Hello, my dudes! My name is Tiffany, welcome back
to my series, Internet Analysis, where I like to research and discuss things relevant to social
issues and media. Today's topic is: the cult of passive income. And no, this is not literally
about a cult, but you know what I mean. Lately, my TikTok, YouTube, and Instagram have been
flooded with these self-made entrepreneurs posting their tips on how to make money, be
your own boss, and become financially free. In this space online, we've seen the promotion of
side hustles for a long time, but now I think the passive income ploys are the new thing — well
they're not new, they've been around for a long time, but in this moment, pretty popular.
Instead of one, or maybe two measly paychecks, don't you want a dozen or more passive streams of
income? Do you want to make money while you sleep? To begin, why are passive income ideas so popular
right now? I don't think this will be news to any of you, but people right now are working shitty
jobs for low wages — wages that are not keeping up with inflation or the cost of living.
I
asked my Patrons about this topic and one said, "you can't possibly work enough
hours to make up the difference, so this dream of passive income is the only
hope." We also have an absolute lack of security, long or short term; you could be fired,
let go, replaced from your job at any time. The cost of housing is very high. Many people
have given up on the dream of ever owning a home. Student debt is a massive crisis,
as is medical debt – here in the US, especially! For many, the likelihood of ever
being able to retire, let alone comfortably, seems near impossible. Bottom line, we do not have
a strong social safety net in the United States, so we feel like we have to save, work, hustle, in
order to secure our own futures. Nobody is going to help us do that; our government's not gonna!
So, you put all these factors and others together, you've got a recipe for desperation.
People
just want solutions, we want to be able to hope for a better future. Whether you are
deeply in debt, broke, middle class, or rich, the idea of passive income is universally
appealing; it's minimum input for maximum output. So first, I want to start by touching on MLMs. A
lot of the passive income ideas that we're going to talk about in this video sound a little MLM-y
to me, which I'm sure I will continue mentioning throughout this video.
So for those who don't
know, MLM stands for 'Multi-Level Marketing', also known as network marketing, or
dozens of other euphemisms. Basically, the typical MLM pitch goes like this: "Hey you,
do you need more money? Do you hate your job? Are you unemployed? You can join this company,
be your own boss! Sell these wonderful products that are so good, they're not even sold
in stores, you have to buy them through network marketers like me! And also, you can
recruit people below you to be on your team, so they'll sell more things, recruit more
people, and put more money in your pocket." MLMs are promoted as a low effort,
easy way to make unlimited money.
"You can work from your couch or on the
beach! I've made like $20,000 this month, just by using Instagram and messaging
some of my friends! I swear, it's true!" I love that one minute they're telling you this
job is effortless, it's so easy! … and the next, they're ranting about how hard they work.
"It's not easy, not everyone can do this!" Interesting… I made a video
about MLMs a few years back, and there is an entire anti-MLM community
online, if you're interested in hearing more.
Anyway, if you were near the top of a
pyramid-shaped team, with lots of people in your downline: yes, you would be receiving more or less
passive income. It may seem pretty passive to you, but this system requires the exploitation of
lots of people beneath you, and unless you're at the very tippy-top of an MLM company, guess
what, you are also being exploited! Like 99% of MLM consultants do not make money, many
actually lose money in this, so don't do it. And that's what brings me to my point: Many
of these passive income ideas or side hustles are predatory. They prey on people who are
struggling, vulnerable, looking for a miracle. "Here are my tips for making passive
income. You don't have to do much work, and you can make up to $50,000
in a day.
Watch for part two!" But despite the messaging that emphasizes
how easy and passive this is, the reality is that trying to pursue passive income
actually requires a lot of time, energy, and often involves startup costs or investments.
So, for the average working class person who is exhausted, broke, and overworked already,
this is not very feasible. In this video, I'm going to cover some of the most popular,
most recommended passive income ideas promoted on social media, and try to figure
out, is any of this worth the effort, or is all of this just a repackaged version of the
classic, hustle culture, get rich quick scheme? Before we continue, this portion of
today's video is sponsored by Skillshare. As you may know, Skillshare is an online learning
community with thousands of high-quality, valuable classes. Whether you
want to learn something practical, maybe improve a skill for work, or something just
for fun, there are endless options to choose from. In the spirit of this video, I wanted to
pick some classes that are relevant to my non-monetized hobbies.
