I will start off by saying I am not on any social media whatsoever. That said, I have been reading about how people are talking negatively about passive income.
Apparently there are big time tic-tockers who are choosing to be boss babes, boss guys; or so they call it. Young people.
Some are profiting from micro currencies and bitcoin. Stock market options and daily trading. While others are making their millions by buying cheap real estate in run down areas and flipping them. Nothing wrong with that in theory, except people are very upset that these individuals are fixing up rundown homes with the cheapest of the cheap fixtures, etc, and selling them for astronomical prices. Not to mention, taking these areas where the lower income folks could only afford to live, off the market entirely. Basically, making families homeless because there are not enough cheap rents or homes anymore. This is what is irking people.
There are also handfuls on top profiting from MLM’s. Personally, I think MLMs are the bottom of the barrel and really do prey on peoples poverty by exploiting them. This is no secret, yet people do seem blindsided out of desperation. Hardships are real, and we have all experienced them. Myself included.
I am not entirely sure how I feel about the real estate flipping game. Yet!
I do think getting into real estate and/or the stock market will not be going anywhere and are smart financial decisions that can, and will benefit your families future if you know what you are doing and are willing to gamble a bit. There is no easy get rich plan. Unless you have an inheritance.
Reselling is also huge right now.
I first jumped on the band wagon back in 1999.
It was very new back then. I took a break to raise kids, and then I jumped back into it about seven years ago. Back in the days, people didn’t have any opinions on it. At least I never heard them when I was asked what I did for income. But that has all changed now. People are ticked off! It’s as if no one wants you to succeed. Or at least no one wants you doing better then they are. It’s absurd! I am still a believer they hard work pays off.
When you mention that to someone nowadays, they laugh at you.
I think it’s because you can have two jobs working you to the bone and still just make it. Inflation is robbing us all. The government wants to keep us all poor. Make no mistake on that. Sorry if that offends you.
This is where passive income plays in.
Forget working two dead end jobs eighty hours a week, and find or invent a service job that you are good at and enjoy.
People do not want to do this though. Why? It takes double the work. Double the time. There will always be people who need structure. And this is okay, as we are not all the same.
Does it bother me hearing folks bash resellers? It does sometimes. I even heard it while I was out sourcing last week.
Conversations at a thrift store:
Guy to his friend: “Dude, what to you think of this vintage band tee?”
Friend: “Looks too old”
Guy: “Yeah. Maybe I should get it to sell on Poshmark.”
Friend: “What’s that?”
Guy: “You don’t know? It’s a place like a thrift store but online where these dumb-a** resellers rob people.”
Friend: “Really? Like people don’t just come here to shop?”
Guy: “Nah. There are a group of people who shop thrift stores for vintage stuff like this tee and turn around and sell it five times what they bought it for. It’s awful!”
I was standing right next to them during the conversation and doing just as he said. Embarrassed? Shamed? Nope! Not even a bit.
There are so many people who hate to treasure hunt, dig , shop, etc. People like convenience and resellers provide a service to them. People are buying more then a used vintage tee for $35-$85. They are paying for someone to find them something that perhaps they have been wanting and have it delivered to their front door, clean, pressed, and wrapped with a bow like a birthday gift. Oftentimes it’s nostalgic for the buyer. I get so much feedback from people writing me personal thank you for finding an item that they once had long ago. Or people who just like all the frills and detail that I put into the wrapping.
I could have explained this to the guys. But they may not have got it. so be it!
Speaking g of services…Let’s Think Ubur eats, door dash, post mates, and all the other newer companies that provide a service.
People are really upset about all of the above.
I can see both sides of the story. But either way, bragging online, whether ticktock, Facebook, or the alike, is rather icky, and will always get you noticed in a negative light in my opinion.
People are upset that people, who they do not think are deserving of their wealth are profiting, and living their best life. While they are punching a time clock to a dead end job that they hate.
Alas’ Dead end jobs have their place. They always will.
A lot of people are not good at managing their time and need to be told what to do, how to do it, and when to do it. And there is nothing wrong with this.
These folks punch a clock five or six days a week, and then they get to chill and enjoy their days off how they see fit. Maybe they will get called into work, and they also have that option. The choice is theirs.
I have kids on both sides of the fence, where my husband and I are for the most part, self employed.
Being self employed is working 24/7. It’s not easy- peasie like these seven figure young people making videos are claiming. Maybe they have had parents front them funds, or an inheritance to invest in that instantly put them to where they are now, at 22, 23 years of age. If so, Great! More power to them. Why does it bother people do much. We work with the cards we have been dealt in life. This is life! If you don’t like it, be the one to change it.
We simply do not know peoples back stories entirely, as they are only sharing how they are making millions in their sleep and traveling the world, and you can too!
That all shared,
Here are some negative sides of passive income.
You work around the clock.
You have to be self motivated.
You have to have multiple streams of income and always be adding more in the event that one area goes South.
You have to be fine working alone.
You have to know that there will be highs and lows.
People will not like you for whatever reason. But mainly because you are marching to another beat. You are not a traditional person who chose college and a “career”
More times then not, people will never take what you do seriously and think whatever your self employed job is, that it’s not a real job because you have no one signing your paycheck.
I can go on, but let’s talk about the positives.
You are your own boss. Some people, like myself, do not play well with others. Not a team player and do not like being told what to do it when to do it.
You are an entrepreneur.
You can choose to take a trip anytime you please. Proving you have funds to do so. You generally do!
Depending on how hard you work, you will reap the profits. You are a go with the flow type of person and do not mind changing strategies at the drop of a hat and improving what you do. You simply don’t mind working around the clock because you love what you do and are passionate.
You have no need to complain because you chose your own path. The path that brings you happiness and fulfillment. 🙂