When “Passive Income” Isn’t So Passive

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 27 May 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Anthony is with us in Canada to start this hour.
0:25.0	Hi Anthony, how are you?
0:26.0	I'm good, how are you doing?
0:28.0	Better than I deserve. What's up?
0:30.0	Hey, I got a question, so I have, I sold my rental properties. There's a bit of a, I was under the belief that it was a passive income and it really wasn't. So we got out of it, got out of it at the right time I think and you
0:45.4	mean you had to actively manage the rental property yeah you mean the tenants don't
0:49.8	just do what they're supposed to do all the time. I'm shocked. They were calling me and they
0:54.3	wanted like repairs done and stuff. Anthony I just have to disagree with you. I've
0:57.6	watched plenty of Tik-talk videos. I think you're out of line here.
1:00.3	That was sarcasm.
1:03.0	It is a passive income on sarcasm.
1:06.0	I'm glad you realized it.
1:07.0	So you sold it, Anthony.
1:08.0	I'm sorry.
1:09.0	And go ahead.
1:10.0	I also watched those Tik-Toc videos which got me into it.
1:12.0	Thus our point, yeah.
1:17.0	Okay.
1:18.0	I have $240,000 coming in and I have fully stocked emergency fund. We're giving money. We have our, like,
1:31.4	we call R-E-S.P. for my kids education.
	...

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