Right now, most of the banks are paying more than 3% for your money. I love this method because it’s truly and completely passive and your money is secure in a rock-solid FDIC insured bank account.
Hands-down, the easiest way to start earning passive income is to take your money and put it into a high-interest savings account. While some of the best passive income ideas require capital and maybe even a little effort upfront, at the end of the day, all of these ideas could be producing regular, consistent passive income for you for years to come. Just take what is already effective and find a way to make it yours. There’s no reason to try and reinvent the wheel here when there are a number of strategies that are already working for people. So how do you tap into passive income? Let’s explore the best passive income ideas out there today.
My passive income helps me to grow my wealth ( see my savings goals here) and frees up my time so I can focus on building my business. I have several passive income streams going on in my own life (as you’ll see below) and I’m building up reservoirs to tap in the future. Honestly, though, passive income sounds a little bit like a leprechaun: a mythical creature that provides you with money without you having to work for it.īut passive income–otherwise known as residual income or investment income–is the real deal, unlike magical bearded men with pots of gold. If you’re like me you’re always in search of the best passive income ideas.
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