Passive Income?

cerebus said:
IMO you need to hustle to earn more money in your career. Quit dreaming about passive incomes. Use your spare time to educate and skill up. Pull in extra hours if you possibly can. Find areas in your field that pay better and figure out how to get in there. Don't make excuses for yourself.
Click to expand...

Also this, OP how did you manage to remain to be a buyer only for such a long time?
 
cerebus said:
IMO you need to hustle to earn more money in your career. Quit dreaming about passive incomes. Use your spare time to educate and skill up. Pull in extra hours if you possibly can. Find areas in your field that pay better and figure out how to get in there. Don't make excuses for yourself.
Click to expand...

What do you generally do with this extra money?
 
bchip said:
No skills required:
Youtube
Paid Surveys
Data capturing

Skills required:
Freelancer
Upwork
Sideline work in your industry
Click to expand...
Bluechip, please provide more details on the paid surveys and data capturing work. Are there some links that you can share?
 
Have you tried asking for a raise or applying for a promotion at work?
Have you tried looking for a better paying job?
 
Fireblade74 said:
To be honest not much I've been a buyer for 17 years for construction and mining companies. Not sure if that would help, pretty much an old fashion type of guy.
Click to expand...
How old are your kids?
You might be lucky in that they'll be working soon and earning their own money.

You could then look at rental income.
 
You need capital. Buy stocks or crypto currency that pay dividends. Example coke or microsoft, or Cardano.
 
gamer16 said:
Just make it known that you are not a registered company, stay within the laws and codes of practice and read the competitions act 10 times as it will bite you if you are not careful.
Click to expand...

Also, if he's employed full time to get permission since employers generally frown upon side businesses that are related or conflict. Side businesses are great but you can have a real issue if they aren't kept completely separate and unrelated.
 
Marcell1992 said:
You need capital. Buy stocks or crypto currency that pay dividends. Example coke or microsoft, or Cardano.
Click to expand...
Cryptocurrencies don't pay dividends, it's like buying gold or a painting. To realise any gains you need to sell all or part of the asset. You're just hoping that the value goes up. Sometimes it does, sometimes it doesn't.

Dividend-paying shares (stocks, securities, whatever you want to call them) is a well-established method to get an income, they pay between once and four times per year if that do at all, and when they do you retain just the same assets you had previously. I used to do that. All the banks for example pay pretty good dividends. Some companies don't pay any, the famous example is Berkshire Hathaway. There are various reasons for this, one of which is tax efficiency.

Pros: it's pretty easy, you can start with as little as a few Rand with a platform like Easy Equities, and it doesn't need to take a whole lot of work.

Cons: dividend yields are generally not huge, so if you're looking for an income, it's going to take a large investment until you see something worthwhile. It also can be a lot of work to keep track of the companies to make sure you're not buying a lemon. It may be easier to buy a dividend-focused ETF such as Satrix DIVI (this is my current preferred approach).
 
@Fireblade74 You might want to check out Chris Guillebeau for some inspiration.

I have his books $100 startup and Side Hustle which you might find relevant. 4 hour Work week by Tim Ferris is in a related vein.

Consultancy type work is great for a side hustle so you could apply your experience as a buyer in this way. Digital or virtual products also score highly as you can get going at fairly low cost and automate much of the sales and marketing processes.
 
newby_investor said:
Cryptocurrencies don't pay dividends, it's like buying gold or a painting. To realise any gains you need to sell all or part of the asset. You're just hoping that the value goes up. Sometimes it does, sometimes it doesn't.

Dividend-paying shares (stocks, securities, whatever you want to call them) is a well-established method to get an income, they pay between once and four times per year if that do at all, and when they do you retain just the same assets you had previously. I used to do that. All the banks for example pay pretty good dividends. Some companies don't pay any, the famous example is Berkshire Hathaway. There are various reasons for this, one of which is tax efficiency.

Pros: it's pretty easy, you can start with as little as a few Rand with a platform like Easy Equities, and it doesn't need to take a whole lot of work.

Cons: dividend yields are generally not huge, so if you're looking for an income, it's going to take a large investment until you see something worthwhile. It also can be a lot of work to keep track of the companies to make sure you're not buying a lemon. It may be easier to buy a dividend-focused ETF such as Satrix DIVI (this is my current preferred approach).
Click to expand...

You don't know much about crypto I see xD. Cardano pays dividends, obviously in crypto form which you convert to cash, neo pays dividends in the same way. I'm sure there's more but those are the ones I can think of right now.

Also, to add to the passive income part, find a niche market and write about it on Steemit. The more up votes you get, the more money you earn. Some of the top dogs I see earn 100 usd+ per article.
 
Marcell1992 said:
You don't know much about crypto I see xD. Cardano pays dividends, obviously in crypto form which you convert to cash, neo pays dividends in the same way. I'm sure there's more but those are the ones I can think of right now.

Also, to add to the passive income part, find a niche market and write about it on Steemit. The more up votes you get, the more money you earn. Some of the top dogs I see earn 100 usd+ per article.
Click to expand...

Money paying dividends? I'd head back and read up about that if I were you. I'd be very wary of money coming from nothing.
 
newby_investor said:
Money paying dividends? I'd head back and read up about that if I were you. I'd be very wary of money coming from nothing.
Click to expand...

Again, you're the one that should read up on Crypto some more.
Take Neo for example, if you own it in a wallet or exchange that pays dividends, you earn Neo Gas which you can sell for BTC and convert to cash. Neo, like Ethereum isn't just a currency, in order to write apps on the Neo network, you need to use gas, therefore it isn't "something out of nothing". Neo holders generate gas which they can sell to developers to use to create apps on the Neo network. Right now dividends is quite good:
https://neotogas.com/ you're earning roughly a 2.21% dividend per month.
 
The best way to earn a passive income in South Africa is to build some sort of Software-As-A-Service (SaaS) product and then charge users a monthly subscription to use it. Once you get traction in South Africa, you start selling it overseas in dollars using Paypal and earn foreign currency.
 
Fireblade74 said:
As a single father raising 2 kids what would be the best form of earning a passive income? I work full time but barely make ends meat and would like to provide a better life style for my kids.
Is there anything out there that's easy enough and does't take up all your spare time? I don't want to roll in the doe but at least have some sort of back up.
Click to expand...
You can become a BLF / EFF / ANC voter.
 
Buy and sell stuff on Gumtree? If you obviously have experience in that
 
bchip said:
No skills required:
Youtube
Paid Surveys
Data capturing

Skills required:
Freelancer
Upwork
Sideline work in your industry
Click to expand...
Would also like to know where you find out more about the no skills required tasks. What sites have you used that really work for you?
 
kabusi said:
Would also like to know where you find out more about the no skills required tasks. What sites have you used that really work for you?
Click to expand...

Youtube was the only 1 that paid out. Made $3

The others never quite figured them out.

On upwork someone is looking for people to read sentences in "South African" english.
The whole job pays $14 / R200

Would stick to places like upwork and freelancer though.
 
bchip said:
Youtube was the only 1 that paid out. Made $3

The others never quite figured them out.

On upwork someone is looking for people to read sentences in "South African" english.
The whole job pays $14 / R200

Would stick to places like upwork and freelancer though.
Click to expand...
Thanks. Does not sound worth the effort unless there are tricks to maximising.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X