becoming appealing, especially in tax free Roth accounts. A few years ago I read a book called Dividends Still Don’t Lie, by Kelley Wright, and it was impressive and full of stats in favor of dividends.
I have owned a few businesses. My main healthcare business I work in so it is not passive, even though I work my own hours and come and go as I please. My second healthcare business was passive as I had a manager and 4 other workers, recently sold it and took the capital gains and invested in an Opportunity Zone passive investment where it will sit and grow tax free for 7-10 years.
I had a vending machine business which I started, placed 22 machines, then I sold it to my worker who is paying me monthly with interest for the business.
I own a retail strip center which I believe was one of my best investments. Totally passive NNN leases with Recession and Covid proof businesses (except for the nail salon tenant which has finally opened back up)
These investments have brought my net worth up from 1mil to10 mil over the past 12 years.
You are ballin’ Dan!
I am pretty much all in the “Portfolio Income” tier but would really like to get into both the “Royalty Income” or “Ad Income.” Did the whole rental income thing for a while and it was an OK experience. I am strongly considering NNN properties to diversify the portfolio.
My favorite at the moment is investing in stocks. I’d like to get into real estate soon and also figure out another side hustle to pick up as well
Thanks for the giveaway. I would like to figure out how to get into REITs as passive income. Thanks!
Currently pursuing dividend income and saving for 1st real estate property.
The part I like the most is dividend investing . Never really had the cash to think much about rentals but enjoy the dividend payment and the small amount that I play in the market with . A small pension plus dividends and Social Security should get most of my retirement needs . Thanks for your information on investing and retirement.
I like the real estate rental passive income stream best for me personally, and we currently have 4 long-term rental properties that will provide steady income at my retirement (next year!). We are building our “retirement home” in Vermont this year, but as we won’t live there year round, I am very interested in exploring the Airbnb option for passive income for when we are not there (it’s a lakefront property near a ski resort, so we figure we have 3 popular seasons for visitors – summer lake living, fall leaf-peeping, and winter skiing). But, as I fully agree with you on creating multiple streams of income, beside the real estate arena, I want to learn more details on dividend income (I am currently more growth-oriented, and plan to shift a portion of my portfolio in that direction on my retirement next year). Thanks for the continuing education here on ESI!
Real estate.
Dividends. It is really amazing to watch these compound for long term holdings. And they truly are passive.
Interestingly, my 16 yo daughter was asking what a dividend was this past week.
Long term rental. Passive most of the time if one has decent properties and qualifies tenants rigorously.
Dividend interest income is my preferred choice for passive income. It’s the least time consuming for me.
Book sales has been great for me. I self publish, price it high and make great money on every copy sold. It is not sold on Amazon or regular book stores, so I can control price (and profit!). It’s been sold in almost 50 countries to date. I’m working on a second one as we speak.
Thanks for all the great blog content.
I am curious what your topic is since the interest is global.
My favorite is the dividend investing, as that requires a very small cash outlay to start, and can scale over time very effectively.
My wife and I were planning on getting into real estate but paused moving forward once COVID-19 hit and the economy took a hit. We still want to purchase real estate but we want to have a much large emergency fund to be prepared for multiple contingency plans.
Thanks for the posts! I enjoyed them!
I’ve enjoyed your review of this book tremendously and would like to read it myself. We’ve had 4 rental properties during the last 20 years which has enabled us to have a pretty comfortable retirement. Now , reading about dividend income in this post has sparked an interest in learning more about it. Love your blog and the insights I gain from it.
Thanks 😊
I would love to learn more about dividends as a passive stream. I am in real estate and have always believed this would be my best retirement strategy but it can be cumbersome. Love your blog. It is hard to find financial advice for those of us late in the game.
I think I would like to try investing in REITs. It seems like you get the benefit of investing in real estate without the headaches that come with being a landlord.
I am buying growth stocks now while the market is still down. I will switch to dividends when the market get back to Dow 30000.
I am also just starting to market my new storage units. I just finished construction on 15 units at a cost of $120000. They are all 10’ x 20’. So far I have 75% rented.
I am also getting into commercial real estate as well. I need a lot of passive income in retirement which is a few years away.
Thanks for the opportunity to get a free copy of the book.
All the best!
Dividend income is my favorite- it is very low work, and can build to a significant source of income. I wish I’d started investing for dividend income sooner!
I am using dividends with re-investing for now. I had a local rental property which was doing well but I sold it because I moved and did not want to use a property manager for long-distance ownership.
I would like to maybe put some extra cash into something like vending machines or storage space if it was low-maintenance and minimal time investment. The low interest rate environment for the next few years will limit options to do well with only interest/dividends, in my opinion.
