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Ask HN: What was your best passive income in 2020?

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Re: Ask HN: What was your best passive income in 2020?

#81

I made €73k from a Chrome Extension. [1] Went down twice in the last year so I had to spend some time on that. Chrome Webstore are shutting down their payment system, so I've spent some time migrating all that nonsense. If you're interested, I also wrote about others monetising their extensions and how they did it. [2] [1] https://beebs.io/ [2] https://tillypay.com/blog/how-to-monetise-a-chrome-extension...

Hey there! This is really nice. I enjoyed reading your article. I am curious how do you monetize beebs? Do you get paid from publisher and TV shows or any other source? I couldn't find article on Indie Hackers about it.

Re: Ask HN: What was your best passive income in 2020?

#82
I started a SaaS service [1], in Aug 2019, to extract tables from images and scanned PDFs. Launched with a post on hacker news. I added couple of contractors who share the development on-demand. Last month, for the first time, we hit 10K users, no paid advertising, hitting 170K requests per month. Not expecting to cash out any profits now, investing them in the development. Now, I'm dealing B2B contracts and taking customizations for the businesses. The goal is to hit at least 3K in profit by next year end. Also, releasing a light weight version of the current published version as a new SaaS [2] at low cost.

[1]: https://extracttable.com

[2]: https://imagetoexcel.com

Re: Ask HN: What was your best passive income in 2020?

#83
post #7

A few years ago I started a niche healthcare case management SaaS. While I sometimes add new features, upgrade software, or fix bugs, it mostly runs itself. There's currently a handful of clients each paying ~$8k annually.

Do you have (or need) certifications such as HIPAA?

Re: Ask HN: What was your best passive income in 2020?

#84
post #62
post #12

To me, passive means little or no ongoing time investment. If we are looking at "best" in terms of revenue, then dividends from investing in the stock market are by far the best source of passive income I can imagine. I've got a 1.5x leveraged portfolio over on IBKR that is currently yielding ~2.9% dividends across a wide range of sectors. I am paying ~1% in margin fees at the moment, so I basically get to use their…

How are these fees so low? Is there anything stopping you from taking the money and investing into index funds? I feel like I must be missing something. The most conservative investment options I know of all have >1% expected returns.

Many brokers, including IBKR, set their interest rate to be a small increase over the federal interest rate.

The federal rate is currently 0.25%. They set this rate extremely low to encourage the exact behavior we are seeing here - investments in the US economy.

I have a 1.4x leveraged portfolio with similar reasoning.

Re: Ask HN: What was your best passive income in 2020?

#85

When the lockdowns started happening in March, I began trading the stock market. My YTD realized gains is equal to my base salary. About 140k. I am proud of all the trading I did. Living on the west coast it also turned me into a morning person, where market opens at 6:30am. Good side effect :)

What resources did you use to learn how to do this?

Re: Ask HN: What was your best passive income in 2020?

#87

When the lockdowns started happening in March, I began trading the stock market. My YTD realized gains is equal to my base salary. About 140k. I am proud of all the trading I did. Living on the west coast it also turned me into a morning person, where market opens at 6:30am. Good side effect :)

Also bought EFTsvwhen the market went down. Huge gains....

Re: Ask HN: What was your best passive income in 2020?

#89
I have four passive incomes, I guess ^^

I'm from Slovenia, Europe, so I don't know if there work outside of Europe, which is also why I'm proud of them, because it's actually quite hard to find investment platforms outside of USA!

Firstly, stocks, combination of growth and dividend with reinvesting dividend yields. Found a blue chip company that grows weed which was very funny to me, so I decided to buy some of the stock, by now it has grown my ~250%, which is pretty nice and even more funny because the stock is _high_

Secondly, crypto mining, I do this because I have access to _free_ electricity and internet, thus all profits are mine.

Thirdly, crypto earned from mining I transfer into BlockFi, which isn't insured in anyway, but it does work like a saving account where BTC has a yearly interest of ~6%, other crypto currencies have more and some have less, you can also set that the interest is paid in any other crypto currency.

Fourthly, one that I'm probably most proud of, Quanloop, they are a lending company but us _investors_ work kinda like a buffer for them so it's not directly us that are loaning the money. On Quanloop I have a yearly growth of ~15.6% with monthly payouts, they also pay you what you have lost due to inflation and what you had to pay for income tax. It's really amazing.

Here's my referral link: bit.ly/InvestLove If you deposit 0.01€ or more you'll get 5€ reward, but if you want to avoid that, you can just Google Quanloop and do it that way.

I don't work for Quanloop, I just really find them interesting.

Fifthly, while currently not active I do plan on putting money onto it and that's Iban Wallet, it's a saving account that pays out interest every day, which seems very interesting to me!

Re: Ask HN: What was your best passive income in 2020?

#90

When the lockdowns started happening in March, I began trading the stock market. My YTD realized gains is equal to my base salary. About 140k. I am proud of all the trading I did. Living on the west coast it also turned me into a morning person, where market opens at 6:30am. Good side effect :)

What is your trading strategy? Just curious about the general approach you have.
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