facebookHi guys, I’m 34 years old , would like to find out any ways to earn passive income ? How much should a 34 years old person save by now? 300k? - Seedly

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Anonymous

25 Apr 2022

Career

Hi guys, I’m 34 years old , would like to find out any ways to earn passive income ? How much should a 34 years old person save by now? 300k?

Discussion (3)

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Hi there!

There's alot of ways to earn passive income depending on your level of risk and investment knowledge. And most imortantly, your starting capital.

Here's a list;

  1. Forex Trading (manual/ with aid of AI)
  2. CFD trading
  3. Futures Trading
  4. Options Trading
  5. Value investing with stocks and options strategies
  6. E-commerce
  7. Affiliate marketing
  8. Property Investment/ Co-living

Salary/Emergency funds/Savings must be expenses, not the other way round.

Once the above criteria met,

  1. List out the amount of your Investible F_u_nds. $10K, $50K, $100k..etc.
  2. Ask yourself how much you can afford to lose. 5%, 10%, 20%, 50%?
  3. How long will be your passive income journey? 1, 5, 10, 20 years?
  4. How much time you can allocate for this journey?
  5. Will this journey affects your life/l_lifestyle? E.g. Plan of purchasing a new home/car, family commitments._

A 34 years old person should have saved up to how much depends on;

  1. When does he start working? 18, 20, 30 years old?
  2. How much he can earn per month? $1K, $2K, $5K, $10K, $20K?
  3. Does he follow a strict saving plan of his?
  4. Does he have bad habits or unnecessary spending habits? E.g. Smoking, drinking, like to gamble. Spend on luxury items & expensive hobbies.
  5. How much left after deducting his expenses + family commitments (e.g. kids' education costs, parents' bills)

For my case, i was very bad in my education. Therefore i took a longer than normal educational path. By the time i joined workforce as a full-timer, i was already 27.

Can you imagine? People at age of 27 already have savings or even start a family of 3. Yet i was that tortoise.

When i saw your posting "How much should a 34 years old person save by now? 300k?" , i'm so glad that i'm still around. Haha!

Don't let the figures scare you. Just do your best in this life. You just live once. We live by our rules, not on others.

Do your best, God/fate will do the rest.

1 door shut, few windows will be open.

"船到桥头自然直" (chuán dào qiáotóu zìrán zhí)

"When the boat gets to the bridge-head, it will naturally go straight"

Daniel Chua

27 Apr 2022

Digital Audio Visual Production (Nitec) at ITE

May be more of the extreme end of mindset. But in my opinion as a guy on the internet.

At 30 years old at minimum the networth target should be 200k

While at 35 years old could be 500k.

So that in retirement at let say at 65 till death lets say 85.

there would be atleast about 4,100 per month in that 20 year period if at 65 you achieve a 1 mil NW.

But of course this is all roses and rainbow but it all come down to how much is your pay and how much of that you save/invest.

  • Most common way (proven over long period of time) rental and dividend stocks

  • Other methods e...

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