Just wondering, as i am bored an curious because I’m in a position in life where i can get a job/cant travel to work. I remeber before I switched to lemmy and back when I used reddit, most people would promote their affiliate stuff or something, which really bothered me as it was quite common.
What legitimate ways are there to make money on the side from online without having a job? If you have questions, please leave a comment.
No.
If you count having a job as even working for yourself and doing the work. Then if you want the money then you are doing a job. Only thing that changes is who you work for
You have methods that amount to making yourself an online job, or an offline job with a lot of online communication (independent software contractor, commission artist, author, sex worker, online course teacher, Etsy knit hat manufacturer, etc.).
You also have various flavors of capitalism, which may not count, as you did say “legitimate”. But if you already have ten million dollars, you can spend lots of time researching stocks and evaluating pitches for businesses and maybe get a better return than you would otherwise, all online.
And then you have merchanting, wholesaling, or furniture-flipping type approaches: buy stuff online, refurbish it or repackage it in smaller quantities, translate all its documentation correctly, vouch for its quality and fitness for purpose, take nice photos of it, market it, sell it, deliver it, and support it.
I advise against Amazon Machine Turk.
It’s basically a digital sweatshop. Doing all of these menial, logically mundane and borderline crazy tasks. Just to earn a literal nickel.
I don’t know how much has changed since I was doing it, but the main trick was to get the tasks associated with academic studies that were typically higher paid, by using a sniping bot to grab it before others could. So that way you get paid around minimum wage instead of a small fraction of that (if you also cheat by doing multiple tasks simultaneously and hiding it). Though tbh the situation is probably worse now since there have been all those funding cuts to academia.
I mean I think anything you do that makes enough money to be worth it is just a job at that point right? Like you could start streaming on twitch or something, but once you start making money from it, it becomes a job.
How unethical are you ok with being? Dropshipping is an easy way to make money with low effort but it’s a pretty shitty thing to do
I know people who have had good success with dropshipping but only within their hobby/interests niche. They freely admit that “This is the cheap chinese one but it gets the job done.” And word gets around that they are trustworthy and reliable.
I don’t have any problems with cheap chinese stuff, I have problems with the people who make storefronts that, when you order off of them, they go buy the thing from a cheap chinese site and put in your shipping address. They are relying on gamed SEO to direct people to them and make money by literally doing nothing.
Yeah thats what I meant about “within their niche” They try and buy the shit themselves for their hobby and have a storefront and only rep for products they reasonably stand behind.
Doing the “to the masses” type products dropshipping is usually a losing game because theres always someone more unscrupulous who will do more underhanded shit to be 10c per item cheaper.
What exactly is that a shitty thing to do? It’s simply running a business. It’s no different than going down to Walmart and purchasing anything.
Unless you have a sign saying “You’re paying me to buy this for you from alibaba”, I consider it very dishonest. Perfectly legal, but borderline scammy ethically imo.
What do you think just about every person does on apps like Amazon walmart.com etc. Almost all of them are drop shippers or people other than direct manufacturers. Almost every single store you purchase from almost every single website you go to is a form of a drop shipper. If you don’t know this and you don’t understand how retail works there’s always a manufacturer then there is a warehousing then there is somebody that purchases it and then there is the end store that you purchase from whether it’s retail brick and mortar or it’s online. If you think you’re buying directly from the manufacturer and you’re buying from other places other than the manufacturer’s website you’re almost guaranteed to be purchasing from some sort of type of drop shipper.
This is the same thing your local department store does. It sells shit it buys in bulk, much of it manufactured in China.
Dropshipping gets scammy when you start implying you produce the stuff you’re selling IMO.
Your local department store has to have a physical location and stock, they’re physical goods in a physical location, adding value to you by way of letting not have to travel to a bunch of different people producing the things you need. Dropshippers literally just order something to your address for a marked up price. They are adding cost with literally no value to you.
Well a lot of these bulk sellers don’t sell B2C. I could start my own company to buy shit, or use a middle man.
Sellers in the EU also have to give their shit a 2 year warranty, including for dropshipped items. No such requirements for Aliexpress.
I guess I should have been more specific, I’m talking the places that literally just dropship from alibaba, aliexpress, etc. an actual middleman for manufacturer is fine to me. They’re actually doing something you can’t do yourself, you know, they’re actually providing a service. The ones I’m referring to are just setting up online “stores” hoping to grab people from SEO to make a profit doing actually nothing
Even with Alibaba and Aliexpress, there is some marginal value-add from a middle man. Like I said, in the EU, sellers are liable for 2 years of warranty for manufacturing defects.
But any dropshipper worth their salt has other sources for their shit too. Not necessarily direct from manufacturer, but companies that provide better prices than publicly available for B2C. I hear some of them are more or less invite-only. In any case, the Alis aren’t considered great dropshipping vendors at all, since goods can take very long to reach customers.
