Passive income: How to grow your wealth every day

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Are you happy with your income?

The traditional method of earning money – working nine to five for at least 40 years – is often not enough to keep us living a comfortable or fulfilling life.

 

As the cost of living rises each year, people are increasingly working long hours and finding that they have less time for family, hobbies or friends. Then when the time comes to retire, their pension income isn’t enough to sustain a good quality of living.

 

Grow your wealth in different ways

The importance of financial planning and creating new sources of income is becoming clearer to more and more Australians. By supplementing your wages for your employment, you can create financial security and build your wealth so you can be confident in your future finances.

 

It helps by first defining your financial goals. Are you looking for long term security for your friends and family? Would you like to retire in comfort and create a legacy? Or would you simply like some extra cash to travel the world or be able to afford some extra luxuries? Developing a stream of passive income can help you achieve these goals sooner than you think.

 

What is passive income?

Passive income is a broad term used for any money that you earn which doesn’t involve much or any regular activity day-to-day. This can be anything from investing in shares to owning a rental property.

 

In some cases, passive income can overtake the income you receive from employment, meaning you could reduce your work hours or retire early.

 

Investing in property as passive income

While it might take some time and effort to set up, property investment is an excellent way to secure passive income.

 

By purchasing a property to rent out to tenants, you can directly benefit from the growth in the market. This is maximised if you make sure you do a full property market analysis before you search for properties, and purchase in a high growth area.

 

If your investment property is positively geared, you will also earn money each month from rental income. At Reventon, we offer a full property management service meaning that the stress of finding tenants and managing their requests is taken out of your hands. All you’ll need to do is pick up the phone every now and then for updates.

 

Discover how property investment could work for you

We have supported thousands of clients to build their income and secure their future finances. By meeting with one of the team, you can discuss your financial goals and create a personalised property investment plan with projections of how much you can make each year.

 

Consultations are free and take roughly an hour. Find out more about what’s involved, or get in touch to request a meeting.


 

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