Thanks for writing this… I enjoyed it!!! I would love to get into passive income and will be investigating this further!!!
My favorite form of passive income is dividend income. I have been investing in REITs for many years. My best choice has been NLY. It consistently yields 10%. I figure that it is my substitute for buying investment properties.
Dividend investing, which seems to be consistent with others
I’m a big fan of residential real estate. We currently have 2 paid for duplexes we bought in 2019 generating about $2-2,500 per month and are saving up right now for the next purchase. We’d like at least 5 of them by 2024 when I retire from the military which should generate about $10,000 in monthly passive income between the rentals and pension.
I would like to rent out residential real estate. I’d also love to take a crack at some sort of coin operated business.
Being a self employed small business owner retirement is completely up to me. I have been investing in rentals for several years as I am a tangible person. Therefore I feel residential real estate is best for how I am wired as it is passive income that you can physically see and touch.
Thank you ESI Money for all that you do to help people think forward.
Blessings
Rental and dividend income are the ways I generate passive income.
Like Best: Portfolio Income – simple process, simple understandable results
Which One Pursuing: Rental Income – specifically storage space
After about 30 years of investment in the stock market we are close to retirement. Dividends from these investments will be our core passive income. Most of these investments are within IRAs.
Looking actively to invest cash for another passive or semi passive stream whether real estate or something else even if it requires substantial up front time.
Thanks for your giveaway offer. Dividend investing as others have mentioned.
Although I find myself continually attracted to the idea of rental properties (and actually have two via inheritance), when I sanity-check myself I eventually return to the decision that passive income through portfolio investments are the best approach for me. It keeps things simple, requires minimal interaction/involvement, and produces excellent returns on investment. That said, I am concerned about diversification so will likely continue to consider real estate and other options, but I like the simplicity of portfolio management vs. most other options.
Without a doubt real estate. Wow certainly not passive because I am still actively managing my portfolio, I think it’s well worth Being able to have renters pay off my mortgages. I don’t think anyone is making money buying dividend stocks on margin, so that’s why I argue real estate is superior.
I would enjoy winning a copy of Rachel’s book. The passive income stream I would like to develop is a dividend stock portfolio. I have also been considering REITs but haven’t yet jumped on board.
Dividend and REIT investing
Investing in dividend paying stocks. I prefer a mix of large cap aristocrats, REITs and BDCs.
Dividend income and using a DRIP mentality has provided exponential results over 30+ years of investing. It seems to start out so slowly, and then boom! The curve really gets vertical
The risk to my health due to COVID 19 has me thinking about fully retiring (semi retired now) and trying my hand at something completely different. Since I have the time and am eager to learn, I feel like real estate could be a good fit!
The risk to my health due to COVID 19 has me thinking about fully retiring (semi retired now) and trying my hand at something completely different. Since I have the time and am eager to learn, I feel like real estate could be a good fit!
Thanks for the giveaway and articles on passive income! We’re pursuing rental properties. We don’t have any yet, but have developed connections in our target market, and have a goal to own our first property by Summer 2021.
I’ve been dabbling with a few things to see what sticks. I have two SFR properties. There was a heavy investment up front in time + 25% down. But once they were ready, I turned them over to a very good property manager (I pay her more than average). But it really is passive now as she has it very much under control. I’ve been disappointed with the cash flow, though. They make money but I’ve done better in the stock market.
I’ve also done some REIT investing. Some have done very well. But I also went into the time-of-the-virus with some retail exposure. That wasn’t great. But also added a bit more near the bottom so slowly coming out ahead there, too.
Finally, plain old stock picking. I’ve done surprising well here. I’ve done well not by being smart enough, but rather by successfully curating a lot of information and opinions from others and then forming my own opinion. I really enjoy this activity. But with as much time as I spend on it, this is the least passive.
I’m currently pursuing dividend investing. Given the markets recent dip due to pandemic the effective % dividend rate on some stocks has increased significantly.
Bryan
I have been looking at getting in the residential rental market for a while.
What a generous offer. Thanks Rachel! ESI spoke highly of this title so I know it is one I would love to add to my library.
My “mailbox money” passive income strategy is trying to build a real estate empire that can provide enough cash flow so I can feel comfortable leaving my main job as a physician (after practicing radiology for over 16 years and seeing reimbursements go down and more and more regulations in place the practice of medicine has lost its appeal).
I truly want it to be hands off so I prefer investing in syndications (multifamily apartments) and REITS to get real estate exposure.
A pipe dream of mine when I retire is to write a couple of books (fiction and non fiction) and would love to establish passive income from book sales and add it to my passive income machine.
