Today I share my 5 truths about making passive online. I reveal many beginners’s expecation vs reality with their passive income ideas. Busting myths about passive income ideas like YouTube, Dividend stock investing and Real estate.
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The first Truth is: Passive income isn’t a get rich quick scheme! Setting up any passive income stream will require a large time or money investment upfront and that may not pay off until years down the line. The magic of passive income is huge delayed compensation. By going into it with a more long term attitude you will have a much better chance of success. You will do the proper research, planning and learn all the skills you need.
The second truth is that: Passive income isn’t permanent. This really isn’t a ‘set it and forget it’ method. Once you have set up your passive income you change from the builder to the supervisor. Although this involves a lot less work it does still require some of your time.
The third truth is that: School will never teach passive income. Our entire school system is focused on just one way of making money. The whole point of exams and college is to sort people into jobs. They don’t mention that having a job shouldn’t be your only way of making money. There are 3 different ways to make money: Linear income otherwise known as a normal job. Leveraged Income which is when you own a business and people work for you. And finally passive income where your time or money works for you without you having there be there all the time.
The forth truth may surprise you a little: Passive income probably won’t make you happy. My whole focus was on making sure my passive income every month was more than my expenses, so I could be finacially free. When I finally achieved my goals I felt lost and not as happy as I expected.
The 5th truth is that: Passive income shouldn’t be your only income source. One of the main benefits of passive income is that it can multiply your time and the amount you can earn. But as we talked about before it isn’t permanent so if you are entirely dependant on that passive income then you are in a pretty dangerous situation!
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Great video, tired of fake videos, thanks
We need more people like Mark because a lot of us could be millionaires but no one every teaches us how to do it
Can u invest in passive income on the side of having a job like being a doctor or do u have to focus on it fully
Send to me 1000$
I keep on falling for the trap click the new video up here
Imma make money and use it ALL on ice 🥶🥶🥶 and cars
I’m a 13 year old who has no idea what he’s going to do when he’s older. Your advice is really helping me. Keep up the good work.👍👍
Transparent, advices, clear & truth. What else ?
Love it mark
Mark I’m 14 and trying to plan how I’m going to be financially secure when I’m older because I know it’s not going to be easy by exploring different methods of making money. But I know it’s not going to be easy as things are changing so rapidly. I think that linear income is going to gradually reduce year by year and by the time it comes to getting a job not only will there be loads of competition but it will be for jobs that were once high paying but now would only pay mediocre wages. This is why I think it’s essential to have an open mind to different sources of income and your videos are pretty helpful for that purpose. ( you are straight to the point and make strong points too ). I also get really high grades in school and although I know this is important I know that it’s not going to make me money why I’m older.
Love your transparency. Keep it up.
dude I don't understand anything, what am I supposed to do
Hey mark, do you have tips for me making money (P.S im 12 and in uk)
cheers for being so genuine mate
Your amazing to help loads of people I’ve taken all of your advice as a 13 year old and I’m gonna put it to good use so thank you 😁
Amazing content!. I been dealing for a while wanting to make youtube or a podcast but i don´t do it cuz i´m not sure what to talk jajajaja
I bought my first index fond today. In just three hours it went up 2,47% wich is like 3,9 dollars! I love your videos mark,keep on making these videos!🙏❤️