As we approach retirement, many of us begin to think about ways to supplement our income in order to maintain our desired lifestyle. While some may choose to continue working part-time or take on freelance projects, others may look to passive income opportunities. Passive income refers to any source of income that requires little to no effort to maintain, making it a great option for retirees who want to enjoy their golden years without the stress and demands of traditional work.
One popular investment opportunity for retirees looking for passive income is rental properties. By purchasing a rental property, retirees can generate a steady stream of income through rental payments from tenants. This option does require some initial investment and management, but with the help of a property manager, retirees can enjoy a relatively hands-off passive income source.
Another potential investment opportunity is dividend-paying stocks. These are stocks that pay out a portion of their earnings to shareholders on a regular basis. Retirees can choose to reinvest these dividends for long-term growth, or use them as a source of passive income by cashing them out. While there is some risk involved in the stock market, choosing stable and reliable companies can provide retirees with a steady stream of passive income.
Real estate investment trusts (REITs) are another option for retirees looking for passive income. REITs are essentially companies that own and