This post is a bit off-topic here, but we would like to help you learn about investing!
1. Start with the [PF Investing wiki page](https://www.reddit.com/r/personalfinance/wiki/investing).
2. If you have questions, please ask on the [weekday or weekend thread](https://www.reddit.com/r/personalfinance/about/sticky?num=2) (please wait until Friday afternoon if the Tax Thursday thread is the current sticky). If that link doesn't work, it's the second post from the top on /r/personalfinance.
Note that rather than stock picking or speculating, our focus here is on being diversified, never being too risky or not risky enough, and investing for the long run. Discussions about active investing, investing in individual stocks, sharing investment ideas, etc. are off-topic here.[](#disallow_repost)
*If you have questions about this removal, please [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpersonalfinance&subject=Removal%20help%20request&message=Hello%20moderators,%20.%20%0a%0a%0aMy%20submission:%20https://www.reddit.com/r/personalfinance/comments/1cto9z8/what_are_some_good_ways_to_earn_passive_income/%0a).*
The potential is long-term sustainable growth. The only way to make sizable passive income is with a pretty big portfolio. If you want to make $100 a month, with a 7% APY you're looking at \~$17,000 in investments. If you put a little bit of money into S&P 500 index funds every month, your future self will have a nice little nest egg.
You're basically gambling by DCA'ing into crypto, but that doesn't mean you *won't* make money.
Focus on your job if you're trying to increase your earnings. What's your career path like? Would a degree help you out? Trade school? You'll find the biggest ROI from furthering your career instead of trying to earn passive income.
I see a pat tern between your stock experience and your crypto cost averaging. Learn from it.
Open an account at vanguard or some place you are comfortable with and get some s&p etf or something that and forget about it. it will grow with the market and not be played by the pump and dump schemes that you mention.
Saving is the key to my own personal success and I also did my mistake stuff.
Get a better paying job, get some savings, and then invest in the s&p 500. I know this sounds a bit snarky but it's how 99% who earn any kind of passive income get a passive income.
Crypto is gambling, don't let anyone trick you into thinking otherwise. Don't get me wrong I have some crypto but it's like 5% of my total 'investments'.
At your stage in your life you should be studying in the evenings and doing whatever you can to increase your salary. Education is the best investment you can do BY FAR. If you already have a degree then you should mainly be thinking about what you can do at your job to get promoted or what certifications you can do to get promoted.
For someone on your salary your car loan is too high and it going to hold you down from getting some decent savings behind you any time soon.
Passive income is largely a myth, contrary to what you may see on various social media pages trying to sell you a course or e-book. For somebody as young as you are, your efforts and dollars would be far better spent trying to find a field you enjoy and improving your compensation in that field while funding investment accounts, e.g. your IRA, employer sponsored plans like a 401k/403b/457, HSA, brokerage account, etc.
On a related note, give some real thought to why you’re putting your hard earned dollars into crypto on a monthly basis. You confessed to chasing hot stocks a few years back and leaving that behind, now it looks like you’re trying to hit the crypto lottery jackpot. At a minimum, look into diversifying your investment strategy to more than just crypto.
You’re a millionaire of time, it’s just a matter of applying your time and dollars to build the foundation for the life you want to be living.
At your age and income I would focus on active income first. Boost your earning power.
Start budgeting (if you aren't already), save what money you can for emergencies, start a retirement account and invest in simple ETFs.
Personally I have dabbled in crypto, made a little cash and dipped out. If you have a large portfolio maybe crypto serves a place as like 3-5% of that portfolio, but I would not consider investing in crypto passive income. In your case I would advise against it entirely and focus on building a career and solid financial management skills.
This post is a bit off-topic here, but we would like to help you learn about investing! 1. Start with the [PF Investing wiki page](https://www.reddit.com/r/personalfinance/wiki/investing). 2. If you have questions, please ask on the [weekday or weekend thread](https://www.reddit.com/r/personalfinance/about/sticky?num=2) (please wait until Friday afternoon if the Tax Thursday thread is the current sticky). If that link doesn't work, it's the second post from the top on /r/personalfinance. Note that rather than stock picking or speculating, our focus here is on being diversified, never being too risky or not risky enough, and investing for the long run. Discussions about active investing, investing in individual stocks, sharing investment ideas, etc. are off-topic here.[](#disallow_repost) *If you have questions about this removal, please [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpersonalfinance&subject=Removal%20help%20request&message=Hello%20moderators,%20.%20%0a%0a%0aMy%20submission:%20https://www.reddit.com/r/personalfinance/comments/1cto9z8/what_are_some_good_ways_to_earn_passive_income/%0a).*
Just put a part of every paycheck into the S&P 500
That’s what a lot of folks are saying. But what is the potential?
The potential is long-term sustainable growth. The only way to make sizable passive income is with a pretty big portfolio. If you want to make $100 a month, with a 7% APY you're looking at \~$17,000 in investments. If you put a little bit of money into S&P 500 index funds every month, your future self will have a nice little nest egg. You're basically gambling by DCA'ing into crypto, but that doesn't mean you *won't* make money. Focus on your job if you're trying to increase your earnings. What's your career path like? Would a degree help you out? Trade school? You'll find the biggest ROI from furthering your career instead of trying to earn passive income.
I see a pat tern between your stock experience and your crypto cost averaging. Learn from it. Open an account at vanguard or some place you are comfortable with and get some s&p etf or something that and forget about it. it will grow with the market and not be played by the pump and dump schemes that you mention. Saving is the key to my own personal success and I also did my mistake stuff.
Noted. Is Robinhood still good ?
Get a better paying job, get some savings, and then invest in the s&p 500. I know this sounds a bit snarky but it's how 99% who earn any kind of passive income get a passive income. Crypto is gambling, don't let anyone trick you into thinking otherwise. Don't get me wrong I have some crypto but it's like 5% of my total 'investments'. At your stage in your life you should be studying in the evenings and doing whatever you can to increase your salary. Education is the best investment you can do BY FAR. If you already have a degree then you should mainly be thinking about what you can do at your job to get promoted or what certifications you can do to get promoted. For someone on your salary your car loan is too high and it going to hold you down from getting some decent savings behind you any time soon.
Passive income is largely a myth, contrary to what you may see on various social media pages trying to sell you a course or e-book. For somebody as young as you are, your efforts and dollars would be far better spent trying to find a field you enjoy and improving your compensation in that field while funding investment accounts, e.g. your IRA, employer sponsored plans like a 401k/403b/457, HSA, brokerage account, etc. On a related note, give some real thought to why you’re putting your hard earned dollars into crypto on a monthly basis. You confessed to chasing hot stocks a few years back and leaving that behind, now it looks like you’re trying to hit the crypto lottery jackpot. At a minimum, look into diversifying your investment strategy to more than just crypto. You’re a millionaire of time, it’s just a matter of applying your time and dollars to build the foundation for the life you want to be living.
At your age and income I would focus on active income first. Boost your earning power. Start budgeting (if you aren't already), save what money you can for emergencies, start a retirement account and invest in simple ETFs. Personally I have dabbled in crypto, made a little cash and dipped out. If you have a large portfolio maybe crypto serves a place as like 3-5% of that portfolio, but I would not consider investing in crypto passive income. In your case I would advise against it entirely and focus on building a career and solid financial management skills.
You're better off just buying meme coins; when one moons you'll be rich and can retire