This 34-year-old makes more than $5,100 a month in passive income—here's how she got started (2024)

In 2015, at age 26, I was laid off from my six-figure job as a copywriter. It felt like a major setback at the time. But looking back, it was the motivation I needed to become my own boss.

Immediately after my layoff, I was asked to be a bridesmaid for two weddings. But rather than feeling stressed, I saw an opportunity. I had been a bridesmaid almost a dozen times before, and not only did I enjoy it, I was also good at it.

So I posted a bridesmaid service ad on Craigslist — and received over 300 inquiries. Some people had close friends who couldn't make their wedding day, others didn't need a full-service wedding planner, but wanted some help planning logistics.

That's how Bridesmaid for Hire was born in 2015. After serving more than 125 weddings, I've been able to use my brand to create three passive income streams that generate more than $5,100 a month.

Here's a closer look at each of the income streams:

1. Sharing products I love

Passive income earnings: $3,000 a month

I have been blogging about wedding planning since 2011. I love sharing behind-the-scenes looks at my life and business with my 100,000 social media followers and 40,000 newsletter subscribers.

Last year, after talking to some influencer friends, I started a new income stream making money as a brand affiliate through platforms like Amazon Affiliate Program and RewardStyle.

How it works is that I share products — jewelry, dresses, shoes, purses, makeup and beauty products — that I would wear to a wedding on social media, my website and weekly newsletters. Each time someone clicks on the link and makes a purchase, I earn a percentage of the sales.

I spend about 20 minutes each week searching for products and creating content around them. I keep a running list of items I actually use and enjoy.

3. Creating online courses

Passive income earnings: $2,000 a month

In 2017, I created my first course to teach people how to start a wedding business. During the pandemic, I released other courses on personal branding, public speaking and how to get unstuck in your career. Now I offer a total of five online courses.

When developing a new course, I think about the areas that I am an expert in, and I ask my audience what they are most interested in. I typically do this by sending them surveys and polls, either on social media or through my newsletter.

Putting together the framework of the course can take anywhere from a few weeks to a few months, depending on how in-depth I go. I use iMovie or CapCut on my phone to film and edit the course videos.

I also use an email marketing platform called FloDesk that costs $228 a year, and a hosting platform called Thinkific that costs $948 a year.

3. Writing eBooks

Monthly passive income earnings: $100 a month

I have written three books. My first, "All My Friends Are Engaged," is about what inspired my business. "Always a Bridesmaid for Hire" is about my experience growing my company, and "Finally the Bride," is about what I learned from planning my own wedding.

"All My Friends Are Engaged," was released through an online publisher. I worked with a traditional publishing company in 2018 for "Always a Bridesmaid for Hire," which paid me a flat fee to write it, and I don't earn royalties from any sales.

With "Finally the Bride," I wanted to take more ownership of the process. I released a new chapter every month (a traditional publisher wouldn't have been able to support that), and I get to keep 100% of the profits.

I use a free platform like Reedsy to format the book, and Canva to design the cover. I set the price below $10 to make sure it's affordable and accessible to everyone.

As my business continues to grow, I'm always searching for new and innovative ways to make more passive income. That way, I can minimize how many hours a week I work and maximize how much money I bring in every month.

Jen Glantz is the founder of Bridesmaid for Hire, host of the podcast You're Not Getting Any Younger, and the creator of The Pick-Me-Up newsletter. Follow her adventures on Instagram @jenglantz.

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This 34-year-old makes more than $5,100 a month in passive income—here's how she got started (1)

VIDEO8:0508:05

I quit my $35K job to grow my side hustle — now it brings in $141 million a year

This 34-year-old makes more than $5,100 a month in passive income—here's how she got started (2024)

FAQs

Who is the 32 year old mom who makes 143000 a month in passive income? ›

32-year-old mom who makes $143,000/month in passive income: 5 books that helped me get started. Jasmine McCall is the founder of Paybump. When I started my side hustle, I didn't have a mentor, a big social media following, or any startup capital.

How to make an extra $1 000 a month passive income? ›

Passive Income: 7 Ways To Make an Extra $1,000 a Month
  1. Buy US Treasuries. U.S. Treasuries are still paying attractive yields on short-term investments. ...
  2. Rent Out Your Yard. ...
  3. Rent Out Your Car. ...
  4. Rental Real Estate. ...
  5. Publish an E-Book. ...
  6. Become an Affiliate. ...
  7. Sell an Online Course. ...
  8. Bottom Line.
Apr 18, 2024

How is passive income not taxed? ›

By keeping assets in tax-deferred accounts like IRAs and 401(k) plans, you won't have to pay tax on your income and gains until you withdraw the money from the account. In the case of a Roth IRA, you may never have to pay tax on your distributions at all.

