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Do you have a passive income scheme?

Brokerage accounts (regular taxable + IRA rollover), 401k, company stock, "high interest" 😛 online savings account.

Truly passive not a side job, since I just buy and hold index funds forever instead of trading and stock picking.
 
I did try investing in mutual funds a long time ago.
The one I was advised to pick tanked horribly and I lost about 99 percent of my money.
Mom set me up with an allegedly smart, well-paid advisor.
I dont trust them anymore. If they actually knew what the fuck they were doing, they'd be out there making money off the markets, not telling other people their secrets.
 
shortylickens said:
I did try investing in mutual funds a long time ago.
The one I was advised to pick tanked horribly and I lost about 99 percent of my money.
Mom set me up with an allegedly smart, well-paid advisor.
I dont trust them anymore. If they actually knew what the fuck they were doing, they'd be out there making money off the markets, not telling other people their secrets.
Click to expand...

Financial advisers and actively-traded stock-picker funds are both bad choices for most people.

That's why you buy low-expense major index mutual funds or ETFs (S&P 500, total US stock market, or a Target <year> fund) yourself from Vanguard (no financial adviser), and hold them forever.

They've never lost 99% of their value. During the last recession they lost >25% percent for a short while but if you just left them alone instead of panic-selling they recovered nicely after a few years. And the new shares I added during the recession grew very nicely.
 
DaveSimmons said:
Financial advisers and actively-traded stock-picker funds are both bad choices for most people.

That's why you buy low-expense major index mutual funds or ETFs (S&P 500, total US stock market, or a Target <year> fund) yourself from Vanguard (no financial adviser), and hold them forever.

They've never lost 99% of their value. During the last recession they lost >25% percent for a short while but if you just left them alone instead of panic-selling they recovered nicely after a few years. And the new shares I added during the recession grew very nicely.
Click to expand...

My investment was in the AIM Constellation Fund, I think. Cant really remember now.
It was around 1996 or so and it did OK for a while then one year it took a nose dive. I cashed out and heard it slowly climbed back up many years later.

Oh well.
 
No but I should probably try to figure something out. Costs of living are only going to keep going up, will eventually need that extra income coming in. That and if it ends up making LOT of money it would be great not needing a day job.

I have google adsense on my sites but that hardly counts, I get a cheque like every couple months maybe.

At one point I wanted to get into web hosting because once it's setup it's fairly easy to manage, but seeing web hosting companies offering 10TB+ worth of disk space and unlimited bandwidth for like $12/year makes it impossible to even have a chance at competing.
 
For truly passive, my 401k and IRA accounts. I'm hoping to retire early, or at least semi-retire - I'll work on hobbies that produce some income (enough to at least cover healthcare costs until I hit age 62 or 65) and/or find some menial part-time jobs that get me out of the house a few days a week.

Until then, I want to start some side gigs/hobbies that could help speed things up. Woodworking, retro console/arcade restorations/upgrades, maybe custom arcade cabinet builds.
 
Microsoft Rewards. Get points to do web searches with Bing and then cash points into Amazon gift cards. After 34 years of web searches you can get a $5 Amazon GC.
 
pete6032 said:
Microsoft Rewards. Get points to do web searches with Bing and then cash points into Amazon gift cards. After 34 years of web searches you can get a $5 Amazon GC.
Click to expand...
Actually it takes me about a month for 5000 points (Amazon GC is 5250 now I believe). Dude, from since I started until now I've earned 23 $5 cards which totals $115 of free money. Plus I've had a couple Hulu one-month subscriptions and contest entries (I will win a Surface goddamnit). I like it!
 
clamum said:
Actually it takes me about a month for 5000 points (Amazon GC is 5250 now I believe). Dude, from since I started until now I've earned 23 $5 cards which totals $115 of free money. Plus I've had a couple Hulu one-month subscriptions and contest entries (I will win a Surface goddamnit). I like it!
Click to expand...

Two years of not finding what I'm looking for in Bing search for just $115 isn't worth it to me, but if it works for you then enjoy.
 
Income based investing where I invest only in ETF's that pay a monthly dividend. It starts off slow but after you've been investing in it a few years there's no easier free money out there. In ~12 years I'll hit the point where I make monthly the same amount that I am currently investing monthly.
 
highland145 said:
Bull

Shit


You terrorize children which has it's own perks.



jelly
Click to expand...

Well...yeah, but I'll gladly do that for free...it's my favorite source of entertainment...

During the winter months, when I grow my (increasingly) white beard out, little kids look at me to see if I might be Santa...l growl at them... 😀
 
BoomerD said:
Well...yeah, but I'll gladly do that for free...it's my favorite source of entertainment...

During the winter months, when I grow my (increasingly) white beard out, little kids look at me to see if I might be Santa...l growl at them... 😀
Click to expand...
lol

"You ain't getting shit for Christmas, you little turd."

😀
 
BoomerD said:
Well...yeah, but I'll gladly do that for free...it's my favorite source of entertainment...

During the winter months, when I grow my (increasingly) white beard out, little kids look at me to see if I might be Santa...l growl at them... 😀
Click to expand...

You should wear some vampire teeth and then when they go to sit on your lap you smile at them and tell them they've been very naughty.
 
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