Hi everyone!
Today I thought I would write a more interactive post than I usually do, and would love to hear some feedback from you guys! I would really like to learn more about passive income (PI), and some ideas for creating passive income streams in my life.
Dividend Stocks
Since I am young, I am not planning on investing in any dividend stocks. I know this is a popular PI stream, but I am young enough where I can tolerate more risk and invest more in growth stocks….
Creating Own Product
Although this would be a very profitable option (if you create a quality product), as a high school student starting up classes again in a few weeks I don’t really have the time! Plus if I created a book I don’t think it would be very good, I’m more of a math guy than writing guy….
Social Media
This is an interesting option that I have played around a bit with. I think this would be the easiest option for me due to my schedule, and expertise as a teen with social media. Basically, if you get enough followers, you can start advertising/become an affiliate and earn cash this way. Probably the route I will take…
You Guys!
Let me know your guys’ passive income streams and let me know any ideas you have for me! I guess I am pretty much open to anything!
Looking forward to hearing from you…
thewannabemillionaire 
Wow, you are in high school and already, I can see you are going places! Take the time to listen to your inner voice, and allow it to guide your next steps! I didn’t make that up BTW. I got that from a podcast called “The School of Greatness”. I’m sure you’ve heard of it, but if not, go to http://www.lewishowes.com and chock it out. Best of luck in all of your future endeavors.
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Thank you for reading, I will be sure to check out the podcast!
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Well as u said u r young u can still opt for pure equities . only thing is have good knowledge on the sector where u r investing…
I prefer investing more in mutual funds than in direct equities as u don’t have to time market.
My simple thumb rule is whatever ur age is invest that much % in debt funds and rest in equities..
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That’s some good advice! I know little about debt funds so I will have to look more into it but thank you!
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I didn’t know you could use social media as passive income. Great information.
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You can you just have to be good at it haha!
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I’ve been too lazy on it lately.
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Earning relatively passive income from capital is certainly possible. Here are a couple of my old posts that indicate how you can make superior, low risk returns with your capital in equities. There is some work, and there is some risk, but these ideas aren’t in the high risk category.
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Thanks for the advice!
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Man, I wish I would have had your mindset at 18! Good for you! I’m also trying to use social media, particularly Instagram. Photography is a hobby of mine, and selling prints is tough. So the best way, I figure, to make money off of it is to get enough Instagram followers that I can start doing sponsored posts. I’m using a service called Boostgram right now. It’s $99/month, but to me it’s worth it. I’m currently adding over 100 followers per day. Theoretically you could do the same thing for free, just go like a ton of photos and follow, then later unfollow, a ton of people. I was doing the follow/unfollow thing on my own prior to that, but the engagement level with that is pretty low. I think the best thing to do is like a ton of photos, because then those people that follow you are doing so just because they like your feed, not just because you followed them.
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Thanks for the support! I know what you are saying about the instagram thing, and once you can get those sponsored posts you can make money pretty regularly. However, I have found it hard to find a good amount of time to get a good start at it lately. Instead, I have been working on a Twitter account that seems to be doing pretty great so far, averaging about 5 retweets!
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Keep up the good work!
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Thank you very much!
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Nice post. If you are open to learning more about an low risk residual income stream, we should talk. I have two websites designed to peak interest in the Consumer Goods Manufacturng industry. Go to those sites and if you like want you see and/or hear, enter your contact information and I will reach out to you. The first website is http://www.Working2Free.,com, After you enter your contact info you will receive access to a short 8 min video. The second website is http://www.ChangingOurLife.com. There is a short 5 minute video on this site. if you like it, you can then reach out by entering your contact info.
By the way, thanks for liking my blog on The Power of Residual Income.
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Thank you, I will definitely be checking out those sites and contacting you in the near future!
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Rental real estate is one of the best
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Is there a way for me to get into real estate even though I don’t have very much money to put in right now?
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Well…you could partner with an investor or a team of investors. As you probably already know, it is a strategy called OPM (Other People’s Money). Your investors will typically want to have insight on the return they will receive from their investments so they can evaluate if the Risk/Reward trade-off is good or better than where they currently have their liquid cash. So, you would need to understand the Vacancy Rate, the ROI, the Payback Period, etc. on the real estate. A simple spreadsheet model could be built to provide you with insight on these items.
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I had never heard of this strategy but I will definitely check it out! I think if I were to invest in real estate soon it would probably be through a crowdfunding site like reality shares!
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Tyler – with time invest, knowledge will come, with knowledge acquired, money will follow. i sugguest you check out http://www.biggerpocket.com and buy the book “The Book on Investing In Real Estate with No (and Low) Money Down” By Brandon Tuner on amazon. check out the site, friend me on it, read the book and let me know how you like it
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Here is a good read: http://www.businessinsider.com/why-you-should-have-multiple-streams-of-income-2016-6
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