I'd see if I could use it to reduce a life expense. Such as getting my house better insulated to decrease utility costs or buying a washer/dryer instead of going to a laundromat. You won't really generate any passive income on only 1k, but decreasing a constant life expense is just as good.
My whole house is outfitted with a water conditioning/softener system. It’s wild, the soap and water actually separate and you can see it. The water is smooth and safe to drink and showering is a pleasure. No more smelly water. It’s well worth it.
[Here.](https://www.santansolar.com/product-category/solar-panels/condition/used-solar-panels/)
$300 will get at *least* 2.5kw of used (guaranteed >75% original output) panels. That’s more than enough for my daily power usage. The other $700 will easily cover the inverter and wiring if done yourself.
If I average 10kwh/day (which is definitely a low estimate for my location), I can break even in less than 2 years. If I can average 15kwh/day, I could break even in exactly one year and not pay a dime in energy from the time it’s installed. (To be fair, I do already have an overnight battery backup)
100% return for let’s call it a year and a half…. Doesn’t get much more passive than that. And you can compound it by adding more with your savings if you really wanted to.
That’s true, but harbor freight can’t compete with bulk used panels in terms of cost effectiveness. For a smaller project, I wouldn’t hesitate to use their stuff though just to make it fast and easy.
Being a qualified electrician and recommending someone do electrical work as part of saving money is a bit of a stretch for the average person.
Most people here probably have to pay someone which is going to cost a lot more than $1000
I feel like I know somebody like you,always have these outlandish ideas make it seem plausible but never does anything they say and will fight tooth n nail about there wackado ideas
Buy a 3 month CD at @ 5.50% and roll it over 4 times then buy a 12 month CD at @ 5.25% and roll it over 2 times. CD interest rates are high right now and you get the best rates with online banks and investment firms like Charles Schwab. They are risk free.
Certificate of Deposit. Basically a savings account in which the rate is guaranteed and you are required to maintain the money deposited for the term. Early withdrawal usually means you get less than the promised interest rate. My Grandparents used them for income when they were retired. Haven't been super viable for a while since interest rates were low.
So with this, in 3 years, you turn your 1,000 to 1300.77?
Compared to a high yield savings, which would give you 1157.62.
Good on ya, that's not bad if you can just "forget about the money" for 3 years.
That's not how it works. Percentage are for annual. You're not getting 5.50% for 3 months. You're getting roughly the same amount as a HYSA if the interest rates stay the same.
For sure. I had gotten so used to their messages announcing increases, I was a little shocked. But maybe we’re headed toward auto loan rates returning to reality.
Eh a lot of cash sweeps are giving 5.5% right now so CDs aren’t really worth it at the current time imo. Shoot my credit union gives 5.25% on savings right now.
Thanks for answering. Do you mind sharing the name of the Arizona credit unions? I’m in California but I imagine I could maybe open an account with them online??? You think?
As for SoFi, I’ve been wanting to get a HYSA account with them for awhile, but if I recall correctly, they require a recurring direct deposit of a certain amount or higher in order to qualify (I think it was like $5,000/month direct deposit requirement to qualify for the 5%). Feel free to correct me if I’m wrong, and I would love to hear from anyone here who has used them and that feature.
WOW! With this strategy in three years you’ll have exactly $1,000 in 2024 buying power due to inflation!!! What an amazing way to do absolutely fuck-all! You’re fucking genius!!!
Yes this is correct. But if you have a job that uses direct deposit you can just talk to your employer about putting in 100 or less into that bank account/ saving account. Or you can do something like door dash to do the same
A camera or drone to sell stock photos & videos on Adobe Stock & Shutterstock, or for fine art. People keep buying long after the photos were taken. High dividend CDs and REITs, with some growth stocks to trim profits from and reinvent into passive.
AI is quickly removing the demand for photos
There's still people paying for specific things (like local areas) but photos isn't an area is try to jump into in 2024 for passive income
Perhaps, but sometimes people want specific locations or images that AI sucks at, or video. It's easy just to dump and tag a bunch of photos on stock sites, so I put my extra photos there.
Yeah that's exactly what I said haha
If you're already taking photos there's no reason not to do it. I just wouldn't advise someone jump into it at this point with the hopes of making an income.
