Real Estate Investment

5 Best Ways To Earn Passive Income In Singapore (2020 Update)

You might currently be holding a full time job and drawing a stable monthly salary. But what if you are able to earn passive income without actually having to forsake your full time job? Passive income is income earned without necessarily having to put in the effort of normal working hours. It is usually additional to any income earned on a full time job. In Singapore, those who seek to earn passive income usually do it for some of the following reasons: It gives a good accumulation of wealth which can be used during retirement: Many Singaporeans struggle with financial difficulty during their retirement years. The money received on pension is rarely enough, therefore, earning some passive income over the productive years becomes very useful during sunset years. Can go a very long way in helping to pay off debts: This is can a great relief, especially where there are default fees being charged. The passive income will help to reduce the pressure that comes with debt repayments and also help to improve the credit rating of the borrower. Generating a passive income is a way of growing financially: It is actually one route to financial stability in the long run. Many Singaporeans would love to reach a state where they have enough financial investments to actually retire early. Having a passive income can provide this opportunity. There are some popular ways of earning a passive income in Singapore. Five of these ways are given below: 1. Investment In Real Estate Investing in real estate is one way of earning some extra income. It should be noted that this particular source of income will require plenty of patience. You will first need to source for the initial capital to purchase the property. This could easily be a very costly affair. However, the property should be put up for rent immediately so as to generate sufficient funds to cover the repayments required for the initial capital as well as generate a profit. There will be other costs incurred such as agent fees and maintenance costs of the property. The rental income should

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