Make money while sleeping – Learn how to earn passive income in Pakistan 2022
Almost everyone these days is looking to explore possibilities of earning passive income. While active income is earned by hard work and effort, the amount people earn sleeping or enjoying vacations is passive income. If people want to invest in passive income sources, they need to focus on multiple money streams, which can be later scaled up.
Here’s everything you need to know about Passive Income:
Importance of Passive Income
Most people depend on their salaries for income. However, if they get fired or decide to quit their job, the money stops floating in their bank account. Surviving on reserves or savings is only possible for a few months. Therefore, passive income is essential, so people have a continued source of income even when they’re not working 9 to 5.
How to make passive income in Pakistan in 2022?
Here are several ways people can earn passive income in Pakistan:
1. Stock Exchange or Mutual Funds
Save at least 35% of your active income for a year. At the end of the year, invest 50% of the savings in monthly or daily dividend funds and the rest of the 50% in stock market funds by splitting between medium risk and high risk, depending upon the market situation.
The advantage of daily/monthly dividend funds is that your capital is always safe, making money on top of it. In contrast, your money could be increased by 12% to 30% (again, this profit is subjected to market risk and situation). You can also benefit from the online website ‘iSave‘, operated by MCB Arif Habib. The website gives you ease to buy, sell or research different funds and their history.
Another way that we all are aware of is to make money from freelancing which is a good addon over the active income. However, this money should directly go to your savings. You can acquire a savings bond or something similar, which gives you good returns with the lowest market risk. For example, a Defence saving certificate is a good option if you can lock your payment for five years. They promise good returns depending upon the current Kibor rate.
3. Instagram Influencer
You can also make money by making videos, running a blog, or becoming an Instagram influencer. Most successful influencers get free food, free clothes, and money with sponsorship activities for life. However, becoming an online influencer on any platform requires a great deal of commitment and consistency.
Another way to make some passive income in Pakistan is to start a YouTube channel and make videos as per your skills. However, this too is time-consuming and requires a great deal of commitment.
5. Investing in Ventures
Save up a certain amount and then invest that amount in any of the businesses owned by your close friends or family, depending on their success ratio. These investments are not too huge, and you can invest in multiple ventures to increase your sources of income.
6. Real Estate Income
This type of income has a medium-scale risk, but it can deliver a good return. We all know one thing for sure, and that is “Property Never Devaluates.” So if you are a risk-taker, you can team up with your friends or family to collectively invest in real estate or rental properties.
The days of depending on active income only have gone by. People should now focus on relying on a passive income stream, never to have to worry about money again. Putting all your eggs in different baskets can also help you promise your family a comfortable future. Following this routine can also help people look forward to early retirement.
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