Passive Income

[Darnell 8,478]

Just to be clear. I'm not touting the book or the author as something 'positive' or 'the bible on passive income'.

However, types of passive income are listed there. <EOM>

[one...two...tree 2,762]

Just to be clear. I'm not touting the book or the author as something 'positive' or 'the bible on passive income'.

However, types of passive income are listed there. <EOM>

I've had two people over the last decade, recommend that book to me. I actually went with their recommendation and started to read it...and then after the first couple of chapters, I thought to myself, "What the hell?" Kiyosaki got a boost through Amway, when distributors were buying up his book by the box loads to peddle onto their sheep. Then Kiyosaki used that to claim his book was a number one seller. He's even managed to get himself on PBS. He's no Suze Orman. It's just another example of how some people can easily be persuaded by hype. P.T. Barnum was right.

[w¡n9Nµ7 §£@¥€r 123]

I've had two people over the last decade, recommend that book to me. I actually went with their recommendation and started to read it...and then after the first couple of chapters, I thought to myself, "What the hell?" Kiyosaki got a boost through Amway, when distributors were buying up his book by the box loads to peddle onto their sheep. Then Kiyosaki used that to claim his book was a number one seller. He's even managed to get himself on PBS. He's no Suze Orman. It's just another example of how some people can easily be persuaded by hype. P.T. Barnum was right.

Suze Orman

[one...two...tree 2,762]

Suze Orman

When it comes to personal financial advice, her advice is pretty solid.

[Calypso 464]

I want to earn money while waiting for my EAD and/or conditional GC that's why I have posted this topic. My husband is providing well and he indulges me a lot. He told me that I don't have to work. However, I am not used to having no income of my own. In fact, when he visited me last year in the Philippines and said he'd stay for a while, I still accepted a new job offer and worked when he was there.

Hakuna matata.

God bless us all.

FAE

[Darnell 8,478]

if you're looking to do something LOCAL - I suggest you find a local investor's club at www.meetup.com .

You can also set up free stock trading accounts to PLAY - cnbc.com lists the trading houses with free accounts.

[SMR 368]

The fact of the matter is, passive income in appreciable amounts requires you to be very innovative, be very lucky, have large amounts of capital, work very hard (making it not passive), or do something illegal (or a combination of these). Anyone who says differently is selling something.

Edited January 12, 2010 by SMR

[PhiLandShiR 18]

Sell Drugs, alway a good market for that...

[john_and_marlene 162]

The fact of the matter is, passive income in appreciable amounts requires you to be very innovative, be very lucky, have large amounts of capital, work very hard (making it not passive), or do something illegal (or a combination of these). Anyone who says differently is selling something.

I consider my military retirement passive income. It is not because I was very innovative, very lucky, or have large amounts of money and it certainly isn't illegal. It's just an extra $30,000/yr that I now get without having to do anything more--my military obligations have been satisfied.

[Niels Bohr 72]

All you need is to be a drug dealer for 8 hours. It'll give you enough income for six months.

The fact of the matter is, passive income in appreciable amounts requires you to be very innovative, be very lucky, have large amounts of capital, work very hard (making it not passive), or do something illegal (or a combination of these). Anyone who says differently is selling something.

[SMR 368]

I consider my military retirement passive income. It is not because I was very innovative, very lucky, or have large amounts of money and it certainly isn't illegal. It's just an extra $30,000/yr that I now get without having to do anything more--my military obligations have been satisfied.

I suppose it all depends on what your definition of passive is. The military is a serious job that has retirement pay as a benefit. I don't see that as passive income so much as delayed compensation for service performed.

I don't have very much experience with the subject, but doesn't a retirement pay of $30K a year mean that you retired as a General?

[john_and_marlene 162]

I suppose it all depends on what your definition of passive is. The military is a serious job that has retirement pay as a benefit. I don't see that as passive income so much as delayed compensation for service performed.

I don't have very much experience with the subject, but doesn't a retirement pay of $30K a year mean that you retired as a General?

No -- I'm certain that Generals make much more than that. It's easy to calculate initial retirement pay -- 2% of base pay for each year of service up to 75%. 20 years = 50% - 20 years = 75%. So, unless a General only makes 60K/yr, he would get much more than that in retirement. The pay scales are public information and anyone can look them up.

Currently the lowest possible base pay for an 0-7 (one star) general with 20 years of service (retirement eligible) is 11381.40/mo = 136,576.80/yr. If they retired right after 20 years the retirement would be 68,288/yr.

http://www.militaryfactory.com/military_pay_scale.asp

edited to add link

Edited January 12, 2010 by john_and_marlene

[Hilarious Clinton 452]

Has anyone here thought of doing something to provide you passive income?

What have you done about it?

God bless us all.

FAE

[scandal 951]

When it comes to personal financial advice, her advice is pretty solid.

Steve you're right on both counts. He (Kiyosaki) is a shyster and a fraud.

She (Orman) steers her advice in a sound direction:

- Pay off debt, highest interest unsecured debt first, secured debt, esp. tax deductible mortgage interest last.

- Pay yourself: Invest for your retirement and long term goals. Use tax advantaged plans where possible (401K, IRA, 403B etc)

- use efficient low-cost index funds or ETFs. Use dollar cost averaging to smooth the market ups and downs.

Of course, for every individual, circumstances vary. She gives good general purpose advice that is applicable to the vast majority of people.

You could do much worse than following her guidelines.

[mawilson 2,133]

Steve you're right on both counts. He (Kiyosaki) is a shyster and a fraud.

She (Orman) steers her advice in a sound direction:

- Pay off debt, highest interest unsecured debt first, secured debt, esp. tax deductible mortgage interest last.

- Pay yourself: Invest for your retirement and long term goals. Use tax advantaged plans where possible (401K, IRA, 403B etc)

- use efficient low-cost index funds or ETFs. Use dollar cost averaging to smooth the market ups and downs.

Of course, for every individual, circumstances vary. She gives good general purpose advice that is applicable to the vast majority of people.

You could do much worse than following her guidelines.

Or Dave Ramsey's for that matter, though he's a lot more annoying.