ChatGPT’s 10-Year Guide to Passive Income — From $0 to $4,000 a Month (2024)

FAQs

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.

If you like the idea of earning passive income, one idea to make $5,000 per month is to rent out things for money. This is probably the best option if you're very busy with your job and don't have time to start a new side hustle.

The answer is yes, almost 1 in 3 retirees today are spending between $2,000 and $3,999 per month, implying that $4,000 is a good monthly income for a retiree.

Expert-Verified Answer

To find Jamie Lee's passive income, subtract his expenses from his total income. If his total income is $28,800 and his expenses are $10,000, his passive income would be $18,800.

The best way to earn money with ChatGPT is by creating content. It can help you write articles for a blog that you can monetize with advertisem*nts or marketing copies to lure customers to your website. You can use it to create engaging social media posts to attract an audience.

Yes, you can use chatGPT to write a book. OpenAI allows users to freely utilize text generated from ChatGPT interactions, including commercial publications.

Alternatively, you can also use ChatGPT to generate images. While many users see the tool as a text generator, you can also give it prompts to create images.

To generate $5,000 per month in dividends, you would need a portfolio value of approximately $1 million invested in stocks with an average dividend yield of 5%. For example, Johnson & Johnson stock currently yields 2.7% annually. $1 million invested would generate about $27,000 per year or $2,250 per month.

Investing $1,000 a month for 20 years would leave you with around $687,306. The specific amount you end up with depends on your returns -- the S&P 500 has averaged 10% returns over the last 50 years. The more you invest (and the earlier), the more you can take advantage of compound growth.

How much money do I need to invest in stocks to make $3000 a month? ›

If you were to invest in a company offering a 4% annual dividend yield, you would need to invest about $900,000 to generate a monthly income of $3000. While this might seem like a hefty sum, remember that this investment isn't just generating income—it's also likely to appreciate over time.

Suppose you're starting from scratch and have no savings. You'd need to invest around $13,000 per month to save a million dollars in five years, assuming a 7% annual rate of return and 3% inflation rate. For a rate of return of 5%, you'd need to save around $14,700 per month.