Women are underrepresented in the investment field. According to a study by Fidelity Investments released in 2018, only 29 percent of women saw themselves as investors while 24 percent say they are comfortable with their knowledge of investing.
There is a silver lining to these dismal numbers. The same research showed that 72 percent of women want to take steps to make their money grow while 65 percent are willing to learn about investing.
If you are one of those who would like to get things going where investing is concerned, pursuing passive income is one of the best ways to start. Ladies, it’s time to see your money grow without putting effort into it:
What passive income is
Passive income, as the name suggests, is income made without being actively involved in an enterprise or business. It usually entails a third party that handles everything. All you have to do is to put in the resources and you are pretty much set.
A word of caution – just because it is called passive does not mean it would be as easy as plucking money from trees. You need to put in the work, especially at the initial stages. You have to make wise business choices through research. Think about it as a machine. You need to build your portfolio first before it can operate on its own.
As passive income gains more traction year after year, there’s an increase of different approaches you can explore to generate yours. Here are some that you can look into:
This is the usual entry for people who are interested in passive income. Here, you can invest in a good piece of property and put it up for lease. To make it passive, you should not be the one to play the landlord. Hire a property management firm to take care of everything for you. This firm will handle communicating with clients, advertising, collecting rent money, even maintenance.
There are several sites that take the crowdfunding route to lend money. This is called peer to peer lending. There are reputable sites that handle this kind of transaction. You do not have to put up the entire amount. You can put in as low as $20. Your return will depend on the amount of money you put in and the category of creditors you are willing to lend to.
It is so easy to be involved in stocks and bonds without being directly involved. What are we suggesting? Let robots handle your investment accounts for you! Since robots are not swayed by emotion and buy and sell stocks according to patterns in the past, it is a steady place to bank some of your money and let the compounding interest grow. You can choose to invest pennies for a start as we understand that the risk is still there.
There are still so many ways to gain access to the promising possibilities of passive income. All you have to do is to find your niche and take the leap. But for now, why not take some investment steps listed here?
Gender disparity in the investing world, while real, does not have to be the norm. It is high time for women to stop missing out on so many opportunities to build their wealth. By trying out your hand in passive income, you are taking one concrete step towards a better financial future — on your own terms.Tags: income investment micro investing money passive income personal finance property real estate