Maternity leave is a rite of passage for new mothers. This is the perfect time to get to know your new infant and grow into the strictures and rewards of motherhood. It’s especially important for first-time mothers to have this time away from the stress and deadlines of office life. But maternity leave also gives new mothers the perfect time to create a passive income stream that can help carry the family through the years ahead of childcare costs and additional grocery purchases.
An interesting fact: the U.S. Department of Agriculture estimates the cost of raising a child in today’s environment to be about $233,000 from birth to the age of seventeen. So to help you make the smartest financial decisions, here are some ways to earn passive income while on maternity leave.
Why take advantage of passive income streams?
Passive income does exactly what it means. From the boom of e-commerce website domains that host automated storefronts to investment vehicles that payout routine dividend checks to stockholders, passive income is a major segment of most successful investors’ portfolios. This branch of investment opportunities gives owners the ability to truly set it and forget it. Passive income pays cash directly into your bank account while you focus on the things that are most important to you. For a new mom, that’s your new baby. This postpartum period is crucial to developing the personal connection that will carry into the toddler years and beyond. So, setting investments and getting back to motherhood time is crucial to the happiness of both the first time mom and her baby.
Blogging is a great way to get started.
Blogs are a nice source of income for those spending time away and have temporary access to a larger portion of their schedule. Blogging does take some work, but as a new mom, you likely have a lot to say about the development and antics of your young child. Babies do some of the quirkiest things, and they make great subject material for journaling or blogging. By connecting with an online community like TrulyMama and beginning to document your own adventure through motherhood, you can create a lasting source of passive income to accompany you and your child through the future years of your lives.
The content you create today will live on a digital web property until you decide to deactivate it. This means the content will remain cataloged and searchable for as long as you maintain the page — drawing advertising revenue the entire time. Writing as you progress through these weeks off will give your mind the ability to process all the exciting changes that are happening in your life and draw a source of passive income for the foreseeable future at the same time!
Invest in real estate for significant dividends.
Real estate is a fantastic investment opportunity. As well, the flexibility associated with the broad variety of avenues into the property market makes real estate a winner in any portfolio. With a smaller investment, you could enter into the REIT market with stocks that track portfolios of real property ownership. Alternatively, you could buy up properties yourself.
One great way to engage with the market is to utilize the tools available on yieldstreet.com. This platform merges unique property investments with the structure of a REIT, defraying the risk of a single property asset while taking advantage of uniquely positioned spaces that offer enhanced returns and dividend payouts. With the right tools, you can find investments that include managed apartment buildings that offer huge returns on your investment without the added stress of managing the financials or property details yourself — as you would if you were buying a property yourself.
Creating passive income now while you spend your days introducing your young child to all the world has to offer is the best way to create lasting financial stability that will boost your family’s future.