Right now I am running two blog, thexking.com androtogrip.org. those are the blogs that I run right now. The reason I built these sites was I wanted some passive income and wanted to build online assets. I wanted to build more sources of income rather than my job. Have just one income source is not good cause if something happens to that job, you don’t have any money coming in. I also run two YouTube channels as well for the same reason, wanted to build different income streams. While I ran things online assets and build them up with content, I am always looking for more ways to make more passive income. I Already use cash back apps for passive income so I was buying stocks 7 months ago, (I only brought a few stocks) but I didn’t know about them until now. I am learning about dividend stocks and how it can bring you passive income. So right now I am building up 5 incomes streams that will produce money for me and my family and I wished I had learned this before. I made a plan for dividend paying stocks and how to build an passive income that anyone can do and you can build over time. Right now I am using the Robinhood app for buying stocks and if you would like to join Robinhood you can click here and below this post I will have all the links that I use to build income streams while working full time.
Buying dividend paying stocks for passive income:
First off I am not a CPA or stock broker or an expert at stocks or anything dealing with money .I am just telling you what I am doing with me so please do your own research before buying any stocks or building anything online. With that being said dividend paying stocks are a great way to make passive income. You get paid a small dividend just for owning I share of a company. I think one problem with these types of stocks is that most company’s pay every quarter which is every 3 months. Waiting 3 months for money is a long time to wait for anyone.
There are stocks that pay monthly. Most of them are REIt’s but some company do pay monthly. there are some cheap stocks where you may pay $10 for one stocks but that stocks pays a monthly dividend and I will list the stocks that I buy for the income stream. So with monthly dividend paying stocks you want to have different stocks so you can stock diversification. So after taking a look at my current income right now and me wanting to build this stream of income fast, I made a plan that you can yourself.
The path I want to go is I will find 20 monthly paying stocks and ETF total and take one of those stocks and buy enough of that one stock to make me $1. So I may buy 12 share or less of one of my 20 stocks that I picked. So doing the math if I have 20 stocks and I buy enough shares of each stock and ETF to $1 dollar each well I will be making $20 bucks per month. I know that is not a lot of money but my goal is to make $50 bucks per month with dividend paying stocks. Again that’s not a lot of money but I really wanted to build another stream of income. And now I know what to do, I can just buy stocks and increase that monthly income. The problem that I have with some YouTube is with the stock market they invest 4 to 5k into stocks which I don’t have that type of money and a lot of people don’t have a lot of money to invest.
Just like blogging takes a long time to get traffic, if you don’t have a lot of money, buying stocks will take a while to get where you are making a lot of money. So I am going with the slow and steady way where when I get paid from my job, I will take maybe 50 to 100 dollars out just for stocks. So I would focus one my stock or ETF, buying enough shares until it reaches $1 then after it hit the $1 dollar than I will move on to the next stock on my list. So I not spending all of my money, I can build another stream of income that does not take a lot of time, over time dividend paying stocks increase their payout to stockholders, the stock should go up in value.
The goal here is to build something outside of my job that will make money. Just think, if I can make $10 bucks from doing this, what’s stopping me from getting $50 to 100 dollars per month? Nothing is and the cool part is that I am building my 2 blogs, my 2 YouTube channels, so I don’t mind that it may take a while but If I stay consistent putting in the work, time and money I will win at the end of the day.
Just think if my YouTube channel bring in $300 per month, my blogs brings in $100 per month and my stocks bring in $100 bucks per month, that’s $500 per month passive income. So I lose my job, I don’t have to panic, I will make some income to pay some bills. But while I have a job I will build all of my online assets and my stocks. I use the Robinhood app for my stocks, if you would to join, you can click here:
Below is a list of my Stocks that I will buy to build passive monthly income, the prices will change by the time you read this post. Make sure that you do your own research before any stocks below or any stocks in general. Here’s the ticker symbol:
ORC
PSEC
CPTA
WSR
DX
APLE
CLNC
SDIV
AGNC
DIV