Lastly, in med school I fancied myself as a songwriter. I have written a handful of songs (even performed them in groups of up to 300) but never explored trying to monetize them. Would like to write more as well as try and have the ones I currently have create some sort of royalty option.
Thanks again!
I’m pursuing dividend income but am also interested in looking into creating a course and ebook!
My strategy has been to make my money work for me; to make money in my sleep. Therefore, the focus was in building a diversified portfolio consisting of growth and dividend paying equities. I have never chased the “quick buck”, but consistently lived below my means and invested with a focus on long-term growth. Based on the book and numerous “millionaire” interviews, beyond a small REIT investment, real estate(property/rentals) is the one area in which I have yet to exploit. This is where I will be focusing my attention.
Royalties (book) have been the best for us! My husband is a children’s book author/illustrator and when his books earn through an advance, we receive royalties. For one of his books, the royalties have been coming twice a year for years. Other books are just getting going, so the checks are larger. Some books don’t earn through at all (but you keep the advance). Thanks for the great blog content, ESI!
Investing in the stock market in tax advantaged retirement accounts is the work horse of my investment strategy. However, my favorite passive income stream is from my roof top solar panels. I get paid a small amount every month without lifting a finger. It’s been about a year and a half and I still smile every time I see the credit on my utility bill.
Our strategy for passive income has been stock and bond portfolio and dividends from these.
The passive income ideas I like are dividend stocks, REITs and affiliate marketing!
We don’t like to ‘have all our eggs in one basket’ and are well diversified passively with rental income properties, dividend ETF’s and no debt. Allows us to SWAN (sleep well at night) and still working because we enjoy it =)
Honestly, I like all the ideas for passive income. I think it’s important to develop multiple streams of income in order to protect yourself from corrections as they won’t all be profitable in every situation. If I had to choose one, it would be rental income as I think this is the easiest way to start with little to no money and develop an income stream by buying smart and holding. With 1031 exchanges, you can move up to bigger units as your business grows and invest in the other 4 income streams. After all, the goal is to develop wealth and not riches, right? True wealth will not go away even after you’re gone.
I like real estate for my passive income. Thanks for the giveaway!
Loved the posts – excited to read the book! I’m really interested in real estate property rentals and this may have pushed me to finally make the dive in and do it!
I’m interested in expanding beyond dividend stocks into REITs.
Most of my passive income comes from crowdfunding real estate investments, a stock portfolio of about 80% stock and 20% bonds, and 1 rental property.
I always love reading new books on finance. Thanks for the give away offer.
Dividend investing is my favorite & provides the largest proportion of our passive income. (85%)
Right now, I focus on portfolio income. Eventually I would like to add significantly via REITs or the like–real estate managed by others–although I’m going to research REITs a bit more first so that I can tailor my choices. Thanks to you and to the author for the opportunity here, as I’m sure this is a good read!
The recent pullback in the market has prompted me to add new stocks and increase my current dividend stock holdings.
Thanks ESI for all the great posts on this subject.
Thanks for the giveaway! I retired in November 2019 and basically plan to live off of investment earnings and dividends. So I am definitely partial to that as my favorite retirement income method! Although we blog, we have chosen to not monetize it right now. However, every once in awhile I think about changing my focus and exploring that option as well.
The main focus will be dividends.
I would like to develop a course. I already do this for my job.
I think dividend paying stocks are the best passive income idea. They offer growth while you are in the accumulating phase and then you can live off the dividends. They also offer great liquidity and are truly passive not to mention diversification. It’s hard to sell a bedroom from a rental if you need cash. ATT cut their dividend? sell and rotate! GE is cutting its dividend and at a 40 year low? sell and put it somewhere else! I am not a fan of real estate. There is always some work involved and usually more than expected.
I recently purchased my first rental property. Prior to that I loaded up on dividend stocks during the March-April drop in the stock market similar to your recent posts on the topic.
Long term, I’d like to try rental income. I think that has potential for me and my husband. We’re on property #2 right now, but will see how things go.
Ironically, royalties have been a good (not great) category for me. I created some content about 10 years ago for a professional field that still nets us a check every quarter. Over the years, I have steadily done more and now that things have built up, it produces a nice bonus check that we treat as that – a bonus that is an additional contribution to getting us closer to retirement.
I am expecting or at least ready to retire any time. So working optionally now. And the passive income I will have will include dividends and interest. A little later I will add monthly income from a deferred annuity, a monthly pension, social security. Hopefully not sell assets. And lastly as a 2nd career will be trading. I am taking a course on trading. Of course my trading account will only be 2500 as the class instructs. Now it is just paper trading. As trading account builds money is moved into an income account and long term holdings account.
