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Possible to earn passive income without investing in stocks?

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  #1 (permalink)  
Old 21-04-2020, 04:56 PM
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Unhappy Possible to earn passive income without investing in stocks?

As above

Many many friends and relatives who invested in stocks and were burnt badly in 1997 and 2008. So I don't dare

Can't even dream of renting out property

Money never enough, how?

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Old 25-04-2020, 08:51 AM
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Originally Posted by sinkingfeeling View Post
As above

Many many friends and relatives who invested in stocks and were burnt badly in 1997 and 2008. So I don't dare

Can't even dream of renting out property

Money never enough, how?
Passive income is a misnomer. All Passive income still require some upfront work and risk taking (eg. if investing in stocks, property and business). I have a few friends who wrote books and earn a little royalty from their book sales. But these royalty income are pittance unless you can write great novels or books that are required texts used in schools. And it takes quite a bit of effort to write those books.

So first all, perish the thought about receiving income without effort. Even to interest from Fixed Deposits (FDs), you first need that deposit - money which comes from somewhere which is very likely to be from work and savings.

For myself I do have the following sources of "passive" incomes:

1. Interest from FDs and Bonds - around $20,000 a year
2. Dividends from shares - around $60,000 a year (before the Covid crisis)
3. Rental income - $36,000 a year (gross, ie still need to deduct the condo fees, property tax, income tax etc...)
4. Interest earned in CPF OA & SA - $29,000 last year (I am above 55 yo, so I could withdraw this interest if I choose to)

To reach the above stage, there was a full 30 years of working, saving and investing. It is all active and hard work. And there is quite a bit of risk taking except for FDs and CPF which are secure.

So if you were to look at my situation now, you would only see the above income as "passive". And you are not entirely wrong but it would be wrong to ignore the hard work and risk taking that it took to build this up.

Having said that, it does feel very good and satisfying to be receiving these other incomes over and above your salary income. At this quite mature and established stage, you will also notice that your wealth growth rate increases. Your networth grows faster.

So you need to have right mindset (mental model) about "passive" income. You need to be prepared to do a lot of "heavy lifting" upfront. Once that this is in place, you can then sit back, "chillax" and enjoy the 'fruits". Good luck.

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Old 25-04-2020, 10:51 PM
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Originally Posted by Unregistered View Post
Passive income is a misnomer. All Passive income still require some upfront work and risk taking (eg. if investing in stocks, property and business). I have a few friends who wrote books and earn a little royalty from their book sales. But these royalty income are pittance unless you can write great novels or books that are required texts used in schools. And it takes quite a bit of effort to write those books.

So first all, perish the thought about receiving income without effort. Even to interest from Fixed Deposits (FDs), you first need that deposit - money which comes from somewhere which is very likely to be from work and savings.

For myself I do have the following sources of "passive" incomes:

1. Interest from FDs and Bonds - around $20,000 a year
2. Dividends from shares - around $60,000 a year (before the Covid crisis)
3. Rental income - $36,000 a year (gross, ie still need to deduct the condo fees, property tax, income tax etc...)
4. Interest earned in CPF OA & SA - $29,000 last year (I am above 55 yo, so I could withdraw this interest if I choose to)

To reach the above stage, there was a full 30 years of working, saving and investing. It is all active and hard work. And there is quite a bit of risk taking except for FDs and CPF which are secure.

So if you were to look at my situation now, you would only see the above income as "passive". And you are not entirely wrong but it would be wrong to ignore the hard work and risk taking that it took to build this up.

Having said that, it does feel very good and satisfying to be receiving these other incomes over and above your salary income. At this quite mature and established stage, you will also notice that your wealth growth rate increases. Your networth grows faster.

So you need to have right mindset (mental model) about "passive" income. You need to be prepared to do a lot of "heavy lifting" upfront. Once that this is in place, you can then sit back, "chillax" and enjoy the 'fruits". Good luck.
Didn't know boomers visit these forums too, good write up tho

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Old 26-04-2020, 05:02 AM
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Originally Posted by Oniron89 View Post
There are safe options like Stashaway Simple or Singapore Bonds.

Have you tried?

I'm currently in my passive income journey having a online shopping mall without any start up cost. The rest of the backend processes are all taken care for you. And all you need to do is to just work hard.
Hi, could you share more on your online shopping mall? Thank you!
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Old 28-04-2020, 08:47 PM
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Originally Posted by Oniron89 View Post
There are safe options like Stashaway Simple or Singapore Bonds.

