Passive income is income that you don't have to work for after the initial investment.
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Passive income is income that you don't have to work for after the initial investment. So filling out surveys doesnt count as passive.
I'll boil it down. There are three ways to make money: hard work, gambling, and cheating.
Hard work is anything you do that provides value to other people. Flipping burgers at McDonalds makes you money because people want cheeseburgers. And investing in index funds makes you money because you are giving up your use of your money right now so that someone else who wants it more can use it. Examples of hard work that could lead to online income are finding a remote job, making custom porn (art, videos, erotica) for individuals, or filling out surveys. One way you might be able to make passive income online would be by making youtube videos explaining how to do things. Probably the best example of this that would be scalable and reliable is making DIY videos - people want to know how to replace the stereo in their 1995 Honda Civic. The instructions are confusing, and all the other videos online are grainy and poorly lit and have annoying intros and bad camera angles. Make a video with good production value, and you'll make money every time someone watches it.
Gambling is making money by taking a risk. Taking a risk has an inherent financial additive effect, because you could lose something, and because fewer people are willing to take higher risks. Want passive income via risk? Take your money to the casino and put it all on black every night. Most other risk-heavy strategies will also require a lot of Hard Work. High risk ways to earn money online would be something like playing online poker - which is not passive, since even after you've learned all the rules and strategies, you still have to play poker every day to keep the income rolling. A fairly passive way to make money online with high risk would be becoming some sort of celebrity, or providing a well-known service for pay: youtube stars, porn stars, popular websites with a paid subscription or banner ads, etc. Once the content is out there, just sit back and let the funds roll in... until someone else makes something better. And it is high risk because you can dedicate years of your life and dump your whole fortune into becoming famous, and still end up empty handed because the video you made that would have gone viral was released the same day as a terrorist attack.
Finally, there is cheating. This is anything that violates what we would consider the "normal" rules in economics. Snatching an old lady's purse on the street is cheating. So is taking advantage of facorable government regulations which protect your business while harming others. Ways to make money online by cheating: running scams, phishing/extortion, embezzlement (a la Office Space). Or making a search engine for your country when your country bans google. I'll note that all these strategies aren't necessarily unethical - they just break the normal rules of economics. Cheating is a great way to make money as long as you dont do anything that violates your personal ethical code.
I'm not sure exactly what you are looking for, but most likely it doesnt exist. There are very few arenas in life where you can just show up and get handed a pile of money for no reason. Creating a source of substantial passive income typically takes years or decades of hard work, often with more than a dash of risk. My recommendation is to learn some sort of skill or trade that you have some amount of enjoyment with, and which offers you a high wage. Then work in that field, be as good as you can be, and aggressively chase raises and promotions. While doing so, continue living cheaply. Invest the difference in index funds; solid, boring businesses (your own or friends') that are needed to keep the world turning; and real estate that you can personally add value to.
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Passive income is income that you don't have to work for after the initial investment. So filling out surveys doesnt count as passive.
I'll boil it down. There are three ways to make money: hard work, gambling, and cheating.
Hard work is anything you do that provides value to other people. Flipping burgers at McDonalds makes you money because people want cheeseburgers. And investing in index funds makes you money because you are giving up your use of your money right now so that someone else who wants it more can use it. Examples of hard work that could lead to online income are finding a remote job, making custom porn (art, videos, erotica) for individuals, or filling out surveys. One way you might be able to make passive income online would be by making youtube videos explaining how to do things. Probably the best example of this that would be scalable and reliable is making DIY videos - people want to know how to replace the stereo in their 1995 Honda Civic. The instructions are confusing, and all the other videos online are grainy and poorly lit and have annoying intros and bad camera angles. Make a video with good production value, and you'll make money every time someone watches it.
Gambling is making money by taking a risk. Taking a risk has an inherent financial additive effect, because you could lose something, and because fewer people are willing to take higher risks. Want passive income via risk? Take your money to the casino and put it all on black every night. Most other risk-heavy strategies will also require a lot of Hard Work. High risk ways to earn money online would be something like playing online poker - which is not passive, since even after you've learned all the rules and strategies, you still have to play poker every day to keep the income rolling. A fairly passive way to make money online with high risk would be becoming some sort of celebrity, or providing a well-known service for pay: youtube stars, porn stars, popular websites with a paid subscription or banner ads, etc. Once the content is out there, just sit back and let the funds roll in... until someone else makes something better. And it is high risk because you can dedicate years of your life and dump your whole fortune into becoming famous, and still end up empty handed because the video you made that would have gone viral was released the same day as a terrorist attack.
Finally, there is cheating. This is anything that violates what we would consider the "normal" rules in economics. Snatching an old lady's purse on the street is cheating. So is taking advantage of facorable government regulations which protect your business while harming others. Ways to make money online by cheating: running scams, phishing/extortion, embezzlement (a la Office Space). Or making a search engine for your country when your country bans google. I'll note that all these strategies aren't necessarily unethical - they just break the normal rules of economics. Cheating is a great way to make money as long as you dont do anything that violates your personal ethical code.
