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? ›

Rent Out Assets. 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.

Rent Out Assets. 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.

To turn $5,000 into more money, explore various investment avenues like the stock market, real estate or a high-yield savings account for lower-risk growth. Investing in a small business or startup could also provide significant returns if the business is successful.

Invest in Dividend Stocks

One of the easiest passive income strategies is dividend investing. By purchasing stocks that pay regular dividends, you can earn $2,500 per month in dividend income. Here's a realistic example: Invest $300,000 into a diversified portfolio of dividend stocks.

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

One of the best ways to double your money is to take advantage of retirement and tax-advantaged accounts offered by employers, notably 401(k)s.

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.

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.

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%.

You can find work through online platforms, such as Upwork, Freelancer, and Fiverr, and build a portfolio to attract higher-paying clients. With dedication and consistency, freelance writers can earn $5000 or more every month.

As we increase the rents, the cash flow per unit also increases. In Year 1, when cash flow per unit per month is $124, we would need 40 units like that to generate $5,000. This building is only 21-units, so to achieve our goal of $5,000, we would need to purchase two of these buildings.