$1K monthly passive income, these 10 methods are the most practical

Want financial freedom? Start by earning $1000 a month. Financial lawyer Erika Kullberg has compiled the 10 most reliable ways:

The two most stable:

• Dividend stocks + REITs: Invest $140K to earn an annualized 9% and make over $1K monthly, provided you find stable targets (platforms like Vanguard and Fidelity can help filter).
• P2P Lending + Crowdfunding: Annualized 5-10%, invest while accumulating

Zero Cost Start:

• Create eBooks/online courses/printables and sell them repeatedly after uploading to Amazon/Udemy/Etsy.
• YouTube channel/blog/newsletter + affiliate marketing: initially rely entirely on content quality

Other options: rental properties, rental vehicles, storage space rental, etc., but all require time to set up.

Key Reminder: Each method requires initial effort, but once it gets running, it becomes truly passive. Also, remember to pay taxes; different types of income have different tax rates, but you can reduce the tax burden through deductions like depreciation.

The core logic is to choose a channel that can compound returns, persistently reinvesting the earnings, until the quantitative change leads to a qualitative change.