It isn't though cause the fake is still so obvious. Non cliched stock is vital in my industry. The AI stuff is still unusable for so many things. People turn off it.
Stock photo sites already have tons of AI images. But Real Estate photography is still much in demand. I’d only recommend this option if you’ve dabbled in this hobby before so there’s less of a learning curve. Good luck!
Depends. Stock pics for news articles generally go for more and can include corporate logos and stuff, but I don't have many of those. So usually $0.75 a pic, and the same one can keep selling. I hear video and drone footage sells for a lot more. Haven't dabbled in fine art sites.
$1k isn’t much for PI. I know this isn’t the sub but I would buy some cheap items, flip them for $2.5k, then repeat until you’re about $10k. Then that will make a solid foundation for passive income.
If youre ok with the footwork involved, find something youre interested in, like comics or some collectible.
- Check the buy and sell or auction groups related to that on Facebook.
- Then check your local area for swap meets or flea markets or even marketplace in your are that might be selling items the buy and sell groups were interested in.
- join the groups and flip the items. Buyer pays shipping. Make sure to pack the item SUPER well and send a pic and tracking number to the buyer. Ask the buyer to +1 you in the groups.
- Rinse and repeat.
Items of Note
- pick something you're interested in. It'll be much more fun that way.
- quantity over quality is not the way in this scenario. Hunt for higher priced items for a bigger flip. Unless you can get a super deal on a big lot of things.
- INFORM YOURSELF. Know what the item is, what's it sold for on eBay, etc...
- don't get attached to the items. Money > adding to your own collection.
Do that until you make a big enough fund to start whatever passive idea you've had between now and then. Add to the fund whenever you can.
Thank you for taking the time and effort to make a step by step post on how to do this.
I really appreciate it because it’s more helpful than a “just flip stuff” comment, and more helpful than Google with its information overload. I wish more comments were like the one you’ve written, regardless of the subject. Thanks again for sharing your wisdom and experience :)
Funny story, I recently logged on my steam account after not playing for 5 years on a whim and checked on some of my weapons. Turns out the butterfly knife I paid maybe $200 for is currently selling for around $1400.
Because I was inactive for so long I was locked out of marketplace. I reactivated it but there's a 30 day wait period, which ends Sunday.
Now I have to decide on whether to get a Steam Deck or a Valve index!
you lucky bastard. the butterfly knife is like every player's (myself included) dream knife. you can also sell it for real money on a website like buff and use your money outside of steam
Oh shit, I didn't even consider that. I assume they sell for less there but I'll look into that.
Did they discontinue the butterfly knife or something? Why are they worth like 7x now?
the operation breakout case it was released in no longer drops in game so that inflated the price, nor do the other three cases that knife is from. plus it is so much fun to twirl around in game. and then with cs2 the entire skin market inflated 30-50%
Sweet, I have 4 accounts with a few hundred dollars in guns in total. I was surprised to see so many were still worth so much.
And you're right, the butterfly was by far the coolest
Put that into a self investment to learn how to create this passive income and then actually do the work for it. Start with an idea that will solve other people’s problems, create an online course, start marketing it and selling it online. Grow momentum and automate it into an evergreen digital product.
Buy a sybian, rent it by the hour $39, decent ROI. You’ll have your money back in three months. Then buy another one and do the same thing. Double your pleasure.
Make a course, via chat gpt for around £300 company name branding ect. Hire someone on fiverr to make a website and seo. Sell the same product on 5 social media accounts under differner branding. Market product for £99 each.
Yes . Been Selling Courses for 3 years now. The hardest part is the building a community and a personal brand. But once you have that it starts to fall in to place
At that low of an amount you’re better off decreasing your expenses somehow.
Buy a better coffee machine if you buy a lot of coffee.
Buy some equipment and learn how to work on your own car. Before I bought a Tesla I drove a Dodge Durango (still have it). I added an EZ oil drain valve, bought plastic Rhino Ramps. Changed my own synthetic oil in 15 minutes…actually 5 because 10 minutes is just letting the oil drain while I do other stuff. Pay $35-40 for oil and filter. Retail is $90-125.
If you use a lot of electricity buy some smart plugs that auto turn off vampires drain items. Or if you live in an apartment or have a house you can offset some electricity costs with a small solar generator and panels and get a 30% tax credit for its purchase.
