Latest news with #Kullberg
Yahoo
06-05-2025
- Business
- Yahoo
10 Ways To Make $1K a Month in Passive Income, According to Erika Kullberg
Earning passive income isn't always passive — at least not at first. You'll need to take some time and dedicate yourself to setting up something that ultimately generates money while you're busy doing something else. But once you have something going, you can sit back and reap the benefits — or continue building more income streams to garner long-term financial stability and wealth. Check Out: I'm a Self-Made Millionaire: Here's How I Use ChatGPT To Make a Lot of Money For You: The New Retirement Problem Boomers Are Facing If you want to earn passive income, it's best to start small. Even an extra $1,000 a month can set you on the path to financial freedom. After all, once you've made that much passively, there's virtually no limit to what you can achieve next. But what exactly should you do to earn at least $1,000 a month in passive income? And what are your options? GOBankingRates spoke with Erika Kullberg, an attorney, personal finance expert and founder of to see what she suggested. Here are some ways to start earning money through passive income. Prioritize Investments That Bring In Cash Flow One way to start earning $1,000 or more a month is to invest in — and hold — dividend-paying stocks or real estate investment trusts (REITs). 'These are the investments that bring regular cash in the form of dividends or rental income without daily management,' Kullberg said. 'To start, do some research for companies or funds that have stable returns in the past, and open an account at a brokerage service, such as Vanguard or Fidelity. By regular contributions and dividend reinvestment, you'll increase your passive income over time.' Say you want to get started with REITs, for example. You can go through a platform like Arrived or Fundrise, which gives you access to both commercial and residential properties. Keep in mind that you'll typically need to keep your money invested for a long time to see the best returns. Invest only an amount you're comfortable with. As you start to earn, you can always reinvest your earnings for even higher returns. If you don't want your money locked up, you can also invest in REIT stocks, such as Iron Mountain (NYSE: IRM) and Blackstone Mortgage Trust (NYSE: BXMT). Learn More: I Made $10,000 Using One of Dave Ramsey's Best Passive Income Ideas Create and Sell Digital Items If investing isn't your preference, or if you don't have a ton of capital, consider producing and selling something digitally. 'Another passive income opportunity is to sell a digital item like an e-book, an online course or printables,' Kullberg said. 'When they're made, these can be sold again and again without much additional work.'
Yahoo
20-04-2025
- Business
- Yahoo
4 Retirement Planning Lessons That Gen X Can Learn From Gen Z
Gen Z may still be the new kids in town, but they're already proving their financial ambition — and making great progress toward reaching their retirement goals. Many Gen Zers are in much better shape than Gen X, which is concerning, given that retirement is much closer on the horizon for Gen X than it is for Gen Z. Find Out: Learn More: According to Guardian's 2024 Mind, Body, and Wallet Report, retirement-related concerns are a leading source of stress for Americans. Many worry they won't have enough to ride out a comfortable retirement. Gen Xers are profoundly feeling the brunt of the stress of retirement approaching. The report found that for the first time in years, members of Gen X reported slightly worse financial wellness than Gen Z (27% vs. 31%). Gen Z may be less concerned about retirement because it's still far away, but they're still making savvy moves to position themselves for a successful retirement. Gen X can learn a lot from Gen Z. GOBankingRates spoke with financial experts to discover four retirement planning lessons Gen X can learn from this younger generation. Gen Z values transparency and they tend to talk about money pretty openly. Gen X should do the same. 'It was considered rude and in poor taste to discuss money in our parents' day, but Gen Z is benefiting from a much more open discourse,' said Erika Kullberg, personal finance expert, attorney, money influencer and the founder of 'Being open about income, budgeting, debt and other tricky financial topics is a great way to learn from your peers.' Check Out: Gen Z members were raised in a world of fast-paced technology. They take advantage of it to help them get financially on track. Gen X should do the same. 'From free budgeting apps to joining online banks that offer better interest rates to getting assistance from a robo-advisor, Gen Zers know there is no shortage of ways they can use technology to their retirement savings advantage,' Kullberg said. 'Gen Xers may be missing out on a lot of helpful retirement resources by not being as open to technology as younger savers.' A powerful way to save for a comfortable retirement is to have diversified income streams — a tactic that Gen Z understands and is open to. 'Another key difference is their openness to diversified income streams,' said Brandy Burch, CEO at Benefitbay. 'Gen Z isn't just relying on a single job or career path; they're exploring gig work, freelancing and side hustles to build additional savings. This flexibility and willingness to adapt are crucial in a world where traditional job security is less of a given.' Gen Z is well aware of the fact that Social Security isn't enough to comfortably live on, and, what's worse, is insolvent and could not be as robust by the time they retire. Gen X needs to deal with this fact, too. 'They must navigate a landscape where Social Security's future isn't guaranteed,' Burch said. 'That's why their proactive approach to retirement planning — focusing on saving early, embracing technology and being willing to adapt — is both necessary and forward-thinking.' More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early 4 Affordable Car Brands You Won't Regret Buying in 2025 5 Types of Vehicles Retirees Should Stay Away From Buying This article originally appeared on 4 Retirement Planning Lessons That Gen X Can Learn From Gen Z Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Side Gigs With Perks: Get Free Stuff With These 5 Hustles
