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Of all the things in the financial world that blow my mind, interest has to be at the top of the list. Today, I’ll go over all the different kinds of accounts (from lowest to highest interest rate) that can help you earn free money.
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Passive income is a popular concept these days, with many people looking for ways to make money without actively working for it. While earning passive income may require some initial effort and investment, the potential benefits can be substantial.
If you are looking to earn passive income, here are six legitimate ways to do so:
1. Invest in dividend-paying stocks: Investing in dividend-paying stocks is a great way to earn passive income. When you invest in a company that pays dividends, you will receive a portion of the company’s profits in the form of regular payments. This can be a great way to earn passive income without having to actively manage your investments.
2. Rent out property: Renting out property is another great way to earn passive income. Whether you own a vacation rental property or have a spare room in your home that you can rent out, renting out property can provide a steady stream of income with minimal effort on your part.
3. Create and sell digital products: If you have a skill or talent, you can create digital products such as e-books, online courses, or digital art and sell them online. Once you have created these products, you can continue to earn passive income from them as people purchase and download them.
4. Start a blog or YouTube channel: Starting a blog or YouTube channel can be a great way to earn passive income. By creating engaging content and attracting a large audience, you can earn money through advertising, sponsored content, and affiliate marketing.
5. Invest in real estate crowdfunding: Real estate crowdfunding platforms allow you to invest in real estate projects with a relatively small amount of money. By investing in these projects, you can earn passive income from rental income or property appreciation.
6. Create and license your ideas: If you have a great idea for a product or service, you can create it and license it to other companies. By licensing your ideas, you can earn passive income from royalties without having to actively manage the production and distribution of the product.
In conclusion, there are many legitimate ways to earn passive income. Whether you choose to invest in stocks, rent out property, create digital products, start a blog or YouTube channel, invest in real estate crowdfunding, or license your ideas, earning passive income can provide you with a steady stream of income with minimal effort on your part. By taking the time to explore these options and find the one that best suits your skills and interests, you can start earning passive income and achieve financial freedom.
This is not what people mean when they are searching for passive income ideas.
I’m looking for passive income TO invest lol
Can you do one for Canada?
There are income restrictions for Roth and Traditional IRAs.
Fantastic video, thanks for keeping us financially updated. I hit another $32k today day trading all thanks to my Guru
Minimum amount needed to start investing?
You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Patricia Annie Brooks
For someone like me, EXCELLENT video!!! Thank you!!! ❤
1) Regular savings account.
2) HYSA.
3) Mutual fund.
4) IRA.
5) 401(k)
6) Index fund.
Unfortunately, this is the most basic of the basic lists of passive income.
Where is the 6% High Yield savings account.
Cruze thy name is click-bait
please i'm begging your team, can you please add video chapters to these videos with LISTS? please. For example, when she's talking about Passive Income#1, there's a time stamp right where she starts talking about it that we can jump to. You don't even have to spoil what they are in the chapter titles. It would be super helpful
You dont need an emerency account just put the money in a money market account then transfer 50 to 75% into high growth shares depending on your situation ! And do this every pay day ! And if you credit card ! Put into that first !
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to take risks. Saving is great but taking risks puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.
What about CD's?
This is great and all but how do I get a high-yield savings account?
Do I just walk into my local credit union and tell them I want to open a high-yield savings account and fill out paperwork and give my information and thenpoof, it's done and I start earning?
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to take risks. Saving is great but taking risks puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to Mrs Helena Crouse, my portolio is doing really great and im proud of the decisions i made last year
You missed a lot, it can be advisable if you live in an area prone to natural disasters to keep your $1000 in cash. Also if you still have a home loan, having offset accounts to keep your emergency fund and college savings in can “earn “ you more money depending on your interest rate through lowering the amount of interest charged for the loan.
Vanguard index funds like VTSAX are great, representing the entire US stock market
I think the initial entry is 3k so if you can’t afford that you can buy the ETF version VTI which is the same except you don’t need initial 3k, it’s packaged like a single stock unit representing the entire US stock market.
$1,000.00 emergency starter fund?!?!?! With todays inflation and the cost of everything through the roof…you might want to have a starter fund of $10,000.00!!!
IRS is watching you!
Grueling to listen to this; slow and tedious.
Buy businesses and own them but don't be a CEO.
Does anyone recommend a specific bank to open a high yield savings account with?
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 7k in August 2023…
Rachel I have a Money market account with my credit union that yields about 5% return. I also have a high yield savings account account at about the same rate of return. Can you help or maybe do a future video on difference between these two or advantage or disadvantages between? They seem very similar return wise… thank you!
Love the power of Pink! Great color on you
IRAs, Mutual Funds, 401K, are NOT “different ways” to make passive income. They are all the same, only BASKETS where the fruits are placed. You can have all three, and have the same apples in all three, those are NOT different. This is why I dislike “personal finance” advisors having the audacity to give investment advise…
my company has a 401k but they do not match. I have maxed my roths every year. should i still be contributing to a 401k
Clickbait.
So never use debt unless you’re the lender and receive interest. Got it.
Low quality vid
Do you recommended CD?