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;
- Forex Trading (manual/ with aid of AI)
- CFD trading
- Futures Trading
- Options Trading
- Value investing with stocks and options strategies
- E-commerce
- Affiliate marketing
- Property Investment/ Co-living
Salary/Emergency funds/Savings must be expenses, not the other way round.
Once the above criteria met,
- List out the amount of your Investible F_u_nds. $10K, $50K, $100k..etc.
- Ask yourself how much you can afford to lose. 5%, 10%, 20%, 50%?
- How long will be your passive income journey? 1, 5, 10, 20 years?
- How much time you can allocate for this journey?
- 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;
- When does he start working? 18, 20, 30 years old?
- How much he can earn per month? $1K, $2K, $5K, $10K, $20K?
- Does he follow a strict saving plan of his?
- Does he have bad habits or unnecessary spending habits? E.g. Smoking, drinking, like to gamble. Spend on luxury items & expensive hobbies.
- 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"
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;
Salary/Emergency funds/Savings must be expenses, not the other way round.
Once the above criteria met,
A 34 years old person should have saved up to how much depends on;
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"