According to the LinkedIn Workforce Confidence survey, 31% of Americans reported having a side hustle besides their primary job. Read Next: Learn More: While the pay for side hustles will vary depending on the type of gig that you pursue, there are many side gig options for those looking for additional perks. Numerous side hustles come with free stuff, so you can save money and enjoy items at no cost to help stretch your budget. These are five side gigs that offer free things as an additional perk to the money you could earn 'Companies are always looking for feedback on their products, and some give away free items in exchange for customer reviews,' said Erika Kullberg, an attorney, personal finance expert, and founder of 'Whether it's tech gadgets, beauty products, or food samples, product testers get to try out new items before they hit the market.' Find Out: You can start by looking for gigs on platforms like UserTesting or Influenster to see what testing job opportunities are available. Kullberg shared that this is not only a fun side gig that comes with free goodies, but you can earn up to $100 per hour if you specialize in a valuable niche like high-end electronics. According to ZipRecruiter, the average hourly rate for a product tester is $37, but this will depend on the type of products you get into. Some opportunities involve writing detailed reviews, and others may require video testimonials. Promotional work could be the ideal side hustle if you have an outgoing personality and enjoy interacting with people. Kullberg noted that brands hire ambassadors to promote their products at events, stores, and festivals. This job can include perks on top of pay, like free merchandise, food samples or event tickets. You can expect to earn an average of $20/hour, but you could also save money by not paying to get into activities that would typically cost you. For example, you could become a brand ambassador for your favorite running shoe company or software and then get paid to promote the products at events. Kullberg shared that working as event staff is a great way to earn money while gaining free entry to major events. She added that the roles vary from ticket scanning and security to working at concession stands or assisting VIP guests. Many of these gigs will also provide complimentary food and drinks during shifts so you could save on normal expenses on top of making some extra cash. The pay rate for event staff is $31/hour, but there's potential for tips and overtime. As a bonus, some even allow staff to enjoy parts of the event during breaks. With increasing prices for events like concerts or conferences, you could save money by getting a free pass. If you're already regularly posting on Instagram or TikTok, turning that into a side hustle can offer some really fun perks if you focus on social media collaborations with local brands. Claire Duarte, a social media and digital marketing influencer expert at Fresh Starts Registry, elaborated on this: ' A brand might offer a free meal, product, or experience in exchange for a post or story shoutout — especially if your audience is local and engaged. I've had everything from spa treatments to family-friendly outings comped this way, and it's a great way to try new things while building relationships with brands.' Earnings will depend on your following size and the budget of the local brand you're working with. Duarte noted that influencer rates vary, but micro-influencers (under 20K) can earn $100-$500 per post, with higher rates for full campaigns or video content. You could also turn your side gig into a social media manager role, which pays $31/hour. As a social media manager, you could work for a local brand or business that you're already spending money on and obtain perks along with your compensation. Affiliate marketing is a side hustle that can be a mixture of the others on this list. With this side hustle, you promote products you believe in for a commission or some sort of compensation. You may get various free things as an affiliate, from digital courses to exclusive access to materials. You could also combine some of these other side hustles with affiliate marketing. For example, you could do a product review on your social media page of a new piece of exercise equipment or a new podcasting headset, for which you then become an affiliate and get paid a commission for every referral. You could also become an affiliate for a brand that you're an ambassador for to double up on the compensation. The average hourly salary for someone in affiliate marketing is listed at $39, but this will depend on how well you convert. There may be opportunities to negotiate a payment structure that allows unique perks, like a discounted membership or free products in exchange for promotions. More From GOBankingRates Mark Cuban: Trump's Tariffs Will Affect This Class of People the Most5 Types of Vehicles Retirees Should Stay Away From BuyingHow To Get the Most Value From Your Costco Membership in 20257 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on Side Gigs With Perks: Get Free Stuff With These 5 Hustles
Yahoo
20-03-2025
- Business
- Yahoo
How To Overcome the Top 4 Financial Barriers to Happiness
