Passive Income
Do you have a side hustle that brings you money without you having to do much? Do you want to have one? Tell us about your passive income or the one you wish to have. Someone could be learning from you.
What is passive income? I would define passive income as money that you are not actively working for. A kind of income that has the potential to either appreciate or depreciate without your active involvement.
There are various ways by which people can earn passive income. They include, but are not limited to high-yield savings account, bonds, dividend stocks, crypto, and real estate.
The only source of passive income that I currently have is some bit of crypto investment. With this particular source, I recognize the fact that there is risk, just like with any other source of earning potential. However, the risk involved with crypto is even increased due to the high volatility of the crypto assets. Also, I try my utmost best to make sure that I do not put all my eggs into one basket(or into one coin in this case), so that I do not lose it all of that coin crashes. Instead, if I have $100 that I want to invest, I would buy 5 coins worth $20 each. That way I increase the chance of me partaking in potential price pumps in the market.
In the near future when I have a lot more money, the store of passive income that I would really love to invest in is real estate. Land almost never depreciates, it can only appreciate. I would definitely love to have that as a guaranteed source of passive income.
I am currently doing a number of active jobs such as writing and tutoring guitar and swimming so I can have enough money to invest in opportunities that will fetch be passive income in the long run.