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5 Passive Income Ideas for 2021
As the cost of living continues to go up each passing day, we are always striving to make some extra income.
Today, I break down a few passive income ideas that you can start doing to help you rack in some much-needed funds.
Dividend-Paying Stocks
Dividend stocks are one of the easiest ways to generate passive income.
As these companies bring in funds, a portion of their profits will then be dispersed to investors in the form of dividends and all you have to do is just own a stock.
The money will be paid out quarterly and dispersed through your brokerage account with the chance of reinvesting your earnings towards buying more shares.
Dividend stocks payout per share so the more shares you own, the higher your payout.
The tricky part about investing in Dividend stocks is choosing the right company that will give you a high return.
Make sure you spend some time investigating a company’s financial statement before giving them your money.
Affiliate Marketing
Another idea to consider is affiliate marketing where bloggers, YouTubers, or influencers promote a third party product by including an affiliate link to their posts.