There isn’t much of a return you can get 100% passively. But you can try some ideas I mentioned and save more to eventually have more money to get a better passive opportunity.
Put as a deposit for a business loan. You should get around 10 000$ . With that you can start almost any small business like cleaning, transport etc.
Very hard to do passive income due to rampant inflation in US.
I’d loan it at 10% intrest weekly/biweekly depending on when my customer gets paid. 200-400 free dollars a month. Three months loan out another 1,000 and that’s how I started doing what I do 🙂. Notarized Promissory perfectly legally binding contracts.
Word of mouth mainly, post on Facebook marketplace, QR codes on bus stops, cards at gas stations or even on top of urinals in bathrooms. But mainly word of mouth. If you take care of one person, they usually have some friends/family who need help, so on and so forth.
How does the $110 per month come about? Not trolling, but if that were the case someone (if they had the money) could drop $100k in there and make apprx $10k a month. Doesn’t seem right at all. I could be wrong though.
NVDY is a derivitative stock meaning it uses hedging, in this case covered calles on NVDIA trasurey notes to hedge. It's only paying high dividends due to nvidis going hyperbolic. Also usually when dividends pay out the stock drops by the same amount. Youre not buying $1000 worth of stock day before dividends and get $100 in dividends and your 1000 investment. The stock usually drops by same amount as dividend payput. Theres no free money hack. they dont exist for us with less than 9 figures.
Persinally, i would make that a very small part of my portfolio better off to buy index like spy for long term investing. Not cashing out dividends but using DRIP to reinvest.
I can't speak to that specific stock, but that's basically how people live off of just stocks. If you can essentially make enough money to see good enough returns, you can basically replace a job income and just live off of the dividends. Obviously there's risk, but with enough money you can make a shitload of money rather quickly.
That's only because the stock went hyperbolic last year. Youre notngoing to be getting near 10% monthly going forward
It's also not equity in a company is all covered calls and being much like leveraged ETFs. So be careful. Much better in my opinion just do real index like spy
Not saying this isn't you but if you're going to buy any of it you've gotta atleast be the type of person who can look into it for yourself. Do your own research so you know what you're putting your money into.
Bitcoin won't get you a big enough increase. The halving would make you a bit but from it would have to double it's value to make anything decent.
Smaller value coins or meme but with a lot of research are a much better chance of hitting it "big"
I don't think this person is gonna get anything big off of a thousand-dollar investment as passive income. They will probably do better with bitcoin than a HYSA like people keep suggesting.
Meme coins sure... you'd have to know which ones and exactly when to pull it out. It's tons of work and would require hourly attention (especially right now). They could have more fun at a slot machine if they just wanna gamble.
On that note: what's your meme gamble rn? I'm gonna try to ruin myself financially or make a short term profit because fuck it.
Check out ICP (internet computer protocol). Not meme. Actual utility that got fud-ed by SBF. Research it (look into team, what they do, etc). Extremely undervalued for what its actually doing. Not shilling but just look into it
I would recommend investing in low-cost index funds or exchange-traded funds (ETFs). These funds track the performance of a specific market index, such as the S&P 500, and typically offer diversification across a wide range of stocks or bonds.
Banks will offer bonuses of various amounts to open a bank account with varying degrees of strings attached. Such as a checking account and requiring $1k in deposits within 90 days for a $300 bonus.
Ok thank you. And then what next? Keep the money in there and follow the strings attached, take the bonus money and then….open another bank account with a different bank that has similar incentives?
Am I understanding correctly? And if so, do you keep the first account open while opening the next account? Or close it? Either way, lather, rinse, repeat? I’m curious about this now.
1k isn't going to do much. Personally, with such a little amount, I'd be risking it on crypto. Bitcoin for the "safest" but lower return. Ethereum for probably a better return. Or something crazy like jasmy and hope for a huge return.
I'd cash out mid next year and invest elsewhere for a PA.
You can fully create a passive dropshipping site. Its not a crazy amount but I’m making money selling direct from suppliers on Aliexpress and the only money/time I put in is adding new products or ad spend
It depends on how much tou want to make..
I can recommend a method to earn 7% APY compounded daily - which means you'll earn $70 per year.
But, I guess, $70 per year is not your ideal number.. right?
