Passive Income: Learn this secret trick.. JK

westcoastbestcoast

Besides working as an attorney, do you guys plan to have or do you already have multiple sources of income? What are some good passive income streams to consider for a busy professional like an attorney? Many would say cryptocurrencies, but the market is highly volatile and I'm willing to get a lower ROI in exchange for stability. Plus, it's hard to be risky when you have student loans to consider haha.

sbc.mom_3x

I own a rental property. A house, that I manage on my own. I've done well with it. I've had it several years. It's funny, I know a handful of lawyers that own rental homes. So, just a thought. I'd love to acquire more in the future. But I do prefer to keep it a side thing.

westcoastbestcoast

@"sbc.mom_3x" said:
I own a rental property. A house, that I manage on my own. I've done well with it. I've had it several years. It's funny, I know a handful of lawyers that own rental homes. So, just a thought. I'd love to acquire more in the future. But I do prefer to keep it a side thing.

My boss did recommend me to get rental properties of my own. It is definitely something to consider. With technology, I was also thinking about ebooks or doing an online course. Hopefully I could do something law related with those haha.

goingfor99th

I plan to invest when I'm no longer a poor college kid. Until then...

AudaciousRed

Personally, I would stay away from crypto. Every friend I know in banking and wealth management says it's a disaster waiting to happen. Definitely not a long term thing.

As far as multiple sources? It would be nice to think I'd have time for that. Could be fun to be a part time teacher, or perhaps full-time teacher and part time attorney. Believe it or not, I had a shop teacher who did this. The school was steady and stable income with insurance and benefits, and the other provided some decent money, but the work was more infrequent (it was a rural area).

NotMyName

if you have a car, GetAround was a great source of passive income for me while I was living in sf. the app is only available in a few cities though. I made about $10k per year gross and never had any significant issues.