FabSwingers.com forum: Passive income

By *7840 OP Man
over a year ago

drogheda

Has anyone got some nice side gigs going or anyone into day trading stock ? Any tips ?

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By (user no longer on site)
over a year ago

Yeah, due diligence, due diligence, due diligence.

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By *itemeagainMan
over a year ago

Wexford

Fuck it man ... I getting to a stage where I accepting that I don't want to chase money ... I just want to be busy and happy .

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By *7840 OP Man
over a year ago

drogheda

Care to elaborate haha

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By *7840 OP Man
over a year ago

drogheda

Absolutely money isn’t everything, but with the right motivation and skills you can work less and have more time to enjoy life

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By *om TangoMan
over a year ago

aughnacloy monaghan area

"Has anyone got some nice side gigs going or anyone into day trading stock ? Any tips ? "

What r u into. Like hard heavy work, happy to face the wet and cold weather. Have u a van, how strong and able r u. Are u good with people, can u talk the talk and walk the walk. Ready to get your hands dirty,wet and hacked for the winter months. Can u deal with the public. Storage area under a roof?!

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By *7840 OP Man
over a year ago

drogheda

Currently farming and a spark …hoping for something a little less hard on the body haha

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By *heelofTimeCouple
over a year ago

Two Rivers

I have my finger in a few pots at the moment. What I have made money on and also lost money on in recent years is some of the new start ups such as medical device companies.

Made a nice few euros during Covid on stock such as Uber etc bought low sold once went back up

I also buy stock in companies which are looking to merge with others typically if purchased on time you can make a nice profit.

Note though stock can be volatile like gambling you can loose it all if invest unwisely. I have lost money over the years but never have all my Penney’s in the one pie. Do your homework and it can pay off.

Xxx Missy

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By *heelofTimeCouple
over a year ago

Two Rivers

"Yeah, due diligence, due diligence, due diligence."

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By *ursecretmischiefCouple
over a year ago

The West

" I have my finger in a few pots at the moment. What I have made money on and also lost money on in recent years is some of the new start ups such as medical device companies.

Made a nice few euros during Covid on stock such as Uber etc bought low sold once went back up

I also buy stock in companies which are looking to merge with others typically if purchased on time you can make a nice profit.

Xxx Missy

Covid stocks were a wild bubble!..The amount of cash that entered the market from people who had no idea,was ridiculous!

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By (user no longer on site)
over a year ago

Covid was just the tip of the cheap money iceberg. We had over a decade of it; it's all coming home to roost now.

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By *heelofTimeCouple
over a year ago

Two Rivers

" I have my finger in a few pots at the moment. What I have made money on and also lost money on in recent years is some of the new start ups such as medical device companies.

Made a nice few euros during Covid on stock such as Uber etc bought low sold once went back up

I also buy stock in companies which are looking to merge with others typically if purchased on time you can make a nice profit.

Xxx Missy

Covid stocks were a wild bubble!..The amount of cash that entered the market from people who had no idea,was ridiculous!"

Ideas of quick money without putting in the hard work of researching what investing in.

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By *electableicecreamMan
over a year ago

The West

I have a friend who lost €250k in day trading and crypto.

Also I have a bridge to sell if anyone is interested.

If you really want some lazy cash have a look at r/beermoney and r/sidehustle on Reddit . Lots of people do academic surveys. Your mileage may vary.

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By *astelloWoman
over a year ago

Far far away

Crypto.. Too late to the party...

Crashed and burned...

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By *astelloWoman
over a year ago

Far far away

[Removed by poster at 24/08/23 22:01:31]

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By (user no longer on site)
over a year ago

Elite Trader is a good site to go for a read. Motley Fool is also very good and has a free version.

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By (user no longer on site)
over a year ago

I mess around with wood work tried to get into selling some pieces but didn't take off... I'd love a little side hustle

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By *ilthyNightsCouple
over a year ago

East / North, Cork

I make about 500pm from 1 hours baking each Saturday morning.

