Learning Resources
Hot Search | VI Learning Resources | VI
Hot Search

16 Sep 2021

3 Tips to Make $1,000 Passive Income per Month

Make $1000 Passive Income per Month | VI
(c) Sadie Xiao

The search for the holy grail is over in investing. We all know it’s called “passive income” -- the money you get without exerting much daily effort. But you’re mistaken if you think you’ll get $1,000 passive income per month without any action.

Passive income is like a seed. You have to plant and take care of it until it grows. Only then should you expect it to bear the fruits you’re craving for.

Most retail investors in Asia, specifically in Singapore and Malaysia, are not really interested in amassing huge amounts of wealth but are more focused on cash flow. This means they invest for the sake of generating cash returns to feed their families.

With passive income comes financial freedom as well as the ability to make choices on how you want to spend your time unchained to money. Most people will scoff at this, thinking it to be a far-fetched dream.

But put aside your pessimism. Getting at least $1,000 passive income per month from investing is possible. Most investors in the VI Community have been receiving stable returns even higher than $1,000.

See also: Yes, investing will make you rich!

The search for the holy grail of investing is no longer a mystery. Many investors know how to find it. And so, we won’t keep it a secret either.

Here are our three tips for you to get passive income whether you’re in Malaysia, Taiwan, Singapore, or Australia.

Learn to invest

By investing, it does not mean pouring your hard-earned money into scams like Ponzi schemes or weird alternative investments that no one has any inkling about. Learn to invest properly in legitimate instruments, like bonds, shares, and properties.

A sound piece of advice is to take things into your own hands and manage your own portfolio because no one will make better decisions for yourself than you.

Real investment profits can be made if you invest with the right knowledge. Most of the horror stories you hear are usually from over-greedy people armed with a lack of knowledge and skills.

Learn to save

While some have high paying jobs, there is still the possibility that they are bankrupt because of credit card debts. This is because their expenses exceed their income. For example, even if you have a job that pays you $30,000 a month, you are still a pauper if you spend $31,000 a month.

In short, learn to save, track your expenses, and dedicate at least 30% of your salary to saving up and investing.

See also: I'm a parent. Is investing for me?

Learn to generate even more income

There are lots of naysayers saying that there is no way to earn more money, that it’s difficult and almost impossible. The fact is, it’s never been easier to create more streams of income in this day and age of the internet.

You can find a part-time job, set up an online business, become an Amazon retailer, offer your services on freelancing platforms, rent your extra room, or invest in dividend stocks.

The sky is the limit in our connected world! Then with multiple streams of income, pump the extra cash you generate into building a portfolio and multiplying it.

With all these tips, notice one common keyword – LEARN.

Learning is always the first step. You can’t grow a seed without making sure you have a suitable pot, good soil, the right amount of water, and good exposure to sunlight. If you have all these settled, your plant can grow faster.

Want to start growing your seed? Join our free online masterclasses on how to create passive income for families.


Disclaimer

No income guarantee or promises of any type are being made in this article. Know that your results will vary due to circumstances that are outside of our control. The author and the company do not warrant, guarantee, or make any representations about the use or results of the use of the products, programmes, services, and resources mentioned in this article. The reader, thus, agrees that the author and the company are not responsible for the success or failure of readers’ investment and business decisions relating to any information provided herewith.