First is "creative writing
for all, a 10 day journaling challenge." I haven't journaled very much in recent years but it is
very important to me. I really love processing my thoughts and feelings through journaling, and
also documenting all of that for my future self. And my next choice, "plants at home: uplift your
spirit & your space." As many of you can relate, I'm sure, I really find taking care of my plants
to be a very relaxing and satisfying activity. I have improved a lot in terms of my knowledge
and my ability to care for my plants, but of course there's always more to learn! And I
would like to get ahead of any potential problems, before I'm at the point where I need to google
how to fix them.
So this is going to be great! On this channel we love learning! So if
there's anything you would like to learn or would like to get inspired about: the
first 1000 of my subscribers to click the link in the description will get a one month
free trial of Skillshare, so you can start exploring your creativity today. Thank
you Skillshare, now back into the video. Step one, become a content creator. Almost
every passive income video I've seen recommends: start a blog, start a YouTube channel, become
a content creator; and this makes sense, because many of the ideas involve marketing or
selling things, which are obviously a lot easier if you have a pre-existing audience. And of
course, because we're watching this content on social media, the successful people telling
us these ideas are themselves influencers and content creators.
They've already done the hard
part of getting a following, now they can tell you what else to do. I found this video by Ali
Abdaal, 9 Passive Income Ideas – How I Make $27k Per Week. First of all, oh my god, at that
amount of money… His channel covers a lot of these topics: how to be productive, how to
work efficiently, how to earn extra money… "Alright, so when I say "passive income," I
always air-quote it, because there is really no such thing as passive income, there is no way
to make money without doing anything at all…" Okay, at least he mentions that first thing. "But when I say passive income, what I mean is that it's money that
is not directly tied to our time." I appreciate that explanation, because I
think it is honest and straightforward. Passive income is all about spending an
initial amount of time to work on something, then continuously earning
revenue from that over time.
"So, let's say you were to write a book; if you
write a book, you publish a book, and that book is now in bookshelves. You've done the work
kind of once, to write and publish the book, but now anytime the book sells, you
make money from royalties – that is passive income. You could literally
be making money while you sleep, because you've created this thing which is out in
the world, which is generating income for you." So, let's talk about YouTube as a passive income
stream.
If I, right now, were to take a month off of making videos, I would be passively
earning income from work that I already did a long time ago. But again, the process of
building a YouTube channel up to the point where it can be monetized, making lots of
high quality videos and gaining an audience, that is definitely not passive. Really, you're
going to be making a lot of videos for free, for potentially years, before you even start
earning pennies. This whole idea of using YouTube as a passive income source is also
heavily reliant on the almighty algorithm. As I've seen with my small channel shout-outs,
there are so many great channels out there making really great content, that have not been
picked up by the algorithm yet. Even if you are consistently making really good videos, it can
still be extremely difficult to bring in viewers. And I don't say this to discourage
anyone from pursuing youtube — just, if you're *only* looking at
this as a way to make money, best of luck.
BUT if it is a hobby, if
making videos is something you enjoy, it is worth the effort. and it is possible that
you could earn some income from it eventually. Anyway, the next tip that comes along
with starting a blog or a YouTube channel is affiliate marketing. Some people claim to earn
hundreds or even thousands of dollars per month just through sharing affiliate links. I do think
this is a really nice revenue source for creators, because often our audiences ask
us where certain things are from. If a content creator is influencing
a consumer to buy something, I think they do deserve a cut of that sale; and
this doesn't just apply to like, Instagrammers or YouTubers — anyone who is creating content.
but this strategy can definitely go sour.
For example, instead of just making
good content that you want to make, that's valuable to the viewers, maybe
linking your shirt, or the camera you used; some content is created just for the purpose
of sharing affiliate links. Have you ever read a blog post that was clearly just a ton
of keywords thrown in for SEO, and then the promotion of an ad or some affiliate link?
Even worse, I found this TikTok, for example: "best side hustle, if you have no money and no
experience. google affiliate programs for your topic. all these companies pay you a commission
to promote their products.
Now go to youtube and search related videos. download some of
these videos and… create a tiktok account like this one. upload the videos you found
and place your affiliate link in the bio." Totally! Gain an audience by reposting other
people's content, and then just direct your audience toward your affiliate links. Honestly,
this brings up the ethics of monetizing meme pages, but that's another topic for another time.
