Griff said:
I would make my money work for me through crypto mining. If I had about $5.5K, I would buy 2 KS5 20TH units. Currently, they would make me about $27 a day in pure passive income.
Mining can be a solid way to generate passive income, especially if you have the right equipment and setup. Have you also considered automated trading? Platforms like SuperBots can help you generate income through algorithm-driven trades, offering another way to diversify your earnings.
I like to keep some savings just sitting there in case of a rainy day. You never know when you might need it. But if you have some money you could afford to spend on something, I personally recommend buying a business that’s earning money passively. I bought one last year, and it’s already doing over $2k a month with minimal work! Plus, I can manage it from anywhere in the world. I got ROI within 6 months, so I feel it’s the best investment. (Just for context, I invest in crypto, trade crypto, invest in the stock market, and trade forex, but the best investment I have is my digital business.)
@Hadi
How do you go about finding a successful business that’s for sale? Also, how do you ensure that what you’re buying is actually successful?
Blair said:
@Hadi
How do you go about finding a successful business that’s for sale? Also, how do you ensure that what you’re buying is actually successful?
I found mine through a newsletter called Digital Sniper. They send out weekly emails with digital businesses for sale and analyze them for you. You ensure that a business is actually successful by using a process called due diligence; you can find more info on that online as it’s quite detailed. You’ll also have a sales purchase agreement that allows you to add a clause stating that if a business isn’t what they claim it is, and there’s a significant financial loss not caused by anything you’ve done in the next 5 years, they are held liable for up to the amount you paid for it. You would have to take them to court, but you’d win because of the legal document you hold and they’ve signed.
@Hadi
Wanna hear about this too!
@Hadi
Would love to hear how you found this business and evaluated it. What do you find yourself doing for it now?
Oak said:
@Hadi
Would love to hear how you found this business and evaluated it. What do you find yourself doing for it now?
Please refer to my response above for the first part of your question. For the second part, I’ve mostly used YouTube tutorials to learn how to market my business and edit the copy on the website and listings to improve its position on search engines. There’s a lot to learn, but it’s a great challenge that has paid off for me.
I have 100% VGT.
I invested $10,000 of my savings into VGT in 2014.
Now it’s worth $56,000. I wish I had put in more.
Tech has grown tremendously in the past, and I believe it will keep growing but at a lesser rate. Obviously, investing carries risks, and you must determine your time horizon when investing.
If you’re going to use the money in 1-5 years, I’d recommend a HYSA or MM account.
VGT Link: Vanguard Mutual Fund Profile | Vanguard
Jonah said:
@Koa
VGT?
It’s an ETF.
It’s high time we make this money work for us. To be wealthy, not live paycheck to paycheck, you must make your money work for you because saving isn’t doing anything; it’s actually getting devalued by inflation. It’s all about diversification. The more investments you have, the better for you. Many streams of income is my secret… that’s why I don’t keep all my eggs in one basket. I love to have multiple sources of income; this way, you have a strong financial foundation.
If you have $10k or $25k and are looking to invest, I recommend looking into Bigatron AI. I invest in a mix of AI trading bots and real estate; these are generally safer and can provide steady returns.
Invest in affiliate courses!!!
Letting it sit in savings is a waste.
Put half in SPAXX for a 5% yield.
Put the other half in Intel and reap profits once the $8.5B government deal goes through.
This is not investment advice… this is a casino.