The only way the average person has a chance at passive income is rental property. I suppose you could invest in the market but it's just a roll of the dice if you ask me.
First, you will probably need some savings and good credit. The idea is that you would need to own two properties of sorts. One to live in and one to rent out. If you have a duplex you will only have one mortgage and can use the rent income to cover part of it. The sooner you pay off the property the sooner you can get another. Eventually you could get to a point where you just live off the rent income and don't have to work. You could even hire a property manager to handle tenants and upkeep. They usually charge one months rent each year and 10% of the rent each month.
Probably the most important thing is location. In run down areas your just more likely to deal with people who can't pay their rent or are going to damage your property. Finding tenants might be an issue too.
The best areas are going to be medium size cities that haven't be overpopulated yet. That eliminates most of the west coast and places like Denver or Austin. Military and college towns a good choice because of the demand.
Kek I lived next to these Arab college kids for like 3 months and they didn't pay rent once. They kept saying oh we will in alittle bit just wait till we have the money. Then just bounced lol
I don't know who you watch on youtube but you must at least have heard mention of the adpocalypse.
Personally buying a lottery ticket yields a high success rate then becoming a youtuber
Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it
So traps are similar in that they are like normal females without requiring minimal to no effort to maintain it
>Military and college towns a good choice because of the demand.
My uncle rents out houses in a military area and he says it's insane how much military families will overpay for housing so if you set up in such an area the local populace is ripe for exploitation.
My mom did this in the trailer park, now I'm kinda doing it.
>mom used to own like 12 trailers
>cops all know her because she's a mentally ill druggies
>let's shitty trailers get shittier so she doesn't have to fix them
>gives tenants the "don't bother me rate"
>bought a house in the hood
>a HOUSE though
>3 miles from the beach
>Rent out 3 of my 4 bedrooms already
>Cover all the utilities
>never see 2 out of the 3 renters
Thinking of putting some of the rooms on AirBNB soon.
I already take in $400 more in rental income than my mortgage, so it's like I get a free place to live
Easiest thing to do is put your money in an index fund, like the S&P 500 ETF. If you want to learn a little more about macro and overall market trends, then you could make some better returns by investing in industry specific ETFs
Also I’ll add to this. If you ever get a good understanding of when the market will go through upticks and downturns, the. You could make a good amount by buying the VIX ETF low and short selling it high. And if the economy as a whole turns to shit like during the 2007-2009 crisis, most importantly, do not panic. A shit ton of people lost out by not keeping their positions post-crisis
This past year it returned 13.5% and over 5 years it returned 82.2%. If you don’t want to do ETFs putting your money into Vanguard and Fidelity equity funds is also a phenomenal idea
>The sooner you pay off the property the sooner you can get another.
>Save enough money to purchase one in cash (Seriously, live off ramen, sell shit you don't need/use, etc)
>Dump that cash/stock into credit line
>Purchase a rental property with credit line
>Immediately go to bank, get loan on that house
>Take that money, put back in credit line
Now it's a little more complicated than that, but you can buy a house a month if all the paperwork is pushed through as quick as possible
>This past year it returned 13.5% and over 5 years it returned 82.2%.
You are misunderstanding. These numbers are all equity growth, not passive income.
I will check out equity funds, though. Thanks!
Absolutely untrue. He’s trying to invest his money passively, not actively. The whole point of passive investing is to generate capital gains in addition to what you earn though your normal salary. And most of the ideas on here like real estate and putting it into funds does not require one to solely desecrate their time to these activists. Please don’t ever try to enter consulting or asset management
>buy house on credit
>get reverse mortgage on house
>buy more houses
Bro I don't think that's how it works. Reverse mortgages or using a home as credit collateral is based on your equity in the property, not the value of the property. I think, at least. Any mortgage loanfags here? Also to get a mortgage the home has to be your primary residence most of the time, and to get the tax break when you sell you need to have lived in it for two years straight. Good luck cashing out bruh.
Shot I misunderstood your question. Presumably you want actual income rather than assets that grow in value over time. In that case the only thing that applies is the VIX thing from earlier, not even real estate is applicable
Graduating comp. engineer here.
Arabs and most euros are addicted to facebook, never show up, have low work perseverance and are notorious for cheating during exams. Hearing them do it right next to me made me want to snitch so fucking bad. Not sure if should've.
I'm already worth 7 figures, mate. To the extent you chase passive income / cashflow over equity growth, you reduce your overall income in retirement. Here's a good article about that - it's a bit real-estate-centric but the concepts are the same.
Passive income is a drag on the growth of your net worth. That's why people like the index funds - they have a low tax profile and are geared toward growth. Once you're done growing your nest egg, only THEN should you switch over to making that pile of cash generate income.
>will be worth
good luck trying to cash out regularily
from your 65k you will be left with 40k after the fees and taxes, provided btc doesn't fall again just when it is most inconvinient for you.
Crypto is not passive income but a long term investment.
Simple way, have a set amount of every paycheck set aside and invest it into Vanguards S&P 500 ETF and just keep doing it. Better to do it through a Roth IRA or any pretax account if you have access to one through your work. 7-8% average yield over enough time. Put away enough and you retire early.
$600 more like it.
It would have to be lucky and get the final string for a prime number to get the whole purse.
That is easily 5 years before he gets equal amount of btc or eth
You make a point but read it. I chuckled at all you cryptocurrency fags.
1. I made money the conventional way. I joined the Army at 17 and luckily my mom opened an aggressive growth funded Roth IRA as a graduation gift.
I used hald my pay to fund that. I still contribute 500 bucks a month into it.
2. I invest into two portfolios. One portfolio is a list of stocks that pay out high dividends. I make about 30K a year off of them but of course I cant sell them.
The other portfolio is long game type stock: disney, microsoft, google, and some other stock like amazon that i sold a while ago. I had bought them when amazon stocks were 75 bucks a share. Fortunately i forgot about them since i had spent 2 years in afghanistan and iraq. So yes. I retired at 30 and do nothing but read cracked when i take shits. Enjoy your worthless crypto holdings dipshit kisses & peace
You assume all I had was amazon stock. I sold it to buy land and build a house on it. Plus i hate liberals like Bezos and amazon sells chinese junk.
But i retired because i qualify for 100 disability. I get paychecks for life. Thanks for paying your taxes.
I laughed at you for reading Cracked for financial advice. Don't assume I would fall for that crypto-bullshit.
I'm currently maxing out my 403b and Roth contributions every year. Getting my wife to do the same. We live simply and paid off our house in 2 and 1/2 years. Now I'm looking at retiring to work the homestead and my side hustle to make as much as I did before, but now on my terms doing what I love. Congrats to you, anon.
This guy gets it. Im not wiping my ass with 100 dollar bills. I was lucky to make decent choices with the money i had from the army. I paid nothing for rent and food. I had a cheapass nokia and an old toyota pickup. My only indulgence was guns ( i was infantryman) and i had two girlfriends, neither of which did not contribute to my economic security hence, my aversion to relationships. My hobby was managing my money through the stock market and travel to cheap places like Thailand.
I personally believe crypto is just a waste of time. I feel sorry for you if you stuck even a dime on it.
Even an idiot can make money in index funds.
Or you could go full retarded and try to trade cryptos that have nothing backing them like an actual economy.
They'll only be worth as much as the idiot next to you thinks it is.