Regardless, for most people, you probably won't earn a lot of money from affiliate income, unless
you're promoting a lot of links for very in-demand products. It can take a lot of effort to
create all that initial content, whether it's blog posts or videos, but I guess once that
is done, the affiliate income is pretty passive. Let's get into classic side hustle or
passive income grinds. Classic side hustles can provide extra income. join the gig
economy, become a driver or a delivery worker. Many people do this as a full-time gig or
to make ends meet, but side hustles like these are obviously limited by the number
of hours you can spare in order to work. Even with a nine-to-five job and
a side hustle on the weekends, it can still be hard to survive.
So again, the
appeal of passive income comes from the promise of less work, less hours, and the potential
for making more money, even while you sleep. To quickly go through some other passive income
hustle ideas that I've seen on a lot of these videos, one popular idea is to sell digital
art like merch, lightroom presets, templates, phone backgrounds, many possibilities! One of
my Patrons said, like someone who sells knitting patterns, or tattoo designs, or other creative
content they've already made two new customers, their profit directly comes from their labor and
the value they provide. And I think this is great! It's hard enough for artists to find ways to get
paid; you put in the work to design something, upload it, then it could, in theory, have
potentially unlimited sales; you can continue earning income from the same piece of work for a
long time.
However, from looking at some of these TikToks, some of these do feel pretty gimmicky to
me. Like, "just shit out a bunch of designs and upload them to a bunch of merch sites!" which, you
know, people buy these things, so I guess, why not try? But anyway, after designing and uploading
your work, the hardest part is marketing your items. If you don't have an existing following,
or audience, or people to sell to, it might be difficult to get any sales at all, especially on
these sites that are flooded with competition. Then we also have the popular method of drop
shipping. Essentially, you buy wholesale products from sites like Alibaba and sell them online
without any physical inventory or handling of the products yourself. I did make a video
about Twitter ads, where I talked a lot about those weird products that are promoted under
viral tweets. Yeah, that's dropshipping.
Many dropshippers, of course, use social media like
Instagram or Facebook to promote their product, but the most popular platform is Amazon, of
course. Feels very low effort for a decently high reward. Honestly, I'm gonna say, because
I'm reminded of all those drop shipping videos I watched, so much about this makes me mad. The fact
that many of these people openly put in the least amount of effort as possible, they steal people's
work, they steal people's marketing materials, they just collect all this information
from different places, they're never interacting with the product.
They use things like
undisclosed Twitter ads to promote their products, and worst of all, many of these products,
because they're coming from sites like Alibaba, are extremely cheap and low quality. So then
people, after like six weeks of waiting, finally received this stupid item that like,
either doesn't work, or just isn't great. They probably wasted their money, and now they
have more trash, more waste! if you buy a poor quality product, it's likely to end up in
a landfill! And these dudes – mostly dudes, some women, enbies! drop shippers! these people
are making bank off of this, gleefully, and I- you know, is it perhaps my anti-capitalist
spirit that makes me feel like this is wrong? Somebody is gonna be like, you can do
whatever you want! Sure, you always can…
Continuing on, there is a surplus of investing
advice, including crypto, NFTs, forex trading, etc. These have been everywhere, they're in the
news, because yes, some people have gotten very, very rich off of them; but many,
many people have lost a lot of money, and I think often it is low income or poorer
people who are targeted with these strategies, especially for any new up-and-coming
crypto coins. Just like an MLM, "this is your chance to get in on
the ground floor – you're early!" Coffeezilla has made some really great videos
about these, and especially the influencers, who have done some extremely shady shit –
including, ALLEGEDLY: pump and dump schemes. I am personally not interested in crypto or NFT's.
On one hand, it's just too complicated, I do not care to learn.
On the other hand, I have learned
enough, I've heard from knowledgeable people about how harmful these things are, especially
environmentally – like, the mining of crypto, the ridiculousness of NFTs. It's just not for me.
And again, I'll probably get some smart investor in the comments telling me I'm an idiot and I'm
going to lose my chance at a bunch of money. Oh well! And then when it comes to forex trading–
again, complicated, not interested. But I have seen plenty of MLM-type figures promoting this,
claiming to teach people how to be forex traders; as soon as you're asking people
to join your team, absolutely not.
Then for more passive income investing
opportunities, we have micro investing platforms like Robinhood or Webull. and to
quote all personal finance content online, "This is not financial advice!" I
personally think individual stock picking is just too risky. I know some people find
it fun, but it's also extremely stressful to watch your stocks rise and fall; I personally
prefer contributing to my retirement account, putting some money in mutual funds – that's it.
