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Ask HN: How to start earning $500/month in passive income in next 12-18 months?
111–120 of 205 posts
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#112There is a strange obsession here on HN with passive income. Yet I haven't seen any good examples of passive income, which were built without significant effort or time. Income is anything but passive. Here's a better way to look at it: You want to earn $500/month? As a good Ruby developer, you can earn that much in two days doing contract work. And no, it doesn't matter if you're based in Bangalore, you could be bas…
Passive income does not mean no effort. It means initial investment that pays off over time. For example, book sales or a portfolio of stock photos would be passive income.
My point is that if it takes so much effort, it's better to spend it on doing something you're not trying to avoid doing. You make more money and it's more satisfying, when the goal is not to stop doing it.
But I think people get a kick out of chasing passive income, because it gives them a sense of having "hacked" the system.
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#113You 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 ;)
" If you can contract for $80/hour for US/EU clients (really possible) " Do you have more info/advice about that? I've often flirted with the idea of online freelancing for overseas companies... But a lot of the freelancing sites either seem too dodgy/cheap, or elitist about "github" commits and the like.
The internet has got fair pricing. You can work for $10/hour or $300/hour. It depends on the value you bring, and your negotiations.
Now how to get the clients. I'll leave you to figure out that part on your own.
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#114Become French resident, you will have a guaranteed living income of 434Euros (600$)
With such small income you cannot live correctly in France.
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#115You 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 ;)
Sorry, I don't really understand this comment. (Not disagreeing, just don't understand the wording)
There is no "passive income". You just invest a huge amount of time up-front and get paid later.
What the OP wants is a higher pay, so he gets more free time.
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#116[deleted]
So... in other words, generate passive income by telling others how to generate passive income. (presumably you don't tell them the way to generate passive income is by telling others how to generate passive income because that would saturate the passive income training market no?)
And send it to ten of your friends! Don't break the chain!
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#117Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#1181) Find a niche area of interest and build a web site and put AdSense ads on it
2) Promote the website a bit
3) Profit.
The trick is working out what your niche is that hadn't already been done by someone else.
I lucked out with some websites in the UK about fuel consumption (for cars) a few years ago. I invested a weekend of my time and a little promotion effort and it snowballed - initially it made maybe £1 a month for the first year to 24 months but now I get about 150,000 hits a month which with ads earns a decent amount of money (more than you are looking for)
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#119Become French resident, you will have a guaranteed living income of 434Euros (600$)
Good luck to live on 600$/month
Re: Ask HN: How to start earning $500/month in passive income in next 12-18 months?
#120Kindle singles.
This is not entirely passive (at least, in my experience) because in order to get people to continue to buy your books long after they are published, you need to continue publishing (unless you hit the kindle lottery and are wildly successful immediately).