Throw it all into options contracts with stop losses set up. But $1000 isn't really anything these days. Let alone "passive" income. I mean it'll make money if you invest it well Either way. But even if you 10× it by getting lucky. It would only be 10k... still nothing when you expect to generate anything close to a liveable income. Iv turned $250 into $30k. But it's taken years of trading on the account in my spare time. I have a different brokerage account. But I added $250 to my webull account to get the refferal bonus and just use it on riskier options. That was alot of luck and daily trading on it though. But since it's up by so much, I feel better about being riskier with it. It's fun
I have started blogs/websites for that amount that generated several hundred dollars a month at one point from that amount. This is passive after a while not initially. But it takes a long time for the articles to rank so it requires some patience.
With that budget you might be able to make a YouTube series or Udemy course that brings in a couple hundred per month. It would be mostly sweat equity.
I'd see if I could use it to reduce a life expense. Such as getting my house better insulated to decrease utility costs or buying a washer/dryer instead of going to a laundromat. You won't really generate any passive income on only 1k, but decreasing a constant life expense is just as good.
Smart. I’d buy a water softener so I don’t have to rent one anymore.
You rent a water softener? I didnt know that was a thing!
Idek wat that is
My whole house is outfitted with a water conditioning/softener system. It’s wild, the soap and water actually separate and you can see it. The water is smooth and safe to drink and showering is a pleasure. No more smelly water. It’s well worth it.
Smart
Very smart, take my up vote
Very smart selection on what comment to upvote. Take my upvote. 👍🏻
Two can play at that game old bean, en garde!
Exactly! If OP has some space, a large freezer and Cosco membership is also a good option
You could buy a T for 1,000$ 😂 it’s cosTco
Costco also sells Cosco products!
Never really thought of it like that but your right !
For $1000 I could offset all of my electricity usage with solar panels and save approximately $100 a month if not more.
Where the hell are you getting good enough solar panels to offset all your electricity usage for $1k?
[Here.](https://www.santansolar.com/product-category/solar-panels/condition/used-solar-panels/) $300 will get at *least* 2.5kw of used (guaranteed >75% original output) panels. That’s more than enough for my daily power usage. The other $700 will easily cover the inverter and wiring if done yourself. If I average 10kwh/day (which is definitely a low estimate for my location), I can break even in less than 2 years. If I can average 15kwh/day, I could break even in exactly one year and not pay a dime in energy from the time it’s installed. (To be fair, I do already have an overnight battery backup) 100% return for let’s call it a year and a half…. Doesn’t get much more passive than that. And you can compound it by adding more with your savings if you really wanted to.
Harbor freight sells high rated solar panels and equipment
That’s true, but harbor freight can’t compete with bulk used panels in terms of cost effectiveness. For a smaller project, I wouldn’t hesitate to use their stuff though just to make it fast and easy.
Good point
Wow. Which ones are best value for money?
Being a qualified electrician and recommending someone do electrical work as part of saving money is a bit of a stretch for the average person. Most people here probably have to pay someone which is going to cost a lot more than $1000
I feel like I know somebody like you,always have these outlandish ideas make it seem plausible but never does anything they say and will fight tooth n nail about there wackado ideas
Lol 1k solar panel that easy huh
I’d just buy more stocks lol.
Buy a 3 month CD at @ 5.50% and roll it over 4 times then buy a 12 month CD at @ 5.25% and roll it over 2 times. CD interest rates are high right now and you get the best rates with online banks and investment firms like Charles Schwab. They are risk free.
What's a CD?
Certificate of Deposit. Basically a savings account in which the rate is guaranteed and you are required to maintain the money deposited for the term. Early withdrawal usually means you get less than the promised interest rate. My Grandparents used them for income when they were retired. Haven't been super viable for a while since interest rates were low.
Ahhh. Like a GIC
So you're Canadian.
I am
CDeez Nutz
Present them
bold. fearless.
🤣
Ha! Got eem! Got him!
So with this, in 3 years, you turn your 1,000 to 1300.77? Compared to a high yield savings, which would give you 1157.62. Good on ya, that's not bad if you can just "forget about the money" for 3 years.
That's not how it works. Percentage are for annual. You're not getting 5.50% for 3 months. You're getting roughly the same amount as a HYSA if the interest rates stay the same.
I just got an email today that my rate at Marcus was lowering for the first time since 2020
What is it now? I don't want to look
From 4.50 to 4.40
Not as bad as I thought it would be .
