6 Legit Ways to Earn Passive Income

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2 ай бұрын

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Show Description
Of all the things in the financial world that blow my mind, interest has to be at the top of the list. Today, I’ll go over all the different kinds of accounts (from lowest to highest interest rate) that can help you earn free money.
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@caitlynpotter 2 күн бұрын

I am so happy that i made a productive decision about my finances that changed my life forever. I am a single mother and i live in Florida, i bought my second house in September and i hope to retire next year at 40 if all goes well. Thanks to Mrs Elizabeth Messer for helping me achieve this.

@CoreyRoberto3244 2 күн бұрын

Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.

@Coreyrob. 2 күн бұрын

The very first time we tried, we invested $1000 and after a week, we received $7500. That really helped us a lot to pay up our bills.

@FranklinFranklin_ 2 күн бұрын

You trade with Elizabeth Messer too? Wow that woman has been a blessing to me and my family.

@MasonAnderson-tj6ye 2 күн бұрын

I'm new at this, please how can I reach her?

@GeorgeJustice-dt3fz5564 2 күн бұрын

I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much

@naphtaliquisenberry2566 Ай бұрын

For someone like me, EXCELLENT video!!! Thank you!!! ❤

@TShirtAndReeboks 2 ай бұрын

I feel like this is a weird list. Mainly because the way it's worded. A Roth IRA, IRA, and 401k are vehicles to invest, and you can invest in mutual funds including index funds within those accounts. They aren't necessarily completely different. If you open an IRA and just park money in it, it's not doing much for you. You have to choose what you are investing in within your IRA. So, to me, it would make more sense to not have mutual funds (including index funds) on the list separately because they are used in 401ks, IRAs, and other investment accounts. Also, I think CDs should be on the list right after high yield savings accounts.

@edd06001 2 ай бұрын

Anything that has the word "retirement" in it to me is not passive income. Assuming your IRA is not invested in individual stocks, dividends are usually reinvested and reflected on annual returns. Passive Income is anything that can increase cash flow without any labor on your part that you should have instant access to. HYSA, CD's, Dividend Stocks and Bond Interest via Brokerage Accounts are some basic examples. Dave may not like to call Real Estate passive income but you should invest in REIT's and that can effectively yield the same cash flow with no landlord responsibility. Credit Card rewards are technically rebates and Dave hates those but when you put all your needs on a card pay it off on time and reap cash rewards, that can be a hefty passive income stream as well.

@user-yb5bg8im5g 2 ай бұрын

i hear ya. got out of the market 3 years. i did fine, but hated the roller coaster. HYSA? really? i dropped 200 k from my cash out in various cd's at 4.75-5.25 %. guarnteed returns at guaranteed pay out schedules. i take ss in 2 years and i sleep like a baby. let the MARKET, THE ECONOMY, AND THE WORLD DO WHAT THEY WILL. sometimes i wonder if these kids just want to cattle chute us into programs and ''ramsey backed'' FA's that fatten their ''passive income''.

@DJHesterman 2 ай бұрын

Yep as soon as she said the third type of account is a mutual fund I thought, "that's strange because it's not really an account type."

@danielgasner3006 6 күн бұрын

I always love your advice Rachel, I am doing all of these things except the index fund investing which i plan on doing in 6 months when my house is paid off.

@melli-yelli 2 ай бұрын

Vanguard index funds like VTSAX are great, representing the entire US stock market I think the initial entry is 3k so if you can’t afford that you can buy the ETF version VTI which is the same except you don’t need initial 3k, it’s packaged like a single stock unit representing the entire US stock market.

@stop08it 2 ай бұрын

please i'm begging your team, can you please add video chapters to these videos with LISTS? please. For example, when she's talking about Passive Income#1, there's a time stamp right where she starts talking about it that we can jump to. You don't even have to spoil what they are in the chapter titles. It would be super helpful

@zechariahross1444 5 күн бұрын

Dave doesn't take advice from us poor peasants

@john6941 2 ай бұрын

1) Regular savings account. 2) HYSA. 3) Mutual fund. 4) IRA. 5) 401(k) 6) Index fund. Unfortunately, this is the most basic of the basic lists of passive income.