How to generate $100,000 in passive income? ›

Ways to Make $100,000 Per Year in Passive Income
  1. Invest in Real Estate. Rental properties generate income through tenants who pay rent each month to live in a property you own. ...
  2. CD Laddering. ...
  3. Dividend Stocks. ...
  4. Fixed-Income Securities. ...
  5. Start a Side Hustle.
Jul 28, 2023

How to make 200k passive income? ›

If you have at least $200,000 to invest for passive income, here are some of the smartest ways to do it.
  1. Dividend stocks. ...
  2. Index Funds. ...
  3. Rental Properties. ...
  4. Real Estate Investment Trusts (REITs) ...
  5. Real Estate Crowdfunding. ...
  6. Fixed-Income Securities. ...
  7. Peer-to-Peer Lending. ...
  8. Art and Fine Wine Investments.
Jan 26, 2024

How much money do I need to invest to make $4000 a month? ›

Making $4,000 a month based on your investments alone is not a small feat. For example, if you have an investment or combination of investments with a 9.5% yield, you would have to invest $500,000 or more potentially. This is a high amount, but could almost guarantee you a $4,000 monthly dividend income.

How to make 1k a week? ›

  1. Make Deliveries. Delivering food or groceries is in high demand. ...
  2. Drive for Uber or Lyft. One of the easiest ways to make money fast is to drive for Uber. ...
  3. Take Online Surveys. ...
  4. Start Freelancing Online. ...
  5. Become a Virtual Assistant. ...
  6. Earn Shopping Rewards. ...
  7. Sell Stuff You Don't Need. ...
  8. Sell Jewelry You Don't Want.
Jan 11, 2024

How does the IRS treat passive income? ›

Typically, passive income is subject to a taxpayer's usual marginal tax rate, which is based on their tax bracket. But taxpayers whose modified adjusted gross income is above a certain threshold may also be subject to the Net Investment Income Tax (NIIT).

What does IRS consider passive income? ›

There are two kinds of passive activities. Trade or business activities in which you don't materially participate during the year. Rental activities, even if you do materially participate in them, unless you're a real estate professional.

What income does not get taxed? ›

Disability and worker's compensation payments are generally nontaxable. Supplemental Security Income payments are also tax-exempt. Disability compensation or pension payments from the Department of Veterans Affairs to U.S. military Veterans are tax-free as well.

What is the simplest way to make passive income? ›

25 passive income ideas for building wealth
  1. Create a course. One popular strategy for passive income is creating an audio or video course, then kicking back while cash rolls in from the sale of your product. ...
  2. Write an e-book. ...
  3. Flip retail products. ...
  4. Sell photography online. ...
  5. Dividend stocks. ...
  6. Rent out a parking space.
4 days ago

How to make 40k a year from home? ›

Work From Home $40,000 jobs
  1. AI Content Writer. DataAnnotation4.4. ...
  2. Data Entry Clerk. International Market Place. ...
  3. Customer Support Representative. ...
  4. Associate Attorney - Insurance Claims Attorney. ...
  5. Customer Service Representative - Remote. ...
  6. Strengthen your profile. ...
  7. Remote Clinical Social Worker (LCSW) ...
  8. Remote Receptionist.

How to make $2,500 a month in passive income? ›

Invest in Dividend Stocks

One of the easiest passive income strategies is dividend investing. By purchasing stocks that pay regular dividends, you can earn $2,500 per month in dividend income. Here's a realistic example: Invest $300,000 into a diversified portfolio of dividend stocks.

Who is the king of passive income? ›

Real estate is often lauded as the king of passive income.

What is the income limit for passive income? ›

Under the passive activity rules you can deduct up to $25,000 in passive losses against your ordinary income (W-2 wages) if your modified adjusted gross income (MAGI) is $100,000 or less. This deduction phases out $1 for every $2 of MAGI above $100,000 until $150,000 when it is completely phased out.

How much do I need to live off passive income? ›

Key takeaways: The typical American making $40,480 a year needs at least $826k invested with a 4.9% annual return to live off interest alone. Estimate how much you need invested to live off interest with the formula: Annual income / Annual interest rate = Savings goal.

What is the average passive income? ›

According to the US Census Bureau, 20% of American households earn passive income, with the median earnings sitting at around $4,200 (£3,390) a year, and estimates suggest that around 36% of millennials already make passive income of some kind.

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