Wow $1,000 a day working from home copy
and pasting for 10 minutes a day I had
no idea that you could do this how's it
going guys I hope you're having a great
day so far so in this video here we're
gonna be covering three of the biggest
passive income myths out there in case
you guys haven't noticed there's a lot
of bullshit out there when it comes to
earning passive income making money
online one of my goals is to be as
transparent as possible with you guys on
this channel and give you realistic
expectations about making passive income
and kind of help you understand when you
are maybe being led down the wrong path
with earning passive income and getting
taken advantage of so that's kind of
what we're going to cover in this video
here are what I believe to be the three
biggest myths surrounding earning
passive income now if you guys are
interested in learning more about
passive income i'm hosting my first ever
masterclass that's going to be in Dallas
Texas on October 13th we have just 50
tickets available for this event last
time I checked we're about halfway sold
out and we are offering one-on-one
coaching sessions as well we only have
one of those left so if you guys are
interested in that make sure you grab a
ticket before they sell out and that one
coaching session that is left that's
going to go in the next couple of days
but I would love to see you guys there
love to meet you guys in person
and teach you guys the back side of my
business and how I'm making money online
so the details for that are down in the
description below and if you guys live
nowhere near Dallas Texas but you want
to be notified of other passive income
masterclass events I'm going to be
having click on the other link down
there where you can join the email list
it's going to be an email list just for
passive income masterclass events you're
not going to receive any other marketing
emails it's just going to notify you
guys of other cities and other locations
we are hosting this event so all of
those details are down in the
description below okay so the first myth
about passive income is the fact that
it's either passive or active there's no
such thing as income that's in between
you either make passive income or you
make active income every single passive
income
I've seen on YouTube gets these comments
where people are saying that's not
passive income you're in lying to people
you're wrong you are not making passive
income I consider a lot of what I do to
be passive income I think YouTube videos
are relatively passive and a lot of
people disagree with me on that because
they say I need to continue to make
videos in order to make money and you
know what you are completely right about
that
but the thing you have to understand is
that there are some businesses that are
more passive than others and some that
are more active and a YouTube channel is
more on the active side so the only true
way that I know of earning passive
income is by investing your money one of
example of this is dividends dividends
are 100% passive income I know that if I
invest my money in a dividend fund that
I can earn about 3 percent per year
every single year without doing a thing
all I have to do is report that dividend
income when I pay my taxes other than
that I make money in a 100 percent
passive way beyond that what I believe
to be the second most passive income is
affiliate marketing affiliate marketing
is very passive that could be a blog
that could be as simple as reviewing
products on YouTube there are so many
ways to make affiliate income and this
is a very passive way of earning money
but what I will say is that let's say
you do make a review article on your
blog or a review video on YouTube how
many years is that piece of content
going to be relevant I would say
typically there's a three year shelf
life on any piece of content on the
Internet
so if you do a video reviewing a certain
pair of headphones maybe for the next
one to two or three years it's going to
continue to get views people are gonna
click on the link they're gonna buy that
product but down the road somebody else
is going to make a new review or they're
gonna make a new version of those
headphones and your review is going to
get buried in the search results and
you're not going to be making much money
from that so it is pretty passive but
you're gonna have to continue to update
your reviews and you know add more
reviews down the road for your affiliate
blog or whatever it is you're making
affiliate
emissions from but I believe that is one
of the most passive methods of earning
income online beyond that how about an
online course I've talked about that
before on this channel how online
courses can be passive income but
there's a couple things we have to
mention here first of all making a
course is extremely active it takes you
probably weeks if not a couple of months
to put together a good online course
second of all there's probably a one to
two year shelf-life on that course if
you buy an online course and then you
realize that this person made that
course five years ago you're going to
feel like you're getting ripped off
because that information is dated and so
you're gonna have to continue to update
or redo your course maybe every one to
two years to make sure information is
relevant and then there's another piece
to this as well that people don't
usually talk about but there's a lot of
administrative tasks involved with
having an online course your students
are going to be emailing you because
they forgot their password they're gonna
email you because they're gonna have
questions for you if you have a Facebook
group you're gonna be answering
questions for people you are going to
get some people that are unhappy and
they're gonna want a refund and if
you're selling an online course you're
gonna have to be expecting these emails
on a regular basis and that is active
income right there when you have to be
answering emails responding to questions
helping people reset their passwords
that is going to be a relatively active
thing that you are doing there and
unless you're going to outsource that to
somebody else this is going to be
something you're gonna have to do on a
