March 11, 2024
Question:
There are so many articles lately about people with side hustles. What is the best way for me to earn extra money without having a side hustle or a 2nd job?
Answer:
We’ve all heard the latest Gen Zer with a “side hustle” or someone who earns “x” thousand a month in “passive income”. I wonder how people manage multiple “hustles” or is this just the financial media trying to make the rest of us feel somehow inadequate.
Then I got to thinking what the best way is for the “rest of us” to generate passive income.
Though not as “clickbaity” as side hustles, generating dividend income from equities is the best way I know of to generate passive income. Many stocks of larger companies especially those in the S&P 500 pay annual dividends to shareholders. Not only can you benefit from potential price appreciation - many companies will pay you to hold their shares in the form of dividends.
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