Shaf
Verified member
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.
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.