Just want to discuss passive income, as this is a topic I see people asking about regularly.
There are many false claims regarding passive income, particularly from influencers.
In my view, something can only be called passive income if it doesn’t require continuous effort.
Methods like affiliate marketing, where you work hard but earn while you sleep, are not passive in my opinion. It’s a great way to earn and build a full-time income, but it involves effort.
To make significant money through truly passive income, one must be realistic. Typically, this means having substantial amounts to invest in real estate, stocks, blue chip cryptocurrencies, or similar investments. Alternatively, investing in upcoming meme coins might provide high returns, but there’s an equally high risk of loss.
There’s no guaranteed way to earn a living online or offline without investment or a willingness to take big risks.
Many ask for passive ways to make hundreds of dollars per day without risk or effort right away. This isn’t realistic, and pursuing such paths often leads to scams.
There are free ways to earn passively, such as sharing unused internet, but these won’t generate substantial income.
It’s crucial to understand these factors concerning passive income to maintain realistic expectations and avoid scams.
There’s always an investment at least initially, whether in time or money. I have an Amazon Merch account that generates income from designs I uploaded years ago. The initial investment was time spent setting up the account, designing, and uploading. Amazon handles printing, shipping, and returns, so now I just get paid monthly.
@Val
I met someone making $1.2 million annually in passive income from an app they built. Keep an open mind and continuously enhance your skills. This way, you’ll spot and pursue more opportunities.
I invest hundreds monthly in tools like Ahrefs for SEO data. I also subscribe to trends.co ($300/year) and theadvault.co.uk (free) to stay ahead of market changes.
There is no such thing as ‘passive income.’ There is residual income, but ‘passive’ implies non-action. All side hustles require some effort and action.
Build systems and digital assets, then leverage them for a niche. Once you have money, outsource the less enjoyable tasks to someone more qualified.
There’s really no true passive income.
The most passive source I can think of might be high-yield savings accounts or automatic investments in some ETFs.
Devon said:
There’s really no true passive income.
The most passive source I can think of might be high-yield savings accounts or automatic investments in some ETFs.
Yes, and you need a significant amount of money to see good returns from that.
I’m skeptical at first; I did the digital marketing angle and turned it into my own online business. It’s not 100% passive, but with automation, I only engage to grow my audience while the website handles the rest.
@River
My main point is that it takes time and effort to successfully set up anything. I’m sure you invested time to establish your systems, and you still engage with the audience. Additionally, it depends on income goals—some people are satisfied at a certain level, while others want to diversify for security.
Investing in Dogecoin might yield some gains, but it won’t lead to life-changing wealth unless you invest significantly. The market cap is already over $50B, making it challenging to achieve 2-3x returns now. For meaningful profits without significant investments, you’d need to consider smaller and riskier assets.
