Thus the corona crisis reinforced the need and search for passive income worldwide

In 2006 I owned a very successful company for creating ringtones for cell phones. When you read this, you probably can not imagine that before the smartphone revolution we would download different ringtones to the mobile every time again and pay money for them. The business was very successful and flourished, until two years later two very dramatic things happened: changes began in the cellular market that hurt the revenues of those engaged in the field of ringtones and also began the smartphone revolution.

In the days when my company was successful and prosperous I realized that I had to do something different with the profits and decided to spread my business risk and buy income-producing real estate for investment. My thought was that I never knew what would happen to the business and field and I had to “insure myself”. The years, is the need that has become that of everyone who will read this article in fact, following the corona crisis. What did I do with the funds? I started investing in real estate in Israel and the United States.

These investments generated passive monthly income for me and so I had another monthly salary without doing anything. When I started buying real estate in Israel then the prices were very low, it was in 2008-2009, and when I started doing it in the US in 2010, the timing was after the big price drops of the subprime crisis. But the thing is that there is no such thing as proper timing for real estate, if you take every point across the graph of history, those who purchased residential real estate in Israel or the United States, have managed to yield phenomenal returns over the years from both rent and value increase. others.

What is my message to businesses, the self-employed and especially employees?

Very many businesses have been hit and more continue to be hit, locksmith to locksmith. Despite the vaccines for Corona, one thing can be said and that is that the uncertainty ahead is the greatest that has ever been. This crisis shook and changed the employment of many of the citizens of Israel and the world. Many have had to reinvent themselves and survive, this process is good because it brings out the maximum in everyone. We are the best we have to survive. However, as time goes on we get older, surviving at 30 is not like surviving at 50 or 60. We must take care of ourselves for a future in a world that is only changing, with or without the corona it will only grow because of the frequent technological changes and those yet to come.

Everyone must generate passive income for themselves and as much of it as possible. It would be better if these were assets with a high net single-digit return, which allow for truly as passive management as possible without any need for our day-to-day preoccupation. There are many examples of such assets and also unfortunately very many promises returned by dishonest people. The first message is not to run and be tempted, remember that whoever promises you dreamy and illogical returns you probably have to run away. Also, the one who offers you a guaranteed return without risks, it is of course the one that you should not go with his investments.

Which assets can generate income for you that will hold even in times of economic crisis?

Apartment for investment in Israel – Yes, even though apartment prices are high in Israel, the proximity and familiarity with properties in Israel, produces calm, confidence that tens of thousands of Israelis have made the investment to date. Although the yield is single-digit low, with the reduction in mortgages the return on equity is higher and the expectation of an increase in value in the coming years exists. Although this is the least preferable option in terms of yield, those who owe Israeli security will at least own an additional apartment or an investment apartment to start moving forward with passive income.

Private investment house in the United States – Indeed, it is sometimes difficult for Israelis to invest in the United States because it is an investment abroad. There is a sense of lack of control. But as with anything, if you perform the process after studying Profession, there is no doubt that you increase your chances of success, reduce your risks and that the path to generating significant passive income is increasing.

Bottom line: There are other passive revenue streams, the main thing is to start

The only real difficulty is not what to invest in but to start doing it in practice. We have to invent for ourselves some imaginary barrier where we realize that in a few years we will have no sources of income and livelihood left and if we do not do something, we may find ourselves facing a broken trough. These are not clich├ęs, as you have seen, the corona crisis has changed and changed the world, there is no household that does not need more sources of income today, life is becoming more expensive, you must do something to increase your non-work and personal income, as you approach retirement age This need and the fact that the pension can not be relied upon.