There is often a lot of confusion around the term passive income?
In this video, I go over what it is. What it’s NOT. And how to get started no matter where you are in your financial journey.
Video Highlights:
What is Passive Income, Really?
There is often a lot of confusion around the term passive income?
In this video, I go over what it is. What it’s NOT. And how to get started no matter where you are in your financial journey.
Video Highlights:
well stated. i’m envious of presentation skills and good diction. i talk and it sounds like i have half a dozen marbles in my mouth.
I think a dozen marbles in the mouth was how Eliza Doolittle perfected her diction. In that case, you’re halfway there. “The rain in Spain stays mainly in the plain.”
Great video! Even if I did get distracted by feelings of “I want to go back to Yosemite NOW!” part way through. We have some passive income, but need to figure out how we want to go about increasing it. Currently it meets about 10% of our expenses per month and I’m trying to double that…
Going from 10% to 20% is a great goal! I love it!
Thought about Airbnb – but first I need to convince Mr. Dragonfly (who is chronically, almost, paranoid) that it is a safe venture.
I am looking at other options – thanks for sharing some of the tips mentioned here.
It can be a little scary at first! We are considering Airbnbing our camper next summer which is a much easier starting point.
Nice video. This is the first of your videos that I’ve watched and it’s cool to put a voice to you. Beautiful scenery too! BTW, the new theme on your site looks really nice! I sort of miss seeing your most recent post on the home page though.
I’m going to try to keep adding more videos. There are some people who just really don’t read blogs. =) If you click on the “blog” page but don’t select on a topic it will just show the new ones in order.
Really enjoyed the different medium of conveying the information. Sometimes the challenge lies in getting over the fear of the risk involved in some ventures that provide that passive income, especially when one has been poor most of one’s life. I know you have mentioned growing up poor, was this an issue for you and if so, what helped over come it?
I like videos too! Although I don’t always love videos of me. :/ I’m trying to get over that.
And I could/maybe should write a dozen posts about poverty and building wealth. Part of the reason I haven’t is that there are about 7 very distinct kinds of poverty. And each group brings very different strengths and challenges to the table. Because the challenges are so different, the solutions are also very different. I’ve personally worked with most types of poverty, but it’s not an easy topic to fit into one 800 word post. I think most of the confusion and argument about what people in poverty need or what is effective is based on the fact that the groups are so different.
I see a series posting in your future! 😉 as someone who grew up waivering between poverty and low middle class, I love your blog, in general, as a fixture in how 1. You overcame your circumstances and 2. You made it to your own version of FIRE on modest means for a big family!
I went the traditional route – fear of becoming my parents was my motivating shoulder chip for years. Got a few degrees, successful career, had to start from almost scratch in 2014 when the ex left, but am on the way toward FIRE with a wonderful partner. (Did some therapy to deal with the rest of the childhood trauma that had clearly navigated me to an NPD husband the first go ‘round).
Hey, Jillian. Thanks for the definition of passive income. I kind of knew what it was, but I would have had a hard time articulating it. Now I can. Passive income is income you don’t have to trade time for. Love the way your mind works. And I love the new look of your website. Bravo.
Thanks! The website design was a long time coming. After our long trip, I was ready to tackle it! =)
I love all the different “types” of passive income you described. Really puts “time freedom” in perspective. This is especially important for a mama like me who would prefer to share more time with my children, and less with an employer. I also think your seasons of life fit nicely into the different passive income types. There are matches to make every season feel like FREE!! Beautiful new site!!
Thanks! Matching the season of life with types of passive income is such a smart way to do it. =)
I love love love this expanded definition of passive income. I have a side gig that brings in $250 for maybe 15 minutes of work a month for 11 months out of the year. (The 12th month I work about 4 hours). I’ve tied it to my charitable giving, so that those payments are always taken care of. I also love that in dire straits it could cover my student loan payments. Looking forward to more!
That’s awesome. What a great start.