5 Best Investments to Earn Passive Income in 2024

I'll be covering 5 simple investments for earning passive income in 2024. You don't need a lot of money to start earning passive income. #passiveincome
Author of "From Side Hustle To Main Hustle To Millionaire" (Available at B&N, Amazon, Library)
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[@WesleyC-c7r]

Invest in bonds at 40? My philosophy is your foot should be on the gas pedal for growth at 40. Maybe at 50 or 60 diversify into some bonds.

[@touchsmith4630]

What do the advice do you have for people who are already at retirement age like Like me and I started very late. And I don't have much. Can you give a person like me to try to start building something

[@RyanScribner]

I would suggest looking into something like STR (short term rentals), lower upfront capital investment and if you have time to manage things yourself that can be great!

[@lastchanceshinythings47]

Have money to make money, check.

[@word_man]

Actually what you need is credit. With credit you can have “good debt”. You do this by getting a loan for a small rental apartment. You buy it with the loan then you rent it out and pay off the debt with that rent money. Once that is paid off you continue to get rent so money keeps flowing in. Now you’re in the black. So get another loan for a bigger home and do it all over again. That’s good debt to have.

[@mac150]

Bruh advises to just buy more real estate in your 20s… people can barely afford home mate

[@crystyxn]

Depends on your location and income. Someone with a high salary could

[@WilsonSilvaPT23]

In theory its easy. But in practice its hard. Ask for a mortgage with your bank for a house then rent that house for the price above the amount you pay to the bank. Save the profits and buy another house and rent that same aswell. Do that every year. By the time you have passive income plus you own several real estate

[@CaliforniaLifeJourneys]

@@WilsonSilvaPT23 monthly mortgage nowadays is about 6k-7k with these high prices. It's almost impossible to rent it for the price above the amount you pay to the bank, unfortunately