The Ultimate Guide To Passive Income Ideas In South Korea

But , there are a couple ways that you can begin earning right away virtually no attempt required!Related: 16 Fun Hobbies Which Can Make You Money1. Get Cash Back for Shopping You Already DoIf you already do a portion of your shopping online, you could be missing out on some simple passive income just by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5percent on purchases you make.

For example, a card can offer 2% cash back on gas and groceries and 1% on all other purchases.Many cash back credit cards also supply sign-up bonuses. For these programs, youll generally need to spend a predetermined amount within the first 60 to 90 days of opening your account in order to be eligible for the bonus.But bear in mind, these offers are only beneficial if you pay off your credit card balance each month.

Passive Income In South Korea - Passive Income Ideas Things To Know Before You Buy

Put Your Car to Work for YouThink of how often your car sits around not being used while youre traveling, on vacation, or even during your normal workday.You have just two options: 1) Let your car sit around and depreciate, or 2) Use it to create some passive income.Rent Your Automobile Using GetaroundWith Getaround, as an example, you can potentially make thousands of dollars per year by renting your car to other people while youre not using it.

By renting your car using Getaround, you can make some (if not all) of that money back.As a Getaround automobile owner, you become dedicated parking in the best places in town, a $50 monthly driving credit to rent anything you like, and $1 million in primary insurance coverage.To take advantage of the passive income opportunity, youll need to create a free Getaround account.

According to their website, drivers can make $400+ per month.In order to begin, youll need to download the program and track your driving. Once you meet the minimum qualifications, youll be notified when a campaign is available in your area.Take your car in to be wrapped, then start earning passive income with the driving you do.3.

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In reality, consider yourself lucky if you earn anything in any way! Luckily, online banks have burst onto the scene with some very enticing interest rates. Higher interest more money you make off your savings.Here are just two online savings accounts thatll generate residual income:CIT Bank  I recently awakened my Bank of America account, that was actually charging me to hold my money, and gave CIT Bank a try.Now, for a 1.55% return.

Granted, Im not going to get rich off this investment, but its free money. And since there are no monthly fees, I consider CIT Bank a dual win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive prices on their savings accounts. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and charges, so you cant really go that wrong using any one of these.

In reality, the vast majority of millionaires over the previous two centuries have attained their status, at least in part, from investing in actual estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a couple of different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  when you have an additional $500 laying around, you can now invest in real estate via a Starter Portfolio out of Fundrise.

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In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you get to decide on an investment plan based on your financial objectives. They have plans that produce residual income, diversification or long-term growth. Heres our complete Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve must add an extra zero to begin.

Instead of relying on the performance of the entire portfolio, then you can do better (or worse).Whether you choose to invest in only one of those modern REITs or keep in mind that since theyre private funds and not shares, you wont have the ability to readily liquidate your investment and get this your money right away.

However, youll most likely still receive monthly or quarterly payments, depending on which investment opportunity you select.6. Buy your first investment propertyRoofstock  Investing in rental properties is one of those passive income ideas that can be extremely intimidating, especially when it comes to finding tenants. Roofstock enables you to purchase properties with as few as 20% down which currently have tenants living in them.