Making money while you sleep. Doesn’t that have a beautiful ring to it? I mean, who wouldn’t want to be making some extra money while playing with the kids or while watching a game?
The only problem is that most passive income ideas that you’ll come across are not really passive at all. Since you’re already busy with your everyday life, you won’t want to pick up a 2nd job that you don’t have time for.
Most passive income ideas require you to put in a LOT of work. And doesn’t that kind of wipe out the “passive” in passive income?
The truth is, to generate passive income, you need to invest in an asset that produces passive income for you. Unless you’re making money the old-fashioned way (i.e. inheriting it), or you are willing to put in some effort.
Here’s an article that was recently published on Debt.com, that I had the opportunity to contribute to. Read below for some financial expert opinions on how to respond to money criticism.
This post first appeared on Debt.com and has been republished with permission.
28 Experts Answer: How Were You Criticized for Managing your Money?
Naysayers are everywhere. When you’ve got a solid financial plan and stick to it, often friends and family will lose their minds and tell you that you’re doing it all wrong. It’s important to stick to your guns in these cases and follow the plan that you know will lead you toward debt freedom and financial independence. At the same time, some criticism may be constructive, so it’s important to be open so you can receive valuable advice.
We spoke with 28 financial experts and asked them a simple question:How were you criticized for managing your money, and what did you do to deal with it?
I’m sitting here on the beach, writing a blog post.
Well, technically not on the beach — But we’re pretty darn close.
I can hear the waves crashing right outside the window where I’m sitting. And I can see the surf breaking, all white-capped and angry, in a hypnotic swirl of repetition.
It’s my family’s annual beach vacation. And right now, it’s raining in the Outer Banks. But from my current perspective, that is totally okay. Because I’m away from work, surrounded by almost all who matter most to me, and am able to relax for a few days.
And I’m writing a blog post.
Why, might you ask, am I blogging while on vacation??