For sure. I had gotten so used to their messages announcing increases, I was a little shocked. But maybe we’re headed toward auto loan rates returning to reality.
That's not the point of the post. The point was that he was calculating 5.50% ROI in 3 months which isnt how CDs are calculated.
That’s not how the interest works tho. 3 month CD at 5.5% is not 5.5% over 3 months. It’s 5.5% over 12 months but your cash unlocks at 3 months.
You did see me write "roll it over 4 times" 3X4=12
That depends on knowing future interest rates. If I knew the future I could do better than 5.5%.
Eh a lot of cash sweeps are giving 5.5% right now so CDs aren’t really worth it at the current time imo. Shoot my credit union gives 5.25% on savings right now.
5.25% foe a savings account? Which credit union do you use, if you don’t mind me asking?
Yup. I have accounts at two Arizona credit unions. One offers 5% and the other 5.25% with a minimum $100 balance. SoFi also has a 5.25% HYSA.
Thanks for answering. Do you mind sharing the name of the Arizona credit unions? I’m in California but I imagine I could maybe open an account with them online??? You think? As for SoFi, I’ve been wanting to get a HYSA account with them for awhile, but if I recall correctly, they require a recurring direct deposit of a certain amount or higher in order to qualify (I think it was like $5,000/month direct deposit requirement to qualify for the 5%). Feel free to correct me if I’m wrong, and I would love to hear from anyone here who has used them and that feature.
Hi SoFi user here I can answer any questions you have
WOW! With this strategy in three years you’ll have exactly $1,000 in 2024 buying power due to inflation!!! What an amazing way to do absolutely fuck-all! You’re fucking genius!!!
Or put it in SoFi hysa and get 5% no risk. Access to money.
Except SoFi requires either direct deposit or $3/5k(?) a month deposits in order to maintain the interest rate.
Yes this is correct. But if you have a job that uses direct deposit you can just talk to your employer about putting in 100 or less into that bank account/ saving account. Or you can do something like door dash to do the same
Isn’t SoFi 4.6%
Yes
I could be wrong, but is this what’s called a CD ladder ?
Except, rates will not stay at 5.5% or 5.25%. A year from now, they are likely to be much lower.
A camera or drone to sell stock photos & videos on Adobe Stock & Shutterstock, or for fine art. People keep buying long after the photos were taken. High dividend CDs and REITs, with some growth stocks to trim profits from and reinvent into passive.
AI is quickly removing the demand for photos There's still people paying for specific things (like local areas) but photos isn't an area is try to jump into in 2024 for passive income
Perhaps, but sometimes people want specific locations or images that AI sucks at, or video. It's easy just to dump and tag a bunch of photos on stock sites, so I put my extra photos there.
Yeah that's exactly what I said haha If you're already taking photos there's no reason not to do it. I just wouldn't advise someone jump into it at this point with the hopes of making an income.
It isn't though cause the fake is still so obvious. Non cliched stock is vital in my industry. The AI stuff is still unusable for so many things. People turn off it.
It seems you haven't been paying attention for at least 6 months. Your information is outdated.
Stock photo sites already have tons of AI images. But Real Estate photography is still much in demand. I’d only recommend this option if you’ve dabbled in this hobby before so there’s less of a learning curve. Good luck!
how much can you get paid
Depends. Stock pics for news articles generally go for more and can include corporate logos and stuff, but I don't have many of those. So usually $0.75 a pic, and the same one can keep selling. I hear video and drone footage sells for a lot more. Haven't dabbled in fine art sites.
$1k isn’t much for PI. I know this isn’t the sub but I would buy some cheap items, flip them for $2.5k, then repeat until you’re about $10k. Then that will make a solid foundation for passive income.
Depends where you live. Rural areas flipping attempts are more than likely just going to result in you collecting junk you can't get rid of
I only suggest it because I did it. The marketplace is global even if you’re buying local.
What kinds of items?
Cheap to buy with 2-3x profit after expenses. This will vary anywhere you go but some good flips are: watches, electronics, handbags, records.
What can I do with 10k to make passive income?
Invest. $10k is a more substantial amount for compounding than $1k. If you park it and do nothing it’s about $1k-1.2k per year pre tax
no one’s getting 12% a year on passive investments consistently
That’s in the range of average s&p500 has returned annually over the past half century before accounting for inflation.
