The Truth About Passive Income
Joe Woodhouse (Chartered MCSI)
Passionate About Helping Families Protect and Secure Their Financial Future
I want to talk about "passive income", it’s a major buzz word on the internet at the minute, and if you fall into the trap of googling it or clicking on any link that promises you a life of easy money - your Facebook, Instagram, YouTube and emails WILL blow up with adverts, forever.
But the truth about passive income is there are only 2 real ways of making it.
- Invest in property, and rent it out.
- Invest in the Stockmarket and receive dividends.
That is it. Anything else, doesn’t really exist. So all these scumbags you see online who tell you if you pay them $500 they’ll show you a sure fire way to quit your job and spend the rest fo your life on a beach in Mexico sipping Pina coladas. It’s bullshit.
It’s just not true, There is a very, very small percentage of people who have ever achieved this and I guarantee it’s followed a boat load of hard work, everyone wants a get rich quick scheme and there is no such thing. There is no magic formula.
I know it destroys the dream, and beside a magical win on the lottery (which is gambling so we're not including that) if you want that luxury lifestyle - you have to earn it. Or be lucky enough to be born the child of a Russian oligarch i suppose...
So just to clarify. The 2 real forms of passive income: Property and the Stockmarket. That’s it. Everything else is just noise.
Thanks for reading,
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About the Author:
Joe is a proud Father, Financial/Lifestyle Planner and Founder of Family Wealth 101. An online blog/forum containing regular free content, mainly in short videos about finance, family and Expat Living. No jargon, no sales.
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AKA ‘A Shropshire Lad in Switzerland’ -35 years experience in helping English speakers overseas to become more confident and empowered to thrive in their adopted countries through my information and event services.
4 年Great article -all my social media feeds are full of these fantastic passive income schemes and coaches/middle or lower pyramid managers telling us how easy it is if we join them.