Welcome to week 3 and the last week of our Dreemport/Silver Bloggers collaboration challenge.
I think this has been a fantastic challenge and it has been fascinating to read other thoughts on Retirement, Generations and now Passive Income.
We have mentioned that participants who have been engaging and sharing posts on threads would be rewarded.
We have not forgotten and have been waiting to have the challenge completed to then see who wore an engagement hat!
Image by Monica Volpin from Pixabay
Passive Income has become a bit of a hot potato in our household at the moment, and the timing of this prompt could not have been any better!
That is where the fun really begins! Pedantic me was proven wrong!
Passive income is money that doesn’t come from paid work. This unearned income includes savings interest, bond coupons (that is, interest), property income, pensions, and so on.
That wee snippet comes from the Motley Fool website, a site I have taken some great financial titbits from over the years.
I love passive income because it works around the clock 24/7, 365 days a year.
The traditional ways are your pensions, your share dividends all that sort of smart saving you were told to do...Of course you never know how much you will get or if they will exist when you want them...
Pension funds raided you know the scoop.
Answers on a post card please!
In short, not in my book, if I look at the time and energy involved it sure as fluff is not passive compared to the rewards etc. Then again fun is fun right?
As far as I am concerned right now the 20% APR for saving your HBD is fluffing awesome, and I am saving what I can on Hive to take advantage of that 20% while it lasts.
Writing on Hive for me is not passive income, sure if you have been here 5,6, 7 years you made the connections, mates and endured what has happened, so yeah when you do hit publish on something you will get hefty rewards. You did the time now you get the reward which is awesome. We get rewarded which is absolutely wonderful, however as my brother-in-law points out...
"When I write I want to be able to sell my writing to whomever I want whenever I want, not to get paid for it once seven days after I publish it."
Sometimes Hive can be a hard sell...
But putting voting mana to use is a form of passive income.
👊 The other way is to find those dividend rewarding layer 2 tokens and scoop them up.
Some of you know we want to live on a canal boat and wander around canals doing this and that, and of course a source of income pops up often. Crypto has been a pot I have been growing for a few years and is the source of buying the boat.
But what about day to day, month to month expenses etc ... that is why Passive Income pops up!
Mrs T is very creative with her hands unlike me. She had was a hairdresser for many years and we owned a salon in Edinburgh. A broken ankle required five hours surgery and a titanium hardware store put paid to that. Even now though she solders PCBs so still creative with her hands ...
She loves her wool or yarn and has been listening to podcasts and is really finally ready to take the plunge and have brand Mrs T up and running...
Blog, youtube etc etc she is an avid consumer of content and has been analysing what works and what does not.
In the crochet world it is not selling your fancy fluffing hats that makes you money ... Oh fluff no, it is the selling of the pattern again and again and ka-ching! It is the video tutorial that gets viewed again and again and ka-ching... It is the blog with photos and step by step instructions that gets read again and again and ka-ching.
I have been involved in one shape or form with crypto sites and online marketing for a good ten years now and this always has bemused Mrs T. She remembers the days of HYIPS and acquaintances being jailed so she will stay clear of any non mainstream sites...
Hive she gets but does not get... She likes the idea of 3speak for example, but also says why would content creators use it if they are doing good on youtube.
That is the sort of reason I stopped inviting people to online things.
But Mrs T and my brother-in-law do make some cracking arguments for passive income. They see the need for it although they both call it residual income.
Me, I will stick to saving HBD on Hive, and doing various other things on other blockchains.
One thing I do know, is that Matilda needs to be wound down so that I can help Mrs T get brand Mrs T up and running and get her some passive income so that you know I can float her boat!
Have you thought about your Passive Income wants and needs?
All images and ramblings are from me, the mad Scotsman TengoLoTodo unless otherwise stated.
Haste Ye Back!
https://alpha.leofinance.io/threads/view/silverlions.leo/re-leothreads-272uadja
and
@silverlions.leo will be handing out some $LEO for dreemers and Silver Bloggers that are engaging on the prompts and threads in this collaboration .....