Herself runs private drama classes .

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By *ilthyNightsCouple
over a year ago

East / North, Cork

Neither of our side hustles are what id consider passive income though.. and neither is the stock market or nearly all those mentioned so far.

Don't believe the insta-bullshit. They play this stuff up for views for which they get income.. but that's not passive income either as videos take time and effort (and money) to make.

The only real reliable passive incomes that exist require you to have money to begin with to make interest/dividends etc but are nearly never risk free. A fool and his money etc.

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By *hinbutlong1Man
over a year ago

Trim

Short pfizer, Microsoft and Stripe it’s a gamble but if trump gets back in which is more likely than you think they will fall a good bit .. also intel stock is very under valued …that’s if you trade

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By *hinbutlong1Man
over a year ago

Trim

"Short pfizer, Microsoft and Stripe it’s a gamble but if trump gets back in which is more likely than you think they will fall a good bit .. also intel stock is very under valued …that’s if you trade "

And obviously don’t go in blind if you’ve never traded before .. shorting stock is a risky game but those 3 are the main Dem stock .. if trump gets back in I’ll be a rich man if he doesn’t I’ll need a left of a 5er

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By (user no longer on site)
over a year ago

What about alternative investments , other than stocks

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By *hinbutlong1Man
over a year ago

Trim

"What about alternative investments , other than stocks"

The obvious..land

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By *ony_Stark32Man
over a year ago

Dublin

I've my crypto staked, a nice little earner

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By *ilthyNightsCouple
over a year ago

East / North, Cork

Any investment that gives you enough short term payback to be considered "passive income" is inherantly risky and risky investment over enough time will nearly always mean you'll lose your shirt at some point.

Rather look for work-life balance and sensible levels of return.

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By *hinbutlong1Man
over a year ago

Trim

Passive income is owning a house that you rent same with land

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By *ilthyNightsCouple
over a year ago

East / North, Cork

"Passive income is owning a house that you rent same with land "

..which requires a lot of cash up front to buy said property, and produces relatively small income once the required upkeep and taxes are paid. There are often better investments if you have that kind of cash.

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By *ay_Gatsby_D4Man
over a year ago

Ballsbridge, City Centre

"Neither of our side hustles are what id consider passive income though.. and neither is the stock market or nearly all those mentioned so far.

Don't believe the insta-bullshit. They play this stuff up for views for which they get income.. but that's not passive income either as videos take time and effort (and money) to make.

The only real reliable passive incomes that exist require you to have money to begin with to make interest/dividends etc but are nearly never risk free. A fool and his money etc."

Also a lot of those passive incomes sidehustles are Multi Level Marketing schemes

You sign up to the FX trading or day trading training academy’s which are a few hundred a touch. Realise you make fuck all money but for everyone you sign up to the schemes you make €100 so it’s more profitable to sign ppl up than actually trade and the circle of bullshit continues

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By *ilthyNightsCouple
over a year ago

East / North, Cork

Yeah we fell out with some family over some MLM shite. By the time someone sells you the side hustle it's already overdone. May as well go buy NVIDIA today now that the sales are priced in... or buy bitcoin.

The ones who make the real money are the ones on comission for selling the side hustle to someone else.

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By *og-ManMan
over a year ago

somewhere

Whats wrong with working for a living

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By *ilthyNightsCouple
over a year ago

East / North, Cork

"Whats wrong with working for a living

That wouldn't get nearly enough views

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By *r_Insatiable666Man
over a year ago

Cork

"Passive income is owning a house that you rent same with land

Land is a finite commodity, still you're right about the overhead. Any economist that tells you they know the value of your land in a year or more is probably bullshitting.

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By *r_Insatiable666Man
over a year ago

Cork

I was thinking of bonds or a second business but Ireland doesn't have very recession proof industries.

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By *heelofTimeCouple
over a year ago

Two Rivers

I do think adding purchasing shares to add onto your income is a great way to boost salary. As mentioned previously though it is high risk and should be done properly aka research research research.

