Investing in the Future
I have been interested and caught up in the idea of passive income along side with a job ever since I heard about that concept. Obviously, it is a very apealing thing so think about, when something makes you money without you investing any more time in it.
So I was looking into ways to invest passively. I did some research on the Net, YouTube, all those Media that can teach you stuff like that. I even reed Rich Dad Poor Dad even tho I never reed a Book before, and to be honest, I still did not fully complet it. Even tho I found some ways I could start generating passive income, I just didnt get it up an running. May it be because I couldnt put up the effort to create something, or that I didnt have the balls to grab a sum of my hard saved money and invest with it.
A few days ago I looked into my bank account, which I dont do very often. Yes, I know thats dangerous. Anyways, I look at it and thought: „What am I doing with my money?“ If Rich Dad Poor Dad thaught me one thing, its that money does not want to lay around. It leaves the poeple who just stuff it into their bank account and let it rott. I have experienced this phenomenon often enough on my own balance.
Every Dollar, or Euro in my case, wants to work for you and should be treated like an Employee that generated more of themself for you every day, Kiyosaki says.
So what I did is I looked into that topic again and got stuck with Peer to Peer Lending, specifically Mintos. P2P Lending seems to be a really good way to invest passively, if you already got some money to invest. If you dont know what P2P Lending is, or what makes Mintos diffrent from other systems, look it up on Google (or your prefered search engine). There is so much resource out there which you can learn from, its unbelieveable. I might even make a Blogpost digging deeper into this topic one day.
I already had an Account with Mintos, because I did look into them before, but even if I hadnt, account creation is very easy, no verifying. Verifying your identity is only required when you want to payout. Which is the biggest thing I was and still am worried about: Payout. I mean I know that you should reinvest your earnings, and I am planning to do that, but what if all those numbers in your account statement are just numbers on a screen? What if they never plan to play you out? What money isnt real, as long as its not back in your bank account (and even then it isnt)
Luckily for me I had a friend who tried Mintos, and I did research on the Net and I got the feeling that Mintos seems to be a serious platform. One thing that I always ask myself with those platforms is how to they make money? If they make money from their daily business, why should they steal from their customers, the people who give their money and take the risk, just for them to take a small percentage of the returns? Of course there have always been people who gat away with millions because they just disapear when their businesses bank account is on an all time high, you only just need to look at all those crytocurrency exchanges. But yes, crytos are easier to make disapear than fiat currency.
Anyways, I have come the conclusion to trust Mintos. They seem like legitimate business to me and I decided to finally make use of my money and start investing in P2P Credits on Mintos.
No, this wont be my only way to make passive income. I will look for new ways. Thought about ETFs and other stocks, but thats a field where I need to out way more research in. Maybe Ill try content creation like YouTube or other things like Blogs. Thing is, I have never really been a good creator. Or maybe I start a business, would be more of a long term investment.
One thing I will inevitably develop and invest in is myself.