Wow! Nothing like a freebie to prompt a whole list of responses!
We’ve recently become more focused on dividend income to provide a more regular and more consistent form of return in retirement.
I like real estate for passive income but too cautious to jump in. With interest rates nonexistent looking for other ideas.
I would love to get into real estate for passive income.
I prefer dividend investing. Per one of your millionaire interviews and Mr. Free at 33, I’m investing in Dividend Aristocrat stocks with a 4%+ yield.
Although not the most practical of all of the ideas, I actually really liked the idea of laundromats and vending machines. Not sure I have the tolerance for the issues that go with both, but it sounds very interesting to me!
We enjoy and use dividend and real estate investing. Have been doing that for the past 10 years.
I’ll always like investing as the best ‘passive’ income since it requires minimal effort- I have enjoyed doing so over the past few years and recently got into dividend investing thanks to ESI’s posts. I’d like to pursue blog / course development since I do some of that at work and I’m getting better at it. However my side hustle (which is definitely not passive) takes up too much of my time to really get going on such an endeavor.
I’ve been dividend investing for some time now, and my husband and I bought a property we rent out on AirBnb several years back. The thing I’m now inspired to try is writing. I’ve had a number of ideas I’ve been rolling around for eons, since I was in high school. I will have to try that next!
Awesome, thank you for the opportunity to win a copy of this book. I am interested in adding more dividend stocks and rental properties to generate more passive income in order to retire earlier. Thanks again.
Passive income – roboadvisor portfolio. Very easy!
I like to mix things up with dividend stocks, REITs, and rentals. Writing a book or a screenplay seems like work, but something that could fill up those retirement days.
I really like the idea of real estate investing, particularly multi homes. I am currently saving up for a down payment on property number 1.
I have been investing in REITs for some time and have dividend producing stocks in our 401k. We were thinking of entering the rental area as another hedge in our investing portfolio as our area has a large, relatively affordable rental market.
Dividend investing. I think it is the closest to really passive with great long term benefits. Just starting to learn about it, but so far, I like everything I am reading.
Dividend investment holdings is clearly my choice. I have been using this strategy from a very young age. It was passed on by the smartest man I know- my father!!
This allowed him to retire comfortably at an early age and I have followed in his footsteps!
I think dividend income is the easiest path, but I have considered looking into rental real estate, especially if I can find something local to be able to keep an eye on. I do invest in a REIT mutual fund as part of my 401K. Always enjoy the ESI blog, and appreciate the generousity of Rachel to provide the giveaway.
My passive plan is dividends mutual funds. These are simple and very low maintenance.
Previously I always thought rental properties for residential was the best passive income but with covid 19 this year and how all the rules turn in favor of the tenants; I’m doubting that now. For instance, in my county, they are about to allow rent that’s overdue 12 months to pay it and also not allow evictions at all. For now, I’m leaning back towards dividend as my favorite. Thank you for providing the giveaway!
Have been a landlord since the age of 21 when I acquired a
Property out of trust. Truly
Lots of heart ache and work but along with retirement savings will
live a great retirement and leave our 4 children each with a million dollars.
Stocks can not give the same return as real estate.
We were aggressive in paying them off and never leveraged because we were adverse to debt.
It is a toss up between real estate and stock dividends. I am fascinated by both and pursue them both. I also love the idea of a blog because of its portability – I just haven’t found the perfect subject yet.
My dad tried his hand at vending machines–oy what a mess! He lost a lot of money on that venture, so I think I will skip that. I am working on building up our Portfolios right now and that will be the basis of our passive income when we retire.
RE + Dividends
Thanks for the contest! I create self-paced Spanish courses for local colleges. They pay a one-time fee only, so I’ve been thinking about doing something where the income would be ongoing. When I looked
into it, though, I got discouraged because there was already so much out there. I don’t know if I will pursue this or not, but it continues to interest me!
I love the idea of dividend investing. I have a couple ETFs that focus on that but as retirement nears we need to look into doing more with the idea.
I love REITs and the high dividends. The recent market activity has crushed the prices of them but I see it as an opportunity to buy more while the prices are low. Ultimately, retirement income for me will consist primarily of dividend stocks.
Our portfolio income has been refocused to dividend and bond income leading to retirement, with our rental income comng in as the second favorite. I need the stream of pretty regular income since I am too young for any pension.
Thanks for your inspiration ESI. You make such a difference in helping us all learn and discuss the ways of FIRE.
Books aside, you have made the biggest difference in my education in finance and planning for my retirement. Thank you!
I’m interested in real estate rental.