Using online methods to purchase is not a viable way to go about purchasing using reputable Irish companies is the route to go down. If unsure go talk to a local finance advisor they will point in the correct direction of reputable companies.

Missy xxx

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By *indenMan
over a year ago

Naas which is South West of Dublin

I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed…..

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By *ilthyNightsCouple
over a year ago

East / North, Cork

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed….."

Are you looking to spread your investment?

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By *indenMan
over a year ago

Naas which is South West of Dublin

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed…..

Are you looking to spread your investment?"

If it pays off I’ll be initiating spreading it mostly to the drinks industry….

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By *ilthyNightsCouple
over a year ago

East / North, Cork

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed…..

Are you looking to spread your investment?

If it pays off I’ll be initiating spreading it mostly to the drinks industry….

Improve your liquidity good idea

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By *ofusplusCouple
over a year ago

Limerick

"Passive income is owning a house that you rent same with land "

Hearing the stories about nightmare tenants (and there are many) would be enough to put us off that idea.

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By (user no longer on site)
over a year ago

Property is always a winner

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By *indenMan
over a year ago

Naas which is South West of Dublin

"Property is always a winner

Yes, a proven track record indeed….

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By *og-ManMan
over a year ago

somewhere

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed….."

What race

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By *affa31Woman
over a year ago

Galway

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed…..

Are you looking to spread your investment?

If it pays off I’ll be initiating spreading it mostly to the drinks industry….

Improve your liquidity good idea"

I have a delightful image of a _inden puddle in my head now

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By *heelofTimeCouple
over a year ago

Two Rivers

"Property is always a winner

Only when purchase when the property is at a low is the time to make money through this means. We sold property we were renting due to what had been mentioned above property being destroyed, rent not being paid etc. Property if can hold onto it long term can be a way to make money but it’s not a way to make short term income, in fact short term can cost you money.

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By *indenMan
over a year ago

Naas which is South West of Dublin

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed…..

Are you looking to spread your investment?

If it pays off I’ll be initiating spreading it mostly to the drinks industry….

Improve your liquidity good idea

I have a delightful image of a _inden puddle in my head now

If it pays off I’ll be pouring myself into a bottle of Midleton later…..

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By (user no longer on site)
over a year ago

Re property

A lot of accidental landlords and people very inexperienced that have got badly burnt. However if you are serious and know what you are doing, it is non stop cash cow.

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By *om TangoMan
over a year ago

aughnacloy monaghan area

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed….."

Did you back a horse in today’s races?

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By *heelofTimeCouple
over a year ago

Two Rivers

[Removed by poster at 25/08/23 15:44:45]

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By *heelofTimeCouple
over a year ago

Two Rivers

"Re property

A lot of accidental landlords and people very inexperienced that have got badly burnt. However if you are serious and know what you are doing, it is non stop cash cow. "

I disagree people can appear good tenants on paper BUT you never know until they are in what they are like and how they treat things. We had tenants from all walks of life and almost always got burnt. I suppose we could have left the house wrecked for the next set of tenants or allowed people not pay rent. If I was renting, I wouldn’t like to live in something substandard while paying big sums of money for a property. A lot of landlords do this resulting in them making profit.

Not new to renting my family own quite a few properties and are also got out of it in recent years. They have been renting properties since the 80s. They said things have changed in recent years not worth the hassle nor the expense anymore.

Missy xxx

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By *ursecretmischiefCouple
over a year ago

The West

"Re property

A lot of accidental landlords and people very inexperienced that have got badly burnt. However if you are serious and know what you are doing, it is non stop cash cow.

Missy xxx"

Yep, I've seen some shit!...

Watched two relatives where one controlled the other until they were both so reclusive, they closed curtains and never left the apartment for 18 months, ordering takeaway ever night. Had to begbtheir family to get them out. No help from PRTB. No rent or bills paid.

