I have done things that I call passive savings. Once I sign up for automatic payments for some things or handling accounts online I started saving about $25 a year each for different things. I'm always looking at ways to chop off spending without having to think about it ever again but I guess that isn't passive income. I've never heard of anyone through the use of passive income getting to sit by the pool and drink beer all day. Usually anyone who can do that inherited money or is being a leech on someone else.
By the way for those who think that once you get to 65 and can have Medicare you won't have medical expenses, think again. You have to pay currently about $90+ a month for Medicare and then anywhere for $300+ on up per month for a supplementary insurance to cover what Medicare doesn't and then you have to pay $25-100+ a month for your drug supplement. For me on disability it runs about $500 a month our of my disability check. Then the SS cost of living increase usually equals the Medicare increase so you aren't any further ahead and many are actually sliding back (have less money to live on each year as Mediare/supplements take the entire raise plus).
Gail
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