Passive Income?

  • Christian Chat is a moderated online Christian community allowing Christians around the world to fellowship with each other in real time chat via webcam, voice, and text, with the Christian Chat app. You can also start or participate in a Bible-based discussion here in the Christian Chat Forums, where members can also share with each other their own videos, pictures, or favorite Christian music.

    If you are a Christian and need encouragement and fellowship, we're here for you! If you are not a Christian but interested in knowing more about Jesus our Lord, you're also welcome! Want to know what the Bible says, and how you can apply it to your life? Join us!

    To make new Christian friends now around the world, click here to join Christian Chat.
B

blueluna5

Well-known member
#1
Jul 30, 2018
666
399
63
#1
Does anyone on here make a passive income or maybe you do trading/stocks? Would you be willing to provide some insight for it?

Dave Ramsey once said he saw a bumper sticker saying "I dreamed of the salary I'm now starving on." He said that's not funny bc it's so true.

Well that's how I feel. I went to college for 5 years and paid my student loans. I keep going into debt bc I simply don't have enough money. I put food back and we can't afford a 2nd car.

I realize the name it/claim it group are into mansions and cars for 100 grand. That's not me. It would be nice to go on a vacation (haven't in 4 years) or to have another car even for emergencies. God has always provided. I've never starved (picturing the meme about being on a diet? No I'm just broke). Jk

I'd like to spend an hour a day on a side job that's worth my time. I put in 40 hours a week but it's salary so there's no overtime pay. I should also mention i love my job as it's a work from home job. I have 2 small kids. Its soo helpful. Any suggestions for a side job?
 
MsMediator

MsMediator

Well-known member
#2
Mar 8, 2022
1,151
756
113
#2
The only thing I can think of are part-time work from home jobs which allow flexible hours, but I am not sure if you have time for that. I know a couple of elderly people who are insurance agents who work from home and they seem to have flexible hours. I can't really think of passive income except rental income, it is relatively stress free if you find a good tenant. Trading stocks is high risk and requires a lot of research; you can't have a passive income there except through dividends but that would require a large amount of investment to begin with.
 
MessengerofTruth

MessengerofTruth

Well-known member
#3
Dec 21, 2022
688
435
63
#3
blueluna5 said:
Does anyone on here make a passive income or maybe you do trading/stocks? Would you be willing to provide some insight for it?

Dave Ramsey once said he saw a bumper sticker saying "I dreamed of the salary I'm now starving on." He said that's not funny bc it's so true.

Well that's how I feel. I went to college for 5 years and paid my student loans. I keep going into debt bc I simply don't have enough money. I put food back and we can't afford a 2nd car.

I realize the name it/claim it group are into mansions and cars for 100 grand. That's not me. It would be nice to go on a vacation (haven't in 4 years) or to have another car even for emergencies. God has always provided. I've never starved (picturing the meme about being on a diet? No I'm just broke). Jk

I'd like to spend an hour a day on a side job that's worth my time. I put in 40 hours a week but it's salary so there's no overtime pay. I should also mention i love my job as it's a work from home job. I have 2 small kids. Its soo helpful. Any suggestions for a side job?
Click to expand...
Do you have a hobby you could sell? Some people do sewing or refurbishing furniture.
 
MessengerofTruth

MessengerofTruth

Well-known member
#4
Dec 21, 2022
688
435
63
#4
MsMediator said:
it is relatively stress free if you find a good tenant.
Click to expand...
That's a Big If.

I have family and friends that have rental properties, and it is becoming a bigger headache for them daily. I've even helped to clean up some of these properties. It is almost indescribable how awful they were.

I would warn to do some homework on that before seriously considering it.
 
maxwel

maxwel

Senior Member
#5
Apr 18, 2013
9,526
2,609
113
#5
First, beware of definitions.
Passive income doesn't mean "free money." It usually refers to money that comes in indirectly, or comes in through residuals... but it doesn't come in without some kind of work or investment. If someone claims otherwise, they're lying.