@colemanmonahan6146 Ай бұрын

Thank you for confirming what I thought when reading the title of this video

@chubbyhubby551 Ай бұрын

Thank you for saving me 7 minutes and 44 seconds

@agentsmith1595 23 күн бұрын

This is a weird list. Mutual Fund and Index? Why both?

@user-hh1xr3vl9s 21 күн бұрын

Barely counts as any type of passive income. This is a sad list ...

@FloppedPizzaParty Күн бұрын

Thank you, saving me this 8 minutes

@theundergroundtoysociety 10 күн бұрын

I can't believe I never knew that high yield savings accounts existed. I wish I would have known sooner!

@jenellehills5352 Ай бұрын

Can you do one for Canada?

@bethanyc1647 Ай бұрын

Minimum amount needed to start investing?

@TS-dv3qv Ай бұрын

What’s wrong with placing all money in either Roth IRA and 401K to S&P index mutual funds?

@jasonjakubiak91 Ай бұрын

There are income restrictions for Roth and Traditional IRAs.

@franreidmua1383 2 ай бұрын

Rachel I have a Money market account with my credit union that yields about 5% return. I also have a high yield savings account account at about the same rate of return. Can you help or maybe do a future video on difference between these two or advantage or disadvantages between? They seem very similar return wise… thank you! Love the power of Pink! Great color on you

@RalphieVII Ай бұрын

These days they're basically the same. It used to be that money market came with checks and a debit card, though you were limited on how many withdrawals you could make each month. A savings was tied to your checking account and you would have to call or go to the branch to move money over to checking in order to use it. With online banking and auto transfers now, there really isn't a difference and the Fed got rid of withdrawal limits a couple years ago.

@patrickgoss4729 16 сағат бұрын

The old days, the emergency fund was there ro have for immediate need and interest didn't matter. Now Ramsey Solutions is promoting a HYSA that may take days to transfer funds and are not local. Why the change?

@filausopoako 5 күн бұрын

good and safe ideas

@bowmanjeff8 Ай бұрын

DCU credit union pays 6% on the first thousand

@marcodm 2 ай бұрын

In Canada TFSA is good to save in right?

@kathryntubridypakenham2743 2 ай бұрын

Yes but you have to make investments/savings within that account

@xellosmtlm 2 ай бұрын

Yes, the TFSA is a good vehicle, but you need to be wise in its use. You can have similar dangers with risky investments in this account, so you need to make sure you know what you are doing, but any gains in this account are completely tax free.

@Allthekingshorses2 2 ай бұрын

Yes, i love my TFSA… but yes, invest not just park money in it… open a wealthsimple account and buy index funds.

@xellosmtlm 2 ай бұрын

Given you are adamant against using credit cards, are you comfortable investing in those companies you despise? Should you hold investments in Visa and Mastercard when you disagree ethically and morally with the services they provide? How do you reconcile the conflict?

@xellosmtlm 2 ай бұрын

@@anthonymejia2481you mean they would not invest? Those companies were one the list she presented.

@birdsaloud7590 2 ай бұрын

I have this problem too. I cannot bring myself to invest (support) Vanguard & Black Rock as they are wrecking the country with their greed. Ditto credit card companies and Big Pharma, Big Tech etc.

@birdsaloud7590 2 ай бұрын

what does that mean, 'they would not' ?@@anthonymejia2481

@pmr259 2 ай бұрын

Most people dont pay off credit cards before the billing cycle. 23% interest is a lot. When i was young i was dumb to pay creditcard interest. Now that am older i make money off those credi cards. Until we learn to be disciplined, better not to use credit cards.

@ilovenoodles7483 2 ай бұрын

This is great and all but how do I get a high-yield savings account? Do I just walk into my local credit union and tell them I want to open a high-yield savings account and fill out paperwork and give my information and thenpoof, it's done and I start earning?

@206PinoyLife 2 ай бұрын

Google banks with HYSA. Choose one and open up a savings account. I use Amex. Set up an account and choose where to wire your money from (like your current bank) or direct deposit into that savings account.

@beckygeer6480 2 ай бұрын

Most are online

@RalphieVII Ай бұрын

Ally is paying like 4.25 apy right now

@jasonphung17 2 ай бұрын

Is CDs considered a way of earning passive income ?

