9 Passive Income Ideas That Make Me $37,000/Month in 2024

hey guys welcome to silon Valley girl today we're going to talk about passive income streams that generate me around $99,000 every week so if you're interested and learning how you can do the same and how hard it is to do the same please continue watching this video up to the very end I will be ranking these income streams from the ones that make me the least right now to the ones that make me the most and I will also rate them according to how much Capital they require how much actual work they require from you and how risky they are by the way I considered a lot of my passive income streams passive until I went on a six week vacation last year as a mom of two you know I love to switch off from social media completely I like to switch off from work completely to travel the world with my kids to uh have them meet our family and we're International and when I stopped working for 6 weeks some of my passive income just decreased completely so I realized they're not really passive and when I came back home I decided to start reworking my passive income strategy and I'm happy to share my first results in this video now funny enough I am going to start with a passive income stream that is negative right now just because we started it a month and a half ago a month and a half ago we listed our Hawaii condo on Airbnb and because there were a lot of upfront costs like buying new mattresses buying new furniture in terms of cash flow we are negative right now but it's fully booked for the next month and we're hoping that in June it's actually going to be profitable and my bad there is to to surprise Americans with our Slavic Hospitality by providing extra nice teas by providing a fancy coffee machine by having the best mattresses by having everything for the beach including snorkling equipment chairs like everything we try to think of everything and uh I'm happy to share that so far we got five reviews and they're all five stars and Airbnb gave us the guest favorite badge and they also gave us the badge that our place is almost always fully booked so uh I'm happy this work is paying off but I'm also looking forward to seeing Financial results so in 3 years it's set to generate $3,700 of profit a month and uh $47,000 of profit in 5 years and this is excluding Equity appreciation our model assumes that the value of this condo is going to grow by 4% a year and uh hopefully it's going to be like that and that means that in year five we will have an annual of $58,000 of equity appreciation divided by 12 that's around $4,000 a month in equity of course we're not going to get it in cash that year we're going to get it when we actually sell the condo but I intend to hold it for the next 10 or maybe more years and if in year two we realize that this is working this is great for us we're going to buy another property but of course I will keep you posted so please subscribe to this channel if you're interested in learning more about my passive income streams and I'm also looking forward to reading the comment section guys what do you think have you tried something I think having this Collective knowledge in the comments down below would be super helpful the next income stream it actually doesn't generate a lot it's like $135 a month but I think it's worth knowing about it's actually called ibonds uh these are treasuries by the US government that right now pay 5.27% that's more than any savings account yes they have a lot of limitations they're Limited at $10,000 a year per person and you can sell them right away so I got them for myself and two of my daughters in terms of capital dependence I would give it a five because yes you need Capital you don't need to put any work you just buy them it's one and riskiness well as long as you believe in the US government it's not really risky so it's one out of five the next income stream is called the affiliate income it brings me around $400 a month I am not the best affiliate income person and I know a lot of people who do it much better and so far I've tried so many affiliate programs because I come from the world of consumers I was like let me create an affiliate for you know uh makeup or clothes so for me those categories don't really make a lot so only now I've started transitioning to categories like personal finance and credit cards and uh so far credit cards and books on Amazon made me the most but it's still only $400 a month of course I'm looking to up this income and I know there's a lot of opportunity but for me I haven't paid too much attention to it but in terms of capital dependence it's one you don't really need Capital but you need to put work into promoting those affiliate programs I will give it three out of five so in order for me to promote them I basically put links below some some of my videos but I like that this is more passive because even if I stop making videos on YouTube those affiliate links will still generate revenue and I know this because one link that is below my GMAT video that I made in 2016 is still bringing like around $100 of Revenue every month so this is truly passive requires some work but in terms of riskiness I'll give it one out of five now let's get into something that is super passive I like it a lot it's called a high savings account so what I like about those high yield savings account and I actually learned about them several years after I moved to the US because my first savings account was with a huge bank that I use for my businesses and I came to my manager and I wanted to start a savings account because this is what my mom taught me if you have free cash it just doesn't sit in your account it goes into high savings account which we had plenty of in Russia so we came to the US 2015 I think in 2019 I started kind of making money and I came to my bank manager and said I want a savings account to start saving for something he's like yeah perfect your rate is 0.01% I was like 0.01 like how does that work and I still opened that savings account because he was like oh this is going to give you some discipline I was like okay so I started that and then I started researching the whole personal finance Topic in the US and I realized they're actually high yield savings account in other Banks and they're FDIC insured and uh they're super easy to operate uh for example Sofi you just open your bank account online online right now their rates are 4.6% but even if you have a checking account with them you will still earn 0.5% which is still something compared to Major Banks and if you use my link below you will get $25 after opening the account and depending on how much you deposit you're going to get an additional bonus from 50 to $300 so use the link down below to start a high yield savings account this has been a game changer for my personal finance because I know I have cash that I can use I don't have to sell stocks Etc but this is also money that's working for me earning 4.6% this year and a high yield

Related Articles

Back to top button