There are no guarantees, but you should put in some work first before making a lot of money. For example, you could read this post and do some research before moving forward.
If that were the case, then everybody would be chilling at the bar together, not worrying about anything because their robot jobs would be providing the income.
Auto-occupations. Heh. I recently made that up. I’m keeping it.
Talking about the logic behind making $50,000 without working is what we are going to do next. But before that, let’s discuss the benefits of getting started with AI writing assistants today.
How to Make Money in Business
The idea of making money with a business is quite simple. You have to provide something that someone wants/needs and they’ll pay you for it.
That’s it.
I know that people have their doubts about the concept, but it’s the execution that they can never seem to get right. Things work great while they’re set up, but it usually doesn’t last.
There are so many other ways to make money other than just providing people with value. One example is investing in stocks, but you need to do something else before you can invest (convert your value into money).
Let’s take a look at how you can make $50,000 a year by working
1. Build a Buttload of Dividend Stocks with a 4% Yield
I know $50,000 seems a little steep. It might be unrealistic for anyone just starting out – but there are multiple ways to slowly work up to that number if you start today. I’m sure it surprises you but our goal is not to force you into anything. We want to provide the best options available and over the long term this will end up being
As long as you have $1.25 million of dividend-paying stocks with a 4% rate, you can have an annual income of $50,000.
The earnings potential with this new money-making method is great – you don’t have to touch the actual stocks and capital growth can work in your favour.
What does all of that mean?
The more money you put into your investments, the higher the return it will give. This is because every year the 4% growth will be working with a larger value.
If you leave your $1,000 worth of stocks untouched for 30 years, you will have made as much as $3,243.40 in the bank. That might not seem like a lot because it’s only when compared to how much was originally invested in the first place (only one thousand dollars). But looking at how little was actually put into things and subsequently, they were.
What would you gain? Put in $10,000 and in 30 years that money would be $32,433.98 and we still have to factor in the potential of an increased stock price.
Many people don’t realize how important compound interest is. Once you let it take advantage of you, it will make your job a lot easier and will help you save more for retirement.
2. Own Rental Properties
People are renting places like crazy today. Why?
With the modern tendency to move every few years, it can be difficult to buy a home. While renting has its advantages, the only way they’re available is if housing availability is high.
If you can manage to keep 10 of those rentals occupied, then you’ll only need to earn $420 per month per unit. That nets you $50,000 without too much effort.
Yes, that is true – owning a rental property does require a certain level of dedication. That is why many people choose to hire professional property managers to take the hassle away and make the most of their investment.
Let’s use the example of a rental property where you barely earn $50,000 a year. If you can cut that tenth property out of your business, you’ll keep all $50k for yourself. That might be enough to get a property manager on board with no rent in your eleventh property for them.
Begin Learning Real Estate Now
If you’re intrigued by the idea of this course, don’t wait any longer and enrol straight away. I recommend doing some research on what real estate entails before diving headfirst into a watching marathon of Property Brothers. Real estate is all about understanding your local neighbourhood and market as well as understanding the costs of running property. You can do this by reading articles.
Crowdfunding Your Investments
If you’re looking for a different way to invest in real estate or find it difficult going at things alone, then sites like Fundrise might be just what you need. You’ll be able to invest with other people who have the same ambition and risk appetite as you do, which can help if things don’t work out as planned.
As an investor, you can contribute to a portfolio of real estate properties by using RealtyShares to meet other investors.
3. Start a Business and Outsource It
The 4-Hour Work Week is a best-selling book by Tim Ferris that teaches readers how to make money by running a business that makes more than it spends, freeing oneself up to do what one wants.
If you think about it, people who own Subways usually have more than one location. They can hire staff to man them at all times so they don’t need to be there full-time themselves.
If this website is making $20,000 a month, but because I also run a couple other sites I am reluctant to manage this one. I found that both myself and the potential editor are in the same boat with time constraints so I am willing to pay up to $5,000 per month for content.
I know a ton of people would.
$15,000 a month sounds good to me! The site will still just be for my personal use, so I won’t have to worry about the lengthy rituals of running an online business.
Your Initial Investment: Time or Money
Some of you might have come here looking for the easy way to make $50,000 a year while doing nothing.
This is true for everything. There is no easy way to do anything, but you may choose to invest time, money, or both in order for your venture to get off the ground.
Many people have the misconception that the solution to their problems is to find even lazier ways of making money. While it’s true that you can make money from survey sites, you won’t be making $50,000 a year through it and it won’t be very passive.
It is a nice lazy way to make money though.
There has never been a better time to make a full-time salary online. If you want to enjoy your work without stressing and with plenty of downtime, you’ll need to put in the upfront work and be patient.
I’m running a ton of different blogs, and it’s really important for me to remember that launching a blog is as easy as signing up for hosting, clicking an icon, and having your WordPress site set up in minutes. But before I could do this, I had to put in a lot of research so the sites would be worthwhile.
I make an honest effort to set out a solid groundwork so when those times that I don’t want to work things are as yet moving along as planned.
