Are you a veteran or a currently serving military member looking to earn some money on the side?
It can be difficult to build a comfortable future as a member of the military. Although the base salary for an active service member is decent, you need to stay in the military system for decades to earn yourself a decent retirement. For that reason, it’s always a good idea to have passive income streams coming in.
In this post, we’re going to discuss 4 passive income opportunities for veterans and active service members alike. If you want to look after your family, as well as your future, then keep reading and we’ll tell you how.
1. Real Estate Investing
Real estate investing is easily one of the best ways to invest your money. Using a TSP, you can put your money into REITs, buying rental properties, or even renting out your home while you’re on duty can put lots of money in your pocket.
Which direction you decide to go will depend on how passive you want the income to be. A REIT, for instance, is a truly passive income opportunity because you put your money in and get paid in dividends without lifting a finger.
Rental properties are more high maintenance, but you can always hire a property manager to take care of the property maintenance and tenants for you.
2. P2P Lending
Peer-to-peer lending is one of the more popular passive income ideas as well. By putting up money to individuals and businesses, you can collect around 10% interest without really having to do anything.
The P2P platforms we have now are extremely safe, so you know your money is always protected. It’s worth noting that there aren’t as many barriers to getting into P2P investing. Some platforms allow you to invest as little as $25.
3. Dividend Stocks
Investing in dividend stocks is slightly riskier, but if you make the right investments, they can create some of the best passive income streams. When you purchase dividend stocks, as the companies you invest in make profits, some of the money is redirected towards the investors.
You can either pocket the money as it comes or reinvest it to get more shares and make more money next time. The yields themselves will vary depending on how many shares you hold and how well they’re doing.
The real up-and-coming passive income opportunities are in crypto. Bitcoin isn’t the only cryptocurrency on the scene anymore. With Ethereum becoming the main rival to Bitcoin, it creates more investment opportunities.
In fact, there are dozens of cryptocurrencies on the up and up. Solana, Ripple, and Chainlink are three examples of lower-level crypto that you can potentially make big earnings on.
Embracing Passive Income Opportunities
As a service member, it’s important to embrace these passive income opportunities. Supplementing your military salary and pension with investing can lead to a brighter future for you and your family.
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