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If you want to earn passive income, its best to start small.
Even an extra $1,000 a month can set you on the path to financial freedom.
But what exactly should you do to earn at least $1,000 a month in passive income?
And what are your options?
Here are some ways tostart earning money through passive income.
By regular contributions and dividend reinvestment, youll increase your passive income over time.
Say you want to get started with REITs, for example.
Investonly an amountyoure comfortable with.
When theyre made, these can be sold again and again withoutmuch additional work.
As for getting started, youve got options.
Take peer-to-peer lending as an example.
According toFinancial Poise, many peer-to-peer loans see returns of 5% to 9% a year.
Some investors have reported earning upward of 10% a year.
Keep in mind that each of these options takes time to set up.
The good news is that you dont always need money to make money.
Youll also generally need to pay taxes on passive income.
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