Controversies of Passive Income


I don’t have to preach on this subreddit as I’m sure so many, if not, all of you are very interested in building passive income. Unfortunately, there’s a lot of debate around passive income and if it exists.

I wrote an article more about it [here](https://lifechiefnation.com/what-is-passive-income-and-how-can-you-build-it/), which you can read if you’d like.


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I think this controversy stems from not understanding what passive income is and what it sounds like. To newcomers, as it might have to you when you first heard it, passive income sounds completely passive. As in you do nothing to get something. And not just a little something, but the promise of covering your monthly expenses and then some so you get to live out your dream life in return for doing nothing. As much as we’d all love that to happen, that’s just not what passive income is.

It’s called passive income because you need to do little to nothing to *maintain* the income stream. It correlates closely to residual income and could almost be used interchangeably.

Residual income is an income stream from which you are paid *after* the work has been completed. For example, creating an online course. You spend a lot of time creating the course and then technically you wouldn’t have to do anything after that. Granted you may want to spend time promoting and marketing the course to increase the income, you could arguably do nothing.

Aka the “passive” part of passive income lies in the journey, but not the beginning.

It requires either time or money, and in most cases, a mixture of the two invested in building that income source. Even then, the time it could take to make it a sustainable income stream, by which I mean reliably liveable off of, it could take years. While that may seem discouraging, you can absolutely build it with consistency, diligence, and discipline.

So many times people, who have built up passive income and have money *work for them*, are questioned “why are you doing this,” “how could this ever work,” etc. It’s not until they have built it up and succeeded in their goals that people are wide-eyed asking “HOW?”

There’s a lot of controversy around passive income and if it exists. My point with this post is to let you know that it’s okay to go against the grain. It’s okay to work for passive income. Believe in yourself. Stay persistent in your goals and aspirations. You will get there. I believe in you!



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