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Whether you’re looking best way to make passive income, build a portfolio, or make some extra cash, there are many different ways to make passive income. Some of the most popular are:

Investing in stocks is a great way to generate passive income. Dividend stocks will pay you a regular stream of cash, while also increasing in value over time. You may have to pay a small premium to lock in your investment, but the money you earn will be there when you need it.

Is passive income taxable?

If you’re willing to put in the work, starting a blog can be a good source of passive income. You don’t need to be a great designer to create a nice looking website, and you don’t have to hire a programmer to build your site either.

Another popular passive income strategy is buying a rental property. You can rent out a room, or you can buy a duplex or triplex to rent out to tenants. The amount of work you’ll need to do will depend on the size of the rental property.

For a more hands-off approach, consider exchange-traded funds (ETFs). ETFs are like a basket of assets, and they can diversify your investments. This will mitigate risk and maximize your returns.

Aside from ETFs, you can also invest in a high-yield savings account. This can be a reliable source of income, but you’ll need to do your research before making any financial decisions. You’ll want to choose one that offers a decent rate of interest, but you’ll also want to check the fees and risks associated with the savings account.

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