Just wondering, as i am bored an curious because I’m in a position in life where i can get a job/cant travel to work. I remeber before I switched to lemmy and back when I used reddit, most people would promote their affiliate stuff or something, which really bothered me as it was quite common.
What legitimate ways are there to make money on the side from online without having a job? If you have questions, please leave a comment.
The only way to make money without work is to be part of the owner class that lets others do all the work.
For the most part, the owner class does have a job. They have to buy and sell the things they own. They have to maintain relationships so they can get a better deal. And they gave to use thier influence to increase the value of what they own. It’s all fake work of course. It doesn’t increase the productive output overall. But it is a job. And pretty much full time at that.
The real answer is to be the kid of one of these people. Then you can make your money the old fashion way, inherit it.
Technically, I’m sorry, but that’s incorrect. Even if you own a company, you are still doing work. You may not be doing the physical manual labor, but you’re still doing work.
Not if you are rich enough you don’t. Most people still do because everybody needs something worthwhile. But you don’t strictly need to work when you have reached some arbitrary level of wealth and ownership.
If you parked a million dollars in QYLD, you’d get about $120k per year (pretax) in exchange for your contribution to society of “having a spare million dollars”
I will of course do my own reading on the subject, but how consistent is this? Does it have to be a million, or can it be a couple hundred? I am selling everything and seeking asylum overseas and may not have much ability to work for a while. Please tell me more.
It’s an ETF, you can buy as much or as little as you want. My understanding is that they take their money and sell options (covered calls) with at-the-money strike prices on NASDAQ. Each month, they pay out dividends, something like 1% per month (bit over 12% on a yearly basis). So if you park 100$, you get like a free dollar per month, or 12 per year.
It’s not hugely popular because you pay short term gains taxes on the dividends, a lot of tech does better than 12%, the shares can decrease in value if NASDAQ goes down, and if you wanted to (and had the startup cash), you could do the exact same thing without paying the ETF fees - buy 100 shares of QQQ for 62k, then sell a covered call for a month out, rinse repeat
And how did you get that million?
Inheritance. Your move.
You think they got it by “working” ??😂😂😂
Usually, rich parents.
Just a simple loan to start off. Just a million dollar loan
“be part of the owner class” they said - not “be a business owner”
It’s completely possible to own a piece of this and a piece of that and just sit and watch the checks come in. You just need to enter the picture with enough liquid cash. You’re not sorry they’re technically incorrect - you just don’t know anyone actually in this class.