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Doing pretty well from consulting these days, however I can't manage to generate any passive income. Having saved about 30k in the past years doesn't seem to he

Doing pretty well from consulting these days, however I can't manage to generate any passive income. Having saved about 30k in the past years doesn't seem to help either, interest rates are ridiculously low. Stocks and bonds are not really my area of expertise so I decided to stick to cash. Investment funds might be an option in the nearby future.

maaaats 10y ago
Just buy index funds. They have low fees, and beat most (if not all) managed funds long term anyway. Find a fond tracking S&P 500, one global and maybe some other markets, and you should be set.
- aminorex 10y ago
  Keep in mind that index funds will probably decline by about 3-4x over the next 10 years on the demographic cycle.
  - maaaats 10y ago
    What do you mean?
    - aminorex 10y ago
      There's a good San Francisco FRB white paper on it. Should be an easy Google whack. Boomers sell the world during their retirement burn.
      - cjlm 10y ago
        A link would be useful.
  - cylinder 10y ago
    How can something "decline 3x?" Lol.
    - aminorex 10y ago
      Invert the multiplier silly.
  - mywittyname 10y ago
    Not a chance. Sure, it will almost certainly decline at some point in the next decade, but to predict the biggest stock market decline in history is really far fetched. Especially in an era when investment funds are holding onto record cash reserves in hopes of buying up cheap stocks during the next decline.
  - deleted 10y ago
    [deleted]
- samsonradu 10y ago
  Thanks, any brokers you'd recommend?
  - mywittyname 10y ago
    Vanguard is considered the best in the business.
erikb 10y ago
Have you tried to automate some of the tasks of your business? Meaning you structure them in a repeatable fashion and find people who want to work on the steps of your defined process. That way you can also achieve passive income.
- samsonradu 10y ago
  My business is writing code, so basically automating processes for other businesses. Not sure how I can turn that into a passive income. My tasks are hardly automate-able. What I started doing is teaching programming to others and partially outsourcing tasks to them but it's not going so fast :)

maaaats 10y ago

Just buy index funds. They have low fees, and beat most (if not all) managed funds long term anyway. Find a fond tracking S&P 500, one global and maybe some other markets, and you should be set.

aminorex 10y ago
Keep in mind that index funds will probably decline by about 3-4x over the next 10 years on the demographic cycle.
- maaaats 10y ago
  What do you mean?
  - aminorex 10y ago
    There's a good San Francisco FRB white paper on it. Should be an easy Google whack. Boomers sell the world during their retirement burn.
    - cjlm 10y ago
      A link would be useful.
- cylinder 10y ago
  How can something "decline 3x?" Lol.
  - aminorex 10y ago
    Invert the multiplier silly.
- mywittyname 10y ago
  Not a chance. Sure, it will almost certainly decline at some point in the next decade, but to predict the biggest stock market decline in history is really far fetched. Especially in an era when investment funds are holding onto record cash reserves in hopes of buying up cheap stocks during the next decline.
- deleted 10y ago
  [deleted]
samsonradu 10y ago
Thanks, any brokers you'd recommend?
- mywittyname 10y ago
  Vanguard is considered the best in the business.

erikb 10y ago

Have you tried to automate some of the tasks of your business? Meaning you structure them in a repeatable fashion and find people who want to work on the steps of your defined process. That way you can also achieve passive income.

samsonradu 10y ago
My business is writing code, so basically automating processes for other businesses. Not sure how I can turn that into a passive income. My tasks are hardly automate-able. What I started doing is teaching programming to others and partially outsourcing tasks to them but it's not going so fast :)