So if some kind of work or investment is required, you should consider this carefully just like any other job. It's going to cost you real time or real money.

I'd recommend you just do some research on part-time jobs you can do from home. You could also google "passive income" and then sort through all the scams. But anything that's going to make you money will either cost time or money. Also, be aware, when you step outside of your current field, and step into something unknown, your lack of experience in a new field makes you a prime candidate for being scammed. Be sure to check everything out.

On the bright side.... there are always ways to make extra money if you're willing to put in the effort.
: )
.

.
 
Lynx

Lynx

Folksy yet erudite
#6
Aug 13, 2014
27,662
9,600
113
#6
blueluna5 said:
Dave Ramsey once said he saw a bumper sticker saying "I dreamed of the salary I'm now starving on." He said that's not funny bc it's so true.
Click to expand...
This reminds me so much of that survey somebody once did across all economic ranges, from subsistence living to those who made more than 200,000 a year. They asked people how much they made, and how much they thought they would be happy with.

Turns out it doesn't matter how much people make. All of them thought they would be happier if they made 20% more than whatever they were making at the time. I'm not sure why that percentage is the magic ratio, but there it is.
 
B

blueluna5

Well-known member
#7
Jul 30, 2018
666
399
63
#7
MessengerofTruth said:
That's a Big If.

I have family and friends that have rental properties, and it is becoming a bigger headache for them daily. I've even helped to clean up some of these properties. It is almost indescribable how awful they were.

I would warn to do some homework on that before seriously considering it.
Click to expand...
Right, my husband won't go for rental properties bc the government cares more for the renters than the landlords. My cousin does well with it but it was a headache at first and they inherited it. They initially had bad tenants.
 
B

blueluna5

Well-known member
#8
Jul 30, 2018
666
399
63
#8
maxwel said:
First, beware of definitions.
Passive income doesn't mean "free money." It usually refers to money that comes in indirectly, or comes in through residuals... but it doesn't come in without some kind of work or investment. If someone claims otherwise, they're lying.

So if some kind of work or investment is required, you should consider this carefully just like any other job. It's going to cost you real time or real money.

I'd recommend you just do some research on part-time jobs you can do from home. You could also google "passive income" and then sort through all the scams. But anything that's going to make you money will either cost time or money. Also, be aware, when you step outside of your current field, and step into something unknown, your lack of experience in a new field makes you a prime candidate for being scammed. Be sure to check everything out.

On the bright side.... there are always ways to make extra money if you're willing to put in the effort.
: )
.

.
Click to expand...
Yes I don't think of passive as free, but I know what you mean.

Looking for something that builds on itself. For example YouTube (although it's super hard to make a living from it). The videos and work are there forever. Therefore you are getting paid for work from the past. I'm tired of the rat race 1:1 work: money ratio. But maybe that's naive.
 
A

arthurfleminger

Well-known member
#9
Aug 18, 2021
1,405
780
113
#9
blueluna5 said:
Does anyone on here make a passive income or maybe you do trading/stocks? Would you be willing to provide some insight for it?

Dave Ramsey once said he saw a bumper sticker saying "I dreamed of the salary I'm now starving on." He said that's not funny bc it's so true.

Well that's how I feel. I went to college for 5 years and paid my student loans. I keep going into debt bc I simply don't have enough money. I put food back and we can't afford a 2nd car.

I realize the name it/claim it group are into mansions and cars for 100 grand. That's not me. It would be nice to go on a vacation (haven't in 4 years) or to have another car even for emergencies. God has always provided. I've never starved (picturing the meme about being on a diet? No I'm just broke). Jk

I'd like to spend an hour a day on a side job that's worth my time. I put in 40 hours a week but it's salary so there's no overtime pay. I should also mention i love my job as it's a work from home job. I have 2 small kids. Its soo helpful. Any suggestions for a side job?
Click to expand...

I have a number of passive income stocks and real estate investment trusts that I've acquired over many years as an investor. The problem is that an investor in these stocks needs to have some capital in order to buy them.

