In the pursuit of personal finance the notion of passive income has captured the imagination of many.
The promise of achieving your dreams by making money while you sleep or relax on a beach...
This concept has led countless individuals to pursue a lifestyle with investments, real estate, and online business.
Often, this concept of passive income is sold to us through various ads on screen brought by by millionaire guru's.
However, beneath the surface of this seductive concept lies a fundamental truth that often goes well overlooked...
Passive income is simply a myth!
If it wasn't a myth, why do these so-called ''guru's'' still need to make videos telling you about the so-called passive income strategy?
In the pursuit of financial independence, it's essential to recognize that results require ongoing effort.
If you want something in life, you've got to put in the work and effort to achieve it.
Nothing is free!
Even the price for reading this article isn't free! You always spend your valuable time!
But don't worry, you're investing it to learn something valuable today!
That's right, everybody spends their time!
Success is not to achieve something, but rather to maintain it!
Visualise passive income as a carousel-wheel in a theme park.
You are the boss of the wheel, and thereby sell the tickets for people to sit on the wheel.
So to get the wheel spinning and keep people amused, you need a lot of force and a few pushes to get it into a smooth turning motion.
Now imagine you would stop spinning the wheel, what would happen to the people on it?
Without periodic attention and management, the once-spinning wheel begins to slow down into a boring attraction...
The key takeaway is that true passivity is unsustainable, like the carousel; it needs a small push once in a while to keep the momentum going.
Image is copyrighted and not owned by Thinkark in any way, no profit will be made from this article. Will remove upon request
If you don't check on your source of income by investing your time and energy to keep things going, It will eventually stop earning you income.
The term "passive income" itself can be misleading. It implies a source of revenue that requires minimal effort once established.
However, this perception is flawed. Successful passive income streams demand ongoing involvement, whether through monitoring investments, optimizing business processes, or adapting to market changes.
Debunked
Investments, for instance, require regular assessment and adjustment.
Market conditions fluctuate, industries evolve, and economic landscapes constantly shift.
Ignoring these changes can lead to diminishing returns.
Similarly, a business left on autopilot may face disaster in a dynamic marketplace.
Let's say, you have an online business model... does the same truth also apply?
Social media pages, for instance, require regular updates and reviews.
Algorithms and laws that apply change frequently.
The same content strategy you used a year ago might be outdated today.
Dropshipping, for instance, requires a regular review of your products.
You need to constantly be ahead of your competitors, which are the big brands and businesses with thousands of employees.
Laws constantly change when dealing with physical products, with different tax rates, and so on.
Basically to get things going smooth, you have to stay informed all the time!
Image is copyrighted and not owned by Thinkark in any way, no profit will be made from this article. Will remove upon request
Concluded
To be successful, we must accept the reality that a gentle push here and there is essential to maintain momentum and ensure sustainable income.
By approaching '' the passive income myth'' from a realistic perspective, people can navigate the financial landscape more effectively,
recognizing that continuous effort is the invisible force that keeps the wheel turning.
Go and find what you love doing in life!
That way, you won't be bothered by the myth of passive income.
Because if you truly love doing what you're doing, you won't be looking for any method to make it ''passive''.
Add comment
Comments