What Advice Would You Give To Someone Who Wants To Make Passive Income?

[Passiveearner]

There are many people out there who may be struggling a lot when it comes to generating passive income. This is because as inflation is increasing, it is becoming really harder to generate passive income. Many people like to invest in projects, but they are finding it really hard to deal with many challenges and this is why they are not able to generate passive income. So, what is the best advice you would like to give?

 

[eldavis]

I think the only advice i would give out is that they should take things slowly. Trying to get passive income is good but do not make wrong decisions simply because you want to start Making passive income instantly.

 

[flower]

If you're willing to make passive income, it will be a very good way to generate money because passive income ideas are the best ways because you can make money while you are sleeping.

 

[Bisolami]

There are many people out there who may be struggling a lot when it comes to generating passive income. This is because as inflation is increasing, it is becoming really harder to generate passive income. Many people like to invest in projects, but they are finding it really hard to deal with many challenges and this is why they are not able to generate passive income. So, what is the best advice you would like to give?

The best advise i can give to such a person is that you cannot begin to make money from passive income immediately you start so the person should not be in a haste to make money.

 

[nomad]

Don't get this impression that you will be able to generate passive income overnight. You will have to work hard possible for many years before you can generate passive income.

 

[Passiveearner]

Well, the very first advice I would like to give is: never invest what you cannot afford to lose. Many people invest a really huge sum of money and they end up losing that money.

 

[aovurevu]

Well, the very first advice I would like to give is: never invest what you cannot afford to lose. Many people invest a really huge sum of money and they end up losing that money.

Yeah, you are right, some might even choose to invest their last sum of money hoping they will get more if it in return and tell you everything is just about taking risk , but forget that some things are not worth risking

 

[SHAHID987]

Passive income need a lot of persistent dedicated hard work apparently it is one time hard work but my suggestion is when you succeeded in it, then never slow down your hard work because competition is too tough.

 

[eldavis]

Don't get this impression that you will be able to generate passive income overnight. You will have to work hard possible for many years before you can generate passive income.

Very, the reason why so many people fail in earning be offline or online and in any kind of investment is because they assume once they start, they would start getting returns instantly, but the truth of the matter is that these things takes time and energy and most importantly consistency to bring results.

 

[Rubz]

I would advice someone who wants to make passive income to;
- identify his or her interests
- research different passive income opportunities
- be persistent and patient and also to be open minded.

 

[eldavis]

I would advice someone who wants to make passive income to;
- identify his or her interests
- research different passive income opportunities
- be persistent and patient and also to be open minded.

This is a good idea though, one major problem most people have today is that they do not even know what they are interested in, they just do anything they come across that they feel would generate profit for them.

 

[Rubz]

This is a good idea though, one major problem most people have today is that they do not even know what they are interested in, they just do anything they come across that they feel would generate profit for them.

You are right. Sometimes, i do not even blame them. Things have people so bad in the economy today that people do not even have time to discover what they have interest in. They just want what will fetch them money.

 

[timewo]

A large number of websites are discriminating against some investors and refusing to pay the amount which was promised . Though they claim that they are paying investors, some investors cannot withdraw the amount invested.

 

[Suba]

There are two ways to make passive income first by investing and must have some money, secondly joining online earning sites like forums, article sites etc. If he is a novice investor I recommend mutual funds so they can invest regularly, even if it's only $1.

 

[Springtime]

There are many ways to earn passive income. As the interest rate has risen, putting money in a fixed deposit account can earn interest. This is safest way to earn passive income though the amount may be a bit low. If you are prepared to take risks, buy dividend paying stocks and receive dividends. But there is no guarantee that the companies are making profits. If you have lots of money, earning from rental property is the best way to earn passive income.

 

[Magnus2022]

The only advice I will give to a new investor is to avoid HYIP and other online investment schemes. I have lost money through that ponzi schemes.