topic Re: Passive Income in SmorgasBoard

Passive Income

Repo-ed — Tue, 07 Jan 2014 13:35:19 GMT

Anyone here either create their own, or jump on something that is already in motion that's able to create Passive Income?

I've been looking at peer-to-peer lending, since I really have NO desire to create websites and search keywords, etc.

Any other ideas of passive income (Also learning forex trading through babypips and Infinit Prosperity)

Book suggestions (part of my 2014 and beyond plan - do more reading on anything)?

Re: Passive Income

llecs — Wed, 08 Jan 2014 04:16:03 GMT

Passive income is the way to go. Definitely pursue it in some form or another, whether by a large business or building a biz system or market, or through investments. There are some great podcasts out there like Entrepreneur on Fire or Smart Passive Income. IMO, the best thing you can do is find those who are able to do it and hang out with them. You become who you associate with.

Forex can be very risky if you don't know what you are doing. I lost a lot.

Re: Passive Income

Open123 — Wed, 08 Jan 2014 07:39:45 GMT

Hedge Funds.

Re: Passive Income

Repo-ed — Wed, 08 Jan 2014 13:27:03 GMT

@llecs wrote:
Passive income is the way to go. Definitely pursue it in some form or another, whether by a large business or building a biz system or market, or through investments. There are some great podcasts out there like Entrepreneur on Fire or Smart Passive Income. IMO, the best thing you can do is find those who are able to do it and hang out with them. You become who you associate with.

Forex can be very risky if you don't know what you are doing. I lost a lot.

Thanks for the insight!

As for forex, I have NO plans to open an active account any time soon. Will be taking the full course from both babypips and IP, and then trade a demo account for at least one year.

My mind set is not to look for "get rick quick" - I just don't think those are cards that have been dealt to me. I just want to generate many small lines of passive income, which is something I think I can do.

As for podcast, I'm not familar w/ them. Have never inquired about them. Which platform would I use/search to find the two above you suggested?

Re: Passive Income

Repo-ed — Wed, 08 Jan 2014 13:27:31 GMT

@Open123 wrote:
Hedge Funds.

Any suggested sites/reading material to start learning the basics and see if it's something I'd be interested in?

Re: Passive Income

Open123 — Wed, 08 Jan 2014 15:10:26 GMT

http://www.risk.net/hedge-funds-review

Good general site to start. My recommendations is to start reading and familiarizing yourself with the risks associated with the potential rewards. If it's something right for you, then you can do some micro research to find a suitable fund as a starting point.

Also, don't think of Hedge Funds as only for the rich. In today's word, it's a potential portion of any person's overall investment portfolio.

Re: Passive Income

Repo-ed — Wed, 08 Jan 2014 15:58:55 GMT

@Open123 wrote:
http://www.risk.net/hedge-funds-review

Good general site to start. My recommendations is to start reading and familiarizing yourself with the risks associated with the potential rewards. If it's something right for you, then you can do some micro research to find a suitable fund as a starting point.

Also, don't think of Hedge Funds as only for the rich. In today's word, it's a potential portion of any person's overall investment portfolio.

Thanks for the info!

Re: Passive Income

llecs — Wed, 08 Jan 2014 16:32:44 GMT

@Repo-ed wrote:
As for podcast, I'm not familar w/ them. Have never inquired about them. Which platform would I use/search to find the two above you suggested?

You can subscribe via iTunes or even an RSS feed. Or go directly to their site via here and here for SPI and EOFire respectively. And these aren't the only podcasts out there. There are other greats, but these two are my favs. SPI is more towards a passive income mindset via podcasting, ebooks, teaching and training systems, etc. EOFire deals with everything from A to Z and the podcast is daily too.

Passive income is the way to go and most of mine since High School was through passive income. I still get paid on work I did over a decade ago.

Re: Passive Income

Repo-ed — Thu, 09 Jan 2014 10:51:32 GMT

@llecs wrote:
@Repo-ed wrote:
As for podcast, I'm not familar w/ them. Have never inquired about them. Which platform would I use/search to find the two above you suggested?
You can subscribe via iTunes or even an RSS feed. Or go directly to their site via here and here for SPI and EOFire respectively. And these aren't the only podcasts out there. There are other greats, but these two are my favs. SPI is more towards a passive income mindset via podcasting, ebooks, teaching and training systems, etc. EOFire deals with everything from A to Z and the podcast is daily too.

Passive income is the way to go and most of mine since High School was through passive income. I still get paid on work I did over a decade ago.

