Just curious of what people do for passive incomes, given that bank interest rates are pretty low.
Cheers.
Who Here Has a Passive Income? if So What Is It?
nomunny on 21/10/2017 - 17:57
Comments
I thought investment properties are for those who after negative gearing*
*being sarcastic.
I thought investment properties are for those who after negative gearing* (*being sarcastic.)
It's a passive loss* actually.
*not being sarcastic.
But but, they Save on Tax*
*being sarcastic (again)
But but, they Save on Tax*
haha.. true. Actually, "tax saved" < "loss made" always. But people don't realise it.
Is there anyone who made money from pyramid schemes? I am really curious to know
Yep, the guys at the very top of the pyramid.
How many are up there, and can you see them from Outer Space?
I have a group of friends who do it - about 3 out of 20 get just over $6000/month. It took them about 2 years of full time work to get to that point (and probably cost them a number of friends!!). But I don't know how long it'll last as "passive" income once they stop. That's yet to be seen.
Thats really impressive. For sure friends and relatives start disappearing the moment you are into a pyramid scheme. They might come back after knowing you are successful through any changes in lifestyle to learn and earn.
hey might come back after knowing you are successful
Not really - these guys spend almost 24/7 with their "group" to try and encourage the people under them to go out and sell. There's lots of seminars and one-on-one meetings too. They need the people under them to keep selling so that they reach a certain number of points each month.
I'm really curious how long this income will really last once they get out and whether it really is "passive" income.
Really makes me cringe when I hear the words "passive income". haha!
these guys spend almost 24/7 with >their "group" to try and encourage the people >under them to go out and sell. There's lots >of seminars and one-on-one meetings too.
Hardly sounds "passive"…
@Osprey06: Thats what couple of commenters are trying to convey. There is no such thing as passive income. There are only those that give some kind of flexibility where you need not work when you don't feel like. Except that there is no such thing.
You know 20 people involved in pyramid schemes?
I agree - that's why I wonder what would happen if they stopped what they were doing.
I suspect the "passive income" will dry up pretty quickly.
You know 20 people involved in pyramid schemes?
Well, 20 that I talk to as a group - friends of friends who I sometimes drink with. By now, they know not to talk about their "work" around me.
@bobbified: It really makes me cringe when I hear the words "Amway". I'd rather the Mormans come knocking on my door every week than these guys.
They were overly nice at first and tried to suck me into joining, but it had a weird cult vibe feeling about it. They even have a special shop where members can get food specials if you join.
When I said to these fools I can get all their items cheaper elsewhere, they turned nasty on me. Damn these pyramid scenes.
Strange.. I haven't heard "Amway" in Australia for so long. I hear about Usana a lot. Or that could just be bigger amongst my own crowd.
@bobbified: hearing all these names again for the first time in years is making me sick, these 'businesses' contribute nothing for society except to create a structure where some people get to skim money from your everyday overpriced purchases so that a few get rich while everyone else is in shitsville. Should be illegal.
@Jackson:
You sound like you've been burnt before… do share your story! I've always been skeptical and it hasn't stood up to my many questions, so I've stayed right away.@bobbified: i really haven't, at least not by participating in one as I never have. Apart from turning some people into zombies, the part that worries me the most is that people actually want to participate in these schemes in the first place, which if you actually understand what's going on is a crime against humanity. It's basically saying that screw all the people who lose I just want to get in early enough to get rich without doing any actual work
@pufffdragon: i actually don't think it's that hard to fix, we just need a another Gough Whitlam to stick up these pr!cks
@87andcry:
It's not so bad - the group are all younger uni students - I look at it as a good thing because they're going out trying new things and learning about the world instead of sitting at home and playing video games or out somewhere causing trouble.I don't agree with what they're trying right now, but who am I to judge? Most of these guys are quite intelligent (but not enough life experience, hence they're trying this), so if it doesn't work for them, I'm pretty confident that they'll find a different way to make some money.
I know a few people in Usana, it's like a cult. They have to go to training to get taught how to preach their products and convince people there's is better - even though you can buy them at Chemist Warehouse a lot cheaper. Secondly, it's a moot point whether anyone needs vitamins if their diet is good to start with.
Most of these schemes require you to constantly 'buy in' the products so you're already going backwards before you start. You end up annoying your friends trying to flog these overpriced products all the time.
Walking around in business suits pretending you're some rich entrepreneur - it's all a facade and talk. Most would be lucky to make a few hundred a week - after putting in so many hours - hardly passive income…
Usana generally seems to prey on less educated, gullible Asians in my experience.
