One of the best sources of passive income is undoubtedly investment. Whether you choose to invest in commodities, startup businesses as an Angel Investor, company stocks, or whatever obscure thing it is that you’ve found that works for you, investing can be extremely lucrative.
However, it doesn’t always seem like passive income. I mean, you have to regularly meet with financial advisers, scour the papers/websites checking on your stock options and doing the math to work out what represents a good investment. Well, not anymore! There are numerous apps and platforms that make investing easier than it has ever been. Here are some of them:
Seedrs is a crowdfunding platform for equity who’s mission statement is to make investing as easy as it can possibly be. It is intended to help startup owners find the funding they need and potential backers find people who they feel confident investing in.
As you will probably know, investing in startups can be very risky, but if you can afford it, it can be a great way of diversifying your portfolio and doing some good in the world, and since you can start for only $10, it’s a pretty good way of getting started, especially since you can do it all easily from your phone.
eToro is the first social trading platform to come on the market. It enables investors in everything from commodities to cryptocurrencies to not only invest with ease but to follow the investments of others, talk to each other and generally establish a social network of sorts. You can learn about social trading here if it sounds appealing to you and it’s a good way of learning the ropes if you’re new to it all. Give it a try if you want to invest, and you’re interested in modelling yourself on other successful investors.
Stash is an excellent app that is definitely for the ethical investors amongst you. Why? Because it makes it easy for you to invest in the kind of industries that you support. So., whether you’re into environmentally friendly companies or you’re a big fan of the arts, you can find investments that will make you feel good about your financial choices and help you to grow your money, so that you can retire early. It really is a win-win situation.
Robinhood is so named because it aims to throw a spanner in the works of more traditional stockbrokers by allowing individuals to make trades free of charge. Well, you do have to pay $6 per month if you want the Gold Service, that allows you to double the amount of trades you can do, but other than that there are no restrictions. Obviously, it isn’t a full-service platform, but it’s free, and if you’re new to the whole thing, it can be a boon, allowing you to learn the ropes for free.
If you use any of this tech to invest your cash, you can be sure that it’ll be a much easier process than you might imagine, which will make your path to passive income even easier.