Fantastic

Re: Passive Income

Anonymous — Thu, 23 Jan 2014 14:53:31 GMT

Social media is a mecca for passive income. Youtube and Facebook fanpages are 2 of my favorites. Create a channel or fanpage with interesting content and you can even pay someone from odesk a nominal amount to maintain the content, moderate comments once it picks up some steam/gains viewership.

lending club also comes to mind for peer-to-peer lending.

Re: Passive Income

Repo-ed — Sun, 26 Jan 2014 00:29:26 GMT

@Anonymous wrote:
Social media is a mecca for passive income. Youtube and Facebook fanpages are 2 of my favorites. Create a channel or fanpage with interesting content and you can even pay someone from odesk a nominal amount to maintain the content, moderate comments once it picks up some steam/gains viewership.

lending club also comes to mind for peer-to-peer lending.

good stuff

Re: Passive Income

awal — Mon, 27 Jan 2014 00:55:33 GMT

I would love to hear from someone who has experience with the peer-to-peer lending scene. The risk seems really high in my opinion.

Re: Passive Income

Repo-ed — Mon, 27 Jan 2014 12:05:33 GMT

@awal wrote:
I would love to hear from someone who has experience with the peer-to-peer lending scene. The risk seems really high in my opinion.

Looking forward to getting started with prosper here in a few weeks.

Re: Passive Income

awal — Mon, 27 Jan 2014 19:02:32 GMT

Chronical your adventure. Like I said I'm curious...

Re: Passive Income

Repo-ed — Tue, 28 Jan 2014 11:22:34 GMT

@awal wrote:
Chronical your adventure. Like I said I'm curious...

10-4

Re: Passive Income

Burned2manybridgesB4 — Tue, 28 Jan 2014 11:25:17 GMT

@Open123 wrote:
Hedge Funds.

LOL. Kinda like betting black zeros at the roulette table?

Re: Passive Income

Burned2manybridgesB4 — Tue, 28 Jan 2014 11:27:59 GMT

@Burned2manybridgesB4 wrote:
@Open123 wrote:
Hedge Funds.
LOL. Kinda like betting black zeros at the roulette table?

Here's general info, for those that are wondering what a hedge fund basically is.

http://en.wikipedia.org/wiki/Hedge_fund

Re: Passive Income

Revelate — Sat, 08 Feb 2014 06:04:50 GMT

@awal wrote:
I would love to hear from someone who has experience with the peer-to-peer lending scene. The risk seems really high in my opinion.

If historical trends are to be believed, I'll continue making on the order of 12% after defaults. Not certain that'll hold true as I expect the economy to be skittish this year, but we'll see. Knock on wood, but the worst thing is the amount of time it takes for me to get invested into it, but admittedly I'm loan sharking rather than picking up the A-C tranches where there's loans a plenty. Lending Club has just launched their prime service but it only looks at tranches (LC breaks up into A-G and subcategories for each grade) and nothing deeper: I don't trust it enough to do better than the statistical average, and likely it will do worse.

Honestly a lot of it is just paying enough attention to avoid stupid loans in my estimation: if someone is asking for a 30k credit card consolidation loan, and they only have 6K of credit card debt, or business loans which have absolutely no associated busiess information / data with them.... durr. Also if one knows something about FICO and how it's calculated (in particular, how much ugly utilization hurts) you can find some real gems in any tranch if you know their scores would be 50-60 points higher than what's reported currently as soon as they get their loan especially if they have pristine payment history through the rough patches not too long ago.

I'm not putting any money I can't afford to lose into P2P lending, but I suspect it's less risky than my stock market investments currently and far less than the option trading I'm now dabbling with. It's an amusing aside but it takes too long to get invested in it to create a diverse portfolio of notes which is admittedly recommended: I've already changed my default investment up to $50 just to get it out there quicker.

Re: Passive Income

Open123 — Sun, 16 Feb 2014 19:15:08 GMT

@Burned2manybridgesB4 wrote:
@Open123 wrote:
Hedge Funds.
LOL. Kinda like betting black zeros at the roulette table?

The table is always rigged in favor of those who can predict trends with even a modicum of accuracy.

Re: Passive Income

Revelate — Sun, 16 Feb 2014 19:26:08 GMT

@Open123 wrote:
@Burned2manybridgesB4 wrote:
@Open123 wrote:
Hedge Funds.
LOL. Kinda like betting black zeros at the roulette table?
The table is always rigged in favor of those who can predict trends with even a modicum of accuracy.

Out of curiosity what do you see as the current state and future of hedge funds? Saw an Economist article last week suggesting they were getting beaten down on their price points, and certainly the last few years bull run on the stock market has been something of a mess, but perhaps now coming back into fashion?