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Ask HN: How to start earning $500/month in passive income in next 12-18 months?

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Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?

#11
Build curated lists of small businesses in the US. I mean really quality spreadsheets, with city, state, address, owner name, contact name, email, phone, etc. Do this for business categories, like: bakeries, caterers, dentists, doctors, plumbers, etc. For the doctors and such, I would focus on small town entities who are not part of a large medical practice.

Then you sell exclusive, limited access to the list. The internet is virtually littered with small SaaS applications which are targeted toward small businesses. They are selling software for bookkeeping, time tracking, shift planning, appointment reminders, practice management, etc. These SaaS products have LTV numbers such that direct calling is worth their time.

Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?

#12
I'd give a read to Start Small, Stay Small (www.startupbook.net) and other startup literature. Study Paul Graham's essays (www.paulgraham.com).

Random ideas:

- Start something like skoshbox.com, but with Indian goodies. You may not realize it, but foreign countries crave Indian tastes and flavors. I would probably pay for a monthly delivery of Indian spices and sweets.

- Start a podcast on a passion of yours. Offer free newsletter and video lessons, then charge for premium content or up-to-date episodes and consulting.

- Omegle meets paint. A collaborative canvas for children of different nationalities to meet on the Internet. No chat, no video/audio – just the canvas. Revenue may come from ads, sponsors, educational programs within the platform.

EDIT: to whoever downvoted my post, may I ask why?

Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?

#13
Since March this year, I have been able to build a semi-passive income of around $1500 per month (lowest around $1000 and highest $2000) by building/selling items on CodeCanyon.

Granted it's not truly passive income, rather semi-passive. That said, with minimal monthly efforts, the money comes in each month.

Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?

#14
post #6

$500 per month is $6000 per year. $100,000 in high dividend stocks may generate close to that much in dividends per year. So contract for $100 per hour for 1500 hours in the next 18 months. Then make a good investment.

I second this recommendation. Also, you only need ~$60k, as long term INR denominated fixed deposits yield ~10%.

Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?

#15

I'd give a read to Start Small, Stay Small (www.startupbook.net) and other startup literature. Study Paul Graham's essays (www.paulgraham.com). Random ideas: - Start something like skoshbox.com, but with Indian goodies. You may not realize it, but foreign countries crave Indian tastes and flavors. I would probably pay for a monthly delivery of Indian spices and sweets. - Start a podcast on a passion of yours. Offer f…

Start Small Stay Small is essential reading IMO. I have the e-book/audio book package and I highly recommend it.

Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?

#16
You don't want to earn a passive income. You want to leave your job. Fine. Except that looking for passive income stream is not the best idea out there.

If you can contract for $80/hour for US/EU clients (really possible), you'll need to work only 40 hours to cover a 6 month expenses.

But that won't probably be enough for one month, once you start earning it. You've been warned ;)

Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?

#19
post #6

$500 per month is $6000 per year. $100,000 in high dividend stocks may generate close to that much in dividends per year. So contract for $100 per hour for 1500 hours in the next 18 months. Then make a good investment.

How does one identify high dividend stocks?

Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?

#20
post #6

$500 per month is $6000 per year. $100,000 in high dividend stocks may generate close to that much in dividends per year. So contract for $100 per hour for 1500 hours in the next 18 months. Then make a good investment.

Just don't forget about taxes...
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