Investing in assets that can give passive income
Passive income is one of the most important concepts in financial management. The ultimate goal of financial freedom is to have multiple sources of passive income. People who say that they are retired are usually people who don't have any need to go for a job and earn money. All they have to do is sit and enjoy their retirement life and money would keep flowing into their accounts every month.
In India, the retirement concept is very different. When people get old, they stop working due to inability and not everyone has pension plans through which they get a pension. Most people are taken care of by their children. Either the girl child or son would take care of their old parents by providing the financial support they need. There are also some upper-middle-class families who would have earned enough when they worked and now completely rely on their Pension income or their savings.
Investing in assets
Investment should always happen in things that give us enough returns. Otherwise, the investment is not good or it is more like an expense if we are not going to get anything in return. There are movable assets and immovable assets. Investing in the right assets would give the right opportunity to earn. Some assets keep our capital 100% safe and people also prefer that type of investment some investments give a small percentage of our capital but that is also a safe investment.
Usually, risk-based investments can happen at a young age and as we grow older, it is good to focus on investments that are stable and that give enough passive income in return. When it comes to passive income, it is also important to choose multiple sources of passive income streams. We shouldn't always rely on one passive income source alone. Having different types of investments can give multiple passive income sources.
Gaming assets are also passive income sources
There are some games available that can provide a decent passive income opportunity. city, WOO, Muterra, Splinterlands, etc are some of the games on Hive that provide passive income for the assets we hold in the game. The rewards are provided in the form of Staking rewards or in the form of Airdrop for people holding the game assets. Last year after Splinterlands gave so much of Airdrop to the players, it was able to boost their sales and it was also a great source of passive income for the asset holders.
The passive income from gaming assets may not be a long-term solution but I would say that it is definitely a good source of income. But people should know when to enter and when to exit. Otherwise, it can be hard to make any profit out of this. If they enter during the wrong time and exit during the wrong time, they would end up with a huge loss and that would demotivate them from investing further or staying invested. So knowing when to enter and when to exit is very important if we are looking for good passive income-based investments.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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I'm investing in many forms of passive income.
Obviously I don't consider Hive only passive but in reality I don't consider it only an investment.
On Splinterlands instead for now I have totally passive positions by renting the cards automatically.
To diversify, in addition to having invested in other projects, I also preferred to invest in classic ETFs that are always solid and profitable💪
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There is also the Nexo Digital project with the NEXO second layer token that pays HBD weekly as dividends to holders.
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It's a new project with a long way to go but I invite everyone to get to know our project!