The thing about individual stock picking is, you are probably not going to discover the next
Apple; so if people are telling you "This stock- you've got to invest, it's gonna blow up!"
That's just a major risk. If losing that amount of money is going to harm you, don't do
it. But if you have money you can afford to lose, I guess just think about it like gambling-
potentially burning money, for fun. Then we have the classic: real estate
investing.
I recently made a video about dystopian real estate content, and that
was what inspired this video – look at me, actually making the video I asked if you
guys wanted to see! Me, making a part two continuation? Rare! For that video, I watched
way too much content, especially on TikTok, about real estate investing, and it did melt my
brain. They all basically boiled down to either: 1. flipping – which in my opinion, sucks
majorly! Please stop doing these cheap, low-effort flips! 2. Wholesaling – I gotta be
honest, I still don't really understand this one. "Hey I wanna buy your
property for 90k." "Ok sure." "Thanks.
Hey I wanna sell you a property
for 120k that I have under contract." "Hmm, it looks like I can fix it up and sell
it for a good profit. Sure I'll buy it!" "Huh, so you're buying this property for 90k then
you're assigning it to him for 120k?" "Yep, it's called wholesaling. I'll be making
30k without risking any of my own money." All I know is that these guys love showing off
the big checks they get from this, from literally doing nothing but buying and then reselling
a property for a higher price. Love that. "watch me lowball a seller. I do wanna
just be straightforward with you about the 30,000 you're looking for, we
probably have to be in the $2500 range.
(pause) 'say what?'
That's too low? 'uh yeah.' "Guys, that house that I'm trying to buy,
is worth less than 30,000, fully remodeled. You guys think I'm lowballing, that's actually a
fair offer. It needs at least 15 – 20,000 in work, I'm offering 2 – $4500. How am I supposed to
make any money if I don't get it at that price? And I'm assigning it to a cash buyer, so where
am I really supposed to make any margin?" Again, the actual numbers don't matter.
This guy
is probably buying the property for let's say, $2500. He sells it to the cash buyer, they
buy it for maybe $10,000. so whatever, this kid is profiting at least thousands, probably
at least as much or more than the actual seller, just for wholesaling. Then of course the cash
buyer is going to do some cheap renovations, flip, and sell for their max profit.
So everyone
in this is making more money than the person originally selling this property. and the whole
crux of this wholesaling thing is that they go after run down properties. so most likely, these
sellers that they're targeting and preying on, are people who couldn't afford
to take care of their properties, or were struggling financially already, and
are going to accept these deals because they're desperate for some kind of cash flow. anyway,
all around it's icky. he said it himself, he said he was lowballing a seller.
Can you
imagine seeing that on tiktok? I'd be pissed. And 3. Buy a property, rent it out, and become a
landlord! As one of my Patrons pointed out: "Oh, being a landlord is passive income? So you agree,
you don't do any work?" I love that. But really though, all of these are so frustrating, because
people do really treat housing as something to play with, something to make bank off of,
rather than looking at it as an essential that everyone needs to survive. It's about you
making your passive income, and being a landlord, and doing the least amount possible.
Investing the
least amount of your money back into the property, because you want to maximize your profits.
So you end up fucking over your tenants, who are actually paying your mortgage. And also,
these real estate investing tips are told as if everyone has an equal opportunity to pursue them,
but you need capital in order to invest at all; you need a lot of capital in order to invest in
real estate. So really, lower income people tend to be exposed to more predatory, risky ideas, like
banking on the latest crypto-coin.
While richer people get to rely on more secure investments,
plus real estate, which is considered one of the safest investments. Rich people can afford
the long game of waiting for their investments to slowly ac- accrue value, is that the term? At a
point, if you have a massive portfolio of stocks, shares, real estate, it can add up to pretty
substantial passive revenue. You can automate and delegate any work involved, so you're receiving
most of the gains with very little effort. This is passive income, baby! And no
surprise, it works best for the rich. With that, I want to get into personal finance
influencers.
"I will teach you how to be rich like me! The financially free lifestyle…"
These creators often start to gain a following as they earn more money, which helps the cycle-
more viewers, more subscribers, more income, more videos about how much money they earn- and
how; and it just continues. I recently watched this video: The Growing Problem With Personal
Finance YouTuber Influencers, and I think it summarizes these points pretty well. A lot of
these influencers end up sharing their personal success stories, which reels in the audience.
