Passive income is a cash flow booster that so many investors chase after on a regular basis. Many resources out there suggest a variety of paths forward to create an ounce here and an ounce there that will all add up to a sizeable cash flow addition. Yet the way to create significant passive income is to realize that this is a long-term project that will take considerable work in the buildup phase.
Income that is “truly” passive doesn’t exist, yet investors can input their time, capital, and energy into dividend-paying opportunities that will continue to produce income in perpetuity, eventually overtaking the initial input and creating a free cash flow addition that requires no work, thought, or energy to perpetuate into infinity.
With these tips, building this type of lasting income augmentation can be made simple with a strategy for success.
Start with a plan and significant research.
Investors in the New York Stock Exchange (NYSE) or Toronto Stock Exchange (TSX) often rely on their research chops to help them select great investments for their growing portfolio. Investor email alerts from a variety of news sources, and signups at other breaking news outlets give many an edge that will help them synthesize information quickly.
Using your email address to sign up for these third-party analyses is a great way to strengthen your overall investing acumen while pursuing new opportunities for dividend growth. All investors should prioritize this, regardless of their approach to the market itself.
Take a look at dividends.
Finding excellent dividend producers is a key element in the creation of a long-term passive income strategy. Mining companies, mineral resources, and others in the industrial sector, like Alamos Gold, are often a favorite for investors in this arena. This is because Alamos Gold Inc. (NYSE: AGI) and others like it in the mining industry and elsewhere offer a significant growth factor for shareholders while also providing a great dividend that pays passive income on a quarterly basis.
Alamos is an environmentally friendly gold miner that will continue to grow alongside the shifting social environment in which ounces of gold is extracted for human needs. Alamos runs three mines in continuous operation in North America, the Mulatos Mine in Mexico, and the Island Gold and Young-Davidson Mines in Northern Ontario. For investors in the United States and Canada particularly those who are looking to augment their cash flow with a great dividend-paying gold miner, Alamos is a key resource in the continued output of your investments.
Alamos is positioned for excellent growth over the coming years as well, beyond their existing strengths. Cash flow remains highly positive for the gold mining company, and projects in the Republic of Turkey for AGI present an exciting future of low-cost production of ounces of gold—at Alamos’ Kirazli site in particular. Alongside the new appointment of John A. McCluskey as one of a few key Alamos stakeholders to provide the team with further assistance, big changes are going to continue filling Alamos’ sails with wind, and the gold miner’s mineral reserves with many more tonnes of ore.
Utilize your additional skills.
In addition to AGI (and its many hundreds of thousands of ounces of gold produced each year), cash flow augmentation can come through your other personal assets. Writing, for instance, offers a fantastic means of producing long-term royalties payments long into the future. Learning lessons from the titles you already read can help you to tailor your approach. A Catholic book publishing company is a great resource in this space. Book publishers, particularly those working in the eBook space, create products that will continue to pay their authors and other shareholders for many years to come.
Utilizing the Kindle publishing space can help you to quickly publish the writing you’ve already created. Adding to your library of titles will bring your stature as an author higher and make your work more visible. Each time someone downloads your work, you get paid—it’s really that simple!
Passive income takes setup, but once you’ve laid the groundwork all that’s left to do is collect your check!