Passive income

[SearchingforPeace]

Youtube might be a way to make passive income. It'd be great if there were more small cute animal videos.

That wouldn't be passive income in the classic sense. After all, it would be generated by active effort....making videos.

 

[Grand Admiral Crunch]

That wouldn't be passive income in the classic sense. After all, it would be generated by active effort....making videos.

I know, but someone said that a novel or hit song was a passive income, so I thought that I'd include this too....I hope you bothered that other person about their idea as well.

I wish for more cute animal videos. Squirrels would be fine. I'd like to see squirrels completing obstacle courses.

 

[SearchingforPeace]

I know, but someone said that a novel or hit song was a passive income, so I thought that I'd include this too....I hope you bothered that other person about their idea as well.

I wish for more cute animal videos. Squirrels would be fine. I'd like to see squirrels completing obstacle courses.

Novels and hit songs are not passive income, but the reward for work.

Passive income would be the child of an author or songwriter living off their parent's work.

 

[SpankyMcFly]

That wouldn't be passive income in the classic sense. After all, it would be generated by active effort....making videos.

Aye indeed it is. I know several YouTube 'content' creators. It can be quite a bit of work.

@OP Passive income is a deceptive way of describing it. Sketchy at best.

 

[PeaceBaby]

Passive income as I define it is doing the bulk of the work one time and reaping benefits from that over time.

Three weeks to make a website that generates revenue for years after with only minimal amounts of attention - passive income.

I write an ebook and it sells regularly through ads or through natural search - passive income.

Create a video on youtube and it generates revenue after the content creation process - passive income.

Earn residuals and royalties from your creative work - passive income.

Earn money from tenants etc - semi-passive. You have to touch it more than some passive revenue streams, but not as much as a full-time job unless you have a lot of properties to manage.

Go to a job daily - active income. Making a website for someone else - active income. As soon as I stop working, I stop being paid. That is the difference.

With passive income, you keep getting paid whether or not you do any meaningful work after the initial setup. There is often a lot of work to get going, but eventually you reach a point where the passive income stream kicks in and there's little you need to do from that point forward. Income will continue to be generated for as long as it lasts - in some cases months, but often years. If I spend only an hour or two a week to make sure my income streams keep performing, that's hardly being active in the sense of a 9 - 5 job.

Passive income does not mean you don't do anything at all and get paid. Passive income isn't like winning a lottery, but it can be the next best thing -- the gift that keeps on giving.

 

[1487610420]

Aye indeed it is. I know several YouTube 'content' creators. It can be quite a bit of work.

@OP Passive income is a deceptive way of describing it. Sketchy at best.

Math, time spent vs roi, the longer roi lasts the more passive it is, is 9-5 is instant cutoff, content creation is longer. Add more of the latter = gg.

 

[SpankyMcFly]

Math, time spent vs roi, the longer roi lasts the more passive it is, is 9-5 is instant cutoff, content creation is longer. Add more of the latter = gg.

Right I get that. I think that by focusing on the word passive or Return On (of ROI), it can be easy to gloss over the I or Investment, i.e. work.

What I find ironic, anecdotally, is just how much WORK these wannabe slackers put into their pursuits of 'easy' and/or passive incomes that often Peter out or are dead ends. I say wannabe because their energy output can really spike when they're onto something, effectively working. *lol + facepalm*

 

[1487610420]

Right I get that. I think that by focusing on the word passive or Return On (of ROI), it can be easy to gloss over the I or Investment, i.e. work.

What I find ironic, anecdotally, is just how much WORK these wannabe slackers put into their pursuits of 'easy' and/or passive incomes that often Peter out or are dead ends. I say wannabe because their energy output can really spike when they're onto something, effectively working. *lol + facepalm*

Energy spike as a gauge for wonnabehypeaddictiveness?

 

[PeaceBaby]

Right I get that. I think that by focusing on the word passive or Return On (of ROI), it can be easy to gloss over the I or Investment, i.e. work.

What I find ironic, anecdotally, is just how much WORK these wannabe slackers put into their pursuits of 'easy' and/or passive incomes that often Peter out or are dead ends. I say wannabe because their energy output can really spike when they're onto something, effectively working. *lol + facepalm*

Babe Ruth had more strikeouts than home runs. But he likely felt the home runs made every swing of the bat worthwhile.

Not sure why you find the term passive income "sketchy". As above, it just means your hand doesn't have to touch the wheel everyday to make money. Sure people are always looking for the get-rich quick solution, but if your business lends itself to such opportunities, looking to generate solid passive revenue streams is simply good business. They can often supplement your other work and with a bit of luck and elbow grease, supplant that.

 

[Fidelia]

AJ Drenth (the Personality Junky guy) wrote a good article on passive income involving ebooks and blogging.

PS - Very sorry - I can't find the link. It was originally sent to my email. I'm very bad for reading a high volume of material and then mulching it all together, but I often can't document a lot of it. My bad. However, as I looked up passive income, there were quite a few resources that looked like they could have some good tips. I'm currently in the midst of a bit of career upheaval, and so am considering various projects that might provide some more security and opportunities for me in the future.

 

[Eleanthe]

I have made some money with writing, but its not much. If there is a topic you are really passionate about, a blog can do well. I am thinking about starting a metalsmith blog this year, as I make jewelry and have come up with a lot of new design ideas lately. I think the phrase passive income is misleading. You might be able to be passive once you have tons of stuff live, but until then you have to work like crazy. I went through a couple of jewelry shop ideas before I got it together, so stick with it and do a lot of reading. You need to master SEO and good content creation to succeed.