@pufffdragon: Same lol. Guy pretended I didn't mention Costco. He probably didn't want to address it!
@bobbified: Amway are big in Thailand, where, sadly, people are gullible and super keen to be wealthy. An environment in which Pyramid schemes thrive.
@placard: Couldn't be anymore true - especially that last sentence. It's pathetic as f—k, particularly for those with a background in health - you're literally taught from 1st year that it's all expensive urine.
Cult was the first word that came to mind when I heard of Usana.
so if it doesn't work for them, I'm pretty confident that they'll find a different way to make some money.
With the hope that they won't fool their own friends and relatives again in that 'different way' like they did in 'm'way.
Is there anyone who made money from pyramid schemes? I am really curious to know
Are you counting real-estate?
I've tried a few…
I followed Homer Simpson and purchased a robo caller. Haven't made a cent yet.
Started a YouTube channel. As soon as I included ads all of my subscribers unsubscribed.
Purchased stocks in 1990 in a company called Adelaide Steamship Co. Google it.
Wrote an eBook and placed on Amazon. Was only ever downloaded when it was free for 2 days.
Advertise my spare room on airbnb but no takers yet.
That's it but I had the more reliable AT-6000. I think my problem was that I was charging $2 for eternal happiness
My dad lost a fortune on the Adelaide staeamshio company
Same
Adelaide Steamship Co
Whatever they were called when they delisted, I had 1/4 million shares. The crooks were just avoiding a big tax debt from memory. They never paid it.Just read about it, what a mess
Residual Assco Group
You're a prime candidate for index funds.
youtube is a nice one, I got around $20 a month now , better than nothing~
I wont post the link unless someone is really interested, or just youtube search my ID~Just keep going, my best month on Youtube is over $1000 but I only started that channel earlier this year, so I'm doing OK ;-)
But YouTube is far from Passive income. Although I have to admit I have another channel and it grew by 1.5K SUBS and I didn't post anything for 6 months :-P, so I guess that's a little more passive.
adsteam.. spalvo is still enjoying his wealthy retirement i can assure you!
Constant income generating from investments eg investment on property or landed property (could be agriculture land), shares (those with good dividend) which generate constant income.
do you put everything in ppor to pay it off asap
or
investment for higher return ?
Depend on cash flow and type of investment and investment returns. Best not o put all money in one type of investment. Best to get a good and reliable financial planner. They would be able to plan and do some assets allocation too.
The best idea I have seen is going all-in on an Australian market cap index and using the franking credits to your advantage. Over the long haul, this is a very good move.
I don't personally invest this way, but it's something I am considering in the near future.
The safest way (a step up) other than your usual low return savings accounts or term deposits, would be something like VAF (Vanguard - Australian fixed interest) index, it's returning around 4% pa or so.
Personally I feel stock market is at very high risk now. You could make money but I prefer to stay out. Cash is king. Recently, I invested for my children in a newly startup company. Then working with them by create value to bring the company up for listing in 5years time. (Hopefully is will come thru)
Money you keep putting into the broad market, over the long term, is pretty well guaranteed to grow by many multiples. If you are looking for short term investments, the stock market isn't for you. The key is that you don't invest money you need anytime soon. 5 year minimum investment horizon.
crowd investing, angel investing, and sophisticated investments is how things generally work.
I personally believe investing in startups is high risk way to go about things, which is in the category of crowd/angel investing.
Oops ..you got it right! I invested in angel investment. Agreed very high risk. So i have cut lost point.
I understand you invested in your childrens' startup?
That's something you do more out of kindness than profit. Most new business fail within 10 years. Those rich people you see investing in startups can afford the risk.
I'd say that would be much higher risk
"Cash is king" - yeah sure. Devalues every year and gets you barely any interest.
"Cash is king" …. only when paying tradies.
"Cash is king" - yeah sure. Devalues every year and gets you barely any interest.
Many properties in Brisbane, Perth and Adelaide today cost the same (if not less) as they would 10 years back. And they said property was king in Australia.
Seems pretty bold to say the stock market is very high risk and then list your alternative approach as investing in a startup.
Like I hope you kick arse but that's about as high risk as it gets.
Cash is not king.
Holding cash in the bank is a guaranteed way to lose over the long term. At current term deposit interest rates, and after tax, you are unlikely to beat inflation.