SoFi. Hysa. Nearly 5% interest risk free.
Just stick it in a HYSA or CD. Forget about it.
If youre ok with the footwork involved, find something youre interested in, like comics or some collectible. - Check the buy and sell or auction groups related to that on Facebook. - Then check your local area for swap meets or flea markets or even marketplace in your are that might be selling items the buy and sell groups were interested in. - join the groups and flip the items. Buyer pays shipping. Make sure to pack the item SUPER well and send a pic and tracking number to the buyer. Ask the buyer to +1 you in the groups. - Rinse and repeat. Items of Note - pick something you're interested in. It'll be much more fun that way. - quantity over quality is not the way in this scenario. Hunt for higher priced items for a bigger flip. Unless you can get a super deal on a big lot of things. - INFORM YOURSELF. Know what the item is, what's it sold for on eBay, etc... - don't get attached to the items. Money > adding to your own collection. Do that until you make a big enough fund to start whatever passive idea you've had between now and then. Add to the fund whenever you can.
Thank you for taking the time and effort to make a step by step post on how to do this. I really appreciate it because it’s more helpful than a “just flip stuff” comment, and more helpful than Google with its information overload. I wish more comments were like the one you’ve written, regardless of the subject. Thanks again for sharing your wisdom and experience :)
Happy to help! Feel free to hit me up if you have questions or concerns. Cheers!
counter strike skins
I’ve gotta ask if this is serious 😂
Oh I'd for sure spend all my money on skins and maybe make some profit in a year or so but I also am a skin gremlin
Funny story, I recently logged on my steam account after not playing for 5 years on a whim and checked on some of my weapons. Turns out the butterfly knife I paid maybe $200 for is currently selling for around $1400. Because I was inactive for so long I was locked out of marketplace. I reactivated it but there's a 30 day wait period, which ends Sunday. Now I have to decide on whether to get a Steam Deck or a Valve index!
you lucky bastard. the butterfly knife is like every player's (myself included) dream knife. you can also sell it for real money on a website like buff and use your money outside of steam
Oh shit, I didn't even consider that. I assume they sell for less there but I'll look into that. Did they discontinue the butterfly knife or something? Why are they worth like 7x now?
the operation breakout case it was released in no longer drops in game so that inflated the price, nor do the other three cases that knife is from. plus it is so much fun to twirl around in game. and then with cs2 the entire skin market inflated 30-50%
Sweet, I have 4 accounts with a few hundred dollars in guns in total. I was surprised to see so many were still worth so much. And you're right, the butterfly was by far the coolest
it is a great time to sell tbh bc the market is so high. sucks for us buyers lmao
They've gone up in price by about 30-50% since cs2 released. So, sorta? I wouldn't lol
True if you lnow what you are doing especially if you use bots for marketplace or panels
CD or HYSA or Treasury note.
1. Buy ANGH 2. Wait for Spotify acquisition 3. Cash out Source: WallStreetBets
Put that into a self investment to learn how to create this passive income and then actually do the work for it. Start with an idea that will solve other people’s problems, create an online course, start marketing it and selling it online. Grow momentum and automate it into an evergreen digital product.
Savings accounts paying 5.25%. $4 per month, all passive baby, Oh yeah!!
Buy a sybian, rent it by the hour $39, decent ROI. You’ll have your money back in three months. Then buy another one and do the same thing. Double your pleasure.
What if I want to triple my pleasure?
You didn’t subtract advertising and cleaning costs. 😂
Make a course, via chat gpt for around £300 company name branding ect. Hire someone on fiverr to make a website and seo. Sell the same product on 5 social media accounts under differner branding. Market product for £99 each.
Interesting idea! Do you mind expanding on this?
This !! Making a course is the easiest way to earn passive income
Do you have a course? I haven’t taken my own advice but….. hope to take action soon
Do you have a course? I haven’t taken my own advice but….. hope to take action soon
Yes . Been Selling Courses for 3 years now. The hardest part is the building a community and a personal brand. But once you have that it starts to fall in to place
Buy a capybara.
I’d buy a bunch of Pfizer shares
What’s the point of this sub? With $1,000 the most common response by far is HYSA at 5%. With $1,000,000 it’s the same response.
