Creating passive income?

[Zalius]

I'm looking to start putting the extra cash I have wasting away in the bank into something that will make me a little bit more extra money on the side. Right now I have about 5,000 that is basically doing nothing for now - some of it is for next semester but even with books that shouldn't be more than about 1200, but even then I should make that much by the time next semester starts.

As of right now, I'm just trying to find something to invest my money into that will generate a decent amount of extra money (pref 200~ or more per month) without too much management needed because my schedule is kind of full. I've heard about game and candy machines, but those seem like a little bit too high of an investment and i dont really see those making the 40-50 dollars per month as easily as they say that its produced, but I would have a legitimate set of locations to place them through family connections.

Any advice welcomed, and I'm a firm believer in risk vs. reward, and money that I lose on investments I usually justify as karma for all of them money i've taken from my friends in poker. Make me rich BG

Edit: If you'd rather PM than post it publicly thats cool too, I keep good secrets i promise xoxoxoxoxoxoxoxoxoxoo

[Jotaru]

Win lottery. $2M is preferred

Put away in savings

Make 75k a year

Edit: IDK But it was surprising to me how much money you can make passively just on interest on a relatively modest (yet large) sum of money.

[Ksandra]

I'm looking to start putting the extra cash I have wasting away in the bank into something that will make me a little bit more extra money on the side. Right now I have about 5,000 that is basically doing nothing for now - some of it is for next semester but even with books that shouldn't be more than about 1200, but even then I should make that much by the time next semester starts.

As of right now, I'm just trying to find something to invest my money into that will generate a decent amount of extra money (pref 200~ or more per month) without too much management needed because my schedule is kind of full. I've heard about game and candy machines, but those seem like a little bit too high of an investment and i dont really see those making the 40-50 dollars per month as easily as they say that its produced, but I would have a legitimate set of locations to place them through family connections.

Any advice welcomed, and I'm a firm believer in risk vs. reward, and money that I lose on investments I usually justify as karma for all of them money i've taken from my friends in poker. Make me rich BG

Edit: If you'd rather PM than post it publicly thats cool too, I keep good secrets i promise xoxoxoxoxoxoxoxoxoxoo

I'd suggest an IRA or CD. As it stands there is little reward to gain in the risk vs. reward method in today's economy.

You'd have a better chance playing the lottery (as said above) than doing stocks.

[Zalius]

i have a roth ira already that i got from high school graduation. i put the maximum into it already (think its yearly? idk) but i dont think i can touch that shit til im 40 or something. idk, family friends handled it all. they probably ripped me off but its all good


and i dont mean investments in stocks, i mean anyway to generate profit via advertising, simple transactions, etc. I have a general plan for a business to start in about 10 years, but at the rate im going it'll take twice as long to have the startup money. I have most of it planned out already, but i cannot for the life of me find anything productive in terms of low management simple passive profit generation. its like trying to poop without a butthole

[guartz]

Truth is, Zalius. We all know how to make free money, we just don't want to tell you.

[MisterBob]

You won't find anything that will make $200/mo with only a $5000 investment without incredibly high risk.

You can put it into savings/CD, but those are abysmal these days. (A standard savings account will make you ~$3.5/mo with $5000).


...Good luck

[aurik]

I suggest looking into long-term investment in the stock market. A good place to do this at minimal effort is mutual funds. Here's a place to start: Vanguard - Mutual funds, IRAs, ETFs, 401(k) plans, and more

It's not going to put $200 in your pocket, but it can put hundreds of thousands in your pocket when you're ready to retire. The key here is long term. While the market may stagnate in the short term, over the duration of your lifetime it will almost certainly rise faster than inflation, giving you a net win.

If you just want an extra $200 in your pocket in the short term...get a part time job.

edit: Also, if you're looking for seed money, look into getting a business loan from a bank.

[Blabj]

Become good at internet poker.

(not very passive I know, but that'll get you a bit of money!)

[Cheerios]

If you'd consider something non-passive, you could always fuck bitches

[Slapper]

Buy some land

[Komm Suesser Tod]

http://theurbantwist.com/online/wp-c...9/03/pimps.jpg

[Koul]

hmm

tell me more about this long-term savings thing

once I get all my bills taken care of, I plan on putting pretty much the same amount I'm spending on credit card debt into a savings thing. I'm 22 now and I don't care how much I'll have in 5 years. Looking to have a shitton by the time I'm in my late 40's early 50's.

[Korietsu]

Forex. Its safer than stocks if you actually know how to read a moving average trendline. Or candlestick charts.

[scrockstar]

Any advice welcomed, and I'm a firm believer in risk vs. reward, and money that I lose on investments I usually justify as karma for all of them money I've taken from my friends in poker. Make me rich BG

I've made a lot in the last few years by investing in Chinese currency (yuan) and gold. If you are looking to put your money into something semi long term (say a couple of years) this is by far the best and safest bet you will have access to.

You don't seem to have the money, time, or connections to do anything that will result in the kind of reward you are looking for. You simply won't find it for what you are willing or able to put into it. There will always be someone who has more capital, more time, and more connections than you. So no free lunch.

Having said that, take my advice above. You won't hear a ton of people tell you to stick your money in Chinese currency but it will give you by far the best risk / reward ratio around. I'd stick $2,500 in yuan and $2,500 in gold, you'll thank me in 2 years.

[Takedown3]

i heard the stock market is doing well

[izembo]

gold

[thetruepandagod]

am i being wooshed? why buy gold when it is at its highest?

Also seconding mutual funds as very good long term pay offs.
If you had more money and were feeling lucky you could have bought stocks when they were at their lowest since they will eventually come back up.

[sephir]

Could always invest in Bonds.... those are usually safer than stocks. However with interest rates are near 0 levels their value are not likely to be increasing any time soon, so your more likely to get payments or the value of the bond back. Your aiming for 4% per month if you invest the whole $5000, which is quite a bit.

If your thinking of investing in stocks.... Ford could be interesting as it is picking up the lost market share by GM and Chrysler because of their bankruptcy/bailout. Toyota/Hyundai/Honda is safe as well. Gold generally does well in bank economic times, but I havent checked its value so I dont know whats going on with it.

With $5000 its going to be difficult to turn out that kind of money, and this economy. T-bills are the safest thing you can get but you are likely to get a low return. The market risk premium right now isnt that great because everything is pretty unreliable in terms of returns.

[Norellicus]

If you don't have it already, you should have at least 3 months worth of your cost of living in liquid savings at all times.

[ertyu]

Investing in stocks now is actually one of the best things you can do for the long term. As someone stated above Mutual Funds are a great way to make some money in a long term investment. Other than that though, the Dow is at a pretty good low point, I managed to get in when stocks were crashing pretty badly in february/march. Bought 4000 shares of BofA when it was at 3 bucks a share and I've still yet to sell it, just wish I couldve bought more at the time :/ Anwyays, there are a ton of stocks now that would be nothing short of a great investment. Citi is not going to do anything but go up in the grand scheme of things, that's a good one to buy. Just go to a broker and talk to him about your options.

But to be honest... 5000 is really nothing that you aren't going to have to assume some form of risk. As someone else said, you should probably keep an emergency cash fund in liquid assets at all times. If you can raise another 5 grand and have a 10000 dollar investment, then you're beginning to talk real money and you can do a lot more with it.