Is it possible/common to make passive income while in dental school?

[rectangle]

I always see posts about the dental school debt, choose the cheapest school, live like a student, etc and that having a part time job during school is usually not feasible. But what about passive income? For example, there are people who blog/make youtube videos and get $ from ads or sell items on Redbubble. I see a lot of dental "instagram influencers" that are also brand ambassadors for different products (not just figs), and I image people could do that with other niche topics, such as cooking/photography/interior design, etc. I also see some students charging $ to edit personal statements or tutor. Granted, the instagram and essay editor/tutoring route doesn't seem very passive (and I, personally, would edit a pre-dent's essay for free. Getting in and getting out of dental school is not cheap!)

Do any of your classmates pursue passive income or have jobs like this?

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[El-Rami]

I have a friend who invested in stocks while in school. She wasn't a dental student, though. I was shocked when she told me, but she said it was a decent passive income for her because she knew what she was doing.

Other anecdotes that I have (not from dental students) were people making soap and bath bombs as a side-gig or someone using their father's lathe in order to create things to sell. Basically, anyone who had a hobby that could generate a side-income. Another guy I knew (med student) was a registered nurse prior to medical school, so he worked some weekends at a local hospital. He also did really well in school.

The social media/vlog thing that you mentioned sounds interesting, but you will have to sink some money into equipment and be savvy with editing software to get that thing started, and your success will be based on clicks you get. You wouldn't have to get hardcore and create your own studio or anything like some professional Youtubers do, but the video and audio equipment will be expensive, and doing professional quality video editing will be time-consuming.

 

[Pablo Sanchez]

Yes, people make money while in school. If there's a will, there's a way.

 

[rectangle]

Yes, people make money while in school. If there's a will, there's a way.

Did they make their money passively?

 

[El-Rami]

Passive income typically involves large upfront cost (eg., investment in stocks, owning property that you rent out, etc).

 

[caffeine jitters]

Military scholarship + signing bonus —> stick said signing bonus in diversified markets —> benefit

 

[Blackca3]

I earn passive income from 3 rental properties that I bought prior to dental school. I had a previous career that gave me the ability to do that. A few people in my class are in similar situations. One person on HPSP bought a house when they moved to school and rent the other rooms out.

 

[Pablo Sanchez]

Did they make their money passively?

I make money both actively and passively. I've lucked into some of the passive income streams. Otherwise, I take over 70% of my active income and reinvest it into passive streams.

I have friends who do this to different degrees. Some have HPSP and invest. Some work actively and invest with the money they earn.

And then there are those who are invested in the "Rich Daddy Fund" who get a monthly allowance from their parents, however I don't think that most of these people invest that money wisely.

 

[charlestweed]

Find a roommate or roommates to share the apartment or a house with you. That's how I could afford to live in a very expensive area (in Westwood, Los Angeles....right next to my dental school) when I was a student. That's how my parents, who had minimum wage jobs, could afford to buy a house in Orange county, one of the expensive counties in CA to live in. My parents converted a garage (without permit of course) into an additional room for my younger brother and I to sleep in it. And they rented the other 3 rooms out to 3 different strangers. When my siblings and I left for professional schools, my parents rented out the extra bedroom to one more person and they lived in the garage. My parents came to the US with nothing and now they are retiring comfortably in their own home.

Here are some good articles:

How I Earned an Extra $40,800 in Two Years Without Lifting a Finger

Why roommates is a great passive income

In this be free and wealthy blog post you will learn: Roommate is a great passive investment income How roommates are amazing way to build long-lasting relationships. Of course, getting a roommate is not for everyone. In my situation, I was fortunate enough to buy a big house 2500+sq

www.befreeandwealthy.com

 

[SoftGel]

If you are former military, you get a passive income of sorts with the GI Bill living stipend (in addition to no cost tuition). This can be on top of reserve pay if you are still actively drilling. This comes out to about $3,800 per month for me while in dental school. Mostly passive, though there are some reservist commitments.

 

[Typical Average Student]

I rented out my condo for Airbnb for 2 years of dental school and stayed with someone else or commuted when a guest would stay there. Only difficult thing was doing all the laundry all the time but it made me ~$4500 in passive income the first year and ~$6500 the second.

I dabbled with day trading throughout dental school as well, took way too much time out of my day honestly... that is until I built up enough funds to invest in indexes.

