Earn A Passive Income With Only $200

What is passive income? Passive income, by definition, is income that requires little to no effort to earn and maintain. Basically, that means you get paid without doing any work, or doing very little. Sounds like a dream right? Well, it's a reality. You may have heard of rich people who "invest" or "buy stocks" and cashing out big profits, but not all of us have the extra money laying around to drop $10,000. Gee, most of us couldn't even afford to drop $500 to get started. I certainly didn't!

Not to worry, I have found out how to make a passive income, without investing thousands of dollars just to get started. Hear me out, this won't be a get-rich-quick overnight scheme. And you won't be able to quit your 9-5 just yet. But depending on your input, you could quit your job in a few years, or simply enjoy a steady income after you retire.

To start with $200, and forget about it, read this:

For me, I came upon a sum of money... Okay, it was my income tax refund. I had $200 extra laying around after using the majority to put new tires on my car. I wanted to invest, to start getting paid for the money I had sitting in my savings account anyways. That's when I came across Lending Loop. It is essentially a crowd funding site that allows businesses to borrow money. So what this means is, anyone who wishes to take part lends the company a minimum of $25.00 (CAD) until the required amount is met. Then this money is lent to the company, who pays everyone interest for the borrowed funds. There is a small chance that the loan will default, however there is a strong screening process that decreases this chance. You can get paid anywhere's between 8% and 26% interest on your money, based on what risks you are comfortable with. The average return rate is about 12% annually. With auto-invest this money is loaned in to another business, and grows all on its own. Here is an example of how your money can grow with Lending Loop:

Initial Investment: $200.00

After 1 Year: $224.00

After 5 Years: $352.00

After 10 Years: $621.00

After 20 Years: $1,929.00

After 50 Years: $57,800.00

To start with $200, and then $100/year after that, read this:

This is the start to a GREAT retirement plan. However, if you are saving up for something special, or perhaps want to quit your 9-5 and have a decent income sooner, you could deposit $100 per year and watch the return build even faster, like this:

Initial Investment: $200.00 + $100 per year thereafter

After 1 Year: $224.00

After 5 Years: $830.00

After 10 Years: $2,098.00

After 20 Years: $8,273.00

After 42 Years: $109,358.00 - Enough to withdraw $1,000.00 per month for the rest of your life, without losing the money already in the account.

To start with $200, and then $100/month after that, read this:

This last example is the fast-track, however it will require a bit more input on your part. If you can manage to deposit $100.00 per month, here's what would happen with your money:

After 1 Year: $224.00

After 5 Years: $6,087.00

After 10 Years: $18,351.00

After 22 Years: $100,458.00 - Again, enough to withdraw $1,000.00 per month for the rest of your life, without losing the money already in the account.

Now, depending on your expenses, $1,000.00/month may not be enough for you, but it gives you an idea.

If you want a tutorial on how to navigate on Lending Loop, drop a comment and I'll create a guide!

*Just a side note, if you do go this route, don't forget to turn off Auto Lend once you hit the $100,000 (or more/less, depending on how much you wish to withdraw every month).*