7 Proven Ways to Make $5,000-$9,000 Per Month in Passive Income (2024)

7 Proven Ways to Make $5,000-$9,000 Per Month in Passive Income (2)

Having a steady passive income allows you to cover your basic expenses, save for the future, and have more freedom over how you spend your time. While generating thousands of dollars in passive income per month may sound out of reach, it is possible with the right strategy and effort.

Dividend stocks pay shareholders a portion of the company’s earnings on a regular basis. The payments are considered passive income since you can collect the dividends whether you trade the stock actively or not.

  • To generate $5,000 per month in dividends, you would need a portfolio value of approximately $1 million invested in stocks with an average dividend yield of 5%.
  • For example, Johnson & Johnson stock currently yields 2.7% annually. $1 million invested would generate about $27,000 per year or $2,250 per month.
  • Top dividend stocks like Apple, Microsoft and JPMorgan Chase pay 2–3% yields. Combining stocks with higher and lower yields can produce an average dividend income of 5% on a stock portfolio.
  • Studies show dividend stocks tend to outperform non-dividend paying stocks over time. The S&P 500 Dividend Aristocrats Index has had an average annual return of 14.34% over the last 10 years compared to 13.74% for the S&P 500 Index.

Owning rental properties can provide mostly passive income after the properties are acquired and rented out. There are several paths to take like investing in real estate investment trusts (REITs), rental properties, and real estate crowdfunding platforms.

  • Real estate investment trusts (REITs) allow you to invest in rental properties as a stock. REITs pay 90% of their taxable income as dividends to shareholders.
  • Investing $500,000 in REITs with a 5% average dividend yield would generate $25,000 per year or $2,083 per month in dividends.
  • Owning rental properties directly…
7 Proven Ways to Make $5,000-$9,000 Per Month in Passive Income (2024)

FAQs

7 Proven Ways to Make $5,000-$9,000 Per Month in Passive Income? ›

Buying and holding dividend stocks is an easy way to start generating passive income. Many companies pay their investors a share of their profits each quarter (or each month, in some cases). Those payouts are often increased as the companies grow their earnings.

How to create passive income with $5000? ›

Buying and holding dividend stocks is an easy way to start generating passive income. Many companies pay their investors a share of their profits each quarter (or each month, in some cases). Those payouts are often increased as the companies grow their earnings.

How can I double $5000 quickly? ›

For a quick return on a $5,000 investment, consider options like stock trading, especially in high-growth sectors or investing in a diversified mutual fund. Short-term P2P lending can also be a way to see quicker returns, though it carries higher risk.

How can I make $10000 a month in passive income? ›

private job at electronic
  1. The Top 11 Ways to Earn $10,000 in Passive Income Each Month : Make Money Online. ...
  2. Dropshipping: The Gateway to E-Commerce. ...
  3. Using Endorsem*nts to Earn Through Affiliate Marketing. ...
  4. Etsy Print on Demand: Innovation Meets Business. ...
  5. Real estate crowdfunding. ...
  6. Creating and selling digital products.
Feb 10, 2024

How can I flip $5,000 dollars? ›

What's the best way to invest $5,000?
  1. Invest in your 401(k) and get the matching dollars. ...
  2. Use a robo-advisor. ...
  3. Open or contribute to an IRA. ...
  4. Buy commission-free ETFs. ...
  5. Trade stocks.
Nov 2, 2023

How can I make $5000 a month from home? ›

In this article, we will explore the top 10 work from home jobs that can earn you $5000 or more every month.
  1. Freelance Writing. ...
  2. Virtual Assistant. ...
  3. Web Developer. ...
  4. Online Tutoring. ...
  5. Graphic Designer. ...
  6. Social Media Manager. ...
  7. E-commerce Store Owner. ...
  8. Affiliate Marketer.
Nov 6, 2023

How can I double my money legally fast? ›

Take Advantage of 401(k) Matching

For example, they might match your contributions up to 6% of your salary. So, if your base pay is $50,000, your employer will match your contributions up to $3,000. While doubling your money isn't always easy, this is one of the quickest and easiest ways to see your money multiply.