Those were my only PASSIVE models of income, as for non-passive, I tutored SAT/ACT my first year and stopped after all my clients grew up lol. I know a few ppl in my class were hygienists so they worked on the weekends, 1 worked at a department store during the holiday season, and 1 worked on small projects from his previous employer.

 

[Alpha Centauri]

Not necessarily passive but big sneakerhead. I am able to pay my rent every month from earnings and can likely put some towards student loans in addition now

 

[AONLINE]

Not necessarily passive but big sneakerhead. I am able to pay my rent every month from earnings and can likely put some towards student loans in addition now

Do you sell on sites like StockX/Goat??

 

[Ladm8]

'Educated' Sports betting if it's legal in your state

 

[Molar Whisperer]

I had a classmate that would buy up crappy houses and flip it to pay for each semester/yr in DS. I didn't hear him rent them though. A very realistic idea (easier if you're single with no kids) is to buy a cheap 4 BR, get it presentable, live in it and rent the 3 other BRs. I saw this done near a Community College. The owner was 25 y/o and is living for free plus remaining income. Passive income is taxed very favorably so it deserves strong considerations.

 

[Alpha Centauri]

Do you sell on sites like StockX/Goat??

Yes.

Those sites ruined my favorite hobby though

 

[Molar Whisperer]

'Educated' Sports betting if it's legal in your state

Nice. Does "educated" require a lot of research on player injuries, locker room turmoil, coaching hot seats, and (whisper) inside information?

 

[Saddleshoes]

My roommate came from a farming family. He had farm ground in his name that his brother worked for him on a share cropper arrangement. The problem came when it was time to sell the corn/beans. He had to rely on his brother to do it. Often my roommate would want to sell on one day but his brother would not get around to doing it until days later when the market had fallen.

In spite of his unreliable brother, my roommate managed to cover the tuition every year on corn/bean money.

 

[averageasian]

Yes. I work for a DAT company on the weekends and tutor kids for the DAT/write practice questions.

I own a condo in Boston and do not pay rent. When i graduate and get deployed in the navy, I will rent out the condo. I am able to save a lot of money and invest it due to my side job and the military.

I would definitely not do HPSP for the money but being the military has given me massive financial independence from my parents and I never have to worry about money, i just focus on school and my side hustle. Its nice knowing I dont have loans but also save/make a lot of money as a full time student. Im very fortunate to be in my situation.

 

[deleted972255]

What do you guys think of this business idea? Place a few hundred tablets in dental practices across the US. Then try to get a large company to pay you a monthly amount to play ads on those tablets. Like a toothpaste company, etc.

 

[Saddleshoes]

What do you guys think of this business idea? Place a few hundred tablets in dental practices across the US. Then try to get a large company to pay you a monthly amount to play ads on those tablets. Like a toothpaste company, etc.

How does the cost of lost/stolen/damaged tablets factor into your business model?

 

[deleted972255]

How does the cost of lost/stolen/damaged tablets factor into your business model?

Good question. Not sure, I don't think its a good idea anymore actually lol-seems like there would be a high upfront cost of needing enough tablets to get the attention of advertisers.

 

[teefturnsmeon]

Really easy. Just become a street pharmacist. Really lucurative

 

[ESPN907]

Classmate has a legal business of a weed farm. He doesn’t have to be sitting there to watch it grow. Has to monitor and work a little harder during harvest times but otherwise it’s pretty passive and a pretty good income source.

 

[cluelessdr]

Not necessarily passive but big sneakerhead. I am able to pay my rent every month from earnings and can likely put some towards student loans in addition now

where do you buy your shoes? i used to do this in high school, but ive been out of the game for awhile lol

 

[deleted480308]

Classmate has a legal business of a weed farm. He doesn’t have to be sitting there to watch it grow. Has to monitor and work a little harder during harvest times but otherwise it’s pretty passive and a pretty good income source.

Aren’t armed guards expensive?

 

[Laradd]

Yes! A lot of my friends going to dentist school that during their free time they are working as tutor or online jobs.

 

[Blackca3]

Here's a lot of passive income opportunity for example blogging or making video or any analytics. I'm student also and looking for a new ways to earn money because I want to live better and change my life. I have already try a lot of passive and active income like instagram editor e.t.c But the best and the most profitable was betting I found Online Betting Sites in India >> August 2020 Promo Codes this company and now earning enough to pay for my debt, rent an apartment and make few meeting with girls. You have to try it also!

Seems like spam. Probably shouldn’t click that link.