Comments on: My Favorite Way to Make Money http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/ Personal Growth and Effectiveness Sat, 11 Feb 2012 15:30:30 +0000 hourly 1 By: jezz http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-175511 jezz Sun, 24 Jan 2010 17:32:12 +0000 http://www.lifeoptimizer.org/?p=1737#comment-175511 without knowing wot passive scheme you have it is impossible to weight up the benefits without knowing wot passive scheme you have it is impossible to weight up the benefits

]]> By: chris http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-162357 chris Tue, 27 Oct 2009 08:53:35 +0000 http://www.lifeoptimizer.org/?p=1737#comment-162357 Great stuff, can someone teach these to the young gratuates.I believe since they have the benefit of time on their side and haven't earned their first paycheck yet;This is a lesson they need to learn early before they are overtaken by lifes burdens. chris isom Great stuff, can someone teach these to the young gratuates.I believe since they have the benefit of time on their side and haven’t earned their first paycheck yet;This is a lesson they need to learn early before they are overtaken by lifes burdens.

chris isom

]]> By: craig http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-162110 craig Sun, 25 Oct 2009 21:37:41 +0000 http://www.lifeoptimizer.org/?p=1737#comment-162110 Thanks for such an interesting article Thanks for such an interesting article

]]> By: Kim - self improvement and motivation http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-161559 Kim - self improvement and motivation Tue, 20 Oct 2009 20:56:34 +0000 http://www.lifeoptimizer.org/?p=1737#comment-161559 I think most people do not understand how difficult it is to make a passive income, especially online. However, i think your attitude and willingness to stick with it can go a long way. It amazes me when I see the many 'get rich scheme' on the Internet, especially since people fall for them. Anyway, i think building a passive income is a great idea. It can be a safety net that can possibly be built into more. I think most people do not understand how difficult it is to make a passive income, especially online. However, i think your attitude and willingness to stick with it can go a long way.

It amazes me when I see the many ‘get rich scheme’ on the Internet, especially since people fall for them.

Anyway, i think building a passive income is a great idea. It can be a safety net that can possibly be built into more.

]]> By: Steve http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-160609 Steve Mon, 12 Oct 2009 01:42:26 +0000 http://www.lifeoptimizer.org/?p=1737#comment-160609 I would add a couple of caveats to this. I think it's so important to emphasize that the road to passive income is long and difficult, as you said. If people don't realize how actively they will need to work, they will quit long before the income becomes passive. Second, you need to plan to have a solid understanding of money and spending/saving/giving before trying to generate passive income. In my eagerness to generate passive income, I have too often neglected this one and ended up in debt. Finally, I would call it active-passive income to emphasize point #1. Having said all that, however, a true understanding of passive income will have you putting all of the above into practice. :) I would add a couple of caveats to this. I think it’s so important to emphasize that the road to passive income is long and difficult, as you said. If people don’t realize how actively they will need to work, they will quit long before the income becomes passive. Second, you need to plan to have a solid understanding of money and spending/saving/giving before trying to generate passive income. In my eagerness to generate passive income, I have too often neglected this one and ended up in debt. Finally, I would call it active-passive income to emphasize point #1.

Having said all that, however, a true understanding of passive income will have you putting all of the above into practice. :)

]]> By: Donald Latumahina http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-160570 Donald Latumahina Sun, 11 Oct 2009 12:43:09 +0000 http://www.lifeoptimizer.org/?p=1737#comment-160570 Mauiwalt, Interesting take :) Mauiwalt,
Interesting take :)

]]> By: mauiwalt http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-160454 mauiwalt Sat, 10 Oct 2009 05:43:43 +0000 http://www.lifeoptimizer.org/?p=1737#comment-160454 Passive income is easy if you are in an elected office. Here how it works. You get elected to congress or city hall then you write or rather a ghost writer writes a book and you put your name on it and a price of $32. Then lobbyists or developers buy your book by the thousands and you get a nice check for a million or more dollars. No work. True passive income. There are no ends to this as one can have many ghost writers popping out books and the pockets of lobbyists both foreign and domestic are deep. Passive income is easy if you are in an elected office. Here how it works. You get elected to congress or city hall then you write or rather a ghost writer writes a book and you put your name on it and a price of $32.
Then lobbyists or developers buy your book by the thousands and you get a nice check for a million or more dollars. No work. True passive income. There are no ends to this as one can have many ghost writers popping out books and the pockets of lobbyists both foreign and domestic are deep.

]]> By: Donald Latumahina http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-160333 Donald Latumahina Fri, 09 Oct 2009 06:07:16 +0000 http://www.lifeoptimizer.org/?p=1737#comment-160333 John, I agree that it's not easy to earn passive income online. The possibility is still there though (and there are always offline options). In my case, I don't earn much by U.S. standard but I already earn enough by the standard of where I live. I think that's an advantage of living in a country where the living costs are relatively low. Regarding the number of hours to work, I can actually spend zero hour a week if I want to, but I do choose to keep improving and experimenting with new ideas. John,
I agree that it’s not easy to earn passive income online. The possibility is still there though (and there are always offline options).
In my case, I don’t earn much by U.S. standard but I already earn enough by the standard of where I live. I think that’s an advantage of living in a country where the living costs are relatively low. Regarding the number of hours to work, I can actually spend zero hour a week if I want to, but I do choose to keep improving and experimenting with new ideas.

]]> By: John Bardos - JetSetCitizen http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-160329 John Bardos - JetSetCitizen Fri, 09 Oct 2009 05:14:36 +0000 http://www.lifeoptimizer.org/?p=1737#comment-160329 Online passive income seems to be illusive with the increasing amounts of competition in every niche. Everybody I have talked to or interviewed seems to be working 20 or 30 hours a week for a pretty small amount of money. I agree with Faramarz, that no income is truly passive. Donald, It would be great if you could share some details about how much you earn and the number of hours a week to work. :-) Online passive income seems to be illusive with the increasing amounts of competition in every niche. Everybody I have talked to or interviewed seems to be working 20 or 30 hours a week for a pretty small amount of money.

I agree with Faramarz, that no income is truly passive.

Donald, It would be great if you could share some details about how much you earn and the number of hours a week to work. :-)

]]> By: Donald Latumahina http://www.lifeoptimizer.org/2009/10/06/my-favorite-way-to-make-money/comment-page-1/#comment-160311 Donald Latumahina Fri, 09 Oct 2009 01:44:41 +0000 http://www.lifeoptimizer.org/?p=1737#comment-160311 Menandro, Thanks for sharing your thoughts on the steps! Faramarz, Yes, most of them aren't truly passive. But they still give us high degree of freedom. Shane, What about book royalties? I don't think you need to do anything to maintain that. In some cases, a book still generates income years after the author's death (How to Win Friends and Influence People comes to mind). I love your thoughts on scalability, by the way. Claus, That's the nice thing about passive income. After the initial work is done, it becomes mostly automated. Menandro,
Thanks for sharing your thoughts on the steps!

Faramarz,
Yes, most of them aren’t truly passive. But they still give us high degree of freedom.

Shane,
What about book royalties? I don’t think you need to do anything to maintain that. In some cases, a book still generates income years after the author’s death (How to Win Friends and Influence People comes to mind). I love your thoughts on scalability, by the way.

Claus,
That’s the nice thing about passive income. After the initial work is done, it becomes mostly automated.

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