Edit:
Hey everyone! I've heard a lot the concept of passive income and financial freedom, but I still don't get it, like is there a way to a completely PASSIVE option? I'm talking about not working at all (not even 3-4 hours a week) and still earning money.
"False" passive option:
So first, there's the "false" passive option, aka the FIRE method (not the concept itself but more the "HOW"), by being frugal and giving all your money to Wall Street, this is financial dependence so not true independence.
The right neighborhood and the right house:
Then, if you want to be financially independent, you need to have your own business. But is there a way, using "the right neighborhood and the right house", to completely passive option? You seek freedom over financial growth with your company ("Company of One" book) and you can work remotely, wherever you want. But it means that you will still have to work a bit on your business somehow.
Sold your company:
Another way will be to sell the company but you will be dependent on the cash. (This is the most realistic one, even though you don't earn money, you can relate on a large sum of money, see Post #8)
So for me, complete PASSIVE option, aka not working at all and still earning is impossible, if you have a business, you will always have responsibilities and work to do.
What do you think?
Edit note:
I'm just looking into a hypothetical idea, about complete PASSIVE options. When I said things like "still have to work a bit on your business", does that mean that I'm not willing to work a bit on my business? not at all, it just means that it is PASSIVE (aka asymptote) but not completely PASSIVE (not working at all).
Please understand that I think, it's impossible to have a 100% completely PASSIVE option. And even if yes that's probably not the way I'd go, I just want your thoughts on this idea of completely PASSIVE option.
P.S: I changed this first post and the title, to orient it more about passive income and financial independence than retirement.
Hey everyone! I've heard a lot the concept of passive income and financial freedom, but I still don't get it, like is there a way to a completely PASSIVE option? I'm talking about not working at all (not even 3-4 hours a week) and still earning money.
"False" passive option:
So first, there's the "false" passive option, aka the FIRE method (not the concept itself but more the "HOW"), by being frugal and giving all your money to Wall Street, this is financial dependence so not true independence.
The right neighborhood and the right house:
Then, if you want to be financially independent, you need to have your own business. But is there a way, using "the right neighborhood and the right house", to completely passive option? You seek freedom over financial growth with your company ("Company of One" book) and you can work remotely, wherever you want. But it means that you will still have to work a bit on your business somehow.
Sold your company:
Another way will be to sell the company but you will be dependent on the cash. (This is the most realistic one, even though you don't earn money, you can relate on a large sum of money, see Post #8)
So for me, complete PASSIVE option, aka not working at all and still earning is impossible, if you have a business, you will always have responsibilities and work to do.
What do you think?
Edit note:
I'm just looking into a hypothetical idea, about complete PASSIVE options. When I said things like "still have to work a bit on your business", does that mean that I'm not willing to work a bit on my business? not at all, it just means that it is PASSIVE (aka asymptote) but not completely PASSIVE (not working at all).
Please understand that I think, it's impossible to have a 100% completely PASSIVE option. And even if yes that's probably not the way I'd go, I just want your thoughts on this idea of completely PASSIVE option.
P.S: I changed this first post and the title, to orient it more about passive income and financial independence than retirement.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.
Last edited: