Earn $1K monthly passive income, try these 10 traps

Want to earn passive income but don't know where to start? Personal finance expert Erika Kullberg has summarized 10 reliable ways to generate passive income, with the core idea being: initial investment or time spent leads to automatic returns later.

The most direct way

Invest in Dividend Stocks + REITs Buy stocks or real estate funds that provide continuous dividends, so you don’t have to watch the market every day and can receive money periodically. Brokers like Vanguard and Fidelity can open accounts. REIT platforms like Arrived or Fundrise allow you to invest in commercial and residential real estate, but the downside is that your money might be locked up for a long time before you see the best returns.

Digital Asset Monetization E-books, online courses, and printable templates can be created once and sold repeatedly. Amazon Kindle, Udemy, and Etsy are the most common channels. The key is to know how to market, so you can truly convert traffic into income.

P2P Lending + Crowdfunding Platforms like Fundrise allow you to lend money to others or invest in real estate crowdfunding, earning interest returns. P2P annual returns typically range from 5% to 9%, with good ones reaching over 10%. Have you calculated it? Investing $140K at an annual return of 9% can yield over $1K monthly.

There are also these tricks

Affiliate Marketing → Blog → Rental Properties → Car Rental → Storage Rental → Email Newsletter → YouTube/Social Media

The good news is: not everything requires initial capital. Making videos and recording courses is basically free; you might just need to buy some recording equipment. The bad news is: everyone has to pay taxes, but you can use depreciation and other methods to deduct them.