I am only a long term investor, not a trader. And, because I'm okay financially, I let the dividends reinvest in buying more shares of each stock.

Now, I never give any investment advice to anyone. Each investor is unique as to his/her objectives and risk factors. So, I'm not giving you any advice. But I will tell you some of the investments I have.

1. AGNC Investment Corp (Stock symbol is AGNC) annual dividend of 12.9%

2. Blackstone Corp (BX) annual dividend 4.55%

3. TWO Harbors Investment Corp (TWO) annual dividend of 14%

4. AT&T (T) annual dividend of 5.8%

5. Gladstone Investment Corp (GAIN) 6.8%

6. Greystone Housing Impact Corp (GHI) 7.9%

7. A couple of utilities, First Energy (FE) at 3.9% and Xcel Energy (XEL) at 2.8%

There are many such passive stock and real estate investments such as these. It is important that you pick quality companies that make profits and it's very important that you diversify. Keep in mind that you need to have capital to invest in these stocks, but major investment firms like Fidelity or Ameritrade charges any fees for buying shares. Also they will provide you with advice.

As I said, I offer no advice, I only tell you what I've done and am doing. If you think it's a pie in the sky story, I'll tell you that I was a blue collar worker and never made more than $40k a year. But I made it a point to invest some part of my earnings regularly.

The most important point I've learned about financial success: STAY OUT OF DEBT!!!!!!!!!!!!! live within your means and invest somewhere, land/metals/stocks, you gotta invest for your future.

Do your own research and do it while you are young. Time passes quickly. It's good you're thinking about these things. It's hard to be old. It's hard to be poor. But it's really hard to be old and poor!!!!!! Good luck and good fortunes!!!!!!!
 
maxwel

maxwel

Senior Member
#10
Apr 18, 2013
9,526
2,609
113
#10
blueluna5 said:
Yes I don't think of passive as free, but I know what you mean.

Looking for something that builds on itself. For example YouTube (although it's super hard to make a living from it). The videos and work are there forever. Therefore you are getting paid for work from the past. I'm tired of the rat race 1:1 work: money ratio. But maybe that's naive.
Click to expand...
Most professional youtubers spend an average of 8 hours, or more, per video.
You have to consider research, writing, shooting, editing etc.
Then you have to add time for marketing: running your website, running your social media, learning SEO, and doing whatever other mktg you need.
And although some videos gain traction over time, the average video gets the majority of it's views in the first few days.
I wouldn't consider it passive income.

If that's a route you want to take, that's all good. But regardless of the route you take, you just want to be aware of what you're getting into.

If you just want a little extra money, you should look into some simple work-from-home jobs... something that will just pay you by the hour, or by the project. That's the easiest thing.
But if you want something long term, that can turn into a full time career, then you should really take your time, and look at a lot of different things. Take your time.

Good luck with everything!
.
 
A

arthurfleminger

Well-known member
#11
Aug 18, 2021
1,405
780
113
#11
arthurfleminger said:
I have a number of passive income stocks and real estate investment trusts that I've acquired over many years as an investor. The problem is that an investor in these stocks needs to have some capital in order to buy them.

I am only a long term investor, not a trader. And, because I'm okay financially, I let the dividends reinvest in buying more shares of each stock.

Now, I never give any investment advice to anyone. Each investor is unique as to his/her objectives and risk factors. So, I'm not giving you any advice. But I will tell you some of the investments I have.

1. AGNC Investment Corp (Stock symbol is AGNC) annual dividend of 12.9%

2. Blackstone Corp (BX) annual dividend 4.55%

3. TWO Harbors Investment Corp (TWO) annual dividend of 14%

4. AT&T (T) annual dividend of 5.8%

5. Gladstone Investment Corp (GAIN) 6.8%

6. Greystone Housing Impact Corp (GHI) 7.9%

7. A couple of utilities, First Energy (FE) at 3.9% and Xcel Energy (XEL) at 2.8%

There are many such passive stock and real estate investments such as these. It is important that you pick quality companies that make profits and it's very important that you diversify. Keep in mind that you need to have capital to invest in these stocks, but major investment firms like Fidelity or Ameritrade charges any fees for buying shares. Also they will provide you with advice.

