Building Wealth with Passive Income: 5 Strategies to Get Started
Disclaimer: This post may contain affiliate links, meaning I earn a small commission if you make a purchase through these links, at no additional cost to you. Passive income is money earned with minimal ongoing effort, allowing you to build financial security and freedom over time. Here are five proven strategies to start generating passive income: 1. Invest in Dividend Stocks Purchase shares in companies that pay dividends regularly. Reinvesting these dividends can compound your wealth over time. Use platforms like Robinhood or Vanguard to get started. 2. Real Estate Investing Rental Properties: Purchase properties to rent out for consistent monthly income. Real Estate Crowdfunding: Invest smaller amounts through platforms like Fundrise or RealtyMogul. 3. Create Digital Products Develop products like eBooks, online courses, or printables that can be sold repeatedly with little additional effort. Websites like Gumroad or Etsy make it easy to sell your creations. 4. Peer-to-Peer Lending...