Nowadays, many people dream of reaching financial success without having to slog through a nine-to-five job. The idea of passive income is slowly gaining traction, and with some dedication and hard work, it’s definitely achievable. Here, we outline how you can make over $10k/mo in passive income by 2023.
Start Small, Think Big
Setting a lofty goal like generating $10k in passive income isn’t easy, but it’s definitely possible. However, it’s important to start small and think big. Try to find ways to earn a little extra money each month, then slowly increase your profits over time.
For example, if you want to get into real estate, focus on finding one or two rental homes first. Start out with a small down payment and scale up your investments as you go. Alternatively, you could look for stocks that pay dividends or look into bonds, mutual funds, and other opportunities.
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