Passive income
I remember reading somewhere, “There are only so many hours in a day that one can sell to make money. It is important to have passive sources of income, i.e. money received for doing nothing.”
Investments generating regular interest (CDs & bonds) and dividend (stocks, ETFs, mutual funds) payments is an obvious choice. To squeeze out some more money on top of the dividends from a stock or ETF, writing covered calls is a great strategy. If there are 100+ shares of a stable company in your portfolio, you should consider writing a covered call.
Disclaimer: I am not a financial professional. Don’t do anything solely based on what you read here. I am not responsible for your losses but, you may send me a cut from your profits.
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