Sweat Equity Or Put Your Money Where It Can Earn You The Most
Generally speaking there are two types of passive income generation. It is very simple.
You put in some sweat equity into your own venture.
You can put your hard earned cash into an investment where other people make it grow.
Today we are talking about the later. Before we begin, THIS IS NOT INVESTMENT ADVICE. Do Your Own Research Before Investing.
Maximise Tax Free Income And Tax Credits
Billions of people around the globe are not taking advantage of their own tax laws. This means they are not earning the kind of money which goes straight into their pocket with no tax ever due.
Why work hard to take home £1,000 a month extra net take home. For some, that means earning over £2,000 a month to even come close to seeing it.
Maximising investment in non taxed investment vehicles is a better way to earn that cash, without it taking up all your time doing so.
Investment Income Opportunities aren’t everywhere, but they are available to anyone. In the UK, you can start small or not so small. Here are some ideas.
- Put spare cash into an ISA – you’ll need to decide which is best for you.
- If you can afford to never count on anything other than the tax credits, EIS and SEIS schemes may worth putting money into.
Maximise Your Capital Gains Allowances
Next Look Into maximising against your Capital Gains Allowance. Currently the allowance is £12,000.
This means you can earn on investments rising in price to that level and pay no tax at all.
There are many opportunities, shares and bonds, crypto, and many others.
It is worth making your money work for you efficiently, rather than you having to do all the hard work.
The Bottom Line
Make the most of Passive Income opportunities. Whether it making your cash work for you or putting in the sweat equity, there are many ways to work it!
That money give you the power and opportunity to do a world of good.
- Always Do Your OWN Research. What works for me may not work for you.
- Nothing here is Investment Advice. We are not qualified to do that. Always check the credentials and whether the opportunities will work in your country or for the citizenship you hold. Never risk money you cannot afford to lose.
- What works today may not work in one year. Please stay on the front of the wave.
Passive Income Ideas & News can help you get started
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(c) 2020 Alison Murray. Aileana Moore Publishing Ltd. All Rights Reserved.