How Do I Find the Balance Between Actively Working and Earning a Passive Income?
AskPat 2.0: A Weekly Coaching Call on Online Business, Blogging, Marketing, and Lifestyle Design
Pat Flynn
4.9 • 638 Ratings
🗓️ 19 September 2016
⏱️ 12 minutes
🧾️ Download transcript
Summary
Today's question comes from Mark, who has a question about how he can attain a truly "passive" income. How do I find the right balance of effort and passive income? When do I have the time to stop actively working and start passively reaping the rewards? Mark's website is at http://www.exceptionalpoker.com/. In this episode, I mention the 4-Hour Work Week from Tim Ferriss as an example of earning a passive income. You can get Tim's book at http://www.smartpassiveincome.com/fourhourworkweek/. Do you have a question about finding a balance between your active work and earning a passive income? Record it at http://www.askpat.com/.
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Transcript
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| 0:00.0 | AskPath.com. |
| 0:07.0 | What's up, everybody, Patplin here, and welcome to episode 695 of Ask Pat. Thank you so much for joining me today. |
| 0:16.8 | As always, I'm here to help you by answering your online business questions five days a week. |
| 0:20.5 | All right. Now, here's today's question from Mark. your online business questions five days a week. All right. |
| 0:22.5 | Now, here's today's question from Mark. |
| 0:23.9 | Hi, Pat. |
| 0:25.1 | My name is Mark Warner. |
| 0:30.0 | I run the Texas Holden Poker Training blog called Exceptionalpoker.com. |
| 0:37.1 | My ultimate goal with the blog is to write some how-to and advice books from the content I'm creating on the blog. Based on your advice, |
| 0:38.6 | I'm building my email list. I'm creating useful content on a regular basis. I'm putting out a |
| 0:43.6 | regular weekly newsletter with bonus tips and so on. I'm also writing the first book. I really |
| 0:49.3 | like the idea of passive income generated from e-books, but I question just how passive this will ever be for me. |
| 0:55.6 | I'll have to continue blogging, writing the newsletter, and promoting the books. |
| 0:59.3 | You're the king of passive income, but I think you're more active than pretty much anyone else I know. |
| 1:04.5 | You are anything but passive. |
| 1:07.1 | When does the quote-unquote passive part kick in for someone like you? |
| 1:10.5 | Or does it ever? Do you just |
| 1:12.0 | keep on working as hard as ever until you drop? Or is there a point when you back way off? Or is |
| 1:17.4 | there some happy middle ground? I love writing the blog and newsletters, but eventually would |
| 1:22.6 | like to dial some of the effort back, let the future e-books produce true passive income, and then |
| 1:27.1 | begin some other venture or niche blog in parallel with a poker blog. |
| 1:31.1 | What are your thoughts about continuously working actively for passive income? |
... |
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