As I said, I offer no advice, I only tell you what I've done and am doing. If you think it's a pie in the sky story, I'll tell you that I was a blue collar worker and never made more than $40k a year. But I made it a point to invest some part of my earnings regularly.

The most important point I've learned about financial success: STAY OUT OF DEBT!!!!!!!!!!!!! live within your means and invest somewhere, land/metals/stocks, you gotta invest for your future.

Do your own research and do it while you are young. Time passes quickly. It's good you're thinking about these things. It's hard to be old. It's hard to be poor. But it's really hard to be old and poor!!!!!! Good luck and good fortunes!!!!!!!
Click to expand...
I meant to say that investment firms like Fidelity or Ameritrade do not charge fees for buying and selling stocks. And you can ask their financial advisors questions without paying them. Free services.
 
R

RichMan

Guest
#12
#12
blueluna5 said:
Does anyone on here make a passive income or maybe you do trading/stocks? Would you be willing to provide some insight for it?

Dave Ramsey once said he saw a bumper sticker saying "I dreamed of the salary I'm now starving on." He said that's not funny bc it's so true.

Well that's how I feel. I went to college for 5 years and paid my student loans. I keep going into debt bc I simply don't have enough money. I put food back and we can't afford a 2nd car.

I realize the name it/claim it group are into mansions and cars for 100 grand. That's not me. It would be nice to go on a vacation (haven't in 4 years) or to have another car even for emergencies. God has always provided. I've never starved (picturing the meme about being on a diet? No I'm just broke). Jk

I'd like to spend an hour a day on a side job that's worth my time. I put in 40 hours a week but it's salary so there's no overtime pay. I should also mention i love my job as it's a work from home job. I have 2 small kids. Its soo helpful. Any suggestions for a side job?
Click to expand...
If you and your husband both work, I find it hard to understand why you have such a hard time making it.
If it cost so much to live where you do, you might consider moving.
Debt is never the answer. Just adds to the cost.
 
PennEd

PennEd

Senior Member
#13
Apr 22, 2013
13,612
9,127
113
#13
blueluna5 said:
Does anyone on here make a passive income or maybe you do trading/stocks? Would you be willing to provide some insight for it?

Dave Ramsey once said he saw a bumper sticker saying "I dreamed of the salary I'm now starving on." He said that's not funny bc it's so true.

Well that's how I feel. I went to college for 5 years and paid my student loans. I keep going into debt bc I simply don't have enough money. I put food back and we can't afford a 2nd car.

I realize the name it/claim it group are into mansions and cars for 100 grand. That's not me. It would be nice to go on a vacation (haven't in 4 years) or to have another car even for emergencies. God has always provided. I've never starved (picturing the meme about being on a diet? No I'm just broke). Jk

I'd like to spend an hour a day on a side job that's worth my time. I put in 40 hours a week but it's salary so there's no overtime pay. I should also mention i love my job as it's a work from home job. I have 2 small kids. Its soo helpful. Any suggestions for a side job?
Click to expand...
Doordash, Uber, Grubhub, Etc..

I do these on the side when I feel like it. I usually average between $20 - $30 an hour, after gas. Turn it on when you want, stop when you want.
 
Cameron143

Cameron143

Well-known member
#14
Mar 1, 2022
20,033
6,857
113
62
#14
I've had passive income all my life. Every paycheck, I pass it right along.
 
Lynx

Lynx

Folksy yet erudite
#15
Aug 13, 2014
27,662
9,600
113
#15
PennEd said:
Doordash, Uber, Grubhub, Etc..

