Have you ever wanted to make money while you sleep? Well, in this video I cover my 9 favorite passive income ideas that will help you make an extra $1,000 per month.
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⭐⭐⭐ Video Summary ⭐⭐⭐
In this video I cover my 9 best passive income ideas that will help you create REAL residual income each and every month. Just put in the work once and continue to get paid over and over again. I picked out ideas that I felt that anyone could do with a little bit of time and persistence.
⭐⭐⭐ Video Breakdown ⭐⭐⭐
Idea #1: Dividend Stocks
– Dividend Paying Stocks (examples AT&T, Disney, Coca Cola)
Idea #2: High Yield Savings Accounts
– Instead of keeping your money in a regular checking account that earns you no interest, switch to a high yield savings account that helps you earn while you save.
Idea #3: Rental Properties
– Rental Properties (using Airbnb and getting a property manager or company to mange your home without you having to do any of the work)
Idea #4: Investing in Index Funds
– Your money grows over time due to the power of compound interests
– Some power index funds are created by Vanguard like VFIAX, VTSAX, VOO, VTI
Idea #5: Utilize Cash-Back Credit Cards
– Having a credit card that give you cash back for spending on purchases you where already going to make. Popular cards like Chase Freedom or Ink, American Express Blue Cash cards
Idea #6: Starting an Online Business
– Make money from affiliate marketing
– Starting a blog and making money by creating a course, membership program, or putting display ads on your website
Idea #7: Invest in REIT’s (explain what real estate investment trusts are)
– Talk about using a company like Fundrise (Fundrise.com) to start investing in REIT’s
Idea #8: Invest in Physical Gold & Silver
– Has a history of appreciating over time
– Can put precious metals in your IRA account using what is called a gold IRA
Idea #9: Starting a Youtube Channel
– Create a Youtube channel and make money from ads and affiliate marketing
– Your videos will continue to make you money over time as more and more people watch this. So the more videos you produce, the more opportunities you have to make money from advertising
So there you have it, 9 passive income ideas that can help you on your road to making over $1,000 a month. Whether you start by investing in dividend paying stocks or index funds, it is important that you get started with one of these ideas today.
There is no better feeling than having an automatic money machine every month show up in your bank account from some of your passive income streams.
🎯 What is your favorite passive income idea from the list? [Drop a Comment Below] 🎯
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DISCLOSURE: Some of the links on this page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions help fund videos like this one.
I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.