You just woke up to the warm sun shining through your window. You’re nice and cozy, determined to snuggle in bed a little bit longer when “ding!” A new notification pops up on your phone — a deposit of $100 into your bank account. But it’s no shock to you. This happens all the time. You’re that good with investing.

Wait, is this not how your morning goes? What if it could? Making money while you sleep isn’t the stuff of daydreams; with the right cocktail of investments, you could be collecting cash while you sleep. But how? Two words: compound interest.

You can accrue compound interest by doing the following:

  1. Do your research and create the perfect savings/investment strategy.
  2. Diversify your portfolio with investments and accounts that are eligible for compound interest. Keep reading to find out what those are.
  3. Earn interest on these investments.
  4. Continuously earn interest on the interest of your investments.
  5. Grab a glass of your favorite beverage, kick up your feet, and watch your money grow.

Let’s start with number one. Use this checklist as a reference for what investments to research, and keep it on deck as a guide for your next conversation with a finance professional.