The real question is what are you going to invest in to make that much money? You can do real estate and rentals to make that kind of money but some people don’t want to take that risk. There is risk in anything that you do. So the one thing you could invest in a make $3000 per month is something that I have been talking about for while now an that is the stock market. You want to invest to make some money and I am sure you want to make that money passively without you having to work for it.
I believe in buying dividend paying stock can help you reach your goals but they will take time. The reason I picked the stock market is cause anyone can start buying stocks and anyone can do research on a company that they want to invest in. The company will work to make money and they will pay you based on how many shares you have in that company. Always before buying any stock, please do your own homework and research before doing anything in the stock market. I am not a stock expert and I am just giving my thoughts on the stock market.
My goal right now is to build passive income with dividend paying stocks and I want to make $500 bucks per month. I feel that $500 per month is not a lot of money but, that money can pay the light bill, the water bill and the phone bill so I want my assets to pay my bills and the money that I would have used to pay those bills can go somewhere else. I use robinhood for my stock broker and if you want to check them out you can click here.
How much money do i need to invest to make $3,000 a month?
Well this question will be answer with using the stock market. How much money will you need and how many stock will you need to make $3000 per month? Frist off I will be using Main street capital stock ticker symbol MAIN, for this example. Right now you will need about 15,000 shares of main street capital and that will cost you $454,2000 dollars at the time of me writing this blog post. Now that’s a lot of money.
Now that’s just investing into one stock. You could find some cheaper stocks to get. Now you can buy house and rent them out as well as buying stocks. The stock is different cause you can just buy a few shares or spend a few dollars buying stocks. Now in renting houses I don’t know cause every house is different. That is something that you need to research.
Lets try one more stock called CLM, which is my favorite stock right now. In order to get $3000 per month you will need 17,000 shares and that will cost you $1,919,3000 dollars, wow. Now you see why I wanted to do $500 per month. That is easier to get to but keep in mind that once you start getting dividends you can reinvest that money back into the stock market.
It will cost money in way you look at it but this is why I have always talked about lowering you bills and cutting out things you don’t need. Instead of paying someone to cut your grass, you can cut your grass yourself and save money. Start using cash back apps to get some money back. Start yourself a YouTube channel and start making videos. Start yourself a blog to make money online.
That’s what I do now, I run two different blogs, I invest into the stock market to make that $500 per month passive income and I run 3 different YouTube channels. All have to do is build all of things up to replace my job income. I also drive for Uber on the weekends and right now my wife and I are trying to pay off your home. Paying off our home will take 5 to 6 years of we can keep paying more money.
Just thing in say 5 years, our house will be paid off, my stocks by that time will be making $500 per month. My blog will be making money, my YouTube channels will be making money. Those are my goals and if you want to invest to make $3000 per month, you will need a plan and working on that everyday. As of right now I am posting one new blog post per day.
