brip blap - Latest Comments in the truth about passive income

Re: the truth about passive income

deb livingston — Mon, 06 Oct 2008 09:45:13 -0000

This is great information. One site I've found to generate income online is at http://www.flixya.com. It's a great site for sharing videos, photos and blogs and making friends! Check it out? :P

Re: the truth about passive income

BillionaireWoman — Tue, 26 Aug 2008 16:13:33 -0000

Very cute list. I believe passive income is possible, but sometimes you need to think outside the box. The truth behind passive income is that you need to put in some upfront work to actually get it going. Think of creating a product and selling it: you need to create the product, then create a system to sell it. After that, money should continue to flow in "passively".

Re: the truth about passive income

tulalue — Tue, 26 Aug 2008 09:14:00 -0000

I have been a landlord for 26 years and rental types of investments always require work. However, with mortgages paid off, rewards are now being paid. It takes time, patience and hard work, nothing in life comes easy!

Re: the truth about passive income

Andy — Mon, 25 Aug 2008 14:36:15 -0000

Passive income is my key to financial freedom and I think it can be achieved. This year for example my goal is $300 p/month. Well on the way to achieving that. Blog income is part of that, but it takes active work to generate that stream of passive income.

Re: the truth about passive income

Funny about Money — Mon, 25 Aug 2008 09:15:04 -0000

LOL! I was afraid of this. These are all too much work for me! :-D

Re: the truth about passive income

shtinkykat — Mon, 25 Aug 2008 09:07:03 -0000

Saw your article in the Carnival. I've also created a link to this article on my post. :-D

Re: the truth about passive income

Lindsay — Mon, 25 Aug 2008 01:54:00 -0000

Rich Dad, Poor Dad is making its author a buttload of passive income. ;)

I make a living from my blogs and websites working about an hour a day. It's not entirely passive income (though I do have sites I haven't touched in a year or more and that still bring in money every month), but it's as close to my dream job as I've gotten.

That's what passive income is for most people. There are ways to build assets, whether through writing content (books, websites, etc.) or buying real estate, but it's hard for anything to be entirely hands off. And who would want it to be? Being retired would be boring in the extreme. ;)

Re: the truth about passive income

Plamen — Sun, 24 Aug 2008 10:53:16 -0000

For me you have passive income when you are not paid by hour for the actual money coming in. It requires some work in the beginning (writing a book) and/or smart decision (buying the right stock or rental house).
There are different levels of passive income of course from doing nothing (for getting your dividends) to spent few hours a month to upkeep your rental property ...

Re: the truth about passive income

theCase — Fri, 22 Aug 2008 08:50:08 -0000

I disagree with the idea of a duplex NOT being passive income.

I bought one about 20 years ago, and yes, the first few years were tough, but I never did NOT make money on it.

Now it is paid off. I pay a management service 6% plus costs to handle the upkeep, receive rent, and screen tenants. My only interaction with it is to open an envelope containing a statement of activity and a check for about $1250 about once a month. This is about as passive as it gets.

Re: the truth about passive income

Writers Coin — Wed, 20 Aug 2008 07:05:07 -0000

Passive income is checking my adsense account on Sunday night after not doing any blogging over the weekend and seeing that I made $1.04 on Saturday and Sunday.

It's pennies, but it's passive!

Re: the truth about passive income

Scott @ The Passive Dad — Tue, 19 Aug 2008 13:43:58 -0000

Passive income can take a small or large investment up front, but should require very little effort going forward. I also think reits or oil rich dividend paying stocks can be a wonderful source of passive income. Prosper can be a good start to passive income with a small investment. Also, Squidoo, and BigCrumbs are others that require nothing but a little marketing to friends and family and you're off to the races. So many ways to earn passive income, it's hard to sit still:)

Re: the truth about passive income

FFB — Mon, 18 Aug 2008 13:13:27 -0000

Passive income still requires work. Usually a lot in the beginning or at least a good amount of money. I guess a lot of us want the passive part of it to mean little or no work.

I consider interest on my high yield savings to be passive.

Re: the truth about passive income

bubelah — Mon, 18 Aug 2008 12:24:16 -0000

Good for you. Please don't apologize. It's not embarassing at all.

Re: the truth about passive income

deepali — Mon, 18 Aug 2008 12:08:51 -0000

is it embarrassing to admit that i actually employ some of the strategies in the top 5? but in my defense, it's not really for income-making... :)

but you didn't include real estate...? there is work upfront, but over the long-term, it could potentially be passive-income-generating...

Re: the truth about passive income

Richard — Mon, 18 Aug 2008 11:10:21 -0000

Kiyosaki changed the way I think too but this type of idea is often taken way too far by people who have no experience (or want to sell something to those who have no experience). He makes a lot of things sound easy - and they probably are if you have years of experience in that area. If not you'll have to make a lot of mistakes first but that's the only way to get experience. Even though you have to do a lot more work than advertised and take risks somewhere, most of the things he mentions aren't too bad if you're interested in them.

The only thing I consider real passive income is investing - not trading - in something entirely controlled by other people (stocks and bonds). But there's different degrees of "earning" money.

For example, after earning money the hard way for a couple of years (and missing out on about a 1-1.5 years of entry-level salary) I'm now starting to make profits. I still have to do ongoing work to get the profit, but I'm being paid for my time and someone else's time. I'm not flipping commercial properties and buying luxury cars for "business" purposes yet but I know this is a step closer. Now that I've started down this path I can gradually offload more work while increasing my earnings and only focus on the parts that really need my attention.

A lot of people think they're above any income that's tied to ongoing work but if your "hourly rate" is doubling or better every year you really can live with it. And you can invest the profits for real passive income. Kiyosaki definitely skips over the hard but essential parts where most people give up but if you start thinking this way and you really want a different type of income you can get there, step by step.

Re: the truth about passive income

Dividend Growth Investor — Mon, 18 Aug 2008 10:53:43 -0000

Nicely put Brip Blap!
I agree with Bubelah that Rental properties could be a passive income if you buy a REIT or hire a property manager to do the work.

Re: the truth about passive income

bubelah — Mon, 18 Aug 2008 09:39:43 -0000

I don't think that passive income through rental properties, ivestment incomes and original content are nearly impossible. Everything IS possible! That's the first thought that should be on everybody's mind. Of course, you have to do some initial work to set it up to work and generate passive income. If you do it smartly, you don't have to put anymore sweat into it and enjoy it.