Which investment doubles in 5 years? ›

HDFC Large and Mid Cap Fund mutual fund scheme formerly known as the HDFC Growth Opportunities Fund has given an extended internal rate of returns (XIRR) of over 27% in the last five years.

How can you double your money in 24 hours? ›

Penny stocks can double your money in a single trading day. Just keep in mind that the low prices of these stocks reflect the sentiment of most investors.

How can I make $20000 a month passive income? ›

Achieving $20,000 Monthly Passive Income - Step by Step Guide
  1. Understanding Passive Income and Its Benefits. ...
  2. Setting Realistic Financial Goals. ...
  3. Identifying Your Niche and Target Audience. ...
  4. Creating a Passive Income Business Model. ...
  5. Building a Strong Online Presence. ...
  6. Generating Multiple Streams of Passive Income.
Dec 23, 2023

How can I realistically make $10,000 a month? ›

In this guide, we'll share the 10 best ways to make $10,000 per month, including:
  1. Sell Private Label Rights (PLR) products 📝
  2. Start a dropshipping online business 📦
  3. Start a blog and leverage ad income 💻
  4. Freelance your skills 🎨
  5. Fulfillment By Amazon (FBA) 📚
  6. Flip vintage apparel, furniture, and decor 🛋
Feb 23, 2024

How to realistically make $1,000 a month? ›

Fortunately, there are plenty of realistic and achievable ways to make an extra $1000 per month without sacrificing your current job.
  1. Freelancing. ...
  2. 2.1 Online Tutoring. ...
  3. 2.2 Writing and Editing. ...
  4. 2.3 Graphic Designing. ...
  5. Ridesharing. ...
  6. 3.1 Uber. ...
  7. 3.2 Lyft. ...
  8. 3.3 DoorDash.
Nov 11, 2023

How to passively make $2,000 a month? ›

Wrapping up ways to make $2,000/month in passive income
  1. Try out affiliate marketing.
  2. Sell an online course.
  3. Monetize a blog with Google Adsense.
  4. Become an influencer.
  5. Write and sell e-books.
  6. Freelance on websites like Upwork.
  7. Start an e-commerce store.
  8. Get paid to complete surveys.

How much money do I need to invest to make $1000 a month? ›

A stock portfolio focused on dividends can generate $1,000 per month or more in perpetual passive income, Mircea Iosif wrote on Medium. “For example, at a 4% dividend yield, you would need a portfolio worth $300,000.

How to make money from 5000 dollars? ›

Here are some legitimate ways to grow your money:
  1. Invest in the Stock Market:Consider investing in individual stocks, exchange-traded funds (ETFs), or mutual funds. ...
  2. Start a Small Business:If you have a viable business idea or a skill you can monetize, consider starting a small business.
Oct 25, 2023

How can I make $1000 a month passively? ›

Passive Income: 7 Ways To Make an Extra $1,000 a Month
  1. Buy US Treasuries. U.S. Treasuries are still paying attractive yields on short-term investments. ...
  2. Rent Out Your Yard. ...
  3. Rent Out Your Car. ...
  4. Rental Real Estate. ...
  5. Publish an E-Book. ...
  6. Become an Affiliate. ...
  7. Sell an Online Course. ...
  8. Bottom Line.
Apr 18, 2024

What is the fastest way to make $5,000 dollars? ›

Your best bet is to combine multiple strategies to make 5000 fast.
  1. Rent Your Home, Car, or Storage Space. Earning Potential $5000/mo. ...
  2. Make Deliveries. ...
  3. Drive for Uber or Lyft. ...
  4. Sell High-Value Items. ...
  5. Invest in Stocks. ...
  6. Sell Stuff Online. ...
  7. Try Freelancing. ...
  8. Invest in Real Estate.
Mar 8, 2024

How to make an extra $2,000 a month passive income? ›

Wrapping up ways to make $2,000/month in passive income
  1. Try out affiliate marketing.
  2. Sell an online course.
  3. Monetize a blog with Google Adsense.
  4. Become an influencer.
  5. Write and sell e-books.
  6. Freelance on websites like Upwork.
  7. Start an e-commerce store.
  8. Get paid to complete surveys.

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