Guide to Passive Income

askme
askme

There seems to be a lot of talk about passive income on this board. Let me tell you from passive experience what works and what does not

Starting off with the does not work:
mining
dividends (unless you are crazy rich already)
adds
server hosting
rental properties (unless mortgage paid off)

What does work
patents
books

I make 40,600 by doing nothing

I have patent on a little industrial gene replication technology that pays 2800 every 3 months
I have a patent on an antigen testing method that pays 3600 every 3 months
I have a published book on biomedical technology that pays around 5000 a year
I wrote a few chapters in physical chemistry, neuroscience, and biochemistry text books that combined pay around 10000 each year

All this on top of normal work, and guess where this money is going?

Its not going into some shitty stocks but into funding my own research lab where college and high school students make more shit for me.

Burnblaze
Burnblaze

@askme
How much did it cost to do all the paper work for those patents though?

Firespawn
Firespawn

@askme
Great for you, OP. It seems you are so well off that you don't even feel the need to come brag on an online mongolian frog trading forum! Great stuff!

SniperGod
SniperGod

rental properties don't work

Topmost kekeroo

VisualMaster
VisualMaster

@Firespawn
I thought it was a german immigrant prostitute students exchange forum.

farquit
farquit

@askme
OP did you also publish books which have no success? I'm afraid that I'm not a great writer (especially as English is not my native language) but I have a good knowledge about some scientific topics. How much pages did you write and is it all your own research or also copied something from other books/papers?

Currently doing my master's and I think writing about the topic I'm studying wouldn't harm in my freetime.

TreeEater
TreeEater

@farquit
did you also publish books which have no success?
no. everything OP has done in life is brilliant and magical, can't you read?

StrangeWizard
StrangeWizard

@askme
rental properties (unless mortgage paid off)
doesn't work

But that's wrong

That's literally my entire business. Cash flow for 100+ a month (usually around 250) on a SFH, factoring in long term costs and random expenses, and generate equity, all the while being able to legally say my income off of them is negative on taxes because of depreciation.

Ignoramus
Ignoramus

brb patenting gene replicating technology.

Illusionz
Illusionz

@farquit
Yes I have published a lot of books (or for the most part co-authored) that failed

For the most part I do not fully publish any book, I just write a certain section. The success of the book usually depends on factors out of my control and it does suck when the book fails as a lot of time went into writing that section.

For co-authored books I usually regurgitate existing information and add a little of my research in if applicable

Most of my research goes into a journal after it is patented. I then loan those patents out to, usually, big pharam. They probs make millions of them but oh well.

The amount of writing is really relative and depends on the subject. For subjects like physical chemistry about half the writing is really just math. While if you were in, lets say, population genetics, that would be a lot more writing intensive.

Spazyfool
Spazyfool

@askme
inherited 10m
put in savings
get ~$100k per year
use that as spending money
still single and lonely
I mean if I wasnt so cheap I'd prolly have more friends.

Dreamworx
Dreamworx

@Spazyfool
How much do you get taxed?

Methshot
Methshot

@askme
Starting off with the does not work:
mining
dividends (unless you are crazy rich already)
adds
server hosting
rental properties (unless mortgage paid off)

"Everything that I can't pull off doesn't work"

TalkBomber
TalkBomber

@askme
passive income is passive income.

even if you are only making 9.00 a year in dividends.. it is still passive.

StonedTime
StonedTime

@askme

mining
de beers disagrees

Supergrass
Supergrass

@Dreamworx
An average of 39k a year, for the past 5 years. I have a perscription that I can claim that lowers it about 3k.

Spamalot
Spamalot

@Spazyfool
put it in savings

LEL dude. Have you thought of phasing that into a 60-40 portfolio and drawing 2-3% a year to increase quality of life?

Emberburn
Emberburn

@askme
Writing books and inventing technology sounds like work to me.

The real way to make money without doing anything is to have money. Money makes money. Put a million bucks into a low-risk, managed fund and make $50K per year.

WebTool
WebTool

@askme
So where's the guide?
Or did you just come here to brag?

StonedTime
StonedTime

@askme
gene replication technology
Holy shit, are people on Veeky Forums actually this gullible? My god lol

JunkTop
JunkTop

@StrangeWizard
Do you buy the homes then try to rent them out to long term tenants or do you rent out the other bedrooms to roommates?

Playboyize
Playboyize

@JunkTop
Long term rentals for the most part. Also very active in college towns, but that's an entirely separate world to work in. Higher turnover, higher vacancy, more work, but much higher margins. Properly set up with a good property management company, both can be passive. It's more profitable to be involved, and manage both my own, and other properties though because I'm
intimately familiar with the market here.

Plus, by being involved with my own company I can keep my fingers in the general contractor market with a few salaried blokes who won't go anywhere because the pay is just too good and they only get run ragged for a couple weeks a year. There's some real money there for certain niches, and it's very low effort for what you get.

Methnerd
Methnerd

@VisualMaster
Seriously, I made a lot of money today.

Where can I find one of these?

Supergrass
Supergrass

@Spazyfool
inherited 10m
put in savings
get $100k taken out of savings per year
negative interest rates from yellen

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