Here's How I Make $540 Every Year in Passive Income With No Risk

Everyone should have at least 1 passive income stream in 2023 because it is essential in the 21st century. With inflation looming over the United States, the cost of living rising, and economic recessions rebounding, having only one source of income is almost impossible to survive on.

Even though this method doesn't yield a massive amount of income, the advantages of it are that it takes no time out of your day to make money, there's no risk, and everyone can make money online through this passive income stream.

Does this method really take no time to make money from it?

Yes. The only time you'll have to spend is 5 minutes once to open a savings account at a bank. If you already have a savings account at your bank, then you're ready to start making some money through this passive income stream.

Unlike other methods of making passive income, this method takes zero hours, zero minutes, and zero seconds to maintain and make money from. It's the ultimate passive income stream for anyone looking to start making passive income.

There's no risk? How is that possible?

This passive income method uses a savings account, which is one of the safest ways to earn money. Savings accounts earn dividends for the owners that the bank provides monthly. With enough money deposited into a savings account and a good enough interest rate, anyone can make tens, hundreds, and up to thousands of dollars a year.

Other methods of making money passively through passive income streams can be risky, which deters individuals from wanting to try them out. With this passive income method, anyone can benefit from it, and it will never cause them to end up losing the money that they put into it to earn passive income.

If you're enjoying this article so far and it has been worth your time to read it, please consider giving it a like, writing your thoughts down in the comments, and/or following my page to see future articles that will spark your interest and provide you with invaluable information for free. I put a great deal of thought and time into writing high-quality articles for you to read for free, so your support is enough for me to continue my writing. Thank you!

Everyone can make money online through this passive income stream?

Yes. Anyone can open a savings account at a bank and put some money into their account that will earn them interest monthly. Even with a low balance, individuals can still make up to a hundred dollars per year by getting at least $8.33 per month. Sounds pretty easy, right?

As long as individuals with savings accounts don't take money out of their accounts to be spent, the money inside their accounts will continue growing monthly from dividends. Anyone can make money from this passive income stream, even people who work long hours every day and don't have time when they come back from work to work on a passive income method.

In addition, this passive income method can be done from the comfort of one's home simply by opening a savings account on their bank's online website and depositing some money that will stay in the account and earn passive income.

This is how I make $540 every year in passive income with no risk

I make around $45 or more every month in total from my savings accounts. $45 for 12 months comes to a total of $540 annually. That's half a thousand dollars I make from doing nothing. I just keep my money in those savings accounts, and it earns me money while I'm sleeping, working, or doing anything else.

This is only one of my passive income methods, but out of all the passive income streams I have working for me, this one is the easiest to make money from because it requires no time to manage, it was easy for me to set up, and there's no risk attached to it as it costs me nothing to continue earning money from and it is impossible for me to lose money with this passive income method.

Here are my dividend screenshots for evidence:

These three dividends sum up to a total of $43.48 that I earned in one month. This amount is around $45, which means that as I continue earning passive income monthly from my savings accounts, I'll end up making $540 extra this year without any extra work, or risk, and anyone else could do the same thing I'm doing and make some passive income too.

Five hundred and forty dollars per year is a crazy amount to earn from doing nothing, in my opinion. I could buy a phone, a cheap laptop, or even a PS5 to play video games on in my free time, which my passive income stream buys for me!

One fantastic advantage of this passive income stream is that the money an individual earns from their savings accounts accumulates and compounds upon itself. Someone can have $1,000 in their savings account, and if, for example, their savings account earns them $5 per month, that's $60 per year, and the money in that account continues growing as long as that individual does not withdraw the funds inside the savings account to be spent instead of continuing to earn passive income. Other methods of making passive income might not grow the amount earned monthly through compounding.

While this is the amount that I make per year from savings account dividends, it won't be guaranteed for every individual that earns dividends from their savings accounts. The amount of income that people can earn from savings account dividends depends on how much money they have in the account accumulating monthly.

Earning passive income from savings accounts is a remarkable way to earn passive income that not enough people have talked about.

If you enjoyed reading this article, consider subscribing to my free Substack newsletter to read more!

This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any major financial decisions.

If you have any specific topics you would like to read about in a future article, feel free to write a comment to me and I'll write an in-depth and high-quality article for you as soon as possible!