How to target a $50,000 passive income starting from zero
Image source: Getty Images
For many Australians, the idea of earning an extra $50,000 a year without clocking more hours at work sounds like a dream. It could mean paying off the mortgage faster, enjoying extra lifestyle choices, or retiring with confidence. The challenge, of course, is starting from zero.
The good news is that with discipline, smart investing, and time, that goal is achievable.
Step 1: Build a savings habit
The first step doesn’t involve the sharemarket at all. It’s about saving consistently. Even $500 a month invested regularly can snowball into a significant nest egg. This is where dollar-cost averaging (DCA) comes in — contributing steadily regardless of market conditions. By sticking to a schedule, you remove…
