Passive income: is it REALY PASSIVE? It all depends on the individual

I can honestly say I believe everyone wants money, and everyone would love free money. We all dream of earning great wealth while not working for it. That is the ultimate dream right? Imagine having an unlimited supply of money, how would that make you feel? How would youvlike to be able to do what you want, when you want?

But really think about it for a moment. It's important to imagine what it would be like because if we don't, these dreams don't have a chance of becoming reality.

In many cases, if you're reading this, you're probably not wealthy beyond comprehension. Perhaps you clicked on this post because you wanted to see what the hell I wanted to say by "REALLY PASSIVE" and "IT DEPENDS ON THE INDIVIDUAL" or because you're searching to build passive income and thought you could find a lead towards a golden nugget in here. In either case, you're here, so let's investigate a little, to see what it all means, and how passive is passive.

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MONEY: Should we love it, or hate it?

I personally wasn't always interested in money, I had some sort of hate for it in my late teens to early twenties. I thought money, and the rich were the root of everything that is wrong in this world. I've since turned around and formulated the idea that money isn't what brings people problems, people bring problems. One of the things that brought me to this idea was listening to Robert Kiyosaki, the author of Rich Dad Poor Dad, and reading a few of his books. I even went to one of his free seminars once. I wanted to become a "real estate investor" in NYC! That was really just a sales pitch for a real estate computer program that, supposedly does the leg work for your "due diligence" for potential income producing properties. While the seminar was about selling that program along with an awesome board game, and his books. I learned a few good things too:

1- There are always deals to be had. It's just a matter of finding them and knowing how to walk the talk.

2- Hiring a management company for your properties is better than doing it all on your own. It's a pay cut, but your properties won't turn into a full time job!

3- Buying property in a landlord friendly state is, by far, better than in a state where the laws for renters are strong. It is a business after all, and you want to be able to replace your tenants when it's necessary.

4- Networking with other investors is a great place to find deals. Other real estate investors may have properties they want to liquidate. It's also a great place to learn about the industry.

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Not building wealth is too easy.

There were a few good things to learn in this whole seminar. I'm sure I'm missing a bunch of stuff here, there were a lot of golden nuggets that day! It goes back a good 10 years ago probably. And still, I have almost no real estate investment properties...

That's because I have concentrated my energy elsewhere. That being said, here are some of the steps that have kept me from investing in creating a real estate business:

1- It takes a lot of work to build a team.

2- It takes learning a new language, to convince people to give you their money to buy property with. "Other People's Money".

3- To truly buy low, you must be willing to make certain sacrifices in your morality. Sometimes another person's misery is what can make you rich. I'm generalizing here, and I only assume taking advantage of other people's struggles is a big part of buying low. Though, if you don't take that opportunity, someone else will, so why not?

Excuses excuses... yes these are all excuses for something I've never achieved. I'm working on that. We have land which is currently on a website just like Airbnb, that we rent out camp sites on. It's a start.

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If you have a place for a tent, you can make a passive income too. But please use my referral link here, we'll both make an extra something the first time someone stays at your place!

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Now I like money, a lot! I'm seeking it, I'm making it, and I'm learning how to make that money make more money, all on its own! So this post is about just that, and looking at how passive income is passive...

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Final thoughts:

So if you're not born into wealth, you probably won't be taught much about money, how to maintain it, how to make more of it, how to keep more of it, or how to build generational wealth. Those things aren't taught in schools, and our parents didn't know it either. We can learn how to make money, we can learn how to plug all the holes in our leaky buckets, but without the proper teachings of multi-generation knowledge of tax advantages, we certainly cannot easily learn how to keep our money.

In essence what I'm saying is that it will take a lot of work to create true passive income for yourself. While it is absolutely possible, especially today with the changing paradigm of the banking system, but it will still take some work. There are smart ways of doing this, but rest assured, there are no short cuts.

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Once we have built passive income, whether it's from DeFi projects in the crypto space, finacance in the centralized economic system, real-estate, or some sort of royalties, we have to maintain and grow this income. At that point the work becomes about keeping it alive and healthy ourselves, or sacrifice some passive income for someone else to maintain. If we choose the second option, we will have more time to grow our wealth.

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I am not independently wealthy, these are just observations I've gathered through listening to, and learning from certain people I find incredibly agile in the world of passive income. While we've only taken baby steps so far, I am confident that what I've learned is of great value, it's just a matter of creating plans I can execute.

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So, is passive income really passive? With perseverance, diligence, and we'll calculated plans, I believe it can be done! I chose the slow and steady" road to financial freedom!

Let me know your thoughts please, they will be well appreciated!

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