There’s a reason why people invest: it’s to prevent their liquid assets from getting trained quicker than the speed of light. Once your trust fund unlocks by the time you’re 18 years of age, or you finally get that hefty divorce settlement you’ve been waiting for, it’s quite easy to spend it on things that may not be the best use of your money. What others don’t realize is, there are plenty of investment options out there to earn a passive income: sub sandwich franchises, property investments, and the good old classic time deposit at your bank. Here are some of the smarter options on where to invest your money if you want to earn a passive income, even as you sleep.
Sub Sandwich Franchises
Why not a McDonald’s franchise or some other pizza place? For starters, sandwich franchises are far more practical, and the competition isn’t too intense. If your budget isn’t huge, you can invest it in a pop-up store like set-up, which requires less overhead costs. The rental space in the mall or establishment may be cheaper compared to having an entire structure built out from scratch. You’d have to look for an available lot and secure permits for starters. You’d also need more people and hire an entire staff crew to get the place running.
Sandwich franchises like Subway became popular for a reason: and that’s because on-the-go people have no time to prepare their own meals from home and would still like to eat relatively healthy food.
That’s where you come in as a side business venture. It’s also very easy to eat (much like fast food, but of course, healthier) and has a wide range of sandwiches you can offer. You can go for the classics or opt for something more creative! Either way, this is a viable option you can consider for your investment.
Real estate property
This one is a bit trickier, as it involves intensive market research and consulting with a trusted real estate property consultant to make the best choice. Real estate conditions are different per state and depending on where you are. Your investment must be timed when it’s best for buyers rather than sellers.
The good thing about real estate is when you invest at the right time, and on the right property such as a house, a condominium unit, or an apartment, the appreciation value really hits it right on the head. You can at the very least double the money you’ve initially put in, plus, there are other options for you as well once the property is turned over: you can explore Airbnb options to earn a passive income from the rental fees, or simply lease it out to a specific target market.
This is an oldy but goody option. If you already have a steady relationship with a specific bank, then that’s the most practical resource you can turn to once you’ve decided to invest in bonds or fixed time deposits. On the downside, if an emergency occurs and you don’t have any other means to pay for it, it would take time to extract your money from the bank, especially if it’s a relatively large sum of money. However, the great thing about fixed time deposits is that you are able to exercise control and develop that out of sight out of mind mentality: if you don’t see it, you don’t spend it.
Talk to your local bank office and see what options you have. There are plenty out there, and you can easily compare the interest rates and what could possibly grow your money the most in the shortest amount of time. It’s never advisable to risk profit loss and invest it in high-earning investment schemes that may doom to fail in the long run. If you already have a financial advisor from your insurance, for instance, you could also talk to them to see what they have to say.
Invest in options that grow your money and always think about the future. Regardless if you’re single or if you have a family, having that safety net and steady amount of cash flow is the smartest way to go.