And then as a dropshipping business expands, you can have local stock for some items. Generally, a dropshipping business should fill a specific niche and not have a billion items on sale, but rather be curated. So if you’ve got like 4 or 5 alternatives in some specific product category and one or two clearly sell better than the rest, on a consistent basis, you can order those in bulk and ship to your customers faster. The downside here is that you have more work to do, but you’ll provide more value to your customers. And if your dropshipping business is honest, you can lead times visible on the website… And customers will love seeing “tomorrow” instead of “14-21 days”. Brings in more customers!
I don’t want to make accounts on lots of sites and search all of them every time I buy something, so I think of it like a convenience fee if the way an ebay package is wrapped implies the seller arbitraged it from elsewhere.
Farm rev caves on OSRS
Lol
Lmao
Maybe human trafficking?
When I was a teenager, my main source of income was online Usability testing. It was pretty inconsistent, some weeks were 10$, some were 60$, but it took fairly little effort and time. All I had to do was click through a website and narrate how my experience with it was.
It probably pays way less nowadays, but I remember that usertesting.com was my main website for this back in the day because they paid 10$ per test (even if it’s just 10min) and had plenty of opportunities. If you want to try it, make sure to state your household income/education level/job is a bit more than it actually is. You do get more tests that way
The only way to make money without work is to be part of the owner class that lets others do all the work.
For the most part, the owner class does have a job. They have to buy and sell the things they own. They have to maintain relationships so they can get a better deal. And they gave to use thier influence to increase the value of what they own. It’s all fake work of course. It doesn’t increase the productive output overall. But it is a job. And pretty much full time at that.
The real answer is to be the kid of one of these people. Then you can make your money the old fashion way, inherit it.
Technically, I’m sorry, but that’s incorrect. Even if you own a company, you are still doing work. You may not be doing the physical manual labor, but you’re still doing work.
Not if you are rich enough you don’t. Most people still do because everybody needs something worthwhile. But you don’t strictly need to work when you have reached some arbitrary level of wealth and ownership.
If you parked a million dollars in QYLD, you’d get about $120k per year (pretax) in exchange for your contribution to society of “having a spare million dollars”
And how did you get that million?
Usually, rich parents.
Just a simple loan to start off. Just a million dollar loan
You think they got it by “working” ??😂😂😂
Inheritance. Your move.
I will of course do my own reading on the subject, but how consistent is this? Does it have to be a million, or can it be a couple hundred? I am selling everything and seeking asylum overseas and may not have much ability to work for a while. Please tell me more.
It’s an ETF, you can buy as much or as little as you want. My understanding is that they take their money and sell options (covered calls) with at-the-money strike prices on NASDAQ. Each month, they pay out dividends, something like 1% per month (bit over 12% on a yearly basis). So if you park 100$, you get like a free dollar per month, or 12 per year.
It’s not hugely popular because you pay short term gains taxes on the dividends, a lot of tech does better than 12%, the shares can decrease in value if NASDAQ goes down, and if you wanted to (and had the startup cash), you could do the exact same thing without paying the ETF fees - buy 100 shares of QQQ for 62k, then sell a covered call for a month out, rinse repeat
“be part of the owner class” they said - not “be a business owner”
It’s completely possible to own a piece of this and a piece of that and just sit and watch the checks come in. You just need to enter the picture with enough liquid cash. You’re not sorry they’re technically incorrect - you just don’t know anyone actually in this class.
Little bits of money, sure. Surveys, selling stuff on eBay or Etsy or whatever. I never found it worthwhile, can make so much more money working at a job. Most I ever made was $200, twice. Once for designing logic for a quiz to determine hair porosity, once for an interview when some medical product I got failed.
That is over the entire history of the Internet. Otherwise it’s just been a dollar or two once in a while.
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Vote blue no matter who!
How does that answer OP’s question?
The old fashion way. Inherit it. Our the really really old fashion way. Fraud.
ONLY FANS. WFM is quited limited as far as jobs go, but its out there. stocks but you have to be good at doing that and not gamble your money away.
The boring answer is something like a bond or CD ladder, or treasury bill focused ETF that’ll give you 3% a year before taxes.
2 million dollars can safely net you 50,000 a year without working.
And since it’s mostly federal bonds, you could be tax exempt up to a certain amount.
Of course this is the US POV.
And there are riskier investments that can hit 8ish% with only $600,000, but you’ll be at the whim of high risk high reward.
If you’re wanting to hit the tax free limit of $15,750 a year (total income) then 3% APY is $525k.
Or go super risky run options.
never settle for 5-10 point gain in a bull market, if your not pulling in atleast 200% yoy when republicans are in power you likely have a major gap in knowledge on how the markets actually function
