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Ask HN: How to Make Passive Income?
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Re: Ask HN: How to Make Passive Income?
#32You need capital to make passive income. And you need to be willing to risk that capital. If you dont have those things, dont bother.
Fortunately if you are a software developer, you can make things that other people require a lot of capital to do. So you can make your software vending machine of some sort and have passive income from that. Advertising it requires capital, and you have to design the system that has low infrastructure costs.
Re: Ask HN: How to Make Passive Income?
#33It's hard to get into a position where you get money for nothing. I'd gladly tell you exactly how to do it, but unfortunately I am just as lazy. Maybe try feudalism, though.
My peasants do net fairly sizable tax revenue (largely in sheep, some gold as well) but I would hardly call that “passive”, what with all the galloping around the countryside with my pikemen and all!
Re: Ask HN: How to Make Passive Income?
#34Earlier quoted context omitted.
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.
I bought a fantasy novel recently that was written in 1998. Turns out the author wrote 11 more novels in this series which was a big part of why I chose it. The most recent novel came out in 2021. She no doubt will receive a tiny amount of income in 2022 from my purchase in 2022 stemming from work she completed in 1998. I would classify that as passive income but of course is it really? Would the book have even been on the shelf at Books A Million if she has stopped writing in 2000? Hard to say but I think most people would consider that passive income earned this year.
Re: Ask HN: How to Make Passive Income?
#35I live comfortably on passive income at 34 years old with my diverse portfolio of income producing assets, which include but are not limited to:
1. Businesses I founded & own that are managed & operated by my employees. 2. REITs & other dividend paying stocks. 3. Real property that I own that is managed by property managers. 4. Music that I have published and receive streaming royalties on. 5. Personal loans (this is risky and I don't recommend it, but I do make some passive income this way). 6. Crypto lending (I use Stablegains which is currently paying 15%(!). Use my referral code to get $25 FREE when you sign up: https://app.stablegains.com/signup?ref=SWKDN4UXUG 7. Asset trade-ups to capture capital gains (such as in real estate). 8. Leveraging credit card cash back rewards by using these types of cards for ALL of my purchases, business and personal.
These are my primary income earners, and when added together, they make quite a sum of passive income for me. I started at zero like many of you here. It is possible to build a diverse portfolio of passive income with relatively low risk, without starting with a ton of capital. It just takes some good ideas, excellent execution of those ideas, self-control over your spending, and smart decision making. Don't lease the new Tesla when you can get by with the $5k SUV you already own. Those kind of things.
Re: Ask HN: How to Make Passive Income?
#36[deleted]
Re: Ask HN: How to Make Passive Income?
#37Having 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 free…
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Re: Ask HN: How to Make Passive Income?
#38Get a better job ASAP. Passive income, to large extent, is self-help bullshit. Any business or investment requires attention. Once you secure "normal" income, save up in Bitcoin. This will at the very least protect your purchasing power against inflation. With a little bit of luck your purchasing power will grow as Bitcoin gets adopted.
To the person who downvoted, we will come back to this thread in a few years to see who was right about Bitcoin. Brace yourself.
Re: Ask HN: How to Make Passive Income?
#39Money don’t grow on trees. If there was a magic way to make money without work, everyone would be doing it.
Everyone has a pen, but not everyone is a writer.
Re: Ask HN: How to Make Passive Income?
#40I live comfortably on passive income at 34 years old with my diverse portfolio of income producing assets, which include but are not limited to: 1. Businesses I founded & own that are managed & operated by my employees. 2. REITs & other dividend paying stocks. 3. Real property that I own that is managed by property managers. 4. Music that I have published and receive streaming royalties on. 5. Personal loans (this is…
So basically, be wealthy. All of your solutions require money up front, except maybe #4 if you're skilled and lucky, and #8 but the cc rewards for day to day spending is like 1 or 2 bowls of raman.