Introduction
Passive income is the foundation of financial independence. With this 7-day plan, you’ll begin creating multiple income streams and set up a portfolio that grows over time.
Day 1: Define Income Goals
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Calculate monthly expenses (e.g., $3,000). Use the 4% rule to estimate needed portfolio size ($3,000 × 25 = $75,000).
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Action: Write down your monthly target (e.g., $3,000) and timeline (e.g., 5 years).
Day 2: Open Investment Accounts
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Open a Vanguard or Fidelity brokerage account.
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Action: Deposit $500–$1,000 to begin.
Day 3: Research Dividend ETFs
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Explore low-cost ETFs like VYM (Vanguard High Dividend Yield).
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Action: Spend 1 hour researching and invest $500.
Day 4: Explore Real Estate Crowdfunding
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Try platforms like Fundrise for real estate investing with low minimums.
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Action: Start with a $100 eREIT investment.
Day 5: Set Up Automation
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Automate regular contributions (e.g., $200 to ETFs, $50 to Fundrise).
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Action: Schedule your transfers for payday.
Day 6: Diversify with Peer-to-Peer Lending
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Use Prosper for consumer loan investments offering 5–7% returns.
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Action: Invest $50 split across 10 small loans.
Day 7: Monitor and Rebalance
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Track with Personal Capital and rebalance quarterly.
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Action: Add a 3-month reminder to review progress.
Outcome: A diversified, beginner-friendly income portfolio producing $50–$100 monthly with room to grow.
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