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Secondary Passive income

Do you have a Secondary Passive income

  • Yes

    Votes: 25 42.4%
  • No

    Votes: 34 57.6%

  • Total voters
    59
  • Poll votes is visible for users with special permission.
  • Poll closed .

Morne Jordaan

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Hi there everyone.

So I am curious does anyone have a sideline passive income and if so what are you doing ?
Even if you make a hundred bucks a month be sure to post it.
 
Boring stuff - invested in market index ETFs and collecting dividends (around 3% per year).
That return is less than inflation. Rather put it in the S%P 500 which on average grows 20% per year and pays 3-5% dividends PA. Especially now since it is down 15%
 
Hi there everyone.

So I am curious does anyone have a sideline passive income and if so what are you doing ?
Even if you make a hundred bucks a month be sure to post it.

Yes yes you may know my secret to making money easily, no problem, plenty of that to go around fortunately
 
I service / repair sewing machines . Not the most fancy thing, can be disgusting at times 😄. Won't lie , I do get quite a few machines in a month.
I love fixing sewing machines, the mechanics of sewing machines is just amazing. I mostly do it for free though for old ladies and people trying to make a living.
How do determine the cost of repair time (apart from parts cost)? Cheers!
 
I service / repair sewing machines . Not the most fancy thing, can be disgusting at times 😄. Won't lie , I do get quite a few machines in a month.

I love fixing sewing machines, the mechanics of sewing machines is just amazing. I mostly do it for free though for old ladies and people trying to make a living.
How do determine the cost of repair time (apart from parts cost)? Cheers!
I'll do a absolute zero shame plug here.

I still have that cupboard. Borderline willing to give it away for peanuts. Just want to get rid of it :ROFLMAO:
 
That return is less than inflation. Rather put it in the S%P 500 which on average grows 20% per year and pays 3-5% dividends PA. Especially now since it is down 15%

Sorry bro, to elaborate on my one-liner... market ETFs I'm referring to include S&P 500, along with FTSE 100, STOXX 50, DAX, CAC, etc. etc.
Of course you also benefit from capital gains which all together tend to beat inflation in a long run.
S&P DY is currently 1.37%, as it's traditionally composed of quite a few "growth" stocks which are not too keen to pay decent dividends.
 
I love fixing sewing machines, the mechanics of sewing machines is just amazing. I mostly do it for free though for old ladies and people trying to make a living.
How do determine the cost of repair time (apart from parts cost)? Cheers!
It is really interesting. In some ways they remind me of internal combustion engines. Digital models are another ball game which I don't go near. Each one has its own selection of software and programmers. I used to do it for free too but recently it escalated a notch so I do it as a side in the business. It's time consuming. Recently ive heard agents charging as much as R700 on labor alone. Which is a bit heafty, but I understand why . Its their main source of income. Since I'm not a qualified tech I try to half that figure.Also why I started charging is because I use a specific cleaner and oil . I also need to use threads and fabrics which I need to source as well. Rates per hour vary and some googling around I found between R160 - R260 per hour .

My bad - not a passive income 😁 . If I may get this slightly back on track. I make use of standard bank shariah investments. Found it to be a slight benefit over a standard savings account. From what I've learn in my own experience, you've got to have money to make money with these types of things.
 
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for me personally stock market is trash, unless you watch it everyday, day trading. I am down 10k on Naspers :(
I've been investing since 2014. So you're unlucky, or didn't analyze the market and market trends.
2020 was my most profitable year since 2014, thanks to the Vid.
 
I've been investing since 2014. So you're unlucky, or didn't analyze the market and market trends.
2020 was my most profitable year since 2014, thanks to the Vid.

Monitoring and analysis is for the intelligent... idk wtf im looking at...

Me: "What should I put my money into"
Every Trader ever: "IDK man... look at the charts"
Me: "Well you do that... so whats good now"
Every Trader Ever: "Not sure just have a look and do some Analysis, Look at $PPL - but Im not a financial advisor, I dont know what Im doing"
Me: > Puts money into something
> Loses 45%
Me: "This sucks"
Every Trader Ever: "That was dumb, how could you not see the inverted cup and handle, double bottom, W pattern, Bullish bearish pennant - this is a classic Ichigomoto Harimitsu YoshiYoshi pattern, classic bear pattern, 95% chance of a crash man, can't believe you didnt see that!"
 
Monitoring and analysis is for the intelligent... idk wtf im looking at...

Me: "What should I put my money into"
Every Trader ever: "IDK man... look at the charts"
Me: "Well you do that... so whats good now"
Every Trader Ever: "Not sure just have a look and do some Analysis, Look at $PPL - but Im not a financial advisor, I dont know what Im doing"
Me: > Puts money into something
> Loses 45%
Me: "This sucks"
Every Trader Ever: "That was dumb, how could you not see the inverted cup and handle, double bottom, W pattern, Bullish bearish pennant - this is a classic Ichigomoto Harimitsu YoshiYoshi pattern, classic bear pattern, 95% chance of a crash man, can't believe you didnt see that!"

Ignore all the cup and handle harimitsu bear w patterns. Look at what's popular, what's being worked on, what disasters are affecting us, etc.

