Do you have an income supplement without working?

[97guns]

im curious if anyone has a way to make mad money without working. ive been selling plants and cuttings on ebay for the past 2 years and have netted around 3K, we make maybee $50 a week on the low end to $250 in the spring/summer time. the plants regrow and we never have to buy new stock, the only expense we have is the ebay fee's and shipping, everything else is juice.

i also watch storage wars on tv and wouldnt mind going to some auctions and trying them out but there is chance of negative equity.

just wondering what kind of side money action you have without waking up to an alarm and punching in.

 

[youbet]

If your Ebay activity is enjoyable for you, great. But for me, that sort of activity would be w*rk despite not having to "wake up to an alarm and punch in" (as you put it).

I admit I do manage my own investments, do my own taxes, mostly maintain my own home and try to be a smart shopper. There's no income involved with these activities, but they save a few bux on the spending side.

 

[Lakedog]

Since I live on a lake and enjoy boats, I often look for good deals on used boats, use them for a few weeks/months and then sell for a bit of profit. I bought and sold three boats this year, netting around $10k total. I usually buy and sell on Craigslist. I have found that some sellers just don't bother finding the market value of what they are selling or made an error when looking up the book value. Other than making a bit of cash, this also lets me try out/play with a variety of boats.

 

[REWahoo]

im curious if anyone has a way to make mad money without working.

Psst... Wellesley.

 

[NYEXPAT]

A friend of mine who lives in the Pacific NW but has a girlfriend in the Amazon Jungle, pays all his travel/living costs by coming down here 4-5 times a year and bringing back rare tropical fish that he sells to collectors.

 

[ripper1]

Psst... Wellesley.

I'm assuming you are talking about VWELX. I have been looking at this fund and see that it has a nice yield of around 3%. It looks like it has a stock portion of about 60%. That may be a little high for me but it looks like it performs pretty well even in down periods. How long have you held it? It looks like an all in one fund and that is all you need.

 

[REWahoo]

VWINX/VWIAX. A balanced fund holding ~35% stocks, 65% bonds. Do a search for "Wellesley" in the Google search box at the top of the page and you'll find many, many discussions of this Vanguard income fund.

I've held the fund since retiring 6 years ago and have ~45% of my portfolio in Wellesley.

 

[ripper1]

VWINX/VWIAX. A balanced fund holding ~35% stocks, 65% bonds. Do a search for "Wellesley" in the Google search box at the top of the page and you'll find many, many discussions of this Vanguard income fund.

I've held the fund since retiring 6 years ago and have ~45% of my portfolio in Wellesley.

Thank you, REWahoo

 

[FUEGO]

I apply for credit cards with huge sign up bonuses (cash, gift cards, or Frequent Flyer/Hotel points) and take part in occasional deals I find online. I haven't tracked it that closely this year or last, but I have obtained probably $5000-10000 worth of FF miles or hotel points in the last couple years and probably $8000 in cash or gift cards this year. Probably 4-5 years ago, I was applying for credit cards and doing 0% interest balance transfer offers and parking the cash in the bank for a year or so drawing around 4-5% interest. That netted a few thousand a year for a couple years.

I haven't seen a lot of great new deals in the last few months though.

 

[NYEXPAT]

I am good till 2048 when DW is eligible to retire!

 

[Meadbh]

Not RE yet, but here are some of my ideas:

1. Passive income on managed rental properties.....as soon as the mortgages are paid off.
2. Dividend stock portfolio.
3. Occasional consulting and expert witness testimony. It's w*rk, but clockwatching is generally not required.
4. Doing internet surveys in your area of expertise. I have already done a few of these and they might net $75 a pop.
5. Critical illness, LTC and disability insurance. You have to get sick or need help to get it, but you don't have to w*rk! And if these things are going to happen to you, they will happen anyway, so you might as well protect your retirement savings.

 

[Avalon]

I have income from a small farm. I don't actually do the w*rk because I have a 50/50 sharecrop agreement with a tenant farmer. I do, however, have to market my share as best I can. Deciding when and how is always a challenge.

