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 Fundraise and Lending Club is helping me earn money round the clock – and everyone 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.
Dividend investing, in particular, has been a profitable endeavor for me and for many other investors. According to Forbes contributor Brett Owens, dividend investors who look ahead have the potential to attain annual returns of 15%, 20%, or maybe 25%, if only they pick the right dividend-paying stocks and stay the course.
Obviously, it takes time and consistent investing to build up your portfolio where you’re earning $1,000 per month. But you have to start somewhere, right?
Where
investing may be a wealth-building strategy that has been around forever, the second passive income option on this list is fairly new.
Affiliate marketing is an income idea that requires you to have a
website or platform you can use to promote other companies, or
“affiliates.” When someone uses your affiliate link to purchase a
product or sign up for a service, you get paid.
GoodFinancialCents, earns all kinds of affiliate income through relationships we've with investment firms, insurance companies, online banks, and more. But you don’t have to do things the way I did; you could start nearly any type of website and find affiliates that work in your niche.
And remember, you don’t necessarily have to start a blog per se. I know people who are crushing it with affiliates using YouTube, podcasts, and other avenues. You can even build an affiliate business using social media!
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