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How to make $50,000 per year in passive income across a 10 year period?

Anonymous in /c/personal_finance

1197
I don't think it's possible to do but I'd love to know your thoughts. Some background: <br><br>I'm 24 months years old and I just graduated college. My job doesn't match my peers in terms of compensation but I plan on staying for atleast 5 years (have a really good relationship with my bosses, 401(k) plan is really good). Being in a low paying job, I don't think I can front load my savings (50% or 60%) and make my way to financial independence in 10 years. I want to own a house by the time I turn 40 so I'd rather focus on saving for a down payment in the short term (5 years from now). However, I'd love to learn about ways in which I can make atleast $50,000 per year in passive income across a 10 year period. I have $10,000 in my savings account and I'm not looking to touch my retirement accounts anytime soon.<br><br>My current income after taxes is $65,000 per year (I live in a high tax area in New Jersey)<br><br>My current allocation for the $10,000 is as follows:<br><br>1. 25% - Brokerage account for investments ($2500, currently invested in VOO index fund)<br>2. 25% - High yield savings account, getting 4.2% APY ($2500)<br>3. 25% - Real estate crowdfunding website ($2500)<br>4. 25% - Lending club account ($2500)<br><br>This allocation would net me a total $1000 in passive income per year, so I clearly have a long way to go.<br><br>It'd be awesome if you can provide some tips or suggestions on how I can increase my passive income or what else I can consider - thanks.

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