Life is far too short to wait until your mid sixties to retire. If you’d like to make the most out of your life, it’s possible to use wise investment strategies in order to increase your passive income. So that you’ll be able to retire early and live off the passive income which you’ll receive. To discover a simple guide to making wise investments that will allow you to retire early, simply continue reading.
Purchase dividend paying, blue chip stocks:
Blue chip stocks are stocks which offer monthly dividends. So if you’d like to increase your monthly passive income, it’s a smart idea to purchase a wide variety of blue chip stocks. So that you’ll be able to rely on monthly dividends, from multiple businesses which have shares listed on the stock market. By investing in multiple block stock investments, you’ll also decrease your level of risk. As if the share price of one stock plummets, your overall portfolio won’t be too adversely affected.
Purchase rental properties:
Another way to bring in a steady revenue stream is to purchase rental properties. As you’ll be able to rent them out to create a steady revenue stream. Even the stock market is badly affected, individuals and families still require properties to rent. So you won’t have any trouble continuing to bring in a sizable income each month.
If you can’t afford to purchase a second property out right, you may be able to leverage the purchase of a second property off your first property. You’ll then be able to pay back the loan which you’ve taken out, using part of the rent which you’ll collect from the tenants of your property.
Alternatively, you may want to purchase shares in the ownership of a property. So that you’ll be able to share the risks and rewards of owning property with other online investors. This is a great idea, if you’re new to the world of property investing.
Purchase shares in dividend paying ETF funds:
If you’re concerned about the volatility of the stock market, you may want to invest in dividend paying ETF funds. ETF funds are funds which offer shares in a wide variety of businesses. Which dramatically decreases the level of risk associated with ETF funds. You may want to purchase shares in an ETF fund which features some of the top businesses in the US or to purchase shares in an ETF which focuses on businesses in the technology sector or in international businesses in Asia.
Before selecting 5-10 ETF funds to invest in, make sure to check the dividend rate offered by each ETF fund. As well as the past performance of each ETF fund which is on your watch list. So that you’ll be able to select ETF funds which will give you a new source of income. Just be mindful that some ETF funds pay out dividends twice a year, while other ETF funds pay out dividends four times a year.
Invest in precious metals:
Precious metals continue to rise in price as they are limited in quality and make a great investment. For information on investing in precious metals such as silver and gold it’s well worth talking to an advisor at Lear Capital.
If you follow all of the wise investment strategies which are listed above, you will be able to turn your dream of retiring early into a reality. As there’s no reason to wait until your 60’s to retire.