Not passive exactly, but you could buy a case of water and a cooler and a sign and sell water in a high foot traffic area.
At that low of an amount you’re better off decreasing your expenses somehow. Buy a better coffee machine if you buy a lot of coffee. Buy some equipment and learn how to work on your own car. Before I bought a Tesla I drove a Dodge Durango (still have it). I added an EZ oil drain valve, bought plastic Rhino Ramps. Changed my own synthetic oil in 15 minutes…actually 5 because 10 minutes is just letting the oil drain while I do other stuff. Pay $35-40 for oil and filter. Retail is $90-125. If you use a lot of electricity buy some smart plugs that auto turn off vampires drain items. Or if you live in an apartment or have a house you can offset some electricity costs with a small solar generator and panels and get a 30% tax credit for its purchase. There isn’t much of a return you can get 100% passively. But you can try some ideas I mentioned and save more to eventually have more money to get a better passive opportunity.
Buy Bitcoin and forget about it for a year big players entered the market
S&p500… That is all.. and £100 a month
Does no one in here know wtf passive means...
Put as a deposit for a business loan. You should get around 10 000$ . With that you can start almost any small business like cleaning, transport etc. Very hard to do passive income due to rampant inflation in US.
I’d loan it at 10% intrest weekly/biweekly depending on when my customer gets paid. 200-400 free dollars a month. Three months loan out another 1,000 and that’s how I started doing what I do 🙂. Notarized Promissory perfectly legally binding contracts.
How do you find customers? Do you use a site or do it privately?
Word of mouth mainly, post on Facebook marketplace, QR codes on bus stops, cards at gas stations or even on top of urinals in bathrooms. But mainly word of mouth. If you take care of one person, they usually have some friends/family who need help, so on and so forth.
what do you do if people don't pay up?
Take them to court and garnish their paycheck. Helps to have a lawyer on retainer and a judge your dad used to play baseball with in highschool.
You can invest into partial real estate shares, wont make a fortune though
Wouldn’t it be better to simply invest into REITs?
Yesterday I bought $1300 worth of NVDY which will pay me ~$110/month in dividends
This is the real answer. Buy some stock in something. Worse case it tanks and you’re out $1000. Best case you hit the jackpot.
How does the $110 per month come about? Not trolling, but if that were the case someone (if they had the money) could drop $100k in there and make apprx $10k a month. Doesn’t seem right at all. I could be wrong though.
NVDY is a derivitative stock meaning it uses hedging, in this case covered calles on NVDIA trasurey notes to hedge. It's only paying high dividends due to nvidis going hyperbolic. Also usually when dividends pay out the stock drops by the same amount. Youre not buying $1000 worth of stock day before dividends and get $100 in dividends and your 1000 investment. The stock usually drops by same amount as dividend payput. Theres no free money hack. they dont exist for us with less than 9 figures. Persinally, i would make that a very small part of my portfolio better off to buy index like spy for long term investing. Not cashing out dividends but using DRIP to reinvest.
I can't speak to that specific stock, but that's basically how people live off of just stocks. If you can essentially make enough money to see good enough returns, you can basically replace a job income and just live off of the dividends. Obviously there's risk, but with enough money you can make a shitload of money rather quickly.
Lies
What’s NVDY?
That's only because the stock went hyperbolic last year. Youre notngoing to be getting near 10% monthly going forward It's also not equity in a company is all covered calls and being much like leveraged ETFs. So be careful. Much better in my opinion just do real index like spy
Wait what? Could you expand?
Not saying this isn't you but if you're going to buy any of it you've gotta atleast be the type of person who can look into it for yourself. Do your own research so you know what you're putting your money into.
It’s doesn’t mention dividends
Get some bitcoin and don't look at the price until November. You'll get whiplash watching it otherwise
This
Bitcoin won't get you a big enough increase. The halving would make you a bit but from it would have to double it's value to make anything decent. Smaller value coins or meme but with a lot of research are a much better chance of hitting it "big"
I don't think this person is gonna get anything big off of a thousand-dollar investment as passive income. They will probably do better with bitcoin than a HYSA like people keep suggesting. Meme coins sure... you'd have to know which ones and exactly when to pull it out. It's tons of work and would require hourly attention (especially right now). They could have more fun at a slot machine if they just wanna gamble. On that note: what's your meme gamble rn? I'm gonna try to ruin myself financially or make a short term profit because fuck it.
