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One, Invest $500 within an Index Fund.
This is just an investment you can make that covers a WIDE variety of stocks or markets – and you can buy a small piece of that for a very low price. You can make passive income two ways – the first is through the stock price going up over time, and the second is through their DIVIDENDS.
Second, we’ve got another method for earning a LITTLE more passive income if you want to take a little more risk – and would be through buying individual dividend stocks.
BUT…as with anything…with reward comes risk…so, the more money you have the potential of making…the more you have the potential of LOSING….and even though a stock might have a high dividend, it doesn’t guarantee the price of the stock won’t end up going down if the company doesn’t perform well. So, keep that in mind and invest safely in companies with strong fundamentals – all of this is meant to be a long term investment.
THIRD….another way you can invest $500 for passive income is by buying a REIT.
Think of this one like, instead of buying a stock in a company like I just mentioned earlier…you’re buying a stock in a real estate portfolio. Real estate investment trusts basically pool money from investors, buy up properties within a certain category, and then pay out a portion of their rental profit as a dividend.
The FOURTH way you can make passive income by investing $500 is by paying off high interest rate debt.
Consider this like you’re #1 investing decision if you have any interest rate above 5% or so that isn’t a tax write off….PAY IT DOWN WITH $500.
HOWEVER…If you also have TIME on your hands and you want to take a very ACTIVE role in making WAYYYYYY more money with $500 – there are a few other options:
The first way you can invest your $500 is to go after sign up bonuses.
Both credit cards and banks will give you a “bonus” for opening an account with them and meeting some minimum requirements…usually, that bonus is anywhere from $50 to $200, and it usually takes about 30 minutes of work to complete.
The next way to make passive income by investing your TIME alongside with $500 is…oh man…you know I’m going to say it…. making a YouTube channel.
I still maintain that this CAN be a great way to make money IF you have a passion for talking to yourself…alone in a room…in front of a camera…and then getting frustrated when your editing software freezes and crashes…but if you can handle that and stick with it, YouTube CAN be more rewarding than your wildest imagination.
From there, you can sell a product or a service that doesn’t involve any further time on your end…for example, I created a program called The YouTube Creator Academy.
Even though it took a LOT of work upfront and a LOT of trial and error to get something to the point where it was worthy of selling it…NOW, it runs on its own, and will likely continue running on its own for the foreseeable future.
You could expand your passive income sources through blogs, websites, and so on through affiliate marketing.
This is the practice in which you are marketing someone else’s product, and you get paid a commission every time you get a sale.
The last way you can make passive income with $500 is to use that towards creating an online business that you can eventually run on autopilot – or without a lot of time on your end.
Using this money towards something like THIS would be a fantastic use of your time…and, the experience you get from a $500 will help you in so many other areas of your life beyond just this.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.