moonchild
VIP Contributor
Passive income is a way of generating income passively without working or putting in any effort.
Most people struggling financially get caught up in the web of passive income, but realistically anybody that doesn't have a long leg financially will find it a herculean task to be able to generate a passive income, because initially you have to put in money before money will be generated.
Think of all of the business that generated passive income, like YouTube, blogging or investment banking.
They have to put in a significant amount of time and money to be able to reach that level, let's look at YouTube for example.
You have to buy a camera, and videography gears, and invest in content and also other things, and all of this will not yield result, till after an ample time.
So, before thinking of making passive income, invest in getting an active income and work your way up on the wealth ladder.
Also, there's another way, if you have a lot of time on your hand, like a teenager or a college graduate still contemplating what to do next.
You can invest time and build a business from scratch and go all in, either way something get to give and it's not all rosy as it is portrayed.
Most people struggling financially get caught up in the web of passive income, but realistically anybody that doesn't have a long leg financially will find it a herculean task to be able to generate a passive income, because initially you have to put in money before money will be generated.
Think of all of the business that generated passive income, like YouTube, blogging or investment banking.
They have to put in a significant amount of time and money to be able to reach that level, let's look at YouTube for example.
You have to buy a camera, and videography gears, and invest in content and also other things, and all of this will not yield result, till after an ample time.
So, before thinking of making passive income, invest in getting an active income and work your way up on the wealth ladder.
Also, there's another way, if you have a lot of time on your hand, like a teenager or a college graduate still contemplating what to do next.
You can invest time and build a business from scratch and go all in, either way something get to give and it's not all rosy as it is portrayed.
