Letters: Readers respond to an article about quitting the rat race, with some saying their generation was handed an untenable position and others saying the struggle is nothing new
I mean if you’re wealthy enough you can just make money on interest and dividends. You can get a 5% interest rate on $2m right now and that’s insured, no real risk. That’s like 75k/yr without doing any work.
But that’s probably not what most people mean when they say passive income. And basic income for the wealthy is kind of backwards.
It’s real in the same sense that income from illegal activities is real. You have to report it to the IRS and it requires harming others in order to acquire.
It is real, you just have to have sufficient funds already to be able to pay someone else to do the active part of the income and make sure they are earning less than their worth so that you can pick up the excess. Most effective if there are many layers in between, so that the income becomes increasingly passive as you move up the chain, so that those under you have something to strive for, because you don’t want to be in charge of hiring all of those people, so you hire people to hire those people, each taking a cut of the value along the way.
But don’t worry, the American Dream™ is that, as long as you keep working about 10 layers deep in value cuts, eventually you might be able to get into layer 3 or 4 and get your kid into the job early so that they can get to layer 5 or 6, and maybe they’ll have enough money to get their kid to 6 or 7.
I make about $7k a year from some books and T-shirt designs I did a few years ago. I literally do nothing to maintain them (I put in the hard work making them originally) and the money just goes in my bank each month. It’s certainly not enough to live on, I have a full time job, but it pays for our groceries.
I publish through Amazon Print on Demand services (Amazon Merch and KDP), and I have a few other stores selling items too. Basically I design the manuscripts and graphics, upload the files to the service, they list it, and when it sells they print and fulfill it and send me a portion of the profit.
One Christmas I made $8k in a month and we went on a cruise with the profit. Those were good times! It’s settled down a bit now as more people have flooded the platforms and copied all the content.
Nobody can convince me that passive income is real.
I get around $400/mo from the VA for being exposed to toxic chemicals that will lead to me having cancer in the next ten years.
Pretty good trade off, let me tell ya!
that reminds me I need to get the burn pit stuff going
Yes, you do. If you need help, message me. No dox, but I can help you out.
Google “intent to file VA”, and fill it out right meow. Whatever claim gets processed will be backdated to the date that form was submitted.
Lol well ok there’s one. I do surveys for money so I suppose that’s kind of passive?
I think you need a refresher on the definition of passive
Lol. Well it makes me money is all.
that would be active :p
I mean if you’re wealthy enough you can just make money on interest and dividends. You can get a 5% interest rate on $2m right now and that’s insured, no real risk. That’s like 75k/yr without doing any work.
But that’s probably not what most people mean when they say passive income. And basic income for the wealthy is kind of backwards.
It’s real in the same sense that income from illegal activities is real. You have to report it to the IRS and it requires harming others in order to acquire.
It’s real when you own property.
Or any investment, such as stock
Well, some stocks. Probably not going to get much in the way of passive income by buying DJT or RDDT
Rereading my comment I realize I was more vague then I meant to be lol
I meant any type of investment in a broad sense and not like “any crappy stock will do it!”
Obviously a bad investment is a bad investment and is not gonna bring in them dolla dolla billz
I know, I was just poking fun :P
You got a 401k? Boom, passive income.
No because they’re American.
You got a pension? Boom, passive income.
It is real, you just have to have sufficient funds already to be able to pay someone else to do the active part of the income and make sure they are earning less than their worth so that you can pick up the excess. Most effective if there are many layers in between, so that the income becomes increasingly passive as you move up the chain, so that those under you have something to strive for, because you don’t want to be in charge of hiring all of those people, so you hire people to hire those people, each taking a cut of the value along the way.
But don’t worry, the American Dream™ is that, as long as you keep working about 10 layers deep in value cuts, eventually you might be able to get into layer 3 or 4 and get your kid into the job early so that they can get to layer 5 or 6, and maybe they’ll have enough money to get their kid to 6 or 7.
Not with that attitude!
What about royalty income? Like, residuals, or…?
A few years ago I designed a bunch of clever tee shirts…and they keep selling. Not a ton, but enough for me to call it “passive income” at this point.
I make about $7k a year from some books and T-shirt designs I did a few years ago. I literally do nothing to maintain them (I put in the hard work making them originally) and the money just goes in my bank each month. It’s certainly not enough to live on, I have a full time job, but it pays for our groceries.
What do you make them on? Good for you!
I publish through Amazon Print on Demand services (Amazon Merch and KDP), and I have a few other stores selling items too. Basically I design the manuscripts and graphics, upload the files to the service, they list it, and when it sells they print and fulfill it and send me a portion of the profit.
One Christmas I made $8k in a month and we went on a cruise with the profit. Those were good times! It’s settled down a bit now as more people have flooded the platforms and copied all the content.