How to make $30-150 dollars a day making small investments

I’ve been doing so much research on passive income streams that I’m glad it’s a long weekend.  There are literally hundreds of different things you can do that will generate passive income!

A major franchise business or restaurant is a great example of a single source of income, but most need somewhere between $1-2 million in order to qualify. The advantage is your buying into a guaranteed (usually 6 -7 figure) income and business model. Another one is land lording. Buying a house  and renting it for passive income won’t be enough to retire, but a small apartment building might bring in enough to live comfortably.

The average american income is around $50k. After bills and expenses there is not much left to save, even in the best case of saving $25k a year on average. There’s tens of millions who are below the average income in America. Many people are living month to month, unable to save much or at all.

The truth is there are very few single things that you can buy into or invest in that that will give you a guaranteed steady income without first having millions of dollars in the bank. The good news is, it still may be possible to break free within a few years by purchasing lower value investments with lower returns, and amassing 3-4 of these over a period of five years.

There are a franchises that are much cheaper, like Vangaurd Cleaning, ReMax Reality, and Liberty Tax Service. The drawback is the return is not high enough to retire immediately- but it will boost your annual income. They start at $3K, so they could be a good in for some people that don’t have much spare cash. You can also sell them to other investors if invest and don’t think it’s right for you after a while, so that lowers risk.

It seems that the best thing to do is to set up multiple sources of passive income across time. You can’t afford much now. So, you have two options which you must execute in tandem. You must save your money for a long time, and invest in something big. Or, you can save your money for a while and make a series of smaller investments.

By doing this, you can more quickly expand your portfolio of investments. Let’s say your an average American who’s been saving your money for three years. After unforeseen financial impacts, the $75k you should have is in fact $52K. There’s still at least 50 investments you can make today on this list.

If you make an extra $3600 a year from one of those investments, you’ve added 14% to your annual base income. You’d now make $28.5k. Was your last raise that much of an increase?

Now, where did I get $3600 from? If you look each franchise on the list, you see that the net gains are often higher than that

I say $3600 because that is the first milestone you should set- try to make $10 a day via passive income. It’s very likely in the first year you will exceed this. The next goal is $20 a day, then $30, and so on. If you can make $100 dollars a day, you will bring in a considerable amount of passive income.

dollday

Assuming you have $50,000 now- or will soon. These two table show business plans based on making small investments. On the left, we assume $10 dollars a day for each investment. On the right, one $20 and three $30. You can make your own and mix and match daily net gains. Please note that investment income should be separate from savings. I deducted 20% for unforeseen expenses. On the right, if you notice, you will bring in $37,000 of passive income annually. That’s more than you make in savings. Two more years of this and you could quit your day job.

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Goal Achieved: $3 per day passive income

 

In an effort to discover what works and what doesn’t with passive income, I recently decided to give affiliate marketing a try.

I think affiliate marketing is great, but only if you truly believe in the product. I don’t think it’s fair to back a product if you’ve never used it before. That said…

I decided to made a new WordPress Site. This site was focused on primarily survival/outdoors gear. I was inspired to make the site to increase awareness for basic emergencies supplies, how to use them, and where to get them. I monetized the site by using affiliate links instead of ads. Such that if a user purchased the product through clicking the link on my site, I would receive a small cut of the sale.

 

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The First Week. Amazon pay’s fees on shipment, not on click.

Everything went great with the site for the first week! The first few days saw several hundred views, and many users engaged with my links. Following the first day, I began to see revenue. All in all, about $30 bucks for the week and I didn’t lift a finger. I also hadn’t yet done SEO or anything of the sort. I was enthralled!! I was officially making passive income.

Why do I say was? Because over the weekend my site was shut down. It was hosted with a free wordpress.com domain, and for some reason the site was blocked. If you look at the image above, there were two days with no traffic, and thus no affiliate revenue.

After reviewing the terms word for word It was not clear to me what I did that was against the terms. So, I contacted customer service. However, I did not and have still not heard back. Defeated, I choose to research my options- as it was clear I could no longer host this site on wordpress (for whatever reason).

After much deliberation, I went with hostgator. I compared bluehost and godaddy as well as a few others, but hostgator provided the best value for the product. So far everything has been great with them. Plus, I can make as many sites as I want. The site is back up over the weekend and is again bringing a few dollars a day. I had to rebuild most of it. XP

Hopefully, it will keep making a few bucks a day. If so, then I may have to expand on my endeavors. It also may stop generating revenue, in which case I would re-evaluate my model.

Either way, I’ve never made passive income before. $3 seems insignificant, but it adds up. Assuming the totally unlikely probability of $3/day everyday for 40 years, that’s nearly $44,000. Assuming every site I make makes $3 a day, I would need to make 50 sites to live comfortably.

Either way, it’s more than just making money! It’s also being savvy with your money!

Next goal: $10 per day!

EDIT: GOAL $20 per day ACHIEVED!

 

Bill Gates thinks we need new economic models

Nearly forty years ago Bill Gates, along with Paul Allen, founded Microsoft. Since then Microsoft has been a driving force in the software, enterprise, and IT industries. He’s also one of my personal heroes.

He posted this note on his blog after reading “Capitalism Without Capital” by Jonathan Haskel and Stian Westlake.

