Is he right about this?

RavySnake
RavySnake

Is he right about this?

BinaryMan
BinaryMan

@RavySnake
If someone paid me to be "me" which is doing what I normally would want to do for no reason, is that considered a job or passive income?

Whoever wrote that is retarded. Obviously prejudiced against the affluent and those aspiring to be [affluent].

FastChef
FastChef

What about this doesn't seem right to you?

Parking your money in index funds and living on the returns is the only passive income.

Real estate is literally a part time job, or a second full time job if you have melanin challenged tenants.

Day trading and shitcoins require constantly monitoring it.

Stupidasole
Stupidasole

"Passive income" is just a pyramid scheme buzzword. Whatever you do, you have to put some effort into maintaining it, or it will get swindled or fubared. The only things that take zero effort also produce zero profits.

Stark_Naked
Stark_Naked

@Stupidasole
The only things that take zero effort also produce zero profits.
Wrong.
Gains from a savings account are miniscule but non-zero.

Lunatick
Lunatick

@Stark_Naked
Might not offset inflation, though.

Soft_member
Soft_member

@Stupidasole
The only things that take zero effort also produce zero profits.
Index stock funds have returned 11% annually over the last 89 years. Explain yourself.

SomethingNew
SomethingNew

@Soft_member

Can you really rely on 11% though?

massdebater
massdebater

@SomethingNew
11% of a million dollars would mean I make 6 figures.

likme
likme

@massdebater

What if you don't already have a million in the bank?

Being a millionaire in a wheelchair is better than being broke, but it's not a good life.

Gigastrength
Gigastrength

@SomethingNew
Can you really rely on 11% though?
You have been able to for the last 89 years, which includes wars, recessions, bubbles, scandals, and a few dozen financial crises.

PackManBrainlure
PackManBrainlure

@FastChef
Hi guy
what about dividend paying blue chip stocks?

Snarelure
Snarelure

@likme
If you're a millionaire in 2060 you will be able to afford age-reversal treatments.
They are already working on gene therapies to reverse telomere shortening.

Firespawn
Firespawn

He's right. Passive income doesn't exist. If you acquired enough money for it to just grow while doing nothing then you're already rich. Things like streaming, short term trading, or renting require active management. No you can't fucking live off an index fund because that would require you to actually to do work to reach that point.

RavySnake
RavySnake

@Firespawn
rich people don't have income
it doesn't count as income unless it's enough for you to quit your job

BinaryMan
BinaryMan

@TechHater
he doesn't know the rich will live forever

King_Martha
King_Martha

@RavySnake
Well, he contradicts himself. He's right that passive income doesn't exist, unless you consider collecting welfare money passive income.

farquit
farquit

@King_Martha

Being a degenerate takes work though

iluvmen
iluvmen

this thread.

holy shit it's like Veeky Forums has never heard of rent seeking or holding equity.

First job I ever worked was at a restaurant. I worked there 3 years and never met the owner. He had nothing to do with the business he owned. That's passive income.

does it mean you're rich? Not necessarily. A person could have a very small source of passive income, they'd just need a real job as well.

Playboyize
Playboyize

@King_Martha
welfare

Well shit, I hadn't thought of that. Shitting out a kid every five years starting at 18, you can probably live off wic for at least 20 years, general welfare until roughly 58.

PackManBrainlure
PackManBrainlure

@RavySnake
This is just some asshole playing the semantics game to look smart and inflate his own ego with internet bravado.

ZeroReborn
ZeroReborn

@RavySnake
He's wrong.

I am not rich. I have apartments that I rent out. I earn income from doing it. It's passive.

SomethingNew
SomethingNew

@RavySnake
It's true. There is a difference between wage-slaving and renting out apartments. While you renovate and search for tenants it can easily amount to a full-time job, but once everything's running it drops down to a few hours a month per apartment. Still, that's hardly passive.

If you contract everything out to external people (rent agency, trader, portfolio manager in private banking, etc) it approaches passivity, but like others have mentioned - that requires for you to be so rich that the substantial fees this would cost drop down to a few meager percent and are made-up by the gains. Just a rental agency would take about 20% of my yearly revenue which would plummet my ROI. Add an accountant, tax lawyer, architect, etc and I'd be looking at less than 0.5% pa. Sure, it's almost completely passive, but it's also complete shit...
I'd also hesitate calling this *your* income - you're literally an exchangable money bag at this point since you contribute zero to the wealth gain. Like with the example in @iluvmen
- what's keeping everyone in the restaurant from moving next door and cutting the owner out of the equation if he doesn't contribute anything? Also, even that owner has to check books, hire a manager, file taxes, shoulder some kind of responsibility, etc.

@FastChef
Pretty much this.

Truly passive might only be savings though. Even with index funds you've gotta pay attention to the markets, select which indices to buy and at what point in time. An index fund usually only tracks the market and doesn't regularly pay out money. So you need to sell your shares periodically which adds another layer of complexity and required knowledge.

@Playboyize
calling child rearing a passive job
Let me guess - you've never had kids?

hairygrape
hairygrape

there is no such thing as passive income
passive income is when youre rich
some people are rich

He sure is retarded tho

VisualMaster
VisualMaster

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

AwesomeTucker
AwesomeTucker

Of course passive income exists.

There are plenty of revenue streams that require nothing more than a few hours of maintenance a week or month.

If the gains are disproportionately greater to the time/energy you put in, it's passive. Perhaps not literally, but passive income is a colloquialism.

CodeBuns
CodeBuns

You do realize that the tweets from Wall Street Playboys is troll tier right? It's probably a bunch of literal niggers because they never showed their faces on the blog or exposed their income. There is no transparency about them.

Fuck WSP, they're literal gay niggers (or crackers)

Stark_Naked
Stark_Naked

@AwesomeTucker
If the gains are disproportionately greater to the time/energy you put in, it's passive.

So if you make more than 150k a year you have only passive income?

This doesn't make any sense. A couple hours of maintenance a month yields you 400 bucks on a condo. A lawyer bills 400 bucks an hour. So a lawyer working is more passive than owning a condo?

I think you're more correct with
not literally, but passive income is a colloquialism.
You're right, it's a buzzword without much thought or logic behind it.

MPmaster
MPmaster

@RavySnake
If I invest into an peer to peer loan and get a % on that how is this an active income?

girlDog
girlDog

@RavySnake
did he buy potcoin yet?

lostmypassword
lostmypassword

What is equity in a company you are no longer a part of?
What are royalties on music or books that you no longer have shit to do with
What is my YouTube that pays me $100 annually despite my last video being uploaded 4 years ago

That is passive income in the truest sense.

TreeEater
TreeEater

@CodeBuns
implying skin color has anything to do with wealth
Kys my man

Skullbone
Skullbone

@RavySnake
Obviously most sources of "passive" income aren't truly passive. Clearly most are going to take a degree of work.

I think anyone with half a brain can see that. Being picky with language doesnt make you insightful.

SniperWish
SniperWish

@lostmypassword
Nah dog, you're just receiving parts of the adequate compensation for the work you did in the past. Making videos, writing books, building a company - that's hardly passive.

If you work your ass off in 2012 but receive all payments in 2016 that's not passive income...

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