A study from Utilities Now found that Americans have missed electric bill payments three times on average over the past year, with 32% stating that they're unaffordable. Similarly, the Priced Out of Progress Report from Zety highlighted that salaries aren't enough to help Americans get by lately, as 90% of respondents reported that financial concerns regularly impacted their emotional well-being. For You: Trending Now: The report also pointed out that certain financial limitations stop Americans from achieving common life goals. The four primary financial barriers to happiness are: Inadequate salary growth (26%) Lack of access to higher-paying jobs (26%) Unexpected financial burdens/emergencies (26%) The rising cost of living (22%) How can you overcome these major financial barriers to happiness? We will break these down individually. If your salary isn't growing at a rate that allows you to keep up with the increased cost of living, you have a few options. 'If your salary isn't keeping up with your needs, you may want to consider negotiating a raise or seeking a better-paying role within your industry,' said Erika Kullberg, attorney, personal finance expert and founder of Check Out: Your first option is to focus on increasing your salary by seeing what changes can be made in the near future to improve your situation. You may have to set up a meeting to request a raise by sharing some of your recent accomplishments or reach out to see what jobs are available in your field. 'If neither is feasible, then up-skilling through certifications, online courses or industry-specific training can make you a stronger candidate for those higher-paying roles,' Kullberg said. The harsh reality is that you may not always be qualified for a raise or higher paying gigs. This means that you'll want to devote some time and money to upgrading your skillset. You can start by checking with your employer to see if they cover the costs of education so that you can update your resume. Melanie Musson, finance expert with pointed out that you shouldn't stick with a job just because it feels comfortable. 'If you're being paid less than you would from a competitor, take the uncomfortable step of applying for a better-paying job,' she added. Since the Zety study found that only 26% of respondents were motivated to look for higher paying opportunities, the key takeaways is to try to avoid getting stagnant in your career. Just because you may like your current co-workers or an employer, it doesn't mean that you have to stay with that company. You want to ensure that you're getting paid what you're worth and this may require you to switch companies. A lack of access to higher-paying jobs could be a self-limiting belief since the world is more connected than ever. Kullberg suggested putting time into growing your network, building your own professional presence online and looking into remote or freelance work opportunities. You should never feel you're stuck because you could be one application away from a new opportunity. There may just be a remote working opportunity or a job available for you with a higher salary that you weren't aware of. The best way to deal with unexpected financial burdens like health care costs or emergency expenses is to set up an emergency fund so that you're prepared. 'Financial emergencies can put many of us into a downward spiral and this is why building an emergency fund is so critical. Setting aside even small amounts from every paycheck will help build a financial cushion over time,' Kullberg explained. Musson stressed that preparation is key when it comes to unexpected financial burdens because we want to be ready for whatever life throws at us. 'It's hard enough to face an emergency, but the stress of not having the funds to pay for it can add additional pressure,' she added. If you haven't already started an emergency fund, this is your reminder to open up a separate savings account to keep some money stashed away just in case. Every little bit will help and you'll eventually build this fund up to help you feel confident about your situation since you don't want to be stuck with a hefty credit card bill. There's no denying that inflation is making it difficult for Americans to get by as prices have gone up on everyday items. There are two ways to approach this financial barrier to happiness. 'When everyday expenses start to get out of control, the reality is you'll need to adjust your budget,' Kullberg said. 'This might mean cutting out some discretionary spending, negotiating insurance policies or bills or just buying a bit less of certain food items each week.' Musson also added that you may want to update your grocery budget to reflect a smaller paycheck if you find that your funds aren't going as far anymore. This could improve your happiness since you'll have realistic expectations for how far you can stretch a paycheck. 'If budget adjustments aren't enough to get you afloat, then you could consider a bigger action like moving to a place with a more affordable cost of living,' Kullberg explained. You could be spending too much on your living expenses, which is making it difficult to save any money. This might be a sign that it's time to think about moving to a more affordable location so that your paycheck can go further. Musson also pointed out that some areas are hubs for certain types of jobs while others aren't. 'There are a lot of factors to consider when moving, but in some cases, the only way to access higher-paying jobs is to move where the job market is better for employees,' she said. You'll want to explore all of your options if you want to increase your happiness because there's no sense in staying in a stressful situation if you can change it. More From GOBankingRates 4 Things To Watch for as Elon Musk Takes on Social Security Here's the Minimum Salary Required To Be Considered Upper Class in 2025 Warren Buffett: 10 Things Poor People Waste Money On How Far $750K Plus Social Security Goes in Retirement in Every US Region This article originally appeared on How To Overcome the Top 4 Financial Barriers to Happiness Sign in to access your portfolio
Yahoo
17-03-2025
- Business
- Yahoo
7 Useful Pieces Of Money Advice From People Who Started Their Own Business
