Thank for this extensive work. When you make extra money you need to think simple. First thing you should consider is whatever you do must be safe enough that you don’t lose your initial investment as well. Also, look at the ways you can reduce your costs. This could be car insurance savings or paying back expensive loans or card balances. Saving is making money as well.
If you’d prefer to skip the startup phase, you might want to buy a blog that’s already built and earning revenue. This is actually pretty easy to do as a lot of people start blogs, and then get bored with them. Getting a blog going is a labor-intensive process, and it’s not uncommon for people to give up before they’ve reached their full potential.
Another option: Consider starting your own real estate investment group. This is a great way to team together with other small investors, either via pooling your money together or simply by learning from eachother. According to Joseph Hogue, CFA from PeerFinance101.com, “The common bond in all real estate investing groups is that you help each other compete against the big money players to get the best returns.”
Crowdfunding is a newer way to invest, having emerged onto the scene just within the last few years. Most people have heard of sites like Kickstarter and GoFundMe, and a very similar concept exists for real estate. Developers are always looking to raise capital to fund their projects. Through the various online platforms, investors have access to these projects and can choose to invest in both residential and commercial properties. See the List of My Favorite Crowdfunding Sites.
I wanted to specifically call out one particular strategy within equity investing that bears mentioning – dividend growth investing is when you focus on stocks that not only pay a dividend but have a history of strong dividend growth. When I was first building my portfolio of individual stocks, I focused on buying companies with a history of dividends, a history of strong growth, and financials that supported a continuation of both.
This is mostly passive once you have it all set up, but it does take a lot of work at the beginning. Real estate investing also requires occasional maintenance. Currently, we invest in a couple of rental properties and earn about $500 profit from each per month. You can read more about my rental properties at MoneySmartLife.com: How and Why I Became a Landlord.
Book sales ($36,000 a year): Sales of How to Engineer Your Layoff" continue to be steady. I expect book sales to rise once the economy starts to soften and people get more nervous about their jobs. It's always best to be ahead of the curve when it comes to a layoff by negotiating first. Further, if you are planning to quit your job, then there is no downside in trying to engineer your layoff so you can get WARN Act pay for several months, a severance check, deferred compensation, and healthcare.
Build an investment portfolio that pays out dividends (Stocks / Bonds / Mutual Funds). Dividends are payouts that companies give to their investors as a portion of their earnings. They’re often paid out quarterly. If you’ve already got an investment portfolio, it’s time to take a good look at which stocks, bonds, or mutual funds you own. You’ll see consistent returns from the ones that pay dividends. This is a fantastic way to earn passive income. Invest once and watch the returns pile up.
Network marketing, or multi-level marketing, seems to be on the rise. Companies such as Young Living Oils, Avon, Pampered Chef, and AdvoCare are all multi-level marketing companies. You can earn passive income through network marketing by building a team underneath you (often referred to as a down line.) Once you have a large team you can earn commissions off of their sales without having to do much.
Many content creators, or people who simply upload a random video, have found themselves become famous almost overnight. It’s not about the resources and budget — it’s all about what catches the attention of the internet. Marketers don’t always need a large-scale production with a celebrity to make their campaign funny, surprising, relatable, or informational.
He is the co-founder of Neil Patel Digital. The Wall Street Journal calls him a top influencer on the web, Forbes says he is one of the top 10 marketers, and Entrepreneur Magazine says he created one of the 100 most brilliant companies. Neil is a New York Times bestselling author and was recognized as a top 100 entrepreneur under the age of 30 by President Obama and a top 100 entrepreneur under the age of 35 by the United Nations.
Refinancing your mortgage is a passive income generator? Yup, it sure can be. If you're making monthly mortgage payments of $1,600 now, and you can reduce that to $1,300 per month by refinancing your home loan at a lower interest rate, you'll keep $300 in your pocket each month. Of course, refinancing isn't free -- there are closing costs. Still, if you plan to stay in your home long enough to more than break even, refinancing is well worth it. As an example, if your closing costs are $6,000 and you're saving $300 per month, you'll break even in 20 months -- less than two years!
Consider refinancing your mortgage if you haven’t done so in a while before interest rates go up further. Or consider leveraging cheap money responsibly to acquire hard assets. LendingTree Mortgage has one of the largest lending networks online, and they will contact you immediately with their offers. You want lenders competing for your business, and get hard quotes so you can pit them against each other.
What if there was a way for you to effectively make money while you sleep? Sounds like a dream come true, right? Even for the biggest workaholics, there are only so many hours in a day. If only you could get paid multiple times for something you did once—that’s exactly how passive income works! Thanks to technology, the potential to create multiple income streams is even easier than ever before. We’re no longer held back by the limitations of a traditional 9-to-5 job, and financial freedom is at our fingertips. Even if you already work a full-time job you can still improve your financial health with passive income.
Now I’ve been using Swagbucks for a while and have found the money works out to just under $2 an hour so this isn’t something that’s going to make you rich. You’d have to work 2,500 hours to make $5,000 so that’s about three and a half months, non-stop. The thing with Swagbucks though is you can do it when you’re doing something else so I flip through surveys and other stuff while I’m cooking dinner or flipping channels.
The ultimate goal of marketers interested in creating successful viral marketing programs is to create viral messages that appeal to individuals with high social networking potential (SNP) and that have a high probability of being presented and spread by these individuals and their competitors in their communications with others in a short period of time.