Syda_Productions / Depositphotos If you want to build wealth, you’ll need to earn money while you sleep. The only way to do this? Generate passive income .
Sadly, passive income can seem overwhelming, since it often takes a lot of hard work or money upfront. The good news is that you can create extra income while you’re not working with the help of passive income apps.
For those looking to make extra money without spending all of their time on side hustles, here are 25 passive income apps to download.
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1. Fundrise
You can’t use Fundrise to earn cash back, receive loyalty rewards, save money on expenses, or play games. Rather, Fundrise is a crowdfunding platform you can use to invest in real estate .
With Fundrise, you can build wealth with real estate investment portfolios that are carefully selected and proactively managed. It’s one of the best apps to help you get financially independent.
Fundrise lets you invest in large real estate projects without owning the entire property. If you want to diversify your portfolio and not have all your money tied up in one investment, you can invest a little bit in several projects.
Throughout your portfolio, Fundrise keeps you updated about the progress of each project you invest in.
The iPhone app offers all the features available on the desktop platform, making the investment platform convenient to use. As a result of this accessibility, you can keep track of your real estate investments from anywhere you are.
It is necessary to be an accredited investor to invest in some real estate crowdfunding apps. Fundrise does, however, offer some products that are available to non-accredited investors.
As a Fundrise user, you can receive dividends from your real estate investing. And, you can start with as little as $10.
The company offers a “dividend reinvestment program” if you do not need the money and wish to leave the funds on the platform. 2. HappyNest
As an alternative to Fundrise, HappyNest also offers real estate investments. Investing in commercial real estate with HappyNest REITs costs only $10, so you don’t need to save up for a down payment.
The unique feature of this passive income app is that it allows you to passively invest your money without any effort on your part. Your HappyNest account will round up every purchase to the nearest dollar if you link a debit or credit card. As an example, the app will round up a $4.25 purchase to $5 and set aside $0.75 to purchase additional shares. 3. Public.com
With Public , you can trade commission-free. Unlike other micro-investing apps, Public lets you connect with thought leaders within the app so you can learn about investing.
With themed-stock bundles and fractional shares, it is possible to invest in well-known companies. And, you don’t need a minimum account to get started.
Public lets you invest weekly, biweekly, or monthly, or buy lump sums periodically. There are also these asset classes you can invest in: Stocks ETFs Crypto Contemporary art Music royalties Luxury goods 4. Acorns Not sure where to begin investing?Using Acorns , you can earn passive income by having professional financial experts decide where your money should be invested for you.Rather than one risk level, you can choose from five different ones. Generally, young investors who aren’t heavily in debt should consider an aggressive style of investing.If you’re looking for a mobile app that does almost all of the investing for you, this is a viable option.The spare change option is my favorite part of this app.Your Acorns account will automatically round up any purchases made with your credit card if you link it.In your account, you will receive the difference between the actual purchase price and the amount spent with your card.And, it only costs you $3 per month to invest in funds vetted by experts. 5. M1 Finance The goal of M1 Finance is to help you create passive income from your savings by helping you build your investment portfolio . The program enables you to find the best ways to generate passive income through automated investing tools. Plus, you’ll […]
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