19 smart ways to start making passive income right now

Those who achieve financial independence will tell you that having multiple streams of income from different sources is the key.

Passive income means income from something that requires no (or little) work. Most passive income ideas need you to put in a LOT of work.

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Passive real estate investing

The thing I love about companies like DiversyFund is that they don’t make money unless the investors make money since they invest and manage the projects themselves.

Open a high-interest savings account

If you are afraid of investing, there’s a chance you have a decent chunk of change saved in a checking or savings account. Saving money is always a good thing.

Invest in dividend stocks

Dividends are profits paid out to owners of stocks. Some companies pay dividends on a regular schedule, which means it can become a dependable source of income.

Earn passive income with lending club

Lending Club allows investors to diversify their assets by investing in different types of loans.

Put your real estate to work

Owning real estate is a great way to turn your home into income. Consider renting it out for extra income.