They share their reactions to other personal finance things, they give some predictions about
where you should put your money, yada, yada… These aspiring mentors often hook their audience
by first showing off the wealth that they have. Look how successful I am, look how much
money I make, look how little I work! I started from the bottom, I'm just like you!
And then naturally the viewers are intrigued; maybe they do see a bit of themselves in
that creator.
They want that success too, they want that money! Easy money? And again,
this is very reminiscent of MLM stuff. It's the same messaging, you know? They hook
you by talking about how much capitalism is sucking all of our souls- which, true. Being
a worker is so hard, working so many hours, I'm tired, I'm not making enough money! But then,
you get into the allure of being an entrepreneur, being self-employed. Okay, that sounds good.
What can I do? I've definitely seen a crossover of real estate content and these exploitative,
self-help, 'dude bro' finance channels.
They pretend they're trying to help you and they want
to give you valuable advice, but they really want something from you. They target young audiences
and present an alternative to traditional paths, like going to college or getting a job.
Working for your money? Eww, like the poors? Instead, this content claims
to teach them how to attain 'financial freedom' and transcend the working
class, by becoming part of the owning class. "I always thought, the way to become rich, and
never worry about money again, was just get a good job. So I went to college, became a software
engineer, and three weeks into my first job, my entire perspective changed. They laid off
25 people. There were 50 year old men, walking out of their offices, crying because they had no
clue where they were going to get the money to pay their mortgage, or pay for their kids tuition,
because they have no other source of income!" You know, this guy has a point. it is really
horrible that this can happen to people, after a lifetime of hard work and dedication.
We really need a social safety net and you know, universal free public college would
also be great.
Medicare for all! "So that's when I started learning
about real estate investing." Oh no. you were almost there… When I watch this kind of content, I ask, what do
these creators get out of this? If you are indeed so rich, so successful, why are you spending
so much time making TikToks? Do you really want others to follow your tips, do what you did?
Do you want that extra competition? And no, of course they want a social media following,
because that's valuable. Much of this content is not actually informative;
when it's coming from grifters, it doesn't really teach you what you need to
know, it's just a teaser for what they're trying to sell you.
If you really want to learn,
you're going to have to buy their ebook, join their courses or coaching seminars. it's
a tale as old as time: rich guys telling you, "I can tell you how to do it, you can do it if you
just follow these quick and easy steps, and spend $5,000 on my course!" This YouTube comment
said it pretty well, "Starting to feel like the only way to make money is to make money
making videos about how to make money." Amen! Courses and coaching. these seem like the ultimate
way to answer the question of 'how did you do it', while also using your audience to earn a
buck or two.
Again, to me this ties back to something we see often in MLMs, the concept
of pyramid coaching. "I became rich as a coach, so I'll teach you how to become a coach and create
your own courses about getting rich." One of my favorite things about this type of content is that
it tries to strike the impossible balance between 'I am exceptional and aspirational', ala Rachel
Hollis, but also being relatable. 'I was just like you- if I could do it, anyone can!' Of course, you
need your audience to believe they can do it too, so that they'll buy your stuff and keep following
you, but you've also got to stroke your own ego a bit. I mean, you're so successful, how else
would people know? You've got to convince your audience that they need you as a mentor,
in order for them to become successful. And hold on, I just want to mention that
yes, of course, there are plenty of creators who do create really good courses, courses that
actually contain a lot of valuable information. There are, I'm sure, coaches who are genuinely
good at coaching.
I don't want to throw out the accusation that everyone who has a course, or an
ebook, or is a coach, is a scam artist; I don't want to say that. But I'm just saying, there
is this pattern, especially within the sphere of self help, personal finance, where we see
these creators doing a lot of the same things, and I'm sure some courses are more valuable than
others- and also, probably more cost-effective. Let's talk about F.I.R.E. Now, what is the
ultimate goal of having all of these streams of passive income? To live the dream of financial
independence, retire early, aka, F.I.R.E.
It's basically a lifestyle that revolves around extreme
frugality, plus extreme saving and investing, in order to be able to retire early – much
earlier than the standard in the United States. Some of these F.I.R.E. followers save more than
50%, 60%, 70%, 80% of their income annually. Now hey, I totally understand wanting to free
yourself from the shackles of capitalism as soon as possible, or as much as possible. It might
feel like, if we could just survive off of passive income, or very minimal work, then we are free,
we can pursue whatever we want. But is F.I.R.E. really feasible for most people? The thing is,
unless you've made it big and you're already coming from a career where you're a high earner,
most people do not make, or have the ability to save enough money to have an early retirement.
