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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: calskin on August 23, 2013, 09:29:58 AM

Title: Residual/Passive Income Ideas
Post by: calskin on August 23, 2013, 09:29:58 AM
I was wondering if the forum would be willing to share their ideas for getting residual/passive income?

I'm not talking about million dollar ideas.  I'm talking about $5 a month ideas.  If you can get $5 per month of residual income, you can likely figure out how to get $10 per month and grow it over time.

My thoughts are putting ad space up on a blog or youtube videos.

What are your thoughts?
Title: Re: Residual/Passive Income Ideas
Post by: davisgang90 on August 23, 2013, 10:34:31 AM
I'm not sure I'd categorize ad revenue from a blog or You Tube as passive.  You need regular content for both.  That being said, if you have the talent for writing or creating video content it has possibilities. 

I started a blog a few months ago to discuss my approaching military retirement and what is next. 

MMM has you covered with how to build a blog.  http://www.mrmoneymustache.com/2013/01/17/how-to-start-a-blog/
Title: Re: Residual/Passive Income Ideas
Post by: BuzzardsBay on August 23, 2013, 10:43:21 AM
I'm glad you asked this question.  I've been thinking about it lately myself.  I can't wait to read the responses.
Title: Re: Residual/Passive Income Ideas
Post by: gecko10x on August 23, 2013, 10:50:01 AM
Invest.
Title: Re: Residual/Passive Income Ideas
Post by: calskin on August 23, 2013, 11:37:44 AM
I'm not sure I'd categorize ad revenue from a blog or You Tube as passive.  You need regular content for both.  That being said, if you have the talent for writing or creating video content it has possibilities. 

I started a blog a few months ago to discuss my approaching military retirement and what is next. 

MMM has you covered with how to build a blog.  http://www.mrmoneymustache.com/2013/01/17/how-to-start-a-blog/

Semi-passive works too.  Thanks for the input.
Title: Re: Residual/Passive Income Ideas
Post by: arebelspy on August 23, 2013, 11:58:34 AM
Invest.

This.

The rest are side gigs. Second jobs.

They aren't "passive."

You can get (often declining) passive income from work already completed (e.g. royalties, old blog posts via long tail, etc.) but it's all work, not passive.  You just get paid over time, instead of up front.

Side gigs are great (I earn extra money managing our properties instead of hiring a property manager, for now), but don't fool yourself with the "passive income" bullshit that's tossed around online.
Title: Re: Residual/Passive Income Ideas
Post by: ArtieStrongestInTheWorld on August 23, 2013, 12:06:54 PM
I'm assuming you're talking about passive income other than from investments.

Blogs take a lot of consistent, high quality work to be successful.  I wouldn't consider them passive or even semi-passive.

Informative Youtube videos might work if you can think of things that people are searching for, and then post "how to" videos or something similar.  Same thing with self-publishing an e-book on Amazon.  I believe MMM mentioned in his article on how to build a shower that he considered making an instructional e-book on how to remodel a shower that would sell for a few dollars.  This would take a fair amount of upfront work, but then you could sit back and wait for it to work.

There are lots of other ideas to generate non-investment passive income.  For example, depending on where you live, you might be able to rent ad space in your lawn or on your car for a small sum per month.  There are programs where you can donate your computer's processing power while you sleep at night, so you might be able to find a place that would rent this processing power for a small rate.  You can "mine" for Bitcoins (although I've heard this can cost more in electricity than most people can make).  There's a lot out there, the key is just to be creative.
Title: Re: Residual/Passive Income Ideas
Post by: GuitarStv on August 23, 2013, 12:13:54 PM
We installed solar panels on our roof this year as part of Ontario's micro FIT program.  It makes us about 11-12$ on a sunny day (although I haven't seen what it's like in the winter), and we have a guaranteed energy selling rate for the next 20 years.