What can I do now so I can earn enough passive income in the future?

Question by monster: What can I do now so I can earn enough passive income in the future?
I’m starting college this year, and I’m starting to realize more and more that I will have to be financially independent really soon here. One of the things I’ve been thinking about is how I’m going to earn passive income–what can I do now so that I’ll be set up to earn passive income? Not just a trickle of interest on money in the bank, but something large enough that I’m not entirely dependent on employment for my living, and when I’m employed I will not be working my ass off, but have time to spend with my family or do activities I enjoy. I’m starting from scratch here, so no money to start earning interest on. I’m working some now, but not heavily–I’ll be earning around $ 2500 this summer. What is a wise way to invest it so I will be where I want to be in the future?

Best answer:

Answer by Jmeng
I would advise you to build up your investments slowly over a period of 5 to 10 years. and continue to use the dividends from your investment to buy into new shares.
For a start I think you should do some research and read up on the counters that are constant in their payment of dividends over a period of 5 yrs or more. Counters tthat earn a constant and steady income such as Vicom, SBS, Thai Brev, StarHub, Singtel and Semb Marine and some steady trusted counters with good management. Do not be mislead by penny stocks that are cheap and controlled by sole family they are not reliable, learn about their style of management.
IT IS IMPORTANT YOU SHOULD NOT BE GREEDY AND GAMBLE.
Later if you have more capitals you could purchase counters – Fraser and NEAVE, bank shares such as OCBC and UOB. & SOME GOOD property shares and insurance (Great Eastern) and oil company shares (Shell)
START SMALL AND BUILD UP SLOWLY AND BY THE TIME YOU ARE RETIRED they will do the passive earnings for you.

What do you think? Answer below!