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.
Jaxson Cox
How much did it cost to do all the paper work for those patents though?
Brandon Hall
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!
Jayden Young
>> rental properties don't work
Topmost kekeroo
John Thompson
I thought it was a german immigrant prostitute students exchange forum.
Josiah Lewis
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.
Gabriel Young
>did you also publish books which have no success? no. everything OP has done in life is brilliant and magical, can't you read?
Luis Scott
>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.
Landon Bailey
brb patenting gene replicating technology.
Gavin Scott
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.
Kayden Long
>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.
Carson Martin
How much do you get taxed?
Ethan Walker
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"
Brayden Rodriguez
passive income is passive income.
even if you are only making 9.00 a year in dividends.. it is still passive.
Joshua Foster
>mining de beers disagrees
Juan Carter
An average of 39k a year, for the past 5 years. I have a perscription that I can claim that lowers it about 3k.
Connor Ward
>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?
Parker Wood
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.
Brayden Rivera
So where's the guide? Or did you just come here to brag?
Carter Nguyen
>gene replication technology Holy shit, are people on Veeky Forums actually this gullible? My god lol
Xavier Bailey
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?
Austin Wilson
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.
Landon Edwards
Seriously, I made a lot of money today.
Where can I find one of these?
Henry Ward
>inherited 10m >put in savings >get $100k taken out of savings per year >negative interest rates from yellen