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10 reasons you should never get a job
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<blockquote data-quote="tonysoprano" data-source="post: 1273790" data-attributes="member: 13127"><p>I agree with most of what you said here but I think you're misunderstanding what "passive income" refers to. It's not pressing a button or following a simple 10 step plan then sitting back and watching the cash roll in. Obviously that doesn't exist or everyone would be doing it. That's what a lot of gurus peddle and people do fall for it.</p><p></p><p>What you're right about is that it takes massive amounts of hard work up front to reach a point where your income is passive. Even then you have to manage it to an extent. But if you have 10m banked from the sale of a company and you invest that money, with just 5% growth in your portfolio you are profiting 500k passively before taxes <u>per year</u>. When you have money you can make it work for you, for perhaps only an hour or two of maintenance per week, if that.</p><p></p><p>What passive income does for you is it frees up your time so you can work on what you want to work on. People who have reached financial freedom don't sit on a beach all day sipping cocktails. That's what the gurus want you to think because they are selling that dream, not the true fruits of the labor (they are selling the easy way out).</p><p></p><p>Financially free people pursue whatever it is they want - hobbies, more time with family and friends, pursuing a cause greater than themself like starting a charity, the list goes on. People who work full-time jobs just don't have the luxury to do that to the extent someone with passive income does. If they hate what they're doing and burn out, they may not have any energy at all to enjoy anything outside of work.</p><p></p><p>You bring up a good point about "doing what you love", but the problem with that is what you love may not be what the market demands. You may love making origami or learning different languages but the odds of making a suitable living doing those things are slim to none. Not to mention you run the risk of losing interest in the very activity that you love because you're no longer doing it for the love of it, but for the pursuit of profits. There are countless examples of this. For this reason I believe it's best not to mix business and pleasure in most cases.</p><p></p><p>My opinion is that most people who crave the freedom to do what they love are better off serving a market, making lots of money doing so, cashing out, and letting their money work for them while they bask in the freedom of being able to do whatever the hell they want, whenever they want.</p><p></p><p>This is what most people don't understand and why there's a negative visceral reaction when their views about holding a regular job and the status quo are challenged.</p></blockquote><p></p>
[QUOTE="tonysoprano, post: 1273790, member: 13127"] I agree with most of what you said here but I think you're misunderstanding what "passive income" refers to. It's not pressing a button or following a simple 10 step plan then sitting back and watching the cash roll in. Obviously that doesn't exist or everyone would be doing it. That's what a lot of gurus peddle and people do fall for it. What you're right about is that it takes massive amounts of hard work up front to reach a point where your income is passive. Even then you have to manage it to an extent. But if you have 10m banked from the sale of a company and you invest that money, with just 5% growth in your portfolio you are profiting 500k passively before taxes [u]per year[/u]. When you have money you can make it work for you, for perhaps only an hour or two of maintenance per week, if that. What passive income does for you is it frees up your time so you can work on what you want to work on. People who have reached financial freedom don't sit on a beach all day sipping cocktails. That's what the gurus want you to think because they are selling that dream, not the true fruits of the labor (they are selling the easy way out). Financially free people pursue whatever it is they want - hobbies, more time with family and friends, pursuing a cause greater than themself like starting a charity, the list goes on. People who work full-time jobs just don't have the luxury to do that to the extent someone with passive income does. If they hate what they're doing and burn out, they may not have any energy at all to enjoy anything outside of work. You bring up a good point about "doing what you love", but the problem with that is what you love may not be what the market demands. You may love making origami or learning different languages but the odds of making a suitable living doing those things are slim to none. Not to mention you run the risk of losing interest in the very activity that you love because you're no longer doing it for the love of it, but for the pursuit of profits. There are countless examples of this. For this reason I believe it's best not to mix business and pleasure in most cases. My opinion is that most people who crave the freedom to do what they love are better off serving a market, making lots of money doing so, cashing out, and letting their money work for them while they bask in the freedom of being able to do whatever the hell they want, whenever they want. This is what most people don't understand and why there's a negative visceral reaction when their views about holding a regular job and the status quo are challenged. [/QUOTE]
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