(Forget about job struggles, steer clear of mutual funds due to market risks, and avoid the hype of Insta, eCommerce, and dropshipping.) What are some specific, legitimate sources of passive income in India?
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There are several passive and legal income sources in India that you could consider:
Real Estate Rentals: Investing in rental properties can provide a steady stream of income. Look for properties in high-demand areas, and consider short-term rentals through platforms like Airbnb for potentially higher returns.
Fixed Deposits: While not the highest yielding option, fixed deposits in banks can provide guaranteed returns with minimal risk. The interest is typically paid periodically.
Public Provident Fund (PPF): Investing in a PPF account earns you decent interest, compounded annually, and the returns are tax-free.
Bonds: Government or corporate bonds can provide fixed interest payments over time, making them a relatively stable investment option.
Dividend Stocks: Invest in shares that pay dividends. This strategy requires initial capital but can yield consistent payouts over time.
Peer-to-Peer Lending: Platforms like Faircent allow you to lend money directly to individuals or small businesses in return for interest on the loan.
REITs (Real Estate Investment Trusts): Investing in REITs allows you to earn income from real estate without directly owning properties. They typically pay out dividends and can be traded like stocks.
Online Courses or E-books: If you have expertise in a particular field, creating an online course or an e-book can generate income over time with minimal ongoing effort.
Affiliate Marketing: If you have a blog or a significant social media presence, you can earn commissions by promoting products or services.
Robo-Advisors: Consider investing through robo-advisory services that automatically manage your investment portfolio, helping you to earn returns without much effort.
Each of these options has its own risks and considerations, so it’s important to do your research and choose the sources that align with your financial goals and risk tolerance.