The first passive income idea on this list does take some start-up cash, but it absolutely helps me earn more than $1,000 per month. Dividend-paying stocks, ETFs, and other investments like Fundrise and Lending Club are helping me earn money around the clock – and all with no work on my part. While the amounts I have invested in these accounts vary, they’re all paying me more than $1,000 per month.
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You don’t have to invest individually to take advantage of dividend paying stocks (i.e. investing in an ETF like DVY, which currently has a 3.16% dividend yield – almost 4%). And while your math is indeed correct, there is more to dividend paying stocks that just the math. The reason the companies pay dividends is typically because of their underlying strength, steady growth, etc. These companies can be good investments for the long run. As such, it might not make sense to sell.
If you're curious about starting a blog, read this guide. I used Bluehost to get started with a website because it's super cheap - a free domain name and $2.95 per month to host it. I love Internet businesses because of this extremely low overhead and huge income potential. Our Bluehost deal is specific to our site, so if you want to start a website, make sure you get our $2.95 hosting deal from Bluehost.
Is there a job where you get paid to sleep?
Andrew Fiebert is a thirty-something soon-to-be father of twins, a self-professed data nerd, and has worked as a Data Engineer for Barclays Capital and iHeartRadio. He's spent the past six years growing LMM into a multi-six-figure business with over 500 hours of free personal finance education that reaches over 1 million people every month. Andrew has a B.S. in Computer Science and has been featured in Quartz, Forbes, Business Insider, and The Telegraph.
passive income opportunities
But, it took me a while to get to that point. Where I once worked in my financial planning office on most days, I started by testing things out with a few days per month away from the office at first. From there, I began working remotely 2-3 days per week, then 4-5 days per week, and so on. Eventually, I was able to run my business remotely without ever having to show up for work.
passive income stocks
This was my first foray into passive income. Putting your money in a high-interest savings account is a great idea because it is safe and usually these are e-savings accounts so that they are a bit more difficult to access (e.g. you won’t be able to raid the ATM and withdraw all your savings to buy that pair of shoes you have been eyeing). Which means that you’ll have less opportunity to meddle with your money, which means the money will be left untouched and left to grow with compound interest.
How long does it take to code a website?
I used to be wary of Ebates (now called Rakuten) because I thought the cashback didn’t amount to much, but now I love it. I’m converted! To earn money through Ebates.ca, all you have to do is sign in and then look for your online retailer and shop through the Ebates.ca portal. Then you get cash back in a few days (it says on the Ebates.ca website).