Here’s the ultimate guide on how to make $100 per day in passive income, REALISTICALLY, without any gimmicks or impractical ideas – Enjoy! Add me on Instagram: GPStephan
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How To Make Passive Income and $100 Per Day:
Anytime you go to buy a stock, what you’re REALLY buying into is a very tiny piece of ownership in that company. Owning stock in a company entitles you a portion of their profits…and, many companies pay you a small piece of what they make in the form a DIVIDEND.
2. Investing in a REIT
This stands for Real Estate Investment Trust…which is just an incredibly fancy way of saying: You’re buying “stock” in a company that JUST owns real estate, and in exchange for giving them your investment, they’ll pay YOU a portion of their rental income as a dividend. These real estate companies can specialize in just about anything, from medical buildings, shopping centers, senior care facilities, or residential apartment buildings… and that way, you can still get to say you own shopping centers…without, “Technically” owning a shopping center.
3. RENTAL INCOME
The “CATCH” here is that – first, you need to build up your credit score above 700…second, you need to have a steady source of income…and third, you need to have a down payment saved up…but, if you can check all three off the list, buying a rental property can be a fantastic way to make $100 per day.
You can also take these strategies to a SMALLER degree by just renting out an unused bedroom in your house, and if you don’t mind having a roommate – you may as well use that to your advantage. But, this is not COMPLETELY HANDS OFF…so, my thinking is this: if you have the time and interest, do it.
4. Bitcoin / BlockFi
Owning or holding on to Cryptocurrency in itself isn’t “passive income” … but, there are increasingly more and more websites out there that allow you to place your holdings on their site, and in turn, they pay YOU back with interest. BlockFi is the company that I’ve recently been using, and they’ll pay you up to 6% for putting your currency platform.
5. The 4% Rule With Index Funds
An index fund is basically just a big basket of stocks that you can buy into for one low price, instantaneously. This gives you the BEST diversification out there, it gives you access to nearly everything in the stock market, and – it’s incredibly easy to do. Just buy in something like a Total Stock Market Index Fund like FZROX or VTSAX…and you’re totally done. That’s literally it.
From there, we have the concept of what’s known as the 4% rule, which suggests that you can spend 4% of your portfolio for the rest of your life without running out of money. So, if I have $100,000 invested in VTSAX…that’s $4000 per year in passive income, for the rest of my life, without doing ANY more work on my end. This is PASSIVE INCOME at its finest…no phone calls, no one to report to, no one to check on, NOTHING…just keep buying this and you’re completely done.
6. Reducing your spending by $100
According to the Consumer Expenditure Survey, the AVERAGE household budget spends over $60,000 per year in expenses… and of that, it was found that $18,000 per year was spent on NON ESSENTIAL ITEMS. That means, statistically speaking…if you literally go through your spending and CUT BACK on nonessential items, you might very well be able to save $1500 per month from the household budget…and, in a way, that’s almost like getting to “keep” an extra $30 per day in passive income that you can re-invest elsewhere.
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