What the (profanity)? You think a stock market is risky, but investing in a random startup isn't?
You have to do a serious amount of research for both and they're both just as risky. Except often the startup will get your emotion involved unfortunately. Most startups are absolute toss, but people from all angles think they're good and throw money at them.. just for it to all evaporate later on.
do you put everything in ppor to pay it off asap
or invest for higher return than paying off homeloan ?
Depends which has the highest interest rate.
Where are you getting the 7% figure from?
Calculating dividends, franking dividends and capital growth. It's usually good for about double the returns of a savings account.
Low yield low return market will be the norm for quite a while. People are having to somewhat take on more risk (equities) to get some upward movement.
What are you talking about? The 1 year growth is -3.63%, the ETF total is -0.89%. How is that better than a savings account? Why are people upvoting you?
I can get 2.5% in a Goal Saver at CBA and I don't have entry/exit fees and its non-performance based.
Also the franking on the VAF's dividends is 0% - at least according to http://www.etfwatch.com.au/data-analysis/VAF
Distribution yield, reinvestment of the distributions. Currently not on track for 7% YTD for myself, but still better than a savings account over a decent period of time. I'll make sure to amend my first comment.
Break even time versus a savings account is 3-6 months at a rough guess.
What's the franking credits?
Crypto and airline points. Crypto is self explanatory and airline points are passive because I make money off them (one I sell them) from general day to day spending.
What do you use to buy / sell your crypto?
Btcmarkets. Currently testing out a bot I wrote too
Any chance of sharing, if so flick me a message
nurries ~ Can you please tell me more in a private msg ~ Thanks so much :)
Well I'm studying Software Engineering so the programming background comes from my interest in the subject. Then I started to read into day trading methods and pretty much turn the method into code. It's more complicated than that but that should give you an idea.
TL;DR : Mainly self taught, that's how I learnt about this.
You must be the guy front running me :’(
What sort of return are you getting on the bot if you don't mind me asking?
Have you had a chance to look at or use your bot on exchanges with more liquidity than btcmarkets (Bitmex or Bitfinex etc.)?
@EDM:
At the moment it's still in testing so I'm ironing out bugs and poor trading methods with small amounts of money. I've lost a bit of money in the process (mainly through fees) because I can't be bothered setting up back testing.
I don't bot on BTC Markets, they're simply who I use to buy BTC with AUD and then I transfer it to an exchange with much higher liquidity such as Poloniex.
yeah he doesn't need help he's a genius. its trivially easy to gamble on the direction of an imaginary line.
@nurries: Anyone can write a script to do something.
Coding is like cooking, if you get a recipe it's dead simple, but if you learn to cook then it's not hard, you just gotta start doing.
Buy in through BTCMarkets, ACX.io, Coinspot, Coinbase and then move to an exchange like Bittrex.
Aussies pay a bit of a premium to get into the market as most of the sellers put a spread on their BTC price.
It could all change next year with other coins like XEM (NEM) looking to partner with ACX.io to bring low/no fee and low price coins to the market in Aus to be the on-ramp into crypto.
Where do you sell airline points? I've got loads and IDK what to do with them.
My passive income is sending my wife back to work.
Any advice on where to start with this?
Surely you can't just say "I need a passive income, please go back to work"
Worth a try - tell us how it goes ;P
My advice is not even think of trying.. I did ask ones after may be 6-7 years from having the first child and second was in full time kinder. She too wanted to go out for a change, but I suggested find work. She did go back to work but I kept getting reminded on this even todate. It's not worth the risk. Go for share market. It's less risky ;)
@rmamila: wait you had the kids in childcare and she wasn't back to work? You have more patience than me my friend
@Matt P: Yes. But still my wife does more duties of kids at home. That was not a simple task too. I only realised that when stayed home looking after kids once in a while. IMO, if you have kids it's better if you can you do the hard part in earning for the family. However if your wife can work then you will have an advantage in settling down well bit earlier. They both have advantages and disadvantages. When wife doesn't work or do part time I think that leads to a happier family. It's not always financial situation that determine happiness.
lol
Pretty soon that's gonna turn into passive-aggressive income.
your wife is better off divorcing you and being single parent, she'll get more money from centrelink than from work. hopefully she'll read this.
My passive income is sending both my wives back to work.
Your a braver man than me.
Centerlink
"Passive income" is what the pyramid schemes like Amway and Usana keep going on about!
I think the most common form of "passive income" is likely to be the rent from investment properties.