3 Truths About Passive Income No One Likes

[Shaf]

We all love the passive income hoax, after all, who doesn't want to spend all day long relaxing on a lovely tropical island with a chilled drink, scrolling through social media while money flows into your account without you lifting a finger?

Unfortunately, passive income is not so simple and acknowledging that can help you get close to building income that is more passive than most.

One of these truths is that you will spend time and effort after setting up that income stream to keep it running. For example, in blogging. Bloggers need to spend time updating their articles with new information, staying in the radar of search engines as they change their algorithms, marketing of whatever they sell and their affiliate products and much more. Publishing a book on Kindle can be even more work than this.

Another myth is that you can start free. Know that you will be spending time (which is money) or money to get it to work. Again with blogging. You need to pay for the hosting and domain name, pay for articles or wrote them yourself after intensive research.

Does this mean that passive income is not possible? No! It's just not as juicy as people make it out to be.

 

[King bell]

1. You have to work hard to get started

No matter what anyone tells you, there is no such thing as easy money. To generate passive income, you have to put in the hard work upfront to get things started. This might mean investing money into a business venture or working long hours to build up a passive income stream.

2. It takes time to see results

Don't expect to start generating passive income and immediately see results. It takes time to build up a passive income stream, so be patient and don't give up. It may take months or even years before you start seeing any real money coming in.

3. You have to be prepared for lean times

Even if you're generating passive income, there will be lean times when you don't make much money. You have to be prepared for these times and be willing to weather the financial storms.

If you're looking for easy money, passive income is not for you. It takes hard work and dedication to generate passive income, but it can be a great way to financial freedom. Just be prepared for the ups and downs and don't give up when things get tough.

 

[Mika]

Generating passive income is not as easy as some people think and it is also not very difficult as some people believe. There are different ways to build passive income and whether you can build passive income through these methods or not depends on a lot of things including your skills and knowledge. One of the best ways to build passive income is by using Amazon. You can either do affiliate marketing for amazon products, publish ebooks and paperbacks and earn royalties, or start selling print-on-demand products. In order to sell affiliate products you either need a website with huge traffic or social pages with huge followers. In order to earn passive income through ebooks you need to be an exceptionally talented writer and in order to earn through print on demand you need graphic designing skills and digital marketing. If you do not have skills, you cannot build passive income.