I currently own some rentals and thinking of adding more shortly. An online course is on my list.
Right now I’ve been investing in REITs via Fundrise, but am hoping to purchase some rental property in the future. Just saving up for that while doing research on where to buy.
I’ve considered real estate for quite some time as a great source of passive income. I think in the next few years we (wife and myself) will take the plunge as we are looking to purchase a large acreage of land and subdivide a few plots so we can move family closer. On those smaller plots we plan to build a few small maid quarter type houses for both of our respective parents to move in to be closer to their grandchildren. We are working through the financial breakdown currently to make this happen but we plan to charge them a flat rate rent to live in the quarters as a source of passive income over the next 20 plus years. Both sets of parents have rather big houses now with too much space and allowing them to downsize and pocket their earned equity for retirement will help them be able to survive and retire sooner. Our primary residence would be built on an adjacent piece of land and allow us to share many of the extra amenities that we currently have to purchase separately so it will us to create a type “shared” community among our family while knowing they are safe and we can keep a close on them as their health deteriorates.
REITs to diversify from stocks. Plus, REITs large payouts to either buy stocks or more REITS.
Been getting passive income from book royalties for 12 years but is a huge amount of work up front. I will continue authoring and publishing new books (including some that have longer selling lifetimes like software and computing histories instead of recent only technologies). (I’d like to do a book on the ESI concepts for my little and young adult kids too.) Also working on two hobby sites (massive campsites attributes database and basketball drills database) for my interests for advertising. And a side business for my family for automated, minimally managed network protocols auditing. I am also slowly building up my REITs and dividend portfolios (but also think now I should focus that money on higher growth S&P 500 index funds, which I am also doing, as long as I am working). I also hope to help some sons with residential and storage rentals. Thanks for the info and motivations!
Dividend stocks investing
The best passive income for us is investing in index funds. Been easy to continue to add to our wealth. Created an investment philosophy and follow that any time I want to keep me in line and remind myself that we have a plan.
Great posts here by the community. I am working on some online courses and I want to expand into dividend investing, affiliate marketing, and some multifamilies.
I plan to find out more about dividend investing, it seems like a good potential income source for retirement.
Favorite passive stream is portfolio investing. Keep it simple, set it and forget it.
Dividend investing is my go to
Dividend investing will be my go to. I’d like to try real estates but I’ve seen so many friends struggle keeping good long-term tenents.
I’ve always been interested in rental income and the ESI updates on his rental properties.
Thanks for the posts and for the book giveaway. My favorite passive income mentioned is investment dividends, and I am working towards building a portfolio. I have a long time to go though before I could live off the returns!
I believe that real estate would be the best option. If you look at how the vast majority of those that have gotten wealthy it is from real estate. I have not dabbled into it yet, although I have been reading on it for several years. Trying to learn the fine points and details. Knowledge is power (and getting the wife on board LOL).
The idea I’m most interested in right now is REITs. I’m saving for my first rental property but am also considering using that money for a REIT investment instead.
Working my way toward being able to invest in some real estate for passive property income 🙂
The idea I like best and would like to pursue is rental property. I am pursuing REITs and investment income. I also get a pension, the ultimate passive income; it only took me working 34 years for one employer to achieve.
Dividends and rental income
Thanks for the great giveaway idea! We were recently unexpectedly ‘retired’ due to virus-related layoffs but had already achieved financial independence and were looking for the right time for early retirement anyways (mid-40’s). For a few years beforehand, we had been building up our passive income portfolio. Currently, we own three long-term residential rental properties, although at times these feel like the most active form of passive income. But the tax-advantaged cash flow is great. In addition, we have a hefty dividend portfolio, which we took the opportunity to augment during the March crash. We are most interested in exploring royalties as another stream of passive income, even if that means some upfront work. Even with two young children, we have time to consider other options now!
I’ve tried to achieve different sources of passive income and over time, dividend growth investing has won out as the most effective investing strategy for me.
-Mike
I really enjoyed your summary of this book. It sounds like a great read based on your synopsis. Like many others, I’m also most committed to portfolio income. That said, I haven’t really thought about it as royalty, but I am creating webinars and courses to diversify my strategy.
I love Rachel, she’s helped me start caring about and paying attention to my financial health with her first book, Money Honey.
I am most excited to get involved with real estate investments and am working towards saving up for a down payment on a rental property.
Working with dividend income, REITS and some small Royalty income.
This giveaway has ended.
The winners are as follows:
Meghan L
Amy
Mike
There may be more than one of these names who commented, so you’ll know you’re the right one if you get an email from me. Be looking for it.
Congrats to the winners and stay tuned for more giveaways!