Hey all! I sincerely hope you’ve been having an excellent year so far! As promised in my last post, I bring to you my TOP 3 passive income ideas that I personally use to make money from home!
***DISCLAIMER*** I AM NOT A FINANCIAL ADVISOR AND THE READER ASSUMES ALL RISKS FROM THE FOLLOWING
Number 1: Stock Dividends
This is hands down my absolute favorite way to make an additional chunk of income without having to do any work! This concept will be covered in detail as it’s so dense and multilayered that it warrants its own post but for now here’s how it works and why you should be investing in stocks now.
The common belief has been that stocks are too risky but take a stock like Pfizer which has an annual dividend yield of 4.2%. That means if you invested $10,000 right now you are guaranteed (pending any cancellations of dividends) to make $420 a year from doing nothing more than putting your money in the account! Sure that’s small now but through the power of compound interest after 5 years you will have $12,284 in that account and after 10 years that grows to $15,724! An extra $5,724 over 10 years absolutely management free! (Click here for a free stock up to $1,600). But this is nothing compared to my next method.
Number 2: Real Estate
Real estate is no longer a rich man’s business venture. Now a days, many lenders will work with people from all kinds of financial backgrounds to get them in to a home sometimes for literally no money out of pocket. This can not be a better situation for you to earn some side money. Again, the risk is low but requires a bit more diligence on your part. Real estate takes a lot of education and it’s important to not only work with the right agent and lender but to never get in to a situation that you personally feel isn’t right.
A single family home in America is a coveted property? Why? Because no matter where someone works or lives, they need somewhere to call home. My wife and I bought a home in Utah in 2018 and our current profit is roughly $320 a month after taxes from renting out this space that we no longer live in. We could certainly charge more, but to keep it occupied with no gaps, we find it best to keep costs low. Tack on a property management company (which takes 10% on average a month) to manage all interactions with the tenants and my wife and I collect a cool $3,840 a year extra from our initial investment! Now you see why all the big companies aren’t in the business they say they’re in (looking at you McDonald’s) but they’re in the Real Estate business. Click here to find out how to find rental properties worth investing in.
Number 3: Monetization
The last technique of note is a very hot ticket item these days nevertheless it should not be overlooked as being unprofitable due to oversaturation. Millions of people due to covid-19 have found niches on social media sites such as TikTok, YouTube, Instagram and so on. These aren’t new and they require a lot more effort to get going but once they start it’s very difficult to not see continual passive income. After all, whatever you post on the internet is literally there forever.
When a site is monetized, this means that a company pays to have ads run on your content. For example: If I’m McDonald’s and want to grow my business, I could pay YouTube a sum of money for guaranteed ad time on videos. Well google would then offer it’s YouTube partners a cut of that money in exchange for running advertisements on the video. The more popular the video, the more potential money the ad can generate. Developing an audience large enough to make a dent takes time but I’ve heard of YouTubers earning as much as $4 for every 1,000 video views. This is very challenging but requires absolutely no maintenance once up and running. Earning potential is limited by the effort YOU decide to put in and as with anything your effort will dictate your outcome in the long run.
Thanks again for reading and tune in next time when we talk about the stock market and how we can start investing today!
Green to Gold Passive Income 