Offline passive income

bestwriter · Sep 16, 2023

Most talk of online passive income but money can generate passive income if kept in banks where one is guaranteed steady income. These days the interest rate is low but one can relax as all what one needs to do is keep the money there and enjoy the interest that is generated Cumulative deposits will result in more money getting generated.

Do you deposit your money in banks? You can also risk giving money to money borrowers who pay higher rates of interest.

Tampa-girl7 · Sep 17, 2023

bestwriter said:
Most talk of online passive income but money can generate passive income if kept in banks where one is guaranteed steady income. These days the interest rate is low but one can relax as all what one needs to do is keep the money there and enjoy the interest that is generated Cumulative deposits will result in more money getting generated.

Do you deposit your money in banks? You can also risk giving money to money borrowers who pay higher rates of interest.

We keep our money in several places that draws a little bit of interest.

Stardom22 · Sep 17, 2023

For me I think that one would need to wait for longer for their money to yield any meaningful interests as the fact that banks provides very low interest rates on savings.

timewo · Sep 17, 2023

In India, most people are keeping a large part of the savings in the bank,it is the safest option for senior citizens. However, in some cases, keeping the money in the bank is risky, since the bank may get shut down.

astutimeliana723 · Sep 17, 2023

I keep money in the bank, but not for passive income purposes, but for security reasons. Apart from that, I don't have much balance so it doesn't give me significant interest.

bestwriter · Sep 18, 2023

Tampa-girl7 said:
We keep our money in several places that draws a little bit of interest.

There are more opportunities for making passive money without wasting time offline. But online there is more than just money we earn. We make friends and also learn from each other

astutimeliana723 · Sep 18, 2023

bestwriter said:
There are more opportunities for making passive money without wasting time offline. But online there is more than just money we earn. We make friends and also learn from each other

So, do you consider income from PTP sites to be passive income? There's nothing wrong with that, but for me this is not passive income because to get it I still have to actively write and post.

Suba · Sep 18, 2023

In my country the interest on deposits is only 4.40%, so deposits for me are only reserve money for 6 months, but if I don't need the funds, the deposit can be extended further, so for offline passive income I tend to focus on residential properties to earn rent.

relcap23 · Sep 18, 2023

bestwriter said:
Most talk of online passive income but money can generate passive income if kept in banks where one is guaranteed steady income. These days the interest rate is low but one can relax as all what one needs to do is keep the money there and enjoy the interest that is generated Cumulative deposits will result in more money getting generated.

Do you deposit your money in banks? You can also risk giving money to money borrowers who pay higher rates of interest.

I keep my money in a cooperative which gives dividend every year.. I also borrow money from cooperative which gives back some amount for patronage refund. Interest rates on savings is also higher in cooperative and there is no tax.

Magnus2022 · Sep 18, 2023

I don't fix my money because i have better ideas where i will invest for quick returns. Bank rate is very low now and it will take ages for it to accumulate a reasonable amount. If you are smart enough, fixed deposit is never an option.

bestwriter · Sep 19, 2023

Tampa-girl7 said:
We keep our money in several places that draws a little bit of interest.

It is like keeping eggs in several baskets so that they all stay safe We invested in shares and mutual funds but now we only have it in banks. No doubt the interest is low but it is safe

Post automatically merged: Sep 19, 2023

Magnus2022 said:
I don't fix my money because i have better ideas where i will invest for quick returns. Bank rate is very low now and it will take ages for it to accumulate a reasonable amount. If you are smart enough, fixed deposit is never an option.

No doubts are returns are low but here we are talking of passive income where we deposit the amount and it generates money and if you have a cumulative account there will be more money

moseschidera · Sep 19, 2023

For passive income the interest from banks just isn't going to make much difference to my savings. I rather use investing apps that let me invest into stocks. It takes some learning but being able to grow my money faster with not too much work is worthwhile to me even if it carries a bit more risk than the bank.

Springtime · Sep 19, 2023

Yes, I have a fixed deposit account with a bank. Since US has raised interest rate recently and HK dollar is pegged with US dollar, the interest rate here has also increased. My interest earnings from fixed deposit have increased these days.

uptrendfinancialsignal · Sep 19, 2023

Making money offline comes with a lot of challenges but there are offline passive income where you can make money . You can try out rental properties and this is when you have home in real estate that you rent out.

Reedex · Sep 19, 2023

Investing in dividend stocks is another great way to make money offline but it is important to invest in reputable companies and that is the only way you can earn and make passive income.

uptrendfinancialsignal · Sep 19, 2023

You can consider starting up a vending machine business because it is very lucrative way to make money offline. All you need to do is to place the machine in strategic locations then it will generate income with a minimal effort.

Reedex · Sep 19, 2023

Starting out in peer-to-peer lending to to earn interest by lending money to individuals that are creditworthy or you can even lend money to small businesses. It is a way to grow your money offline.

uptrendfinancialsignal · Sep 19, 2023

If you have artistic skills, you can definitely sell different creations at local market to earn some income . It may not earn you big money at start but you can start to grow it over time.

Reedex · Sep 19, 2023

You can try out investment in certificate of deposit at the bank . This type of investment has no risk but it is a passive way to make money offline but the longer the CD time, the higher the interest that you will learn.

uptrendfinancialsignal · Sep 19, 2023

We can consider royalties from intellectual property . When you sell ebooks, music or patents, you can earn royalty but you must be very creative and innovative if you want to do this type of business.

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