Money can be a scary topic for a lot of people. Perhaps you don't even know where to even start when it comes to managing finances and keeping yourself afloat. But there's one group who needs to nail down financial literacy in order to thrive: people with their own businesses. Without it, they may not earn a living or see success with their endeavor. We spoke with small business owners about money advice they have for anyone hoping to get a handle on finances, whether you're a business owner yourself or someone simply looking to try to improve your own personal bank account. Here's what they suggest: Erika Kullberg, an attorney and founder of told HuffPost that having a budget is paramount to success in both business and life. 'Your compensation can fluctuate, so it's important to understand your cash flow and budget to make sure you're saving for emergencies and retirement,' she said. At the most basic level, you should budget for the necessities including housing, transportation, food and health care. Once you have the essentials covered, look at what's left to budget for buckets like entertainment, subscriptions and savings. The key is knowing every dollar that goes in and out of your guide on making a budget is a good place to start. Whether you're an entrepreneur, employee or a freelancer, it's important to remember what tax benefits are available to you. 'This will allow you to keep more of your money so you can pay off any debt and save for retirement,' Kullberg said. For example, if you have your own business, there are certain expenses ― like office supplies, travel costs and moving expenses ― you can write off in your taxes, which can help in the long run. For non-business owners, there are certain credits you can account for as well, such as having children or donating to a charity. A financial advisor will typically be able to help educate you on what tax breaks you're entitled to based on your income and individual situation. If you don't want to spend money on an accountant or financial advisor, there are free resources online that can be helpful. NerdWallet and The Balance are two websites that have information on taxes, investing, budgeting and more that you can view for free. There are also content creators like Vivian Tu who make videos with information about financial literacy and the economy in an easily digestible manner. Although for some it may feel like retirement is many years away, it's never too early to start saving. 'For business owners, even if you plan to eventually sell your business, you still need to be investing and planning for retirement,' Kullberg said. 'Get familiar with the various retirement plan options available to small business owners, such as solo 401(k)s, traditional IRAs, Roth IRAs, etc.' For those who are employed, you'll want to see what your company offers for retirement. Some common options you'll find are 401(k) company match contributions up to a certain percentage, pensions and even retirement planning resources. If you're one of the many people who have put their blood, sweat and tears into starting a business, then you'll want to make sure you protect it by having the right legal structure, maintaining the right documentation and having insurance. 'Something that often gets overlooked is protecting your assets,' Kullberg said. 'Business owners need to have adequate insurance ― such as general liability, errors and omissions, malpractice or other forms of insurance ― to protect themselves from lawsuits.' This can not only save you money in the long run, but it can also end up saving your business. For those who are employed, you can also make sure you're protected by creating a will, making sure your insurance is still in good standing, and your money is being saved in proper accounts. A legal expert can help you as you're drafting a will to make sure all your assets are protected. Finances can get confusing and messy between bills, invoices and receipts. That's why Kullburg recommended an organizational system for your records. You may want to keep a spreadsheet with your expenses, invoices and income, or perhaps even a portfolio with physical receipts from transactions you've made in the past year pertinent to your business. 'Good record keeping habits protect you in the event of an audit, can identify theft, and lead to more accurate budgeting,' she said. This doesn't necessarily sound like a budgeting tip at first, but you'll quickly understand the importance of it once you do it: Ask for help. 'Trying to do everything yourself wastes time, money and limits growth, aka your revenue potential, said Jazmin Elon, founder of BLK Sunflower and The BLK Sunflower Business Collective. 'Spend money on outsourcing tasks that aren't your strengths or that take too much time, so you can focus on high-impact activities that drive revenue.' If you're hoping to launch a business, this approach allows you to scale faster by freeing up time for strategy and growth, reduce stress by delegating energy-draining tasks, and increase profitability by dedicating your time to activities that directly generate income. If you're just looking to streamline your finances, this might look like budgeting for a financial advisor who can help you get control of your money in the long run. We are all human and it can be hard to manage our emotions sometimes, but David Daneshgar, the co-founder and CEO of Whippy AI and former World Series of Poker Champion, said it's crucial for managing your finances. For example, if you're a business owner who found out that some people in your field are spending a lot of money on advertising right now, that doesn't mean you should too. Yes, you might be anxious that you aren't up to par with the rest of the competition, however, you didn't have a chance to look at your finances and see what will work for you and your circumstances. Take a second, maybe take a few hours or days to evaluate, and then reassess what you'd like to do once you've separated yourself from the situation. 'One of the biggest mistakes in poker ― and business ―is making decisions when emotional,' Daneshgar said. 'In business, staying rational during setbacks is crucial. Take a walk, breathe and focus on the big picture to avoid compounding mistakes.' Does Charging Your Phone To 100% Ruin Your Battery? Here's The Truth. This Insidious Spending Trend Is Probably Making You Lose A Lot Of Money The Best Financial Advice For Every Decade Of Your Life Sign in to access your portfolio