Gates points out that the intrusion of software into the industry that was previously driven by tangible goods the world needs to rethink economic models. He points out in the below image of the Supply/Demand model that this is how he was taught the economy worked.

It’s not entirely untrue, but this model doesn’t work for software anymore- because software can be deployed and shared anywhere for little to no cost. Rather than things like cars- which require materials and people to assemble each one. Software is also no longer very transferable- with many companies moving to subscription based models requiring you to log in to the software for access. As such, you can’t sell used software easily anymore. But you could still sell your car.

Regardless… the blog post is great and you should check it out: Gates on Gates Blog

I’m going to check out Capitalism w/o Capital! When I finish it I’m going to post my perspective on it, as I wonder- between job loss and other things- exactly how the worlds economy will evolve in the coming decade.

Source:

Gates on Gates Blog

Goal Achieved: $20 in one Day Passive Income!

Last April I posted $3 a day income goal. This was a huge milestone for me as through various passive income I paid my initial blogging setup costs back in one month’s time. This doesn’t account for my book’s income- just affiliate marketing.

This went well for the next month, and the month after that, and so on fairly steady some passive dollars came my way. SURPLUS! I bought another website domain for another project, And then another web- then I got caught up with work- and I stopped contributing to my blog and all of my passive income projects. Doing so has made me realize how important it is to share as much as I can about what I’m learning in regards to what works and what doesn’t with affiliate marketing… so I’m trying to figure out the ins and outs of it all- which I’ll share on this blog.

Fast forward to the past few months- I’m nearing completion on a those personal projects and getting back into this passive income blogging experiment. I never thought I would make back by $100 WordPress investment. Since then, I have built a bunch of different sites using ASP.NET and react and have learned a lot which I plan to share in post in the future. I’ve also moved most of my new work to Azure- which has been awesome.

In getting back in the habit of posting content I noticed an interesting trend. The week following my break from posting articles my passive income quickly returned to $2 a day. I’ve since posted several more articles which have gotten a lot of visibility through search engines and other websites and now I’ve hit $10 and $20 dollar days via blogging!

I’m not going to pop open the champagne yet though- my next goal is to get $10 (and then $20) a day consistently. And then to try and peak at $50 a day.

This is only income from my Amazon Affiliate links.

Please Like/Share/Subscribe if you like this content! Let me know in the comments what you think- have an awesome day!

How to save money on auto insurance with this easy trick!

This simple trick could help you save hundreds of dollars per year!

Most people pay month to month for their auto insurance. You probably do as well… you probably didn’t even know you had another option.

Most car insurance companies will also let you pay your entire insurance bill at a steep 20-30% discount if you do it all at once and not month to month. They don’t advertise this because the can make considerably more when you pay month to month.

That means if you pay $140 a month, you could easily be paying $110 a month instead. That’s another $360 dollars in your pocket you can put to work making money for you.

In my mind, every dollar saved is a dollar earned. Especially for things like auto insurance which your required to carry if you drive on public roads. The above example is for my auto insurance.

It’s good to note that not all car insurance companies do this- but it’s a common practice and you should check with your insurer to see if you could be saving money.

If you enjoyed this quick tip, please like, share, comment, or subscribe for more free money saving advice and tips!

Bill Gates thinks we need new economic models

Nearly forty years ago Bill Gates, along with Paul Allen, founded Microsoft. Since then Microsoft has been a driving force in the software, enterprise, and IT industries. He’s also one of my personal heroes.

He posted this note on his blog after reading “Capitalism Without Capital” by Jonathan Haskel and Stian Westlake.

Gates points out that the intrusion of software into the industry that was previously driven by tangible goods the world needs to rethink economic models. He points out in the below image of the Supply/Demand model that this is how he was taught the economy worked.

It’s not entirely untrue, but this model doesn’t work for software anymore- because software can be deployed and shared anywhere for little to no cost. Rather than things like cars- which require materials and people to assemble each one. Software is also no longer very transferable- with many companies moving to subscription based models requiring you to log in to the software for access. As such, you can’t sell used software easily anymore. But you could still sell your car.

Regardless… the blog post is great and you should check it out: Gates on Gates Blog

I’m going to check out Capitalism w/o Capital! When I finish it I’m going to post my perspective on it, as I wonder- between job loss and other things- exactly how the worlds economy will evolve in the coming decade.

Source:

Gates on Gates Blog

How to save money on auto insurance with this easy trick!

This simple trick could help you save hundreds of dollars per year!

Most people pay month to month for their auto insurance. You probably do as well… you probably didn’t even know you had another option.

Most car insurance companies will also let you pay your entire insurance bill at a steep 20-30% discount if you do it all at once and not month to month. They don’t advertise this because the can make considerably more when you pay month to month.

That means if you pay $140 a month, you could easily be paying $110 a month instead. That’s another $360 dollars in your pocket you can put to work making money for you.

In my mind, every dollar saved is a dollar earned. Especially for things like auto insurance which your required to carry if you drive on public roads. The above example is for my auto insurance.

It’s good to note that not all car insurance companies do this- but it’s a common practice and you should check with your insurer to see if you could be saving money.

If you enjoyed this quick tip, please like, share, comment, or subscribe for more free money saving advice and tips!