True passive income is rare. Even income from dividends or rental properties needs some attention, like checking APY rates or dealing with tenants. HYSAs with rates around 4-5% APY are an option, but rates change, so stay updated through Reddit, news articles, or aggregator sites. Go for CDs if you’re okay with locking up your money for a set term. You just need to set up income streams that mostly run themselves, even if you need to check in sometimes. It’s not magic, but it’s doable.
It depends on the platform you’re using to call it passive income. Yelay’s a solid choice for anyone looking for real passive gains, whether you’re new or not in crypto. But still, gotta DYOR.
Usually “true” passive income takes work and time to set up. Once you do though, it’d require “minimal” supervision to keep things going.
For example, someone might open a McDonald’s. After hiring enough people to keep it running, the person can hire a trustworthy manager to oversee the operation and “retire” from active management. The work then becomes reviewing the books, so it’s a lot less effort.
Or, if you have enough money saved up, you’d be able to get enough interest or dividends for it to augment your normal income. Once it can fully replace your income, you’d be able to stop working.
I’ve worked for 25 years so far. I only check my investment account once every 5 years or so. It’s not exactly a lot of effort. Currently, I anticipate it replacing my income well enough once I work another 15 years or so.
Definitely possible! Check this out: Passive Income Masterlist.