Another waster couple with a toddler, had house parties every weekend, inviting in random strangers off the street, while off their heads on drugs. Toddler left alone in bedroom. No rent or bills paid!

Another where doors were damaged, holes in partitions. PRTB only offered a fraction of costs because I bollocked them when I arrived after neighbour called!

Don't expect to make a penny off rental property for at least 15yrs-20yrs!

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By *astelloWoman
over a year ago

Far far away

Property is hard work. Ive been a landlord for nearly 20 years and I've had my fair share of nightmares. From the couple who used the shed for used nappies and drink. To the nye when the guards broke into the house for me.. So its not a quick win. To couple who married for the visa.

Not only has it changed me, but the tax man gets most of the profit.

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By *XlalaXXWoman
over a year ago

tipperary

Interesting thread well done @_inden I’m intrigued

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By (user no longer on site)
over a year ago

I've a 2nd property that I could rent out but I choose not too mainly because of horror stories, have it nearly 10 years and have only rented it for 4 months in total to someone I knew very well..it comes in handy for meets though

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By *ed_LaFontaineMan
over a year ago

Dublin

During the covid oil stocks went up nicely. Shell for example is still up about 25% compared to what it was during the pandemic.

Oil trusts also can generate 5-10% yearly returns in dividends

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By *ilthyNightsCouple
over a year ago

East / North, Cork

"During the covid oil stocks went up nicely. Shell for example is still up about 25% compared to what it was during the pandemic.

Oil trusts also can generate 5-10% yearly returns in dividends"

Oil is by no means a dead cert. 2022 average was over $100 a barrell, 2023 so far under $80 average. Money can easily be lost. Something like oil depends as much on speculation than supply and demand.

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By *anandJCouple
over a year ago

Citywest

No such thing as passive income.

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By *itemeagainMan
over a year ago

Wexford

"Care to elaborate haha"

I guess what I mean is I no longer want to chase the happier life test a certain level of money cansiposibly bring. Is life is far too short. Those who live the longest in the world and the healthiest in the world have meaning and purpose in their life yet all come from poorer places .

These people live to live. Unlike us who work to live.

I'm beginning to feel that while being successful and enjoying pressure ,, I maybe drifting further from who I was as a child and who I would be without societal conditioning.

Simply push I want to be happy no matter what the circumstances. I no longer feel that is achievable if I am constantly chasing something to improve the circumstances and to create this notion of an easy or ideal work-life balance.

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By *itemeagainMan
over a year ago

Wexford

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed….."

You ain't winning the lotto man

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By *ursecretmischiefCouple
over a year ago

The West

"During the covid oil stocks went up nicely. Shell for example is still up about 25% compared to what it was during the pandemic.

Oil trusts also can generate 5-10% yearly returns in dividends

Covid was mad, a gold stock I had rose in value from €200 to €4000....and no I didn't sell! Worth about €1000 now!

Trading is so hard, huge discipline required, risk management with a strict plan and no emotions. I'm years watching and practicing without ever really going at it.

Investing is slower than Trading, but probably brings more success. The S&P 500 has continually rose for decades, a few bumps, but just ride them out!

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By *indenMan
over a year ago

Naas which is South West of Dublin

"I made a low outlay, short term, high risk, high yield investment earlier today and I should know by tonight if it was successful, fingers crossed…..

You ain't winning the lotto man

You don’t know that…..

Cause I haven’t checked the ticket yet……

I’m going to have a shower now and dream about what I’ll spend all that money on, while the dream is still alive, before I check the ticket…..

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By *ilthyNightsCouple
over a year ago

East / North, Cork

"Care to elaborate haha

These people live to live. Unlike us who work to live.

I'm beginning to feel that while being successful and enjoying pressure ,, I maybe drifting further from who I was as a child and who I would be without societal conditioning.

Couldn't agree more. I left a UK corporate life living in hotels, travelling constantly, big wages/bonus/shares, car allowance, expense account etc etc... for a new life in rural Ireland making stuff with my hands as an artisan.

