The 7 Truths & Myths About Passive Income

The Tai Lopez Show

Tai Lopez

Business

4.8 • 6.9K Ratings

🗓️ 11 July 2019

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Problems hiring? Go to ziprecruiter.com/taifor a smarter way to hire for FREE!Visit netsuite.com/tai to download your FREE guide, “Seven Key Strategies to Grow your Profits”Go to stamps.com, and click on the microphone at the top of the homepage and type in TAI—to get a 4-week trial plus free postage and a digital scale without any long-term commitment.“Don’t ever let people oversimplify.” - Tai Lopez(click to tweet)Most of us got a job the moment we turned 16. Little did we know that this would program us to believe that employment was the only way to make money. Go into work, do what’s told of you, and a deposit will land inside your checking account every 2 weeks. On today’s episode of The Tai Lopez Show, we are breaking down income from a passive vs. active perspective. By addressing the myths and truths, we can distinguish between the two, and prioritize what our next venture should look like. Tune in to this episode, so you know how to find the balance between passive and active sources of revenue!Don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!“I personally don’t want 100% passive income.” - Tai Lopez(click to tweet)Points to Keep In MindSemantics means how you define the word, passive depends on your definitionThe active/passive income conversation is a false dichotomyThe truth is somewhere in the middle, not in the extremesStart your own Home Sharing Management Company (HSMC) on AirbnbSeek out affiliate digital marketing as another passive income sourceDon’t get paralyzed by overthinkingYour brain’s amygdala stores your fear/memoriesRead Civilization and Its Discontents Learn more about your ad choices. Visit megaphone.fm/adchoices

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Transcript

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0:00.0	Welcome to today's show. I'm in Central Park, Manhattan, New York. Let's talk
0:06.0	about active versus passive income. A lot of controversy I'm seeing online.
0:14.6	Some people saying passive income is a myth that you shouldn't shoot towards
0:21.1	the goal of creating passive income and of course other business influencers
0:25.9	saying it's all about passive income. What's the truth? That's what we're going to
0:30.1	get to and we'll give you how I see it based on my life and working with hundreds
0:39.2	of thousands of business owners over the last year. So the last years. So let's
0:47.0	just jump right into this. I want to talk about seven truths slash myths about
0:56.2	passive income. Okay, try to get through all of them. I'm only get to five of them
1:01.2	while I'm on this walk in Central Park. So I'm trying to do my 10,000 steps
1:05.4	every day. It's fast and cardio in the morning. So killing two birds is one stone
1:09.9	by doing this podcast as I walk up. I sound out of breath or whatever you know
1:16.2	what's up. Okay, number one. Myth slash truth about passive income. It's all
1:25.5	semantics. Okay, if you don't know what semantics is, semantics basically means
1:32.6	something very simple. It depends on your definition of the word. So if you define
1:40.2	the word passive as completely zero input by you, yeah, then you'll probably never
1:48.6	have passive income. But if you define passive income as something very minimal in time
1:58.2	expenditure, then it's very realistic for passive income. For example, I started doing
2:05.2	real estate as a part-time investment. I'm just going to guess. I don't know. 2006, maybe
2:13.1	five actually. I was in Raleigh, North Carolina and I worked with, I had a business partner
2:20.6	who was older than me, more experienced. Basically a retired millionaire by the time he was 30,
2:26.4	named John DeWarr. And so he had come from Wacovia and business real estate lending. So he
	...

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