Not
to mention, to start your own F.I.R.E. journey, it's best to be debt free, have a stable income,
and generally be able-bodied and healthy, to minimize, you know, emergencies, and that
can feel very impossible with the state of our higher education and health care systems.
One of my Patrons know noted that their health struggles have taken away many of their most,
quote-unquote, "productive" working years, and also the cost of health care has greatly
prevented their ability to save money. These are not all my thoughts on F.I.R.E. I'm sure I
could do a whole video on that; but I will say, for those who don't mind living a super frugal
life forever, basically, I'm glad that people find comfort and support in the F.I.R.E. community. But
for many, this concept is not even a possibility. Lastly, let's talk about promoting yourself to
the owning class. From what I've seen, another ultimate goal in a lot of this passive income
content is to stop being a worker, get to a point where you never have to work a regular job again.
It is true, being an owner is a much more secure, powerful, and profitable position than being a
worker.
But these content creators don't just want to, say, own a business- like, be the owner
and the manager, whatever. No, the ideal situation is just owning the business, and contributing as
little as possible to the everyday operations. Cue automation, productivity and boss moves.
When I asked about this on Patreon, one of my Patrons mentioned Tim Ferriss and the 4-Hour
Work Week; I'll admit, I have heard about it, but I haven't read it, so, sorry if any of this
is misleading. From what I've seen, the whole goal of The 4-Hour Work Week concept isn't to stop
working altogether, but to optimize your time in order to earn the most money, get the most wealth
out of the least amount of work.
This focus on efficiency, time management, and outsourcing
your life surrounds the concept that your labor is high value, and that your time should be
high value as well; and that part sounds great. Our labor is high value, and time is valuable,
which most people don't have nearly enough of, because they're not getting paid enough at their
jobs. Doesn't everyone want to escape the rat race and have more time to enjoy life, but still
make a lot of money? Is it possible? As with all idealistic concepts, there are some major red
flags, including that point about outsourcing, specifically.
Ferriss suggests that your time as
an entrepreneur is so valuable, that you should easily be able to hire someone to weed out the
things you don't want to do or worry about. Just hire a virtual assistant, someone who works
across the world and earns a much lower wage, to go through all your emails, do industry
research and schedule your calendar. then take it a step further, and get all your
groceries delivered, and have your resources come to you.
You don't have time to do unenjoyable
or unprofitable things; your time is valuable. One question though, does that same principle
apply to the gig workers that you're hiring? You would hope that someone taking advantage of this
4-Hour Work Week thing, and hiring gig workers, outsourcing their life, would hopefully be
paying those gig workers very fairly, very well. But, with an idea so obsessed with
efficiency and increasing profits, I doubt it.
This passive income realm
is very closely tied to productivity, hustle culture, side hustles.
'Work smarter, not harder! I'm not going to be a dumb little worker, earning
nothing! I'm going to be a boss- a girl boss!' Anyway, on TikTok, I have seen a couple of
interesting examples of becoming your own boss, like a 22 year-old who bought a carwash!
There's a whole genre of this like, vending machine businesses; I see your
fat stacks of cash and I raise you buckets of quarters! They typically act like
all you have to do is go collect your sweet, sweet profits, but of course, these businesses do
require labor and expenses. But again, it's easy! Just go buy a business, hire people to do the
labor- boom, you're making passive income! Go, literally collect your coin. Now, if you ask
me how did, say, a 22 year-old afford to buy a car wash? Shhh! That's not the point, just- just
like, hustle and work hard, believe in yourself! Final thoughts; I don't blame anyone for wanting
to pursue passive income. We feel the need for having these backup plans because we don't have
that social safety net.
If you lose your job, how are you going to pay your bills?
You're going to lose your health insurance, what are you going to do then? So, this
idea to have multiple streams of income, is supposed to provide that individual
safety net, for you and your family, your loved ones. If shit ever hits the fan,
and one stream of your income ends or slows, you have other ways of bringing in money, that's
a comforting thought. Basically, I get the appeal, but I wouldn't recommend listening to these
people online who promise you that they can make you rich, with three easy steps, just buy
their course on crypto investing… No! No! now I wanna give a thank you to my Patrons! if
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thank you all for being
patrons and thank you for watching this video. once again if you're interested in trying
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one. Stay tuned for future Internet Analysis videos. Okay, thanks, bye!.