Got $1,000? Here's How to Turn That Into a Passive Income Stream in 2023
The old saying it takes money to make money is true for passive income. While there are some ways to make passive income without an upfront investment, these options either require lots of time and effort or that you take on a lot of risks. For those without the time and a high-risk tolerance, the easiest way to start collecting passive income is to invest some of your active earnings into an income-producing investment.
There are lots of ways to do this. Here are three strategies to turn $1,000 into a passive income stream this year.
The Federal Reserve made many passive-income opportunities more attractive by raising interest rates last year. For example, the rates on bank CDs have risen sharply, with some of the best CD rates currently over 4%.
Source Fool.com
