I'm playing around with AI trying to improve our everyday productivity with it, so that more people would eventually have more time to live their lives and spend time with those near and dear to them. Very early, we'll see how it goes.
My automatic income combo in rough outlines is:
1. Invest, make sure you diversify. At least 10% return should be possible with a smart combination of stocks, ETF, etc. This should be considered your rainy day fund that hopefully you never need.
2. Open an online shop. A lot of us engineers are so good at 'the internet' that finding a product or category of products where the e-commerce offering can be improved on. You'll never beat Amazon in price, so you have to beat them in curation. Just sell whatever gets you excited. That usually works best. I have 2 online stores that I have automated and staffed to the point they basically run on auto pilot.
3. Aside from selling someone else's products also make something yourself and sell it. Physical products or anything that requires too much support is probably not the best idea here. For me building and selling in app apps, themes, add-ons to products that come with their own audience and market works really well here.
If you want details, I've added contact info in my about.
My automatic income combo in rough outlines is:
1. Invest, make sure you diversify. At least 10% return should be possible with a smart combination of stocks, ETF, etc. This should be considered your rainy day fund that hopefully you never need.
2. Open an online shop. A lot of us engineers are so good at 'the internet' that finding a product or category of products where the e-commerce offering can be improved on. You'll never beat Amazon in price, so you have to beat them in curation. Just sell whatever gets you excited. That usually works best. I have 2 online stores that I have automated and staffed to the point they basically run on auto pilot.
3. Aside from selling someone else's products also make something yourself and sell it. Physical products or anything that requires too much support is probably not the best idea here. For me building and selling in app apps, themes, add-ons to products that come with their own audience and market works really well here.
If you want details, I've added contact info in my about.