I'm not sure exactly what you are looking for, but most likely it doesnt exist. There are very few arenas in life where you can just show up and get handed a pile of money for no reason. Creating a source of substantial passive income typically takes years or decades of hard work, often with more than a dash of risk. My recommendation is to learn some sort of skill or trade that you have some amount of enjoyment with, and which offers you a high wage. Then work in that field, be as good as you can be, and aggressively chase raises and promotions. While doing so, continue living cheaply. Invest the difference in index funds; solid, boring businesses (your own or friends') that are needed to keep the world turning; and real estate that you can personally add value to.
Investment is more akin to gambling than work. You're taking on risk and not actively doing anything.
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Passive income is income that you don't have to work for after the initial investment. So filling out surveys doesnt count as passive.
I'll boil it down. There are three ways to make money: hard work, gambling, and cheating.
Hard work is anything you do that provides value to other people. Flipping burgers at McDonalds makes you money because people want cheeseburgers. And investing in index funds makes you money because you are giving up your use of your money right now so that someone else who wants it more can use it. Examples of hard work that could lead to online income are finding a remote job, making custom porn (art, videos, erotica) for individuals, or filling out surveys. One way you might be able to make passive income online would be by making youtube videos explaining how to do things. Probably the best example of this that would be scalable and reliable is making DIY videos - people want to know how to replace the stereo in their 1995 Honda Civic. The instructions are confusing, and all the other videos online are grainy and poorly lit and have annoying intros and bad camera angles. Make a video with good production value, and you'll make money every time someone watches it.
Gambling is making money by taking a risk. Taking a risk has an inherent financial additive effect, because you could lose something, and because fewer people are willing to take higher risks. Want passive income via risk? Take your money to the casino and put it all on black every night. Most other risk-heavy strategies will also require a lot of Hard Work. High risk ways to earn money online would be something like playing online poker - which is not passive, since even after you've learned all the rules and strategies, you still have to play poker every day to keep the income rolling. A fairly passive way to make money online with high risk would be becoming some sort of celebrity, or providing a well-known service for pay: youtube stars, porn stars, popular websites with a paid subscription or banner ads, etc. Once the content is out there, just sit back and let the funds roll in... until someone else makes something better. And it is high risk because you can dedicate years of your life and dump your whole fortune into becoming famous, and still end up empty handed because the video you made that would have gone viral was released the same day as a terrorist attack.
Finally, there is cheating. This is anything that violates what we would consider the "normal" rules in economics. Snatching an old lady's purse on the street is cheating. So is taking advantage of facorable government regulations which protect your business while harming others. Ways to make money online by cheating: running scams, phishing/extortion, embezzlement (a la Office Space). Or making a search engine for your country when your country bans google. I'll note that all these strategies aren't necessarily unethical - they just break the normal rules of economics. Cheating is a great way to make money as long as you dont do anything that violates your personal ethical code.
I'm not sure exactly what you are looking for, but most likely it doesnt exist. There are very few arenas in life where you can just show up and get handed a pile of money for no reason. Creating a source of substantial passive income typically takes years or decades of hard work, often with more than a dash of risk. My recommendation is to learn some sort of skill or trade that you have some amount of enjoyment with, and which offers you a high wage. Then work in that field, be as good as you can be, and aggressively chase raises and promotions. While doing so, continue living cheaply. Invest the difference in index funds; solid, boring businesses (your own or friends') that are needed to keep the world turning; and real estate that you can personally add value to.
wrote last edited by [email protected]So... I'm hearing bootstraps. Cool cool cool.
p.s. Meritocracy is a candy-coated lie.
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Investment is more akin to gambling than work. You're taking on risk and not actively doing anything.
I mean, really all the categories I outlined bleed into each other. Investment, imo, splits the difference between providing value to others and taking a risk, since there is a time value to money and also a value in identifying good investments, but, of course, there is also the risk of losing your money. Picking stocks on the stock market (assuming you aren't a hedge fund) is definitely gambling. But investing in index funds, imo, leans more on the side of leveraging the time value of money. The market - despite its flaws and periodic ups and downs - more or less tracks the overall productivity of all its constituent businesses. And so, barring some kind of apocalyptic economic collapse, we can expect the market to improve over time as technology improves.
You are basically making money the same way a bank makes money when they issue loans.
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So... I'm hearing bootstraps. Cool cool cool.
p.s. Meritocracy is a candy-coated lie.
wrote last edited by [email protected]I mean... yeah. What other message do you want to hear? Like, grand theories on socioeconomic stratification are great and all, but they aren't very relevant for individuals' lives.
What is relevant for individuals' lives are things they can actually do. Get a job. Get a better job. Negotiate a higher salary. Build out a social network. Learn a new skill. Start a new business. You might call this "bootstrapping", but it is clearly possible because millions of people do it every day.
One individual improving their own lives doesn't solve overarching trends of social inequity. But Social inequity also doesn't mean that it is impossible for individuals to improve their own lives.
