Annuity revenue is something that everyone wants, a regular supply of cash coming in without having to do too much work to earn it. It goes without saying that nobody earns for nothing and that to get regular cheques rolling in there must have been some sort of outlay of capital or effort along the way, but what are the angles and opportunities that will allow you to earn on top of your normal salary without leaving you slaving away the entire day and night. Here are a few things that you might want to consider.
Invest in property
Property is a great way to earn and there are many strategies that can be used. You can develop land. You can rent apartments. You can buy cheap places, fix them and sell high. The options are many and you can tailor a strategy that suits your budget. The big thing with property is that the capital outlay is normally large. But if you take a long-term view and work with the right partners, over a twenty-year period you might have accumulated twenty of thirty properties each of which brings in a steady monthly income. If this is to be your strategy partner with a builder or an architect who has a good understanding of the industry. You are the capital and they are the labour. Speak to friends to find a partner or search online or in trade publications for townhouse builders Sydney, or something similar.
Uber
If you have a car that spends the bulk of the day in a parking garage, waiting for you to finish work, finds a driver and get it signed up with Uber or something similar. There are plenty of potential drivers out there without wheels. Find them and conjure a plan that will earn for both of you.
Training
Assess your skills and create a course that can be sold on one of the many online study platforms. People are always looking to upskill themselves and if you produce a once-off course, complete with tutorial videos and course material, then that is something that can earn for you for years to come. It might not be fortunes but it is a once off effort of creating the material and a lifetime of students paying to access it.
The side hustles
You already have a day job, but there is no reason why you shouldn’t also have something on the side. Find something that plays to your interests and passions, because if you don’t you will find it hard to stay motivated. Ideally do it with a partner or two who can share the load and the fun. It isn’t necessarily passive income as hustling tends to involve plenty of hard work, but what it is, is a second income stream and that is what most people are looking for.
Invest
Take your cash and invest it in shares or businesses that will help earn you more in the long-term. It is very easy to take a bit of surplus cash and squander it on holidays or big nights out. But if you made an effort to put that cash into investments, it won’t be long before you are reaping the rewards.