@CarlosSalas1111 2 ай бұрын

Yes.

@frankbell1408 Ай бұрын

Fantastic video, thanks for keeping us financially updated. I hit another $32k today day trading all thanks to my Guru

@MichaelCobes Ай бұрын

Wow that's huge, how do you make that much? I'm 37 and have been looking for ways to be successful, please how??

@frankbell1408 Ай бұрын

Ohh yeah, that was possible with the help of my Guru Jenifer Spencer ❤

@frankbell1408 Ай бұрын

She's a licensed broker and entrepreneur from the state

@Tomkirk-su3lw Ай бұрын

That's great!!. I don't know anything about investing and I intend to start. What are your strategies?

@danielhounkanrin3861 Ай бұрын

The best strategy is starting with a professional coach, as a beginner who knows little or nothing in forex market

@lindadorman2869 2 ай бұрын

I never thought I'd be sad to see interest rates go down but I will miss the 5.25% interest on my high yield savings account when the Fed cuts the rates. Had a good run though...

@lindadorman2869 2 ай бұрын

What's the best way for people over 65 to earn passive income after retirement?

@Thebignagro 2 ай бұрын

Onlyfans 😂 lol just kidding, my grandmother does quilting but I think a 4 laddered 1 year cd is not bad right now

@Lourdes-A. 2 ай бұрын

If you have a substantial amount of money that you don’t need right away, a CD is a quick way to earn some monthly income. There are many short term CDs - like a 3 month, or a 6 month - where you don’t tie up your money for a long time. Some banks have also high yield savings accounts, so you can make some money while your money is sitting there.

@Helena-ou8ry 2 ай бұрын

Most advisors recommend 2 years of expenses in cash, and then a 60/40 split of 60 % bonds or CD’s and 40 % riskier investments such as shares

@kalebdoublin2719 2 ай бұрын

Does anyone recommend a specific bank to open a high yield savings account with?

@tidegirl6526 2 ай бұрын

I've been with synchrony for a long time I'm happy with them

@jbeltran8245 2 ай бұрын

Marcus , Sofi

@mwilging 2 ай бұрын

UFB is good. I'm getting 5.25% interest rate

@ML77177 2 ай бұрын

I have Marcus for 2 years. So far so good 🙂

@patygrau8131 2 ай бұрын

Do you recommended CD?

@CarlosSalas1111 2 ай бұрын

It depends on what money you are using. If you’re thinking long term, it’s better to invest in an S&P 500. If it is your emergency fund, it’s best to have it in a high yield savings account, that way you have access to it without penalties. Personally, I don’t love CDs.

@brianhall2525 2 ай бұрын

I like CDs right now with market at all time high. I've been laddering CDs since January with money becoming available each month for next 14 months so I have plenty money to put in market on pullback. I'm not DCAing in market right now with any money outside of small % I'm putting in 401k. I've been buying TLT in tax sheltered account in preps of rate cuts later in year amd been adding to reits like O and vici on big red days.

@CarlosSalas1111 2 ай бұрын

@@brianhall2525you can find a high yield savings account that close to a CD’s rate, without having your money tied up.

@leesh2684 2 ай бұрын

Thanks for your opinion. I needed this.

@jonr9574 2 ай бұрын

my company has a 401k but they do not match. I have maxed my roths every year. should i still be contributing to a 401k

@jakeandsarahhealthnuts3299 2 ай бұрын

If you have extra money it probably would not hurt to contribute to one. It will just be all the more money during retirement.

@KEKrato Ай бұрын

It depends, did you start contributing to your Roth early in life? Is maxing out your Roth 10% of your pay? Is there anything else extra money needs to go to first? (Emergency fund, high interest debt?)

@Megan-gl4zz 2 ай бұрын

Clickbait.

@terrywix6844 2 ай бұрын

IRS is watching you!

@user-cario 2 ай бұрын

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 7k in August 2023...

@essalvadormata4352 2 ай бұрын

How did you do it? Do explain please 😯 My family have been into series of sufferings lately.

@user-cario 2 ай бұрын

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I have heard a lot of wonderful things about Charles lucas on the news but didn't believe it until now. I'm definitely trying him out.

