“Success is doing
what you want
when you want
where you want
with whom you want
as much as you want”
Everyone wants passive income, but, sorry there is no such thing. Income automation exists and it is relatively easy to achieve, but the creation of income streams with no effort or work is a total myth. Income automation takes massive effort and every single stream will have a lifetime maintenance consequence.
Instead of passive income I like to think income automation or the decoupling of your time from how you earn money. This is at the root junction of simple living, because simple lifestyle or not you are going to have to earn some loot to fund your life.
Start with the simplest income automation. Earnings from dividends, stocks, bonds or bank accounts. It takes a massive effort, usually no less than a lifetime of work, to create the money to invest. Then after you invest you better watch it or one day you might wake up to a surprise. The more intelligent you are as an investor the less likely you’ll lose the house. So the maintenance on this type of income automation takes an ongoing effort of monitoring, researching, trading and learning about strategic investment.
Some people want to make passive income online by creating some form of knowledge product and sitting back while their bank fills up. The truth is this type of income automation is possible. But the creation of the product requires a massive amount of effort to deliver the kind of value that leads to rock-star sales. And besides, behind the curtain there is an ever shifting internet landscape of technology, culture and marketing methods that the seller needs to stay up to speed with to ensure ongoing sales. Again the effort to achieve automation is massive and there is maintenance work required.
Unfortunately there are a lot of young people getting seduced by internet marketers that are selling how to get rich information that tells people to sell how to get rich information on to other people. Basically, a pyramid selling scheme where the guy at the top is probably doing great, but most other people driving trucks and doing it part-time are losing all their spare money down a rabbit hole.
A lot of people blog in hopes of a 7 figure internet income. Its just another money making venture and after a couple of years they give up when the loot fails to reward the effort. We don’t make a dime off this blog. Never have and never expect to. This blog is about living better by spending less so there is no point plugging products because the type of people I’m trying to reach shouldn’t be wasting capital on e-products! Even the ads you see below some of my posts were forced in here by WordPress inc because the traffic was okay and I wasn’t greeding it out on advertising dollars. I’m okay they littered that junk on my pages since I use their technology free after all.
So let’s summarize: passive income isn’t passive. Or if it is it might be stupid behaviour spun up in a marketing narrative. For example I heard this one podcast of a get rich passive income guy where he talked about property. I actually own property and I’m a landlord and since I had the time I gave it a listen. Property is complicated there is a lot of risk and owing the wrong property can be a nightmare, but this guy says he drives around with his wife, takes a picture, flips it to a property manager and asks how much he can rent it for. If the answer is good he buys it and turns it over to the guy to manage for him. No inspections, no hassle, no knowledge required. Anyone who is a landlord can tell you how stupid that sounds. This guy is going to find out, if he hasn’t already (or perhaps he’s actually never owned a property) that failing to inspect can cost you hundreds or thousands or hunderdeds of thousands of dollars. There could be any sort of weathertightness issue or structural issue. Just flat out terrible advice from this ‘internet get rich expert’.
But, let me pivot to another train of thought and away from online hype merchants. If success is as defined in the lead in to this post, like if that is success then we made it already baby! No scammy schemes, no complex internet marketing, no get rich quick junk and most importantly no life time of corporate mortgage slavery. Whoop de whoop.
Right now I can mostly do what I want and I mainly like to spend time with my family. However, I guess I wish more of my friends weren’t so addicted to work and could come out and play. That aside I’ve automated some of my income a while ago, but I still enjoy working. Pretty much only free to help someone or on the odd paid caper that appeals to me. I think financial independence gives you a healthy agnostic view of work life balance. Like if you feel like sleeping in you do and if you get fired for being late – no sweat. Something will come up and there will still be vegetables in the garden for tea tonight.
The point of this post is that I’d like you to transform your thinking from millionaire get rich earning thinking and start living like a millionaire right away. You can live free whenever you choose and it doesn’t take multiple streams of passive income or millions of dollars, or junky property strategies to be free. All you have to do is to make freedom your priority. Once you do you’ll love life again. It becomes easier everyday you live freer than the last. Just free time to earn the minimum you need in the shortest time then spend the rest of the day doing things you love with all of the people that you love.