regular basis meaning you're working for
the money that you are earning and then
beyond that a YouTube channel or a blog
that's kind of passive you do make money
from your past efforts your past blogs
or your past YouTube videos that are
continuing to get views but if you stop
putting out content on a regular basis
that's going to dry up your audience is
going to go away and your videos and
blog articles are no longer going to get
seen Google really pays attention to
people who are regularly contributing to
platforms whether it's a blog or a
YouTube channel and they're going to
give you more traffic if you are
consistent and regularly uploading to
that platform but that is a myth that
people believe that it's either passive
or active it is just not true
our different businesses out there some
are more passive than others and if
you're not a fan of your business and
you want something that's more passive
then do a different business or at least
have an idea before you get started of
how passive this business actually is
but don't hate on other people who are
talking about passive income and sit
there in the comment section saying you
know a YouTube channel is not passive
income if somebody loves making YouTube
videos it's pretty damn passive because
they enjoy what they're doing
okay the second passive income myth out
there is that somebody has a secret
someone has a secret method they're
gonna share with you or a secret to
earning passive income that's gonna be
the light bulb in the head moment and
then all of a sudden you're going to be
making a thousand dollars a day online
doing nothing there is nothing you're
going to find out there that is going to
be a secret there are no secrets about
earning passive income all there are is
strategies so for example let's take my
passive income masterclass you could
argue that I'm trying to sell people the
secrets to earning passive income and
I'm gonna flat-out tell you guys right
now
there are no secrets about passive
income there are just strategies so if
somebody is looking to follow the same
strategy that I am of making YouTube
videos or my blog where I earn passive
income or my Instagram account where I
earn passive income if they're looking
to mimic or replicate one of my
strategies then it would be worthwhile
to learn the mistakes that I made and
what I've learned by doing this for the
last two years but there are no secrets
to doing this there are no secrets to
earning passive income there are just
strategies involved and a lot of hard
work so there are people out there that
can teach you passive income strategies
but do not buy into this gimmick that
you're going to find a secret method of
earning passive income or some secret
about whatever it is you are trying to
do to earn passive income in fact if you
spend about an hour online researching
ideas to make passive income you
probably have discovered 90% of the
ideas out there so stop searching for a
new idea to earn passive income find
something that's going to work for you
give it a shot and stick to it
but do not keep searching for the secret
and do not buy into this
marketing gimmick that somebody knows
something about a method of earning
passive income that nobody else knows it
just does not exist there are no secrets
with earning passive income and then the
third myth I hear about passive income
is that active income will always be
active income there's a lot of haters
out there that are gonna hate on people
who are earning active income so for
somebody who's maybe trying to build
passive income if your friend is out
there painting houses or mowing lawns or
power washing houses you might look at
your friend and saying you know what
you're an idiot because you're earning
active income and you're always going to
work for every dollar you earn that is
not true and active income source can
become passive and I'm going to give you
guys an example of that right now
so let's say you have a lawn mowing
business you you mow lawns and you get
paid $20 per hour based on let's say you
mow two or three lawns a day the hours
that you're working you're averaging $20
per hour that right there is active
income you're working for every dollar
you earn but let's say down the road you
save up enough money you have more
customers and you hire an employee and
you pay that employee $12 per hour
however you're able to make $20 per hour
by having that employee work for you so
for every hour that he works you're
making $8 per hour in passive income so
now you have the active income when
you're out there mowing that lawn for
$20 per hour but you're also making $8
every single hour that your employee is
working fast forward a couple years
let's say down the road you have a very
large landscaping business you have ten
employees and you know that you're
making about $8 per hour that your
employees are working and you just step
back and you manage that business that
income is relatively passive yes you do
have to manage that business and take
care of your employees and worry about
them calling it sick and you know do
quality control for their work but
you're making $8 per hour off the back
of somebody else's labor and that is how
active income tend become passive
whether it's lawn mowing whether it's
having a barber shop whether it's power
washing houses you can take an active
income source and make it passive by
hiring other people but
anyways guys those are the three biggest
myths I hear about passive income let me
know what you guys think down in the
comment section below do you agree with
me or do you completely disagree I would
love to hear what you guys think and
then like I said guys passive income
masterclass in Dallas October 13th I
would love to see you guys there I have
a link down below where you guys can
grab a ticket or if you want to be
notified of other future passive income
masterclass events drop your email and
you guys will be notified of only the
events there will be no other marketing
emails being sent but anyways guys thank
you so much for watching this video I
hope you enjoyed it and I will see you
in the next one
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