I’m a freelancer and on an average I save $200 to $1k each month. I don’t want my money to just sit in the bank. Instead i want it to help me make more.

As Robert says: Make your money work for you.

How can I do so?

2 things I am not interested in for my money.

#1 I don’t wan’t to start another business using my money as it will require my TIME and ENERGY, along with the money. I want to spend all of my time nd energy just on Freelancing.

#2 I am not interested in Stocks/Crypto etc. As imo, the risk of losing money in these things is more than earning. I think if I will be successful in crypto/stocks if I give it proper time to study. Then again time is something I’m struggling with.

Is there something else I can use my money to generate a good ROI without spending my energies and time?

  • TheLateBloomer44@alien.topB
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    10 months ago

    One of the best ways to invest your money is into someone who’s looking to startup their investment, allow them pitch their investment for you, do a background research on them to make sure they’re not going to run off with your money, then start investing step by step, i can explain more on how you can reduce the risk.

  • OptimisticByChoice@alien.topB
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    10 months ago

    If that $200 to $1000 is extra money, invest it in people who will promote your work.

    Podcast outreach, LinkedIn content, blog content for your site, etc

  • CarbordHands@alien.topB
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    10 months ago

    Didn’t Robert say that fear of losing is why ppl are broke. All in crypto my friend.

    Unless you are older than 30, you can make it all back.

    • yourdudesam@alien.topOPB
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      10 months ago

      It’s a kind of savings account but you can only withdraw your funds after a certain period of time. It’s like lending money to a bank.

    • ShadyGamer0910@alien.topB
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      10 months ago

      How do you have a supplier that gives you things for $100 each month that you can consistently sell for $200🤔 I used to try to buy exclusive shoes all the time for selling but it was impossible to determine the real resale value and demand beforehand let alone get them yourself

  • vinitasher@alien.topB
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    10 months ago

    Split your savings 50:50 between CDs and Index funds. Think of index funds as a long term investment. Set at forget and they will give you 7% return. Use VOO /VTI.

  • TourApprehensive2155@alien.topB
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    10 months ago

    This is more of a question for r/personalfinance, you’re telling an entrepreneurship sub that you don’t want to be an entrepreneur

  • lepowski@alien.topB
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    10 months ago

    Put it into a high yield savings account, they are yielding 4-5% right now, at least until you come up with something else you’d like to use it for.

    • yourdudesam@alien.topOPB
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      10 months ago

      That’s a good idea. I’m into blogging, websites too. Instead of just domains, I would prefer acquiring blogs or maybe SaaS/tools website that are monetized and generation a few hundreds maybe.

      But I went to flippa and the listed websites are shit. Most of them don’t seem to be valuable at all and the content in there doesn’t make any sense.

      Would you recommend any other marketplace or community where I can find better listings?

  • Ammon10@alien.topB
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    10 months ago

    Put your money in a high yield savings account. Some are getting around 4.5% and there are no time commitments like a buying CD