Couldn't recommend leaving the rat race more. It's just not worth it. Life shouldn't be about making a shareholder who doesn't give ve a fuck about you a little richer each year.

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By *arrot_in_a_boxCouple
over a year ago

kinda dublin

My name is CaptainBrownStain on Panty Deal.

Look it up,

Check it out,

What's in store, The Big Red Book.

In stores now.

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By *indenMan
over a year ago

Naas which is South West of Dublin

The Big Short is on RTE2 at the moment….

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By *lay rock69Man
over a year ago

monaghan

Have a few side jobs hard work one cash in hand

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By *ed_LaFontaineMan
over a year ago

Dublin

"During the covid oil stocks went up nicely. Shell for example is still up about 25% compared to what it was during the pandemic.

Oil trusts also can generate 5-10% yearly returns in dividends

Covid was mad, a gold stock I had rose in value from €200 to €4000....and no I didn't sell! Worth about €1000 now!

Trading is so hard, huge discipline required, risk management with a strict plan and no emotions. I'm years watching and practicing without ever really going at it.

Investing is slower than Trading, but probably brings more success. The S&P 500 has continually rose for decades, a few bumps, but just ride them out!"

You always have the urge to hold "because it can still go up". And then you are in red and waiting and diluting to get even lol

Human greed is a very interesting psychological subject

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By *hinbutlong1Man
over a year ago

Trim

"During the covid oil stocks went up nicely. Shell for example is still up about 25% compared to what it was during the pandemic.

Oil trusts also can generate 5-10% yearly returns in dividends

Covid was mad, a gold stock I had rose in value from €200 to €4000....and no I didn't sell! Worth about €1000 now!

Trading is so hard, huge discipline required, risk management with a strict plan and no emotions. I'm years watching and practicing without ever really going at it.

Investing is slower than Trading, but probably brings more success. The S&P 500 has continually rose for decades, a few bumps, but just ride them out!

You always have the urge to hold "because it can still go up". And then you are in red and waiting and diluting to get even lol

Human greed is a very interesting psychological subject

Telling yous when Trump gets back in he’s gonna make sure the big pharma companies suffer lol don’t believe what ye see on RTE news he’s currently leading all polls ..

Whatever happens in the US has a direct impact on us .. Dems are scum

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By *ilthyNightsCouple
over a year ago

East / North, Cork

Trump IS NOT currently leading polls Vs Biden. It's pretty even right now.

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By *lorentino ArizaMan
over a year ago

Killarney

If Trump gets in again, god help us all!

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By *og-ManMan
over a year ago

somewhere

"The Big Short is on RTE2 at the moment…."

Fantastic film

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By *hinbutlong1Man
over a year ago

Trim

"If Trump gets in again, god help us all!"

Had the economy booming .. Dems just taxing us for everything open your eyes

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By *ORETHANUSCouple
over a year ago

Midlands

There have been many sensible posters here and some sage advice given. Just to add to it form experience. You need to research whatever it is that you are thinking of putting hard earned money into. That could be art, watches, diamonds or whiskey for example but these tend to be illiquid.

Lets look at cryto or commodities such as gold or silver. These do not give a dividend and the potential upside or downside is dependent on a collective valuation at a point in time. The same is true for certain stocks where the company are not paying a dividend. You are relying on the stock price increase.

Divident bearing stocks have both the potential for gains on stock price and a dividend return. As mentioned by many posters these have risks of downside and no dividend if economic conditions change. What you are looking for in these stocks is the price you buy at and the dividend potential.

Key advice across all of this is diversifying across asset classes if you can and across markets. If it was stocks you could have bank, tech, food, processor based and mixture of dividend bearing stocks. If you like watches you could buy to wear to enjoy and perhaps sell.

If it looks to good to be true it usually is folks. Wishing you all success with you hard earned money. Try not to spend what you cannot afford to lose. Have a great day

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By *lorentino ArizaMan
over a year ago

Killarney

Just cannot get my head around crypto, to me it's basically a line of useless code that requires vast amounts of energy to "mine". Not for me.

