A few days after posting my article on - Creating Alternative Income Streams, I got an automated email message sent to me stating that I had earned $.04 for the month of July from an income source I completely forgot about. Now $.04 is not much to get excited about, but it is also a completely passive income stream at this point, as I did nothing the entire month of July to receive it.
This additional income stream that I forgot to mention in my prior post is from a website called UpDown. If you have any interest in trading stocks or even practicing buying and selling securities, I would recommend this as an alternative income source. Basically UpDown gives you $1,000,000 of virtual money to manage in a portfolio where you buy and sell stocks. There are three possible ways of earning income:
- Beat the market - UpDown will pay you actual money for your performance on a monthly basis. Depending on how much you beat the S&P 500 index by in the last month and since you started will determine if you are paid and what that amount would be. Beating the market by a wider range consistently over time results in higher income generated. I earned $.04 in July and also didn’t even realize I earned $.05 back in June. I had singed up for this site back in May of this year.
- Submit Stock Analysis - UpDown also has a feature that let’s its members write their stock analysis so that other members can research and review. Depending on your rating of the stock analysis by other members, you could potentially receive compensation for your posts.
- Refer Friends to UpDown - UpDown will also pay you money for referring friends and colleague’s to open up an account. This is where it gets interesting. UpDown will pay you 10% of the earnings from all of the friends you have referred.
So far in two months, I have earned $.09 for not really doing very much but purchasing 4 high quality stocks (GE, BAC, CVS, and IR) for my virtual portfolio. I hope to use this tool as a way to test out some of my stock strategies and analysis before I put my hard earned money to work in the real world. Any additional income that I generate from this site will be an added advantage of using this site! If you do not already have an account and would like to sign up, please consider sending me an email (passivefamilyincome @ gmail dot com) or posting a comment and I will send you a referral link.
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Hi, PFI, please, send me a referral link and let the referral income flow into your walet. Thanks!
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Pennies doesn’t seem like a significant of passive income but it is income nonetheless. It provides at least some incentives for players not to fool around with the play money.
Do you know by any chance how they calculate your earnings?
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Well I am glad that you made some money off that. I would not do well here since I have played other stock picking games and always do poorly.
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LuLuGal - Thanks. I guess it is better to lose money trading virtual money than real money!
Simon - I will check on how they calculate earnings. I haven’t been able to find it. All I have found says it depends on how much you beat the market by.
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