12 proven ways to earn $ 1,000 $ 2,000 per month in passive income (2024)

FAQs

12 proven ways to earn $ 1,000 $ 2,000 per month in passive income? ›

If you like the idea of earning passive income, one idea to make $5,000 per month is to rent out things for money. This is probably the best option if you're very busy with your job and don't have time to start a new side hustle.

If you like the idea of earning passive income, one idea to make $5,000 per month is to rent out things for money. This is probably the best option if you're very busy with your job and don't have time to start a new side hustle.

Earning $2,000 in monthly passive income sounds unbelievable but is achievable through dividend investing. However, the investment amount required to produce the desired income is considerable. To make $2,000 in dividend income, the investment amount and rate of return must be $400,000 and 6%, respectively.

If you want to make $10k a month passively, some of the most realistic options include investing in real estate or renting out your own home or multiple properties to tenants. Dividend income investing can also work, but you need a lot of capital to reach $10,000 a month in passive income.

What is 5K a month hourly? ›

$5,000 a month is how much an hour? If you make $5,000 a month, your hourly salary would be $28.85.

One simple strategy is to invest in two types of assets: closed-end funds (CEFs) and real estate investment trusts (REITs). A CEF is a type of mutual fund that can be bought and sold like a stock on an exchange. Some CEFs specialize in high-yield bonds. Others own preferred stocks and dividend stocks.

To potentially turn $10k into $100k, consider investments in established businesses, real estate, index funds, mutual funds, dividend stocks, or cryptocurrencies. High-risk, high-reward options like cryptocurrencies and peer-to-peer lending could accelerate returns but also carry greater risks.

Rent Out Assets. If you like making passive income, another option to make $2,000 in a week is to rent stuff out for money. People do this all the time by renting out a spare room or entire house as an Airbnb host. But renting out real estate space is just one example of how you can make money with a rental business.

You can produce $500 a month in passive income through savings accounts, certificates of deposit, stocks, bonds, funds and other investment vehicles. Each offers varying rates of return, degrees of safety, convenience, and liquidity.