Marcus Promo Code for $1,500 a Month in Passive Income

This technique is not for everyone, but it is for many! Here is a low risk and guaranteed way to earn nearly $1,500 a month in passive income in your Marcus Savings.

First, we are going to give you a quick backdrop on Marcus High Yield Savings Accounts.

How we come up with today’s numbers are based on current rates. Rates will likely stay lower the next few years, but have hopefully bottomed out at least!

Again, the method used in this article might not be for everyone.

However there is a large segment of the passive income investing base that do prefer very low risk ways of earning. This method below is for them.

If you are not a low risk type of passive investor, then take a look at our article on doing a Fundrise investment for you mid-tier type of risk takers.

If you prefer a higher risk / higher return – then earning passive income on crypto might be more your speed.

What is a Marcus High Yield Savings Account?

Savings accounts are considered a safe and reliable option.

They are usually federally insured and are protected against bank failure. There is little to no risk associated with keeping your money in one of them.

Marcus HYSAs are backed by the financial expertise of Goldman Sachs and was created to help people achieve financial well-being.

(Stay tuned below for a promo code that will boost your interest rate. If you can’t wait, here it is.)

An account like this can give you at some earning potential with interest in addition to a relatively safe place to park your cash. Not to mention that your deposit is insured up to $250,000 by the FDIC.

The tradeoff on low risk is you’re not going to see those high returns from other investments.

Saving vs Investing

There is always a debate on whether you should have idle money sitting in low risk savings accounts instead of investing it for higher returns. But that decision is yours to make.

Many people find comfort in having a certain amount of money in savings that is to be used for emergency situations only or job loss. They build up a certain amount in their savings before investing.

Whichever path you take, just know that passive income could still be earned in this low risk strategy.

But as the old saying goes, it takes money to make money. Here is what that means.

How to Make About $1,500 a Month with the Marcus Savings Account Promotion.

Income earned from a savings account is considered Interest Income. That means you are earning income on your money “just sitting” in your Marcus Savings Account.

Now, at the time of this article, the interest rate on Marcus Savings Accounts is .50% and using this promotion code link will get you boosted to .70% instead.

We at Passive Income’d are pretty hopeful that interest rates have bottomed and should rise in the years ahead.

It might be a slow rise, but slow is better than nothing at all. Your rates should go up in time.

The Interest Earning Breakdown

To earn about $1,500 in passive interest income, you’ll need to max out the FDIC covered amount on your Marcus Savings Account. Here is what those numbers look like:

$250,000 deposited x .70% = $17,500 earned annually.

$17,500 annually divided by 12 months = $1,458 a month.

The below chart is an example of this strategy based on the default .50% rate (but remember, the link gets you an additional .20% as a new customer).

High-Yield Savings Account Calculator | Marcus by Goldman Sachs Passive Income
Image Credit: Goldman Sachs

What Have We Learned?

In summary, by having $250,000 in your Marcus Savings Account you can earn nearly $1,500 a month in passive income via interest.

If you don’t touch this money, it will continue to compound and make you more.

If you;re ready to get started, even if small at first, then claim your boosted interest rate here.

Utilizing a High Yield Savings Account with Marcus is a great low risk way to earn.

Not to mentioned that passive income comes with a FDIC insurance guarantee to protect your balance in case of bank failure.

Bank failures don’t happen often, but they have in the past multiple times.

And if that is something that keeps you up at night, you will take some comfort in a low risk passive income strategy like outlined above.

Marcus Promo Code for $1,500 a Month in Passive Income
High-Yield Savings Account Calculator | Marcus by Goldman Sachs Passive Income
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