This is somewhat of a broad topic if anything. I recently graduated college and haven't really been enjoying the work world as much as they talked it up to be all of our lives. Not surprised about that though. Can't see myself working up this way in life or enjoying it long term for that matter. I assume many of the other people on this forum feel the same way in some way or another. In the long run I hope to devote myself to something I can enjoy doing long term. Obviously getting rich isn't necessarily the way to do so, but its an idea.
I looked into some ways of making a passive income or alternative ways to make money. Most of what I found online is either along the lines of some sort of entrepreneurship by selling things online (amazon, ebay, etc.), or through small business. Then things like cryptocurrency or investing.
A lot of the people who speak of entrepreneurship online usually tell you to save money and invest it into a booming industry or an industry that is about to boom. Hence the whole crypto trend going on lately. When it comes to selling an original product, it seems that you have to get lucky more or less, or you'll end up just wasting your time and money.
Here is a rough idea of what I think would have the best financial return based on what I have read thus far (take it with a grain of salt though, as I am nowhere near an expert on these types of things):
1. Making the Money
Obviously you are going to have to make a decent amount of money before you start investing it into things that will give you a high return. Here is what I found so far if you don't already have a fair amount of money saved up.
In instances which aren't as talked about online as much, I found that if you work in a job which people tend to stay away from, due to it being hard labor, you can make within triple figures yearly.
One job in particular is working on an oil rig. Though due to the harsh nature of the job, the employer is required to give you a certain amount of time off. Some sources say that you only work for 6 months out of the year, while others say that the employer makes you work every other week, or two weeks on with one to three weeks off. This job is prone to give you major injuries too. Of these injuries, about 25 out of 100,000 workers die annually when working on an oil rig.
With that said, if you were to work around two years or so in an oil rig, you could then theoretically invest the money into one of the said 'booming industries', and have higher returns than you would have previously on a regular salary. The average oil rig worker makes just under $100,000 a year. Seems like a good job in itself if you do not mind the hard work, especially considering you also get a fair amount of time off. You could potentially rinse and repeat this job yearly if you are up for it without having to invest any money and still live more than comfortably (if thats what you're looking to do). However, that is assuming you could continue to work in such a field for that long of a time, as it would likely take a toll on your body if you go into it halfheartedly or end up overexerting or injuring yourself.
In the long term, you'd probably want to invest the money into a 'booming industry' if you don't want to kill your body over time.
The other obstacle is figuring out what one of these booming industries are. Considering there seems to be a lot of misinformation online about which ones you should and should not invest into.
2. Bar/nightclub:
If one can save around $100,000, I found that one industry that seems to be worth looking into is starting up a bar or a club. According to the internet, starting up a small bar can cost around $20,000 if you are to open up in a small town. If you are to open up a sports bar, it will roughly cost around $100,000 (more than a year of your salary working on an oil rig when you consider taxes). If you were to open up a club, it can cost between $500,000 - $1 million. I assume these numbers are not exact, as I doubt the writers of the sources I found owned a bar/club themselves. Something else you would have to consider is competition of course. Maybe your bar would get shut down because of a better one a town over or something.
The average bar makes about $25,000-$30,000 a week. The average nightclub makes between $5000-$10,000 a night. After you consider the costs of paying employees, taxes, and purchasing the alcohol/food, you would still be making more than a decent living.
2.5. Casino
If you choose to go down the route of opening up a bar/club, and your business is successful, you could then potentially open up a casino. The average casino costs around $500,000 - $1 million to open, and about $50,000 a month in payments. You'd be making around $500,000-$600,000 a night if the business is doing successful. This is assuming you open up in an area that is not Las Vegas or Atlantic City though, as it costs more to start your businesses in already established casino hubs. So look for populated but cheap areas in other words.
3. Hotels and Real Estate
Last idea is to invest the money into real estate within third world countries and open up apartments geared towards the higher class people of these countries, or open up a hotel/resort geared towards other people from the 1st world by marketing it as some sort of "exotic vacation". I haven't looked into this idea as much, but from what I have read, it seems to generally work if you know what you are doing. A thing to consider is international laws, morality, etc. of course. It's not exactly the most moral thing to have third worlders working for slave labor. If one were to get into this, it would probably be best for your own sanity and publicity that you don't make people's lives hell or treat/pay them unreasonably.
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Something else I've been reading about is low cost living alternatives. This type of thing is more popular with the hippy types on the internet. Theoretically, if you were to make 'x' amount of money within a certain amount of time, you could live minimalist and be self sustaining without working a 9-5 job for the most part. Many of these types go off the grid after buying property in the middle of the desert or the mountains. Others will do something like buy an RV or small house and only work for a portion of the year, and become NEETs until their money runs out. Not the most ideal way of living, especially if you want to practice game or build yourself up as a person, but there are plenty of people who are satisfied doing it.
When it comes to passive income, you would only need to make enough to meet your goals, not necessarily become rich. Maybe those goals are practicing game (bar money, travel money, etc.). Maybe something else like mastering a skill set of some sort. After typing this all out, I think I've been overthinking about such things lately. Perhaps the best thing to do in life is to find some sort of direction/purpose more than anything, making money secondary. The current work or educational world doesn't teach these things, but rather get you stuck in a loop.