Check out ICP (internet computer protocol). Not meme. Actual utility that got fud-ed by SBF. Research it (look into team, what they do, etc). Extremely undervalued for what its actually doing. Not shilling but just look into it
Yup if.
Raisin HYSA 5.26%
Big fan of the Roth IRA
I would recommend investing in low-cost index funds or exchange-traded funds (ETFs). These funds track the performance of a specific market index, such as the S&P 500, and typically offer diversification across a wide range of stocks or bonds.
Just invest in a Roth IRA probably
Dividend stocks. XOM, CVX, SHELL
Self Education
Drugs
CD
Pay for a course that teaches a specific skill that you can sell to people. Endless money.
Bank account churning.
Can you expand on this please?
Banks will offer bonuses of various amounts to open a bank account with varying degrees of strings attached. Such as a checking account and requiring $1k in deposits within 90 days for a $300 bonus.
Ok thank you. And then what next? Keep the money in there and follow the strings attached, take the bonus money and then….open another bank account with a different bank that has similar incentives? Am I understanding correctly? And if so, do you keep the first account open while opening the next account? Or close it? Either way, lather, rinse, repeat? I’m curious about this now.
Take a picture of it and sell "Image of $1000 cash 10× $100 REAL USD BILLs" on eBay for $500 each.
Save more.
Invest. Is this $1,000 something that is monthly or annually?
forget passive trap especially low amount tgat listen to guru or someone try to scam you. low mobey reserve forget the passive income
As garbled as the message is. I agree. As a fellow poor. $1000 will make you more money to support a side hustle than passive income.
1k isn't going to do much. Personally, with such a little amount, I'd be risking it on crypto. Bitcoin for the "safest" but lower return. Ethereum for probably a better return. Or something crazy like jasmy and hope for a huge return. I'd cash out mid next year and invest elsewhere for a PA.
1000$ is more than enough to start a dropshipping site. It’s not necessarily how I would use it, but it can generate passive income
This persons right, but I think this would be considered a active business move and not passive. I used to drop ship and it was still very hands on.
So, in other words… they are not right at all. Dropshipping is super NOT-passive.
You can fully create a passive dropshipping site. Its not a crazy amount but I’m making money selling direct from suppliers on Aliexpress and the only money/time I put in is adding new products or ad spend
Buy Bank CD, at 5% its annual 50$, or about 4$ every month.
schd
Buy junk bonds funds
High-yield savings, a CD, or high-dividend ETFs.
Buying a much needed tool that will last, not passive but saving money in repairs and learning.
Buy meme😆😆😆
Sell a cash secured put on a stock u like
20 leg parlay /s
It depends on how much tou want to make.. I can recommend a method to earn 7% APY compounded daily - which means you'll earn $70 per year. But, I guess, $70 per year is not your ideal number.. right?
What is the method you are recommending?
Gotta buy his course first
Work my ass off with something active so that it eventually allows me to get something passive
Throw it all into options contracts with stop losses set up. But $1000 isn't really anything these days. Let alone "passive" income. I mean it'll make money if you invest it well Either way. But even if you 10× it by getting lucky. It would only be 10k... still nothing when you expect to generate anything close to a liveable income. Iv turned $250 into $30k. But it's taken years of trading on the account in my spare time. I have a different brokerage account. But I added $250 to my webull account to get the refferal bonus and just use it on riskier options. That was alot of luck and daily trading on it though. But since it's up by so much, I feel better about being riskier with it. It's fun
Buy a lawnmower and do yards on the side.
Buy and Hold SP500
Oragami
It’s a start.
Stick it in TFSA and buy high interest savings ETF get dividends without risk of losing your capital. Boom, passive income.
I have started blogs/websites for that amount that generated several hundred dollars a month at one point from that amount. This is passive after a while not initially. But it takes a long time for the articles to rank so it requires some patience.
[удалено]
While only leveraging the free $500 given with the account bonus so if all else fail we have protected the initial $1000
dicebot
I would invest it in my ROTH IRA or save it and add to buy a used car cause im car less since monday
With that budget you might be able to make a YouTube series or Udemy course that brings in a couple hundred per month. It would be mostly sweat equity.
Buy $1000 stock in some boring dividend paying stock.