Have you tried?

I'm currently in my passive income journey having a online shopping mall without any start up cost. The rest of the backend processes are all taken care for you. And all you need to do is to just work hard.
I have been jodless for nearly 1 year, I got no marnee

Even buy clothes got to think 3x

$500 minimum for the ssb ish too much to swallow for me

Never heard of Stashaway, will look at it, thanks for sic
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Old 28-04-2020, 08:53 PM
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Originally Posted by Unregistered View Post
Passive income is a misnomer. All Passive income still require some upfront work and risk taking (eg. if investing in stocks, property and business). I have a few friends who wrote books and earn a little royalty from their book sales. But these royalty income are pittance unless you can write great novels or books that are required texts used in schools. And it takes quite a bit of effort to write those books.

So first all, perish the thought about receiving income without effort. Even to interest from Fixed Deposits (FDs), you first need that deposit - money which comes from somewhere which is very likely to be from work and savings.

For myself I do have the following sources of "passive" incomes:

1. Interest from FDs and Bonds - around $20,000 a year
2. Dividends from shares - around $60,000 a year (before the Covid crisis)
3. Rental income - $36,000 a year (gross, ie still need to deduct the condo fees, property tax, income tax etc...)
4. Interest earned in CPF OA & SA - $29,000 last year (I am above 55 yo, so I could withdraw this interest if I choose to)

To reach the above stage, there was a full 30 years of working, saving and investing. It is all active and hard work. And there is quite a bit of risk taking except for FDs and CPF which are secure.

So if you were to look at my situation now, you would only see the above income as "passive". And you are not entirely wrong but it would be wrong to ignore the hard work and risk taking that it took to build this up.

Having said that, it does feel very good and satisfying to be receiving these other incomes over and above your salary income. At this quite mature and established stage, you will also notice that your wealth growth rate increases. Your networth grows faster.

So you need to have right mindset (mental model) about "passive" income. You need to be prepared to do a lot of "heavy lifting" upfront. Once that this is in place, you can then sit back, "chillax" and enjoy the 'fruits". Good luck.
You are very right. The problem is, I really don't understand even simple finance concepts

That's why I'm trying to think of simple ways to earn income that don't require so much thinking

Hence why I said I dare not invest in stocks, I'm very very afraid of making the wrong call. My parents themselves lost 6-figure sum playing stocks in 2008, despite attending many courses and having a stocks adviser
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Old 28-04-2020, 08:54 PM
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Didn't know boomers visit these forums too, good write up tho
Are chiu in 20s-30s? If so, what's your side income strategy?
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Old 29-04-2020, 08:31 AM
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Are chiu in 20s-30s? If so, what's your side income strategy?
Hi, I'm the OP, yes I'm 25.

Based on what you have provided so far best for you not to touch investments as you have neither capital nor knowledge/mindset. You should focus on increasing your income first. The market crashes from time to time but if you stayed invested throughout you would have made money.

My side income strategy is investing and tutoring. Since I only just graduated, I'm slowly building up. Current investment side income only $100 per month dividends.
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Old 05-05-2020, 05:53 AM
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Yes, Stashaway earn a projected rate of 1.9%.

I see, for myself I been wanted to try plenty of jobs and finally got myself into a $0 e-business model. You don't have to commit much and you got your own online shopping mall already.

We been helping people around the world as due to Covid 19, there are recessions taking place and hard for people to meet their ends.
Maybe you can hear us out and see whether this works for you.

We have plenty of jobless cases and they are now earning fine, just leverage our system and backend all take care for you.

What do you say? PM me your contact info for us to share with you more info and perhaps you're on your way to a effortless income stream.

Is chiur name Imran or Dominic?
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Old 05-05-2020, 12:39 PM
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Originally Posted by Oniron89 View Post
Hmm? Neither. My name is Sharon.
We are from Atomy.

You can see many different range of products ranging from household products to food products.

Instead of buying products from NTUC that earn you 2 points for spending of $1. And somemore require min spending of $20 to earn points.

By just converting your daily essentials to Atomy (cheaper price) and with group points accumulation, you can potentially earn $27 / $80 depending on your member tier and the support of your team.

Imagine by sleeping can also earn money effortless, how good is that?
Might start slow at first, but once you got the pace. Will be WOW!
Never try, never know.
No wonder you're so pushy.

No thanks.
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