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By *ay_Gatsby_D4Man
over a year ago

Ballsbridge, City Centre

"If Trump gets in again, god help us all!

Had the economy booming .. Dems just taxing us for everything open your eyes "

Us?

I think the social media algorithms are taking you for a ride

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By *og-ManMan
over a year ago

somewhere

Put it all on Black.....or Red...no definitely Black ....I think

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By *lorentino ArizaMan
over a year ago

Killarney

"Put it all on Black.....or Red...no definitely Black ....I think "

Being a bog man surely you have it all in the black stuff.

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By *iktikiCouple
over a year ago

city centre

Making money honestly and morally involves hard work, self sacrifice and diligence wether your sitting on your arse in front of a computer or out getting your hands dirty.

The guys offering “get rich quick” schemes in any form will make money but only if the people they are pushing the scheme on to and have no problem pushing you under the bus and walking away rubbing their hands in glee until they invent a new let’s all “get rich quick” plan.

Our mainstream banks could be labelled with the same sticker.

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By *ursecretmischiefCouple
over a year ago

The West

"Just cannot get my head around crypto, to me it's basically a line of useless code that requires vast amounts of energy to "mine". Not for me."

Cash is just a piece of paper, backed by gold that takes vast amounts of energy to mine.

It's all in the head really, it's the volatility that keeps me away from it!

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By *ilthyNightsCouple
over a year ago

East / North, Cork

"Just cannot get my head around crypto, to me it's basically a line of useless code that requires vast amounts of energy to "mine". Not for me.

Cash is just a piece of paper, backed by gold that takes vast amounts of energy to mine.

It's all in the head really, it's the volatility that keeps me away from it!"

This. I've nothing against crypto as a currency that can be used for transactions. That's not how it's evolved to be used really. People don't use it to buy stuff mostly. It's used as an investment that people speculate will increase in value. It's up and down all over the place and subject to mass manipulation by the whales. That makes it tricky to use as a payment system due to the value fluctuation. Often (bitcoin) transactions take a crazy amount of time to confirm receipt which makes them cumbersome and slow to use for buying stuff. I'm sure there will be a resurgence at some point as the principles are sound, but it won't be bitcoin. The idea of using a blockchain based system for payments and cryptographic scarcity is great though!

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By (user no longer on site)
over a year ago

I used to play poker online and managed to sustain my life style through it play about 3 days a week, much harder now so don't play as much.

I now am into various business types and have fingers in pies and do alright for myself and my family, I love business and making money, it gets addictive.

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By *ursecretmischiefCouple
over a year ago

The West

"If Trump gets in again, god help us all!

Had the economy booming .. Dems just taxing us for everything open your eyes

Us?

I think the social media algorithms are taking you for a ride"

No they're not!...It literally says Biden on your tax return, bastard so he is!

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By *ford dudeMan
over a year ago

County

Whiskey is a decent long term investment. Middleton rare or one of the new Kerry distilleries.

Wait a decade and you could handily x5 any investment. If you don't you'll still have a very nice drink.

Had a 15 year old bottle bought for 350. Sold for 3k.

The rest of my investments were liquidated in a more enjoyable fashion!

Easy money is usually the hardest to earn!

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By *ay_Gatsby_D4Man
over a year ago

Ballsbridge, City Centre

"If Trump gets in again, god help us all!

Had the economy booming .. Dems just taxing us for everything open your eyes

Us?

I think the social media algorithms are taking you for a ride

No they're not!...It literally says Biden on your tax return, bastard so he is!"

I blame Pelosi……

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By (user no longer on site)
over a year ago

Anyone ever buy a cask

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By (user no longer on site)
over a year ago

Sports and other trading cards are good investments, if you can find some rare ones they can be worth thousands and then if you go and get them graded to a high score then they can be worth 3x or 5x or even 10x as much.

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