Get 2 Free Stocks on WeBull when you open an account and make any amount in deposit (Valued up to $1400):
Also get the New Robinhood Cash Management Debit Card and a FREE Stock from Robinhood:
My Favorite Credit Cards:
1. Chase Unlimited Rewards Card:
Here is how YOU can get started on Earning PASSIVE INCOME IMMEDIATELY:
FIRST method is the most common, it’s also the EASiest…and that’s using $1000 to buy Dividend Stocks.
A stock represents a small ownership in a company, in exchange for being a very, very, VERY small owner in the company – you get an amount of their earnings, which is usually paid out every 3 months as a dividend. When it comes to dividend stocks, there’s no shortage of them out there with varying degrees of profit.
SECOND way to make passive income for $1000 is one of my personal favorites, and I do this as well…and that’s buying an INDEX FUND.
An Index Fund is a collection of companies and stocks that you buy into, so you own a small percentage of EVERYTHING. I personally like index funds because they’re extremely diversified, they don’t cost a lot of money, they tend to be stable, consistent, and most index funds perform BETTER than professional hedge fund managers.
The THIRD way of making passive income with $1000 is buying into a REIT.
Which stands for Real Estate Investment Trust…just like how you can go and buy a stock in a company, imagine like you’re buying a stock in a property. Real estate investment trusts basically take money from investors, buy up properties within a certain category – like medical buildings, shopping centers, or residential apartment buildings…and then pay out a portion of their profit as a dividend.
The FOURTH way to make passive income with $1000 is to look into Bonds.
Companies, states, governments, etc, will offer you a chance to invest in THEM…and they will pay YOU back with Interest for giving them a loan. They set the terms of the investment, and it’s up to you to invest in them or not. Typically, Bonds might have a holding period of a few months to 10 years or more…the choice is up to you in terms of what you want to invest in.
Now those were some VERY simple ways you could start making some passive income with $1000 that pretty much ANYONE can do, that take no work whatsoever, and are fairly safe…but if you’re willing to put in some work, $1000 is more than enough to get started with another project:
INVEST IN YOURSELF. Just by spending $1000 into gaining the small amount of knowledge can help you tremendously. You can do that buy buying online investment courses, buying and reading books, watching videos online, etc.
Here is a list of books that brought me a lot of value and was very influential and enriched my life:
1. Think and Grow Rich – Napoleon Hill
2. The Intelligent Investor – Benjamin Graham
3. One Up on Wall Street – Peter Lynch
4. Rich Dad Poor Dad – Robert Kiyosaki
Like I said, passive income with a $1000 is the RIGHT amount JUST to get you started and to dip your toes in the water to see what it’s all about. We all start somewhere, so treat your first $1000 like it’s the cost of education…You will learn SO much just by doing this, that it will help pave the way for you to earn SIGNIFICANTLY more LATER Down the Line.
I am not a CPA, attorney, insurance, or financial adviser and the information in this videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. If stocks or companies are mentioned, I May have an ownership interest in them – DO NOT make buying or selling decisions based on my videos alone. If you need such advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. or financial adviser. Linked items may create a financial benefit for Moneywithmike®.
Some of the card links and other products that appear on this video are from companies which Moneywithmike® will earn an affiliate commission or referral bonus.