Best places to park your money for passive income?

[chrisbiz4444]

What are the best places to park your $ for passive income ( in your opinion )

I took a job that pays very well ( not fastlane at all). but I am happy for now, its full time+ extra hours. However I don't want to be dependent on W2 income. That is not smart. So my goal is to invest 75% of all my earnings and slowly transition to a fastlane of income producing assets.

The question becomes what? Stocks, real estate, online websites, ?

Stocks are great but they are not passive unless you are playing with dividend stocks which usually have very small % payouts. ( For semi safe company's)

Real estate- residential doesn't seem that lucrative. It also seems to be filled with story's of tenant nightmares. Commercial investing seems much more fast-lane due to being able to create a property's value with its earnings. The leases also tend to be much longer 5-25 years.

Websites- I feel this can be lucrative but there are some real bad eggs out there. I have been burned a couple times. But that is my fault.Ignorance is expensive. Learned good lessons though. Make sure you learn the business before hitting auction sites like flippa and over-paying for something.

And yes I know this isn't investors hub so I hope nobody gets all bent out of shape. However I do feel this is a good topic that could hold value to us all.

So, What are the best places to park your $ for passive income ( in your opinion )

 

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[drilonnn]

Buy bitcoins or litecoins

 

[Sydants]

Invest in knowledge to help fastlane your fastlane?

 

[Dennis Steenoven]

hat are the best places to park your $ for passive income ( in your opinion )

Well judging from your picture, you like nice cars, houses and women. As far as investing goes I'd stick with the nice cars and houses

 

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[Ravens_Shadow]

Well judging from your picture, you like nice cars, houses and women. As far as investing goes I'd stick with the nice cars and houses

Nice Cars and houses generally aren't great "investments or assets" as far as i know.

Edit: Unless you're flipping houses lol

 

[Dennis Steenoven]

Nice Cars and houses generally aren't great "investments or assets" as far as i know.

Edit: Unless you're flipping houses lol

That was indeed what I was referring to, or classic cars for that matter

I think there's lot's of possibilities, it all depends on what you're looking for.. the return you want, risk you're willing to take etc... and that has to do with you making a choice.
MJ's formula in his book might be of help here, since all options you give can be investments where you can park your money in and make a profit. For me, Id invest to flip. You might be more comfortable with stocks (Canadian exploration/ mining companies for example) or real estate.
I think the most important thing here is YOU, not so much the opportunities that are out there.

 

[MyronGainz]

There is no "best" place to park your income, other than maybe a bank (earning you sub-inflation returns). You have to simply do your research and invest with conviction

 

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[MyronGainz]

Also, the less your asset can change, the more your asset is at the mercy of the market.

 

[MooreMillions]

Type in "top passive income streams" into the internet and start there.

Very, very, very sobering and revealing when you look at the actual definition of that, that you are searching for.

 

[RogueInnovation]

Maybe an idea is to buy all you will need to last you through the ramen noodle phase, pay off debts, stock lots of food, and some money for like two or three years food and rent and a bit extra. Have computers, and other gear you'll need, and maybe a few K for setting up your web launches (when you have your fastlane ideas down).

Cuz, to be honest, that ramen noodle phase sucks. Then once you are working 24/7 on yourself, quit the job and get one that is more casual and frees up your time and mental energy.

You can't really be a venture capitalist etc until you actually have biz skill imo, so if that is your eventual aim, you'll have to rock a company to success imo.

In short, I'd set up budgets and small funds for stuff. Like for coders, film, graphic designers, copywriters etc. As well as erase my survival needs from the equation during periods of uncertainty (such as learning biz for 3 to 5 years). I'll be honest though, I've never seen that work. I think that sometimes entrepenuers need the pressure of going broke to shine, its weird but I think it removes that layer of safety that consolidates the slowlane and sidewalker mindsets.


If you want to take a less hardcore route I'd suggest real estate, but make sure you do due diligence. I have seen a lot of friends find some great passive income this way, so I've seen it work.

 

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[SteveO]

Commercial real estate is a fantastic way and is very fastlane.

 

[chrisbiz4444]

Commercial real estate is a fantastic way and is very fastlane.

Commercial is fastlane? zen******* is residential REI slowlane in your opinion?

 

[SteveO]

What lane do you feel passive income is?

 

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[MJ DeMarco]

I don't hand over any of my money unless I get a return on it, either monthly or quarterly. I invest for income and that means bonds, royalty trusts, dividend stocks, REITS, CEFs, MLPS, and yes, even mutual funds that pay monthly/quarterly.

Anything that doesn't pay me some type of income I classify as pure speculation. (That means to me, most stocks are speculative.)

PS: Thread moved from Fastlane to Investing.

 

[Kak]

I disagree about stocks not being passive. Your asset appreciates while you eat, sleep and play golf.

I have an investment guy at UBS and also use JP Morgan. I use two different firms because I've watched too many American Greeds on CNBC. I specifically asked them to only keep my money in either Stocks or ETFs... Why? Because I understand them and know what is going on. My mother is always in some crazy shit she doesn't understand because "her guy told her to" I told myself I would never do that with my own money. Guess what... My returns have been consistently better since I started investing.

I go in conservative, but I don't invest like a pussy either. I am considering some real estate as well but have not done it yet.

 

[Kak]

BTW it is not unheard of for day traders and options traders that are very in tune with the markets to make over 100 percent per year. If you are attached to your job I could see self trading being a fun and lucrative hobby for someone who really digs deep into it.

 

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[ZCP]

Some of that 'speculation money' put into established small businesses in the form of notes to cover A/R, cashflow, etc. They have few places to go and will pay a nice return.

 

[snowbank]

So, What are the best places to park your $ for passive income ( in your opinion )

this is the same as saying, "what business should i start"

if you don't give more information, you're just going to get a bunch of general replies, that won't be relevant at all to your situation.

you need to include your goals, the type of amount, the type of returns you want, specifically how passive you want it, etc...

there's a lot of variables depending on all those things. the higher returns you want, the less passive it's going to be, even if it's by definition considered a "passive investment"

 

[MillionairesHQ]

The fastest way is to invest in businesses. You can do online businesses, offline businesses, commercial real estate, franchises, etc. But of course, the best avenue to park your money in is in an industry in which you have good knowledge in. Investing blindly isn't smart. If you're not really sure where to park your money, and you want to get started right away, you can hire a professional to oversee a stocks/bonds portfolio for you. Then in your free-time, increase your knowledge and education in a field - like online business, real estate, etc. - until you feel comfortable enough to invest heavily in one of those.

 

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[AubreyJ]

There is a website called ibillionaire, and it is basically a website that shows you the portfolios of a handful of billionaires, and it gives you email updates on when they buy/sell new stocks, as well as gives you information on what they currently have investments in.

I used this site purely as a source for investment ideas, but I think it could be good for you if you are looking for safe investments. Investors like Buffet, Ichan, or Soros are long term investors, so it may give you some ideas on what are good long term plays, something that can make you money without having to look at charts all day. Just an idea!