Passive Income Ideas

[disneysteve]

Appreciate the ideas, but many of these aren't worth it.

I tend to agree. James, while I appreciate the hustle, you seem to spend a great deal of time finding, enrolling in, and managing all of these programs that pay you pennies and require you to give up a great deal of personal information and even access to your computer or home network to outside entities which is pretty risky.

You do you, but just today alone, I've sold 7 items on ebay that cost me a total of $10.50. The sales totaled $170.75. It's definitely not a passive activity but I probably made more today than you'll make in a year with a bunch of these programs combined and what I did is something that absolutely anybody can do themselves. Passive income like CD interest or Treasury interest is great and we made tens of thousands that way last year but I question the value of spending any time at all for things that might pay you $5/month.

[bjl584]

Appreciate the ideas, but many of these aren't worth it.
Active income leads to passive income.
Chasing passive income too much won't get you rich.
I'd rather focus on active income steams, and let the passive income happen in the background.

[james.hendrickson]

All

Been posting a lot of passive income ideas today.

If you're looking for a quick way to pick up some passive income, consider selling your spare bandwidth.

There are two apps that I've found that work: Earn App and Honeygain. The upside is they're super easy to install and require basically no work - you just have to collect. And they pay about $5 each per month, so its decent income for no work.

The links are in the referral thread, here, - consider installing them if you want passive income and don't want to work to much for it.

[james.hendrickson]

One more...

If you want to diversity your passive income sources, you can always get into small business bonds. Two good companies in this space are: worthy.com and thesmbx.com

Worthy pays less, and won't let you diversify, but its been around for longer than thesmbx.

Both are worth checking out.

[james.hendrickson]

All,

Quick reminder, if you want passive income, don't forget about peer to peer pending. This is basically lending money to people on line. Most of the companies that do it crowdfund loads, so you can put $25 into a loan and get between 6% and 12% returns back.

This is legit - but the industry isn't profitable, so you'll want to be careful about the companies handling the loans. Also, a lot of these platforms have had issues with high risk lending, so you'll want to avoid the high risk loan options. The returns can be illusory.

That said, lending has been a reliable way to make money for thousands of years, so its worth checking out the modern incarnation.

Here is my prosper.com loan portfolio:

[james.hendrickson]

Another passive income idea - if you own stocks, you can sell the voting rights.

The company that does this is called The Shareholder Vote Exchange, svegroup.com

it works, I've made like $25.

[james.hendrickson]

Here is a classic passive income idea:

rent out a room you have.

You'll make between $300 and $600 per month, and if they're a quality roommate you'll get more social interaction and possibly some help around the house.

[james.hendrickson]

For all the lurkers out there, a rock solid way to build passive income is to buy a bunch of US Treasury products.

Treasury products are basically bonds and because the treasury products are guaranteed by Uncle Sam, they are low risk. And, the amount they pay can be good, like 3% to 6%.

You can buy them at treasurydirect.gov.

Well worth putting some of your money into.

[james.hendrickson]

Want a passive income idea?

If you're into crypto and you want to get paid to use a search engine, consider Presearch.

They give you 1/10th of a pre-token per search in their system. Its simple, you just have to sign up, and use their search engine regularly to get paid.

You can find them here => presearch.com

I use them regularly, and have about 1,100 PRE stacked. Its been worth it.

[disneysteve]

my wife is a wet nurse for two women in our tribal nation thats pretty passive good money tho

That’s a wonderful service for her to provide for those women and children but its not exactly passive.

[FrostedMoose]

my wife is a wet nurse for two women in our tribal nation thats pretty passive good money tho

[disneysteve]

I was going to research annuities but disneysteve squashed that idea.

Immediate annuities can be useful in retirement in certain situations and MYGAs can be good (multi year guaranteed annuities) but that’s about it.

[QuarterMillionMan]

I was going to research annuities but disneysteve squashed that idea.

[Fishindude77]

To be honest, I;ve never understood the hype around Mr. Kiyosaki or why he;s considered a trusted financial voice. Could just be me, but I;ve never felt like he offered financial advice that;s appropriate for the average person.

I agree.
Too much doom & gloom regarding the future and bragging about his own personal wealth situation.

[srblanco7]

That article is delusional.

1. Buying properties and renting them out is NOT passive.
2. Dividends aren't really income but they're taxed as if they are. When a $50 stock pays a $2 dividend, the value drops to $48. There's no net gain.
3. Royalties are kind of sort of passive income except for all of the work you have to do to create the product or content that results in those royalties.
4. Building a business that then operates without you certainly isn't passive.
5. Lending money for interest is passive except the part where you need to vet all of the potential borrowers.
6. Most annuities are a complete rip off, though there are exceptions. Variable annuities should never be purchased by anyone pretty much. Immediate annuities can be legit but you really need to do your homework to select a good one.

To be honest, I’ve never understood the “hype” around Mr. Kiyosaki or why he’s considered a trusted financial voice. Could just be me, but I’ve never felt like he offered financial advice that’s appropriate for the average person.