Three Top Ways To Make Money Without Working

Updated: May 4


How often do you hear yourself saying you don’t have enough of it? How regularly do you complain about spending too much of it working? Imagine a scenario whereby you don’t have to trade your time for money or, in other words, whereby you don’t have to work. It’s the stuff of dreams (or bad scams), right?


It’s called a passive income, and it can be a legitimate building block on your path to wealth creation. We are not necessarily talking about something to replace work outright. Instead, consider the concept as additional income streams that, over time, reduce the pressure you feel to work more in order to make more.

What are passive income streams?

Passive income streams vary in terms of their wealth-building potential. Let’s explore some of the more achievable options:

1. Bank account savings

Is your bank earning you money, even if it’s a bit? Don’t see the bank as a service that should cost you. They have the privilege of working with your money, not the other way around, so you should be earning interest from your savings accounts. If you’re not, chances are there’s a better bank out there for you (and we know how and where to find it!). That said, this is unlikely to really rake in the cash given how low-interest rates are at present. Still, it’s a worthwhile exercise as saving money is making money in a way!

2. Rewards credit card

Provided you pay off your debts in full and before deadlines, then a credit card can be an innovative way to make money or indeed save it. Cashback incentives, frequent flyer deals, and third party offers - these all have the potential to serve as contributors or conduits to your passive income.

3. Residual income

This refers to money-making initiatives that continue to deliver outcomes after work has ceased. Examples include rent, royalties, stocks, bonds, etc. Residual income requires an initial investment.

How much money do you need to start a passive investment?

Property investing

If you’re looking to invest in property, you will obviously need sufficient capital to cover a deposit and all relating fees and taxes. You also need to consider the ongoing repayments, as this is likely to be a longer-term prospect that will require more money from you for many years before the tables turn! Indeed, you need to be confident that at some point, the income will outweigh the cost. Alternatively, suppose you do not need to borrow much and can make a purchase without acquiring significant debt or incurring hefty ongoing costs. In that case, you have a neatly packaged passive income for the taking!

Share portfolio investing

You can generate a passive income from a share portfolio paying dividends, but you need to have a pretty big share portfolio. For example, if the average dividend yield is 4%, a $1m portfolio will pay $40,000 in dividends (passive income) unless you physically sell down shares to access money.

Your ActOn Wealth Wingman is here to help you sort through the pros and cons of these and other potential passive investment options, so don’t feel like you have to figure it out alone!

Contact us about generating a passive income

The ActOn Wealth team of financial experts is here to help you explore passive income options that are sustainable, achievable and ambitious. There are plenty of ways we can help get you on the wealth-building path that is right for you! So, let’s catch up for a no-cost, no-obligation to discuss your situation and how we might be able to get you to achieve your goals sooner rather than later (and without much sacrifice at all).

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