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> I used all the extra earnings to secure a moderate income outside my job. How? You make it sound straightforward, but I wouldn't know where to begin.
by Xenograph 5y ago
> I used all the extra earnings to secure a moderate income outside my job.
How? You make it sound straightforward, but I wouldn't know where to begin.
- ryandrake 5y agoUpvoted because it is a good question that never seems to get answered specifically. It’s always something vague and simple like “just invest in... uh... stuff, bro!” Let’s say I have $1M liquid (I don’t) and I want to “build passive income”. What do I do? Specifically, what are the actual steps? As in, I pick up the phone and do what? Should I buy a laundromat? Great! HOW do I do this? Where is eBay For Laundromats? Once you but it you’ll need to hire someone to run it. How? Buy a bunch of duplexes and be a landlord? OK... where is the step-by-step guide? The answer of course is that it is not straightforward. It is complex and requires experience and not-widely-known niche know-how, and that’s why not everyone just does it.
- timuzhti 5y agoIf you have a million stick it in a boring old index fund. Above market returns require above market amounts of work.