Quote: (12-13-2014 05:23 PM)SlickyBoy Wrote:
I get queasy whenever someone either brings up "passive income" or anything that smells of Rich Dad nonsense. Most of that talk is just a preamble to sell you some program. Real businesses take real work, whether they're online or offline.
Yes 'passive income' is an obtuse way of referring to 'an income producing asset', i.e. 'a business'.
It is a thing though. Many successful founders of businesses get themselves into a position where the business is self-sustaining, and they can live off the profits whilst doing little work (although they do work hard to get there). I was talking to guy a while back who worked in the HR department of a company, and I asked him 'who runs the company'?
"Oh our CEO is such and such, but she's not the owner. The owner doesn't play any active role in the company anymore. We haven't seen the owner in a while, last I heard he was in Thailand somewhere."
That's the guy I want to be.