When I tried to Google “passive income” the ads will show something like this: “Make $4000/Week. No Sales, No Ads”, “You will earn $5000/month or more”, “Make $1000 pr Day or More”.
Besides having to learn basic English, these ads promise you all this passive income, but they all want you to spend money first. So before you even know what passive income is, you will have to actively spend some of your previous income.
To give you an idea, what I am talking about in this blog, you should read this to really understand what passive income really is. And more importantly what passive income is not.
Passive Income will make you rich in just one month!
First of all I can tell you what passive income is not: It is not a way to make you rich fast. Normally. Of course some have managed to start earning passive income and it skyrocketed to earn them several thousand dollars per week right from the beginning.
But in most cases, theses people made money with scams. Or these people have had other experience with passive income before that.
Earning Passive Income is a piece of cake!
In most cases, before you will get your passive income, you will have to work hard to set up your passive income. You can get the information on how to set up your passive income for free — for example in this blog — but you have to be willing and committed enough to keep working, even if you won’t see a lot of results.
In my fourth month, I made my first €6 – for the entire month. And people were laughing about those peanuts. Now I make more than 1000€ each month in passive income. But I had to work hard to get there.
Once your passive income streams are flowing, you will get money from doing virtually nothing. Hence the term “passive” income.
Earning Passive Income is like taking candy from a baby!
Some people will actually make passive income by taking candy from a baby. No, they will not steal candy and sell it. But they will exploit others to make some money. This is very shortsighted and it will always come back to haunt to.
There is one rule I have believed in my entire life: Dishonest money will be lost faster than you can make it!
Try to make dishonest money online and you will get caught eventually. If you won’t get caught, then someday this passive income stream will dry out because people will get smarter. If people won’t get smarter, then God will do his part. You might not realize it’s God who takes your money, but dishonest money is unlucky money.
Passive Income is for everyone!
To make it quick: It’s not. First of all, there still have to be people who actually produce the goods we consume. We can’t live on informational products and the products we sell or promote will actually have to be produced. So the term “anyone” is much more fitting than “everyone”.
So can you earn passive income? Sure. Can anyone earn passive income? To quote Obama: Yes, we can. But can everyone have enough passive income to make a living? No, they can’t. Not everyone has enough willpower and entrepreneurship in them to actually make it. You will need a pretty good understanding of some business basics and more importantly you should be able to diagnose your failures.
It is ok to fail. But it is important to learn something from each failure. If you won’t learn from your mistakes, you are destined to make the same mistakes over an over again.
Do you have any other points or myths about passive income? Please let me know and leave a comment.