With a will to succeed, a willingness to put in a few hours of research, and just $100, it’s possible for someone to start making passive income. It’s a common misconception that you have to be wealthy and have boatloads of money to have a passive income stream.
Pexels/Tima. It’s possible for someone to start making passive income with just $100
However, according to some financial experts, you can start by as little as $100 and there are multiple avenues that you could take to start making money in your sleep. We asked for the expert opinion of three financial gurus and here’s what they said.
Website Domains
There are a number of reasons why website owners of digital businesses list their apps or website for sale. According to Flippa, one can either sell their website because they are stepping away from their business or looking for a return on their investment.
If you are a website owner or have decided to buy a domain, it is quite easy to make money from it by setting up affiliate links and advertising. This means that you earn a few cents every time someone visits your domain or clicks on a link, with the aggregate monthly check being surprisingly more than one would expect. To see which domains are on sale, you can visit websites such as Newsy.com and Flippa.com, with the latter also giving you the ability to filter websites based on your budget and an estimate of your monthly earnings.
Pexels/Tima. If you don’t have enough capital to own and manage properties of your own, you could invest in a REIT
REITs
REITs or real estate investment trusts are companies that own, manage and finance properties that generate income. According to Vivian Tu, a former Wall Street investor, putting your savings in a REIT might be a smart move on your part.
If you don’t have enough capital to own and manage properties of your own, apps such as Fundrise and Elevate.Money make it possible for you to invest in real estate with limited finances.
Pexels/Monstera. You can invest $100 into a cheap ETF and build up your portfolio over time
“Cheap” ETFs
An ETF or exchange-traded fund is a combination of various stocks and bonds that are amalgamated into a single investment. According to John Stoj, the founder and financial advisor of Verbatim Financial, you can invest $100 into a cheap ETF and build up your portfolio over time by increasing your investment every chance you get.
Although returns on your investment in the stock market are neither guaranteed nor predictable, the average stock market returns over the past ten years stand at 9.2%. If you do indeed plan on investing in the stock market, experts recommend that you set up an emergency fund that could sustain you for three to six months in case of any unforeseen incident.