I do these on the side when I feel like it. I usually average between $20 - $30 an hour, after gas. Turn it on when you want, stop when you want.
Click to expand...
Now I'm trying to figure out why nobody has made a video game about that yet. Open world sim, set in a medium-sized city, and your task is to get the maximum number of orders to the maximum number of houses in the minimum time. Memorize where key strategic gas stations are so you can spend less time hunting one when you need your refuel. Spend your profit paying rent, upgrading your car, upgrading the phone that is your lifeline to the job...
 
T

ThereRoseaLamb

Well-known member
#16
Jan 17, 2023
4,822
2,084
113
#16
PennEd said:
Doordash, Uber, Grubhub, Etc..

I do these on the side when I feel like it. I usually average between $20 - $30 an hour, after gas. Turn it on when you want, stop when you want.
Click to expand...

I have never used any of these. I would worry about the safety. I live in a fairly small town area and a young man delivering pizza was beaten senseless for his money. They did find the couple that did it. But damage is already done.
 
T

ThereRoseaLamb

Well-known member
#17
Jan 17, 2023
4,822
2,084
113
#17
Lynx said:
Now I'm trying to figure out why nobody has made a video game about that yet. Open world sim, set in a medium-sized city, and your task is to get the maximum number of orders to the maximum number of houses in the minimum time. Memorize where key strategic gas stations are so you can spend less time hunting one when you need your refuel. Spend your profit paying rent, upgrading your car, upgrading the phone that is your lifeline to the job...
Click to expand...
Nah, they're too busy making trans sims and being woke. smh
 
PennEd

PennEd

Senior Member
#18
Apr 22, 2013
13,612
9,127
113
#18
ThereRoseaLamb said:
I have never used any of these. I would worry about the safety. I live in a fairly small town area and a young man delivering pizza was beaten senseless for his money. They did find the couple that did it. But damage is already done.
Click to expand...
Well, I’m sure there’s not zero risk, but the people pay for the food before you bring it. I don’t drive people anymore. Didn’t like it.

95% of the time I just need to leave it at their door and take a picture.

A person could get accosted just about anywhere these days regardless if you’re delivering or not.
 
T

ThereRoseaLamb

Well-known member
#19
Jan 17, 2023
4,822
2,084
113
#19
blueluna5 said:
Does anyone on here make a passive income or maybe you do trading/stocks? Would you be willing to provide some insight for it?

Dave Ramsey once said he saw a bumper sticker saying "I dreamed of the salary I'm now starving on." He said that's not funny bc it's so true.

Well that's how I feel. I went to college for 5 years and paid my student loans. I keep going into debt bc I simply don't have enough money. I put food back and we can't afford a 2nd car.

I realize the name it/claim it group are into mansions and cars for 100 grand. That's not me. It would be nice to go on a vacation (haven't in 4 years) or to have another car even for emergencies. God has always provided. I've never starved (picturing the meme about being on a diet? No I'm just broke). Jk

I'd like to spend an hour a day on a side job that's worth my time. I put in 40 hours a week but it's salary so there's no overtime pay. I should also mention i love my job as it's a work from home job. I have 2 small kids. Its soo helpful. Any suggestions for a side job?
Click to expand...

If you do any kind of crafting. I have made income, especially around Christmas. A million videos for ideas. I made pillow around the holidays with place-mats and had so many ask about it that I might try it for the holiday season this year. You can do shows, some local stores will take them. Different ways with little money invested.

I have never looked into it but I know a lady who added a kitchen to her home and made fudge. Just different types of fudge. She started selling out of her home and this year she has a store front in town.
 
T

ThereRoseaLamb

Well-known member
#20
Jan 17, 2023
4,822
2,084
113
#20
PennEd said:
Well, I’m sure there’s not zero risk, but the people pay for the food before you bring it. I don’t drive people anymore. Didn’t like it.

95% of the time I just need to leave it at their door and take a picture.

A person could get accosted just about anywhere these days regardless if you’re delivering or not.
Click to expand...
That does sound safer and it is true, you never know these days who is going to snap. Just getting groceries is a risk. I pray for my family and friends all the time for protection.
 
You must log in or register to reply here.