Whether you take a “distribution” (aka free-cash-flow) in the form of a dividend, interest payment, capital gain, maturing ladder of a CD, etc, you are still taking the same amount of cash out of your portfolio. Don’t fall for the trap of sub optimizing your overall portfolio’s performance because your chasing some unimportant trait called “income”.
There is a specific tax definition of passive income, known as “passive activity” to the Internal Revenue Service. Passive income is any income you make without actively working or are materially involved. The IRS defines it as any rental activity or any business in which the taxpayer does not “materially participate.” Nonpassive activities, or active activities, are businesses in which the taxpayer works on a regular, continuous, and substantial basis.
If you have an empty room, unused apartment or vacant in-law suite, consider renting it out on Airbnb or another vacation rental site. Tourists will book your accommodations through the site, and you'll pocket a portion of the rental fee. Before you rent, however, make sure you understand any rules or regulations in your municipality, restrictions from your landlord and gaps in your insurance.
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The first step is to get your domain. For the loooongest time ever, my blog was known as senseofcents.blogspot.com. I finally bought www.makingsenseofcents.com and haven’t looked back since. I don’t think anyone has ever said “I regret buying my domain and looking more professional.” If you sign up using my Bluehost link, then you will receive your domain for free.
Now I’ve been using Swagbucks for a while and have found the money works out to just under $2 an hour so this isn’t something that’s going to make you rich. You’d have to work 2,500 hours to make $5,000 so that’s about three and a half months, non-stop. The thing with Swagbucks though is you can do it when you’re doing something else so I flip through surveys and other stuff while I’m cooking dinner or flipping channels.
This is one of my investments. It’s a very simple index fund. Took about 5 minutes to set up and it automatically withdraws from my bank account each month. Spend five minutes couponing and you’ll save a few bucks. Spend 5 minutes setting up an index fund and you’re likely to build substantial wealth over time if you invest consistently and don’t pull your money out with every little fluctuation in the market.
The much loved model for bloggers and content creators everywhere and for a good reason…it’s pretty easy to write a 60-80 page ebook, not hard to sell say $500 worth a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of the pie after paying affiliates. Hells yeah! Continue reading >
Using a food delivery service can’t necessarily earn you money, but it can help you save you money if you constantly find yourself throwing out half the food you buy. Food delivery services send a box of food every week with new, sometimes unique vegetables, meat, fruit, and so on. If you don’t have time to shop and want simple meal-prep that leads to a good meal, a food subscription service may be perfect for you.