Either way, what are your perspectives/experiences on passive income, etc.? What do you guys generally do to sustain yourself without being miserable?
I looked into some ways of making a passive income or alternative ways to make money. Most of what I found online is either along the lines of some sort of entrepreneurship by selling things online (amazon, ebay, etc.), or through small business. Then things like cryptocurrency or investing.
A lot of the people who speak of entrepreneurship online usually tell you to save money and invest it into a booming industry or an industry that is about to boom. Hence the whole crypto trend going on lately. When it comes to selling an original product, it seems that you have to get lucky more or less, or you'll end up just wasting your time and money.
Here is a rough idea of what I think would have the best financial return based on what I have read thus far (take it with a grain of salt though, as I am nowhere near an expert on these types of things):
1. Making the Money
Obviously you are going to have to make a decent amount of money before you start investing it into things that will give you a high return. Here is what I found so far if you don't already have a fair amount of money saved up.
In instances which aren't as talked about online as much, I found that if you work in a job which people tend to stay away from, due to it being hard labor, you can make within triple figures yearly.
One job in particular is working on an oil rig. Though due to the harsh nature of the job, the employer is required to give you a certain amount of time off. Some sources say that you only work for 6 months out of the year, while others say that the employer makes you work every other week, or two weeks on with one to three weeks off. This job is prone to give you major injuries too. Of these injuries, about 25 out of 100,000 workers die annually when working on an oil rig.
With that said, if you were to work around two years or so in an oil rig, you could then theoretically invest the money into one of the said 'booming industries', and have higher returns than you would have previously on a regular salary. The average oil rig worker makes just under $100,000 a year. Seems like a good job in itself if you do not mind the hard work, especially considering you also get a fair amount of time off. You could potentially rinse and repeat this job yearly if you are up for it without having to invest any money and still live more than comfortably (if thats what you're looking to do). However, that is assuming you could continue to work in such a field for that long of a time, as it would likely take a toll on your body if you go into it halfheartedly or end up overexerting or injuring yourself.
In the long term, you'd probably want to invest the money into a 'booming industry' if you don't want to kill your body over time.
The other obstacle is figuring out what one of these booming industries are. Considering there seems to be a lot of misinformation online about which ones you should and should not invest into.
2. Bar/nightclub:
If one can save around $100,000, I found that one industry that seems to be worth looking into is starting up a bar or a club. According to the internet, starting up a small bar can cost around $20,000 if you are to open up in a small town. If you are to open up a sports bar, it will roughly cost around $100,000 (more than a year of your salary working on an oil rig when you consider taxes). If you were to open up a club, it can cost between $500,000 - $1 million. I assume these numbers are not exact, as I doubt the writers of the sources I found owned a bar/club themselves. Something else you would have to consider is competition of course. Maybe your bar would get shut down because of a better one a town over or something.
The average bar makes about $25,000-$30,000 a week. The average nightclub makes between $5000-$10,000 a night. After you consider the costs of paying employees, taxes, and purchasing the alcohol/food, you would still be making more than a decent living.
2.5. Casino
If you choose to go down the route of opening up a bar/club, and your business is successful, you could then potentially open up a casino. The average casino costs around $500,000 - $1 million to open, and about $50,000 a month in payments. You'd be making around $500,000-$600,000 a night if the business is doing successful. This is assuming you open up in an area that is not Las Vegas or Atlantic City though, as it costs more to start your businesses in already established casino hubs. So look for populated but cheap areas in other words.
3. Hotels and Real Estate
Last idea is to invest the money into real estate within third world countries and open up apartments geared towards the higher class people of these countries, or open up a hotel/resort geared towards other people from the 1st world by marketing it as some sort of "exotic vacation". I haven't looked into this idea as much, but from what I have read, it seems to generally work if you know what you are doing. A thing to consider is international laws, morality, etc. of course. It's not exactly the most moral thing to have third worlders working for slave labor. If one were to get into this, it would probably be best for your own sanity and publicity that you don't make people's lives hell or treat/pay them unreasonably.
-------
Something else I've been reading about is low cost living alternatives. This type of thing is more popular with the hippy types on the internet. Theoretically, if you were to make 'x' amount of money within a certain amount of time, you could live minimalist and be self sustaining without working a 9-5 job for the most part. Many of these types go off the grid after buying property in the middle of the desert or the mountains. Others will do something like buy an RV or small house and only work for a portion of the year, and become NEETs until their money runs out. Not the most ideal way of living, especially if you want to practice game or build yourself up as a person, but there are plenty of people who are satisfied doing it.
When it comes to passive income, you would only need to make enough to meet your goals, not necessarily become rich. Maybe those goals are practicing game (bar money, travel money, etc.). Maybe something else like mastering a skill set of some sort. After typing this all out, I think I've been overthinking about such things lately. Perhaps the best thing to do in life is to find some sort of direction/purpose more than anything, making money secondary. The current work or educational world doesn't teach these things, but rather get you stuck in a loop.
Either way, what are your perspectives/experiences on passive income, etc.? What do you guys generally do to sustain yourself without being miserable?
