Yieldstreet.com

[bassiealaina]

Hi everyone,
I am currently researching to start my passive income fund and www.yieldstreet.com popped up.
Does anyone have any experiences working with them?
Thanks in advance,
Alaina

 

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[Raja]

from my understanding everybody wants to earn passive income, I was in that trap also.

but the catch is you can't with a low volume of cash.
you will need millions of dollars to earn 100k a year of passive income.

do the work in earning million and then invest it in assets(ITF, REIT, Rental property, bonds, dividends)

don't be like me I wasted a year thinking to earn passive income in reality I didn't earn a penny, not active not passive none. thinking if it's not passive its not good enough but the thing is the life of luxury demands sacrifices firest.

 

[bassiealaina]

from my understanding everybody wants to earn passive income, I was in that trap also.

but the catch is you can't with a low volume of cash.
you will need millions of dollars to earn 100k a year of passive income.

do the work in earning million and then invest it in assets(ITF, REIT, Rental property, bonds, dividends)

don't be like me I wasted a year thinking to earn passive income in reality I didn't earn a penny, not active not passive none. thinking if it's not passive its not good enough but the thing is the life of luxury demands sacrifices firest.

Thanks for the input.
Can you please recommend which kind of account you used to save your money month to month?

 

[Raja]

Thanks for the input.
Can you please recommend which kind of account you used to save your money month to month?

I am in the process, not earned enough that it matters.

simple saving account for my case (4.5% interest rate- india) but still it does not matter.
I suggest using a combination of Recurring deposit, ITF like s&p 500, REIT, and bonds.

but first and foremost save 6 months to 12 months of expense in a saving account, this is not to make you rich but to save you from your troubles. example suppose another pandemic hit and you lost all your income sources even then you have 6 months to get your shit together and It can last longer if you live frugally.

there is no get rich quick scheme

start making money and if you can't get any min wage job (If you think you are good enough to get this job then why haven't you got one)and make a habit to save.[IMP]
save 6 months of your current expense.
invest in a mixture of the assets for a long period of time and keep investing
learn to increase your income
this repeats the cycle

 

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[Nick T]

Grab Unscripted (It's a standalone) It will enlighten you just like TMF did...

It will provide a lot of clarity especially in your search for knowledge.

Also here is an article by MJ Lifetime passive income: The Paycheck Pot In Action

 

[bassiealaina]

I am in the process, not earned enough that it matters.

simple saving account for my case (4.5% interest rate- india) but still it does not matter.
I suggest using a combination of Recurring deposit, ITF like s&p 500, REIT, and bonds.

but first and foremost save 6 months to 12 months of expense in a saving account, this is not to make you rich but to save you from your troubles. example suppose another pandemic hit and you lost all your income sources even then you have 6 months to get your shit together and It can last longer if you live frugally.

there is no get rich quick scheme

start making money and if you can't get any min wage job (If you think you are good enough to get this job then why haven't you got one)and make a habit to save.[IMP]
save 6 months of your current expense.
invest in a mixture of the assets for a long period of time and keep investing
learn to increase your income
this repeats the cycle

 

[bassiealaina]

I am in the process, not earned enough that it matters.

simple saving account for my case (4.5% interest rate- india) but still it does not matter.
I suggest using a combination of Recurring deposit, ITF like s&p 500, REIT, and bonds.

but first and foremost save 6 months to 12 months of expense in a saving account, this is not to make you rich but to save you from your troubles. example suppose another pandemic hit and you lost all your income sources even then you have 6 months to get your shit together and It can last longer if you live frugally.

there is no get rich quick scheme

start making money and if you can't get any min wage job (If you think you are good enough to get this job then why haven't you got one)and make a habit to save.[IMP]
save 6 months of your current expense.
invest in a mixture of the assets for a long period of time and keep investing
learn to increase your income
this repeats the cycle

Thanks for all of your advice.
I am the queen of living frugally & saving. Once you live making money playing music for a living you can make $100 go a long way! Just trying to direct my savings to the right place.

 

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[bassiealaina]

Grab Unscripted (It's a standalone) It will enlighten you just like TMF did... It will provide a lot of clarity especially in your search for knowledge.

Thanks Nick - that's my next move.