Get someone rich to give you a bunch of money.
Ironic how this gets downvoted on a site operated by a company that facilitates this very practice.
Ask HN: How to Make Passive Income?
21–30 of 70 posts
Re: Ask HN: How to Make Passive Income?
#22Get a high-paying job in FAANG and invest your savings.
Re: Ask HN: How to Make Passive Income?
#23Having been super broke in the past, I’d recommend increasing your primary income first. It’s infinitely easier to have one good paying jobs than two low paying jobs.
This is the best answer.
Passive income (in the forms that it actually exists, and isn't a scam being sold by someone who makes their "helping" people create passive income) requires long-term thinking, and it's nearly impossible to make good long-term decisions when you're worrying about rent money or your next meal.
If you work full time, focus on getting a raise, a new job, or changing industries.
If you're a freelancer or consultant, raise your rates, or fire a shitty client to make room for a good one.
If you don't know how to do these things, you're not alone, and there's no shame in asking for help.
_Reliable_ income isn't necessarily a pre-requisite for passive income, but it's emotional leverage that most people try to skip past and never achieve either.
Re: Ask HN: How to Make Passive Income?
#24Real estate is one of the most common ways
Managing rental properties sounds all but passive. Even if you outsource everything, quis custodiet ipsos custodes?
Unless of course you're talking about investing in a REIT.
Re: Ask HN: How to Make Passive Income?
#25Having been super broke in the past, I’d recommend increasing your primary income first. It’s infinitely easier to have one good paying jobs than two low paying jobs.
Any time I’ve looked into passive income, I’ve come to the same conclusion: the simplest and most effective way to increase my income is to focus my energy on improving my main career.
Re: Ask HN: How to Make Passive Income?
#26Substantial passive income requires a bigger financial invest, e.g. if you can buy 1,000,000 ADA and stake those, you'll get round about 50,000 ADA rewards per year (39,000 USD, currently). Same with stocks, buying an apartment/ house to rent it to others etc.
So, you'll have to maximize income and reduce cost as much as possible to fill that "investment bag". One way to do that is to become self-employed, win a corporate customer that is okay with remote work and move to a lower-income / cost country for 10 years.
A lot of people today try to build traction for their digital product in a large enough niche. Never ever underestimate the effort needed for that! That hasn't much to do with passive income.
If you've got a talent for writing, you could write 9.99€ Kindle books for high margins.
Re: Ask HN: How to Make Passive Income?
#27Money don’t grow on trees. If there was a magic way to make money without work, everyone would be doing it.
There are people who make passive income. Not everyone makes passive income. Your reply is meaningless.
> Your reply is meaningless.
I think the parent commenter's point (and apologies if this is a mis-read, shp0ngle) is that passive income is a fantasy unless you're just stashing extra money in investment vehicles. That doesn't sound like the situation nada_ss finds themselves in.
Re: Ask HN: How to Make Passive Income?
#28The theory is simple: 1. find a profitable niche 2. solve a problem for that niche 3. do marketing in that niche to get people to pay for what you've done In practice, making a passive income is tough and it's way easier and faster to be working for someone else. If 0.1% of my users would be customer I would be doing much better than my day job, until then I'm in the marathon of bootstrapping my business. Good luck!
I would change this to: 1. Find a profitable niche 2. See if you could market to said niche in a way where you have an unfair advantage. 3. If yes to 2, market and sell the product before you have it to ensure demand 4. Build the product.
I would change this to. Find a project you would love to do (software, hardware, art; anything you love to be really good at). Make sure other people would like to see that project (ask your friends and see what others have done). Then create the project and blog about it, create tiktok/youtube videos. It can take a year or more . Also this project can be used to get you a job.
It is possible your project will fail; try to figure out why. Pick a new project and try again.
Re: Ask HN: How to Make Passive Income?
#29A lot of people work a part time job, or work 2 remote jobs at the same time. Not necessarily recommending this approach, but i've worked with people that were doing it, including one right now.
Re: Ask HN: How to Make Passive Income?
#30If you're fine with living with others I know a few people that bought houses with more bedrooms than they needed and they'd just rent out the spare rooms. Everything is cool as long as you have good tenants and don't mind the constant company. When things are good, this means a much reduced mortgage expense.