26 Jan Is there such a thing call passive income?
Is there such a thing call passive income? My point of view passive income it’s not truly passive. There is still effort and energy that we need to put in. It might be lesser energy and effort but it is not truly passive and we not perceive it wrongly.
Let’s see it from a different perspective. We want to be passive healthy? Is this possible? We want to be healthy but yet do not want to put in effort on it. In our daily lives we don’t eat healthily nor do we want to exercise. We want to be healthy passively. Answer is NO. It will not be possible.
Same goes to our financial aspect. We want to have income but yet we want it to be automated. For instance we want to have property for rental as our passive income. We need to put in effort to service our clients, ensuring the place is up to par and not expecting the property will run itself. How about e-book. Can we just write a e-book and expect to generate passive income. Passive income is not equals permanent income. We still need to put in effort and energy so that it will flourish.
Like I mentioned, indeed it will be lesser effort than what a normal employee encounters. Another way we can further enhance how we generate passive income is via leverage using OPT (other people time) while we look for way to further expand instead of managing it.
Finally, why we seldom here the multi rich doesn’t emphasize a lot about passive income. For instance people like Jeff Bezos or Mark Zuckerberg or any of those people, they are working harder than us. I’m sure they have the option not work tomorrow as they are already financial free, I guess it boils down to what we like to do and what we are passionate about. When you do something you enjoy, passive income is no longer applicable as your active income is something you are passionate about and you do not feel drain up but your work. Most of us always thinking of passive income is because we don’t really like what we are doing and we are working for the sake of income.