 

[FIREd]

I own several acres of timberland. I can sell some of the timber as it matures.

 

[Alan]

I have a number of passive income streams planned for the future.

2017 - DW starts collecting her US SS
2020 - I start collecting a UK private pension
2022 - I start collecting my UK SS
2025 - I start collecting my US SS

 

[obgyn65]

Is this legal ?

bringing back rare tropical fish that he sells to collectors.

 

[Alan]

Is this legal ?

Yes, when done according to the rules.

Importing Tropical Fish (Summary of U.S. rules)

Also, no CDC regulations on fish.

Fish

There are no CDC regulations regarding the importation of live fish. The United States Fish and Wildlife Service might have requirements, especially if an endangered or injurious species [PDF - 8 pages] is involved. The National Marine Fisheries Service may also have regulations.

 

[NYEXPAT]

I own several acres of timberland. I can sell some of the timber as it matures.

Interesting, I have also heard of folks who say they plant trees ( I believe Cedar) and in 7 years can make quite a return. The gov't gives you the land for free and I think they sell the carbon credit?

 

[W2R]

I have known several retirees who earned a little extra money by mowing the lawn of a next door neighbor or neighbor across the street. Since the lawns are so close, it's not too much more work than mowing their own lawn. No need to transport or fire up the mower; it's just like having a larger yard to mow. Granted, it's winter right now, but I'd think the same might work for shoveling snow.

I don't personally earn money other than from the usual retirement income sources these days.

 

[FIREd]

Interesting, I have also heard of folks who say they plant trees ( I believe Cedar) and in 7 years can make quite a return. The gov't gives you the land for free and I think they sell the carbon credit?

Not sure about that government program.

I purchased the land when I was in high school and I grow a mixture of hardwood and pine trees on it.

 

[FUEGO]

Not sure about that government program.

I purchased the land when I was in high school and I grow a mixture of hardwood and pine trees on it.

Interesting. I have also heard of a slight variant on this deal. Buy a couple (or couple dozen) acres of undisturbed wilderness out in the middle of nowhere for a steal. Harvest all the timber, then re-sell the land as a "cleared buildable lot" and get back more than what you paid for it, plus the $$ from selling the timber.

Do you actually cut and sell the timber yourself or sell rights to it and allow third parties to cut the timber?

 

[FIREd]

Interesting. I have also heard of a slight variant on this deal. Buy a couple (or couple dozen) acres of undisturbed wilderness out in the middle of nowhere for a steal. Harvest all the timber, then re-sell the land as a "cleared buildable lot" and get back more than what you paid for it, plus the $$ from selling the timber.

Do you actually cut and sell the timber yourself or sell rights to it and allow third parties to cut the timber?

I used to cut and sell it myself. I live too far now, so I just call someone, they do the job, and I get a cut of the profits.

 

[Finance Dave]

im curious if anyone has a way to make mad money without working. ive been selling plants and cuttings on ebay for the past 2 years and have netted around 3K, we make maybee $50 a week on the low end to $250 in the spring/summer time. the plants regrow and we never have to buy new stock, the only expense we have is the ebay fee's and shipping, everything else is juice.

i also watch storage wars on tv and wouldnt mind going to some auctions and trying them out but there is chance of negative equity.

just wondering what kind of side money action you have without waking up to an alarm and punching in.

IMO the things you described ARE work. I've sold things on Ebay, and the amount of time writing the ad, packaging, transferring funds from PayPal, dealing with questions from customers, etc....all work IMO.

If you mean kind of a side job...I do some small woodworking projects occasionally for a few extra bucks...but it's definitely work.

 

[rescueme]

IMO the things you described ARE work.

I agree.

Other than finding spare change in the gutter while I walk my dog, anything that requires me to exchange my time and effort (regardless of how little) to obtain additional income beyond my investment portfolio, along with future income from SS is work.

That's why I (along with DW) saved/invested for retirement for 30+ years ...

When I worked, I exchanged my time for money.
Now since I'm retired, I exchange my money for time ...