In 2020 I put money into oil a bit after the crash. I unfortunately didn't buy when it was pennies, otherwise I would've had triple what I have now. No cups and handles and chocolate cake patterns, I just knew the world needs oil when the vid ends.

I have also invested in renewable energies and renewable batteries. I've made a fair few pennies from this, but I've since pulled out due to all the issues that cloud them. I might invest in nuclear, but that will be risky as we have too money morons on this planet that's anti nuclear.

I've bought into ecommerce, because I've read a while ago that malls and brick and mortar stores are closing down in favor of online stores. Made a few bucks.

I owned silver after the lows in 2014, my very first investment.

I owned all these stocks without a sell date in mind, I just waited patiently until my trees bared fruit and I thought it's about time to cash out, or I've spotted the next opportunity for investment.

I now own airline stocks, cruise ship stocks, semiconductor stocks, crypto, a lithium mining company stock and weed stocks. You tell me why I own these stocks/crypto without me having to tell you why I own them
 
Ignore all the cup and handle harimitsu bear w patterns. Look at what's popular, what's being worked on, what disasters are affecting us, etc.

In 2020 I put money into oil a bit after the crash. I unfortunately didn't buy when it was pennies, otherwise I would've had triple what I have now. No cups and handles and chocolate cake patterns, I just knew the world needs oil when the vid ends.

I have also invested in renewable energies and renewable batteries. I've made a fair few pennies from this, but I've since pulled out due to all the issues that cloud them. I might invest in nuclear, but that will be risky as we have too money morons on this planet that's anti nuclear.

I've bought into ecommerce, because I've read a while ago that malls and brick and mortar stores are closing down in favor of online stores. Made a few bucks.

I owned silver after the lows in 2014, my very first investment.

I owned all these stocks without a sell date in mind, I just waited patiently until my trees bared fruit and I thought it's about time to cash out, or I've spotted the next opportunity for investment.

I now own airline stocks, cruise ship stocks, semiconductor stocks, crypto, a lithium mining company stock and weed stocks. You tell me why I own these stocks/crypto without me having to tell you why I own them
Out of curiousity, when you say you own "these" stocks.
Are you buying stocks in companies that sell / offer these?
If multiple companies provide "semi-conductors" for instance, do you invest in a few companies in that range or just 1 which you research and like?

I like your earlier reasons for investing as they all make logical sense to me. Thank you.
 
Out of curiousity, when you say you own "these" stocks.
Are you buying stocks in companies that sell / offer these?
If multiple companies provide "semi-conductors" for instance, do you invest in a few companies in that range or just 1 which you research and like?

I like your earlier reasons for investing as they all make logical sense to me. Thank you.

I buy stocks through a broker. By "own these stocks" I mean, I bought a couple of shares, some I've sold like the ones I mentioned, I still own all the stocks I've bought from my last paragraph as well as oil stocks.

I decide on a stock that still has a big growth potential, for example, I bought Shopify stocks when it was 2ish billion in market value. But nothing under 1 billion in market value, just personal preference on that number. I'll check their product, as well as their growth over the last 3 years, check what other investors have to say about them, then decide on one. P/E ratio, personally nothing over 50 at time of investment, because to me this doesn't yet indicate a growth spurt and they've kept up with their market cap. I sold shopify when they were at something like 250 P/E, but they were in my accepted range when I bought them. I would buy back in if they don't go over 100b USD and have a P/E of around 20-30ish (this does not constitute financial advice to buy Shopify)
 
I love fixing sewing machines, the mechanics of sewing machines is just amazing. I mostly do it for free though for old ladies and people trying to make a living.
How do determine the cost of repair time (apart from parts cost)? Cheers!
Cost of repair time can be done in a few ways, but 3 that I can think of:
1. If you were doing something else, e.g. extra paid hours at your day job what would you make?
2. If doing the repairs takes you away from kids e.g. and you need to hire a sitter to look after them, what does the sitter cost you?
3. What feels like a fair number that makes both you and your customer win?
 
Personally I am an amature jeweler in my spare time, it brings in around 1k pm extra so there is something from it but not at all an earth shattering amount.

BUT the sheer amount of time it takes to make a piece, the profit really doesnt cover the labor costs. think of it more has a hobby with a small profit than anything else
 
honestly there is no such thing as true passive income, you either paying someone to manage and you get the rewards with a marginal loss, or you rich enough.. you wont be asking this question, all extra income requires some form of work,

stocks - watching, reading, news
crypto - self mining - maintenance of machinces etc
real esate - managment of properties

other types are more active
tutoring/skill development/teaching
building stuff
selling stuff
repairing stuff
 
Hi bud, I run various online stores on the side. Also doing international stores. I'm no expert in website building or anything at all but one of my products is Nog Eenetjie. Starting with a bottle opener. Want to turn this into something big. We al have that one friend who would always insist that we have that last drink so why not build a brand about the saying "nogeenetjie".

Check it out:

www.nogeenetjie.co.za
 
Im thinking about getting into some kind of small scale furniture production,like over the weekends.I have some basic tools to get me going. Just need to create a space for a workshop.
 

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