What I have been up to

Hi everybody,

An update is warranted, as I have not updated this blog on a regular basis.

Basically, I have been busy working. Found a new job starting the beginning of this year, and so far they have had me travel to three different states – in the first month! While it is grueling, I actually like it very much.

So, between a full-time job, retaining a part-time client, my Toastmasters club (of which I am an officer), and putting some time into having at least some personal life, this has been on the back burner.

However…I HAVE been focusing greatly on completing this project: being able to live passive income financially free. And I do have my months budgeted out, every item rounded to the nearest $5. I still have to live, so I’m not going Ramen noodles. But, every month I AM making progress.

So, for this reasons, I do plan to continue this blog. And while updates might only be 1-3 per month… come back on a regular basis, to see how I am doing and to learn from the example that YES this is possible!

Until next time,
Jason

Comments (2)

FelipeMarch 9th, 2012 at 1:46 am

I always took the term ‘passive income’ to refer to an income stream that works by itself once it has been set-up the recipient doesn’t have to do anything to maintain it. Investment is one possible example. Another might be a book, you do all the work upfront in authoring a book, and then it practically manages itself once it is published. Or, that is the (broken) theory at least.I agree that it is a myth, because you have to actively and continually promote your book (your self) and you have to actively manage your investments. If you don’t do those things then the income really is iavspse, and its health probably does decline over time.I’m reminded of Alec Baldwin’s character, Larry Quinn, in the film Cat in the Hat’.The question that springs to my mind is this. What if someone is using the metaphor as jargon, and they mean something different?

JasonMarch 9th, 2012 at 2:29 am

Hi Filipe,
Thanks for weighing in! Yes, I agree, there is nothing truly ‘passive.’ It used to be a given that U.S. treasuries would pay out no matter what, but now that U.S. treasuries have been downgraded from AAA credit rating, that is no longer a certainty.

I do think that some kind of residual monitoring will be necessary for any kind of investment, be it real estate rental, annuity, stock dividends and yes book royalties.

To answer your question… lots of people are using the metaphor as jargon. Just google “passive income” and 7 of the top 10 results promote a product teaching internet marketing. While this is a good skill to learn (and admittedly one that I need to learn…), it is not passive income. A lot of work is required, and ‘a lot of work’ ain’t passive!

I wrote a blog post specifically about this: feel free to check it out:
http://www.livingafreelife.com/internet-marketing-is-not-passive-income/

Thanks again for posting, and enjoy the site!
Jason

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