Personally I'm more interested in getting reoccurring money from my investments (i.e.: like getting 5-6 figure stock dividends annually, renting out residential or commercial properties, etc.). Not having a 9 to 5 but yet have money accumulate in my bank account would be a great thing to have.
Unfortunately I don't know dikk about finance. I was never taught this stuff in school. When I first open my bank account many years ago I didn't even know what a mutual fund was and didn't understand the concept of interest. My knowledge of finance is still very incomplete. I try reading books and watching various youtube videos. From what I can tell it's not possible to make a livable income from the stock market. Unless you're day trading. That's when you buy and sell a stock within a day making profit off of the small changes in the stock price. Thing is, 90% of people lose money doing this so I'd imagine it's risky. There's also swing trading. When you buy and sell stocks within a week. This is more accessible to people who are busy/have jobs and don't have time to put in ample research. But many people lose money doing this also.
The stock market seems more geared for making money for retirement. Since slowly gaining 5-7% each year is easier than day/swing trading. Whenever you ask for financial advice online almost everyone will tell you to get a retirement account. If you want to make alot of money RIGHT NOW you'll either have to go into real estate or start a business. I haven't looked too much into real estate because everyone and their momma is doing the real estate investment thing. I figured if something like that is overcrowded it would be difficult to profit there.
This is where I stand as well, especially the bolded.
Hell I just got done mapping out a plan with my dad. He owns 40,000 square ft of land in Nigeria that he's going to develop into a 2 floor building, each floor housing two 3 bedroom apartments.
The surrounding area is building schools and police stations so we plan on renting the 4 apartments in our building out to families, or alternatively leasing the building out annually to someone to sublease it (we get paid our fixed amount, and he pockets any additional profit from his tenants).
We live in the States so we figure this is the best route to take for now. Right now we're 2 years away from having the building built, so I'm trying to find more immediate cash making paths in the meantime