@wrubiox1492 2 ай бұрын

Doubt you made that much so quickly

@Andreasy2 2 ай бұрын

Sure you did, bot.

@kathleenr8839 Ай бұрын

This is not what people mean when they are searching for passive income ideas. I’m looking for passive income TO invest lol

@user-ky9sr4bm1f 2 ай бұрын

You dont need an emerency account just put the money in a money market account then transfer 50 to 75% into high growth shares depending on your situation ! And do this every pay day ! And if you credit card ! Put into that first !

@DennisonBeers Ай бұрын

I wouldn’t do a regular mutual fund

@leisure057blank3 18 күн бұрын

Not unless it’s tax deferred

@livingunashamed4869 2 ай бұрын

HSA!

@Helena-ou8ry 2 ай бұрын

You missed a lot, it can be advisable if you live in an area prone to natural disasters to keep your $1000 in cash. Also if you still have a home loan, having offset accounts to keep your emergency fund and college savings in can “earn “ you more money depending on your interest rate through lowering the amount of interest charged for the loan.

@Foslopac 2 ай бұрын

So never use debt unless you’re the lender and receive interest. Got it.

@gary-gilbert 2 ай бұрын

Where is the 6% High Yield savings account.

@cloudstrife7840 2 ай бұрын

It's offered by the same people that Dave gets his market beating 12% return mutual funds from.

@jdmulloy Ай бұрын

I get a bit over 6% on my first $1000 at the DCU credit union, but it is pretty much impossible to get that rate on more than a limited amount of money.

@CarlosSalas1111 2 ай бұрын

IRAs, Mutual Funds, 401K, are NOT “different ways” to make passive income. They are all the same, only BASKETS where the fruits are placed. You can have all three, and have the same apples in all three, those are NOT different. This is why I dislike “personal finance” advisors having the audacity to give investment advise…

@amadojrarmas135 2 ай бұрын

I trust her and her wealthy team more than whatever a person commenting to this has to say.

@julesgarcia5854 2 ай бұрын

What about CD's?

@leesh2684 2 ай бұрын

Yes I want info / opinions as well.

@drewajer9348 2 ай бұрын

Cruze thy name is click-bait

@RPisa2416 2 ай бұрын

Rachel, c’mon 😂😂😂 we have seen your dad rant over “there’s no such thing as passive income.” Stop the clickbait sheesh

@bring.us.together 2 ай бұрын

Rachel surely isn’t her father. She happens to be smarter than her dad.

@RPisa2416 2 ай бұрын

@@bring.us.together she sure is. She repeats what he says so the money keeps flowing

@user-hh1xr3vl9s 21 күн бұрын

These are hardly considered Passive Income Ideas, a Savings Account ? Give me a break

@trebmaster 2 ай бұрын

Buy businesses and own them but don't be a CEO.

@dominicleong4385 2 ай бұрын

My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to take risks. Saving is great but taking risks puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.

@jasperflontes4289 2 ай бұрын

I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we have,making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Larysa Caba. I now make huge profits by weekly through her services while still learning to stand on my own.

@annddyyy-6920 2 ай бұрын

I have never seen a trader as open and transparent as Larysa Caba with her clients. The way she decides to make a profit for her clients. she allows you to express your fears and she still rests your fears and that is my respect. I don't normally comment on videos, but this word should be included. she is really cool.

@leticiaenraz8514 2 ай бұрын

It's amazing that you got to know her. she has been a blessing to me and my family.

@bigelbow2966 2 ай бұрын

I just looked up her name online. she is licensed with credible certificates and has an amazing track record. Thank you for the message.

@fred5528 2 ай бұрын

It will be really great to know more

@EricMoore790 2 ай бұрын

I started collecting trading cards and then my wife cheated on me.

@whothou 2 ай бұрын

Low quality vid

@wp4310 16 күн бұрын

Awful....

@missymyers7043 2 ай бұрын

$1,000.00 emergency starter fund?!?!?! With todays inflation and the cost of everything through the roof…you might want to have a starter fund of $10,000.00!!!

@jennylhenry78 2 ай бұрын

$1,000 is where to start for those who have zero savings. After that they're to work toward 3 months of savings.