I’ll tell you what – when you put yourself in a situation in which you have no option but to deliver on some mandate, the results are almost invariable and you learn a whole lot while you’re at it. This was the case with us recently when we simply had to learn how to find a sustainable way to generate an income passively in order to keep funding our travels without any big interruptions.
We tried all manner of possible income streams but really put our all into it and fortunately, all but one of them paid off, in a big way! I’ll get back to exactly what those are in bit, but the point I’m really trying to make with this post is that of how it appears to be true that the more money you have the more you have to deal with. Of course, this entirely depends on the type of passive income you are wanting to generate. If you’re just going to go to the best stock brokers in south africa and invest in stocks that will appreciate in value over 10 or so years then there isn’t too much to manage.
I wouldn’t go as far as saying that you have more problems to deal with, per se, but you definitely have a lot more challenges to have to deal with, many of which are of an administrative nature. Safety and security also become issues, and although I wouldn’t go as far as saying that we’re rolling in it, I can sort of understand why super-wealthy people appear to be so paranoid. You do indeed need to watch out for opportunists looking to fleece you of your heard-earned cash, something we learned many times over while trying to find our feet in some of the world’s most popular destinations known for tourism more than anything else.
Look, $10,000 is a decent amount of money with which one can do a lot, but I wouldn’t say that it’s a life-changing amount. However, when you have that much money in cash then travelling with it across borders draws attention from an unlikely source, i.e. the customs officials at ports of entry and exit. $10,000 seems to be somewhat of a standard threshold for how much money you can travel with without having to go through any extra protocols.
For example, many of the declaration forms you fill out when entering another country will ask if you have $10,000 or more in cash and if you do, you basically have to go through the customs secondary clearance where you’ll basically be quizzed about where the money comes from. It’s not all that bad really – all it really is, is a case of having to satisfy the questioning officer that the money doesn’t originate from illegal activity. You could have received it as a gift from your grandma or earned it by trading a lot of kurs amazon stocks. The officer doesn’t exactly care about either of those, they’re more focused on fake money and drug money. You’ll rarely have to actually provide proof of where the money comes from, though having the receipts from your grandma or trading app would be handy. The results are often achieved through mere questioning, and answering those questions truthfully.
So I guess if money does come with more problems, many of us would be willing to take the rain with the rainbow we want, so next time you check out the Euromillions results to see if you’re not perhaps a newly-minted millionaire, don’t feel guilty about it. At worst the problems you’d face are nothing but additional administrative challenges.
Now, as far as how we manage to make a lot more passive income while on the road, it’s simply a selection of online gambling (yes, but very methodical and strategic online gambling), running an e-commerce store and monetising content such as advertising for travel related service providers.