The Cult of "Passive Income" | Internet Analysis
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- čas přidán 27. 07. 2024
- what's the deal with "passive income" ?! // The first 1,000 people to use this link will get a 1 month free trial of Skillshare: skl.sh/tiffanyferg02221
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Full video episodes of Internet Analysis are available to watch/listen on SPOTIFY! Follow the show here: open.spotify.com/show/1lec8eA...
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TIME STAMPS:
0:00 - intro
0:48 - why are passive income ideas popular right now?
2:10 - why these remind me of MLMs
4:47 - shout out to today's sponsor
6:09 - step one of making passive income: become a content creator
8:52 - affiliate marketing
11:19 - sell digital art
12:23 - dropshipping
13:59 - investing advice: crypto, NFTs, forex trading, etc.
16:10 - real estate investing
20:29 - personal finance influencers
23:57 - courses and coaching
25:26 - F.I.R.E. (financial independence, retire early)
27:09 - promote yourself to the owning class
30:30 - final thoughts
RESOURCES & REFERENCES:
The MLM Girl Boss Narrative is a Lie - • The MLM "Girl Boss" Na...
9 Passive Income Ideas - How I Make $27k per Week (Ali Abdaal) - • 9 Passive Income Ideas...
Exploring the Sketchy Ads Under Viral Tweets - • Exploring the Sketchy ...
Dystopian Real Estate Content - • Dystopian Real Estate ...
The Growing Problem with Personal Finance CZcamsr Influencers - • The Growing Problem Wi...
Inside FIRE, the implausible millennial movement to save, invest, and quit the American workplace - www.vox.com/the-highlight/202...
Tiffany Ferguson (she/her), 26. Here on Tiffanyferg, my main series is called Internet Analysis, where I research and discuss topics related to social issues and media.
This episode was co-written by Sheriden Smith!
#internetanalysis #passiveincome #personalfinance
Business Inquiries: tiffanyferguson@select.co
FTC: This video is sponsored by Skillshare. Links with * are affiliate, meaning I am compensated monetarily if you join or make a purchase. - Krátké a kreslené filmy
Apologies for the passive income related ads and tons of spam comments, watch out!! the bots always target money-related videos 😤😤
The good thing is that you will get bank out of the hahaha.
The ads*
I was prepared for them clicking on this video instead I have got a an ad for a car so far 😅
Update: Spoke too soon…
I have been looking into UX/UI design jobs and found a lot of the same trends you talk about in this video. There are a lot of people on CZcams talking about how they got a six figure salary working these jobs and make videos on how to get started which are super vague and usually shilling an outside “bootcamp” that costs over 10k. Additionally they’ll usually have courses of their own or offer consulting services and have a host of other “income streams” that make them seem really scammy. It’s so hard to tell if any of them are legit, or if they’re just dangling hope in front of low income people for profit.
Is it ironic that the Vivian Olodun patron with the website seems to be the exact kind of person you are waring about in this video?
I feel like not that long ago 'flipping houses' meant 'buying a wreck and putting in the work/money to make it comfortably livable so somebody can buy or rent a safe home where there was once an unusable space, and earning a profit for this work' and now it seems like it means 'buying a wreck and covering up all the safety issues with cheap cosmetic changes, then tricking someone into overpaying for it'
Exactly
Flipping has always been questionable. There are plenty of houses on the market that were flips from the 90s and 2000s that barely scrape past inspection. In fact, early 2000s renovation shows were absolutely terrible behind the scenes and really kicked off the cheap reno trend. Cutting corners for profit in real estate has been a thing for forever.
That's capitalism, baby
unfortunately I bought one of those places mid-flip. I thought just the basement and bathroom would need work, but these idiots did so many stupid, half assed renos that i'm looking at those two rooms, plus fixing what they wrecked by being greedy assholes. i'm fortunate enough to have some money to do it, but some people get so fucked and end up losing so much money later on because these 'fixes' deteriorate in less than 5 years and devalue the house back to what it was. modern flippers can be such dickheads.
If you flip houses, you only get paid once when you sell it. That's why some people choose to keep the property and rent it out to good tenants, thus getting paid multiple times by collecting rent money every month, every year.
but tiffany, girlbossing *is* my kink
Lmao 🤣
I think that's usually called BDSM. Girlbossing sounds more socially acceptable at dinner though.
how does this play out in realtime tho? being demeaning but wearing a business suit?
Rawr
Whats a Girl ?
I find it really disturbing that the ultimate goal, according to these "coaches", seems to just be to go from being exploited to be being the exploiter. I get the surface level appeal, everyone wants to be comfortable financially and being exploited sucks, but how are you supposed to live with yourself knowing that now you're just as bad as the people who were screwing you over a couple years ago?
Edit: what the fuck are these replies lol
I agree on your opinion man generally I always look out for it to dump so I can purchase some more, truly it has come to stay
Mr Donald Erwin Granchelli is obviously the best, I invested $3000 and he made a profit of $28,000 just for me in 15 days
Either kill or be killed. There’s no winning side morally. Capitalism is hell, so if we’re in hell let’s hug the devil
Mr Donald Erwin Granchelli scks balls.
And bitcoin (decentralized finances) are not just an investment but have the potential to be revolutionary technology that gives power and control over finances from banks and governments back to the people.
It also occurs to me that the greater the number of "exploiters" there are, the less "value" there is to their exploitation and so they have to ramp up their efforts in order to compete.
im shocked at the amount of people using "passive income" when they mean "second job"
Yup. That's exactly it.
@@AllTheArtsy all the things they list take more work than my actual full time job! 💀
Yeah, most of these videos/lists are not psssive at all, unless people have a different meaning for the word lmao
it's called "pandering." i.e. they tell you not what's true, but what you want to hear.
This part. Sometimes they revenue or income streams. But yeah, saying passive income for a second job ain't it.
My biggest gripe with this kind of thing is that you're not even allowed to have a hobby anymore without being expected to monetize it.
I'm low income because of disability and dabbling in various hobbies (on a budget, obviously) is my joy in life. Making it a "side hustle" would suck all the joy out of it and it wouldn't even gain me much.
I fucking hate how people knock down on hobbies if they don’t have a “productive” financial reward. Like hobbies and art are supposed to be fun. I don’t want to create because I have to sell it. I just want to create.
I was in the mindset that I had to monetize everything that I did for a long long time. It stressed me out so much that I had to try to reverse that thought pattern and actively remind myself that sometimes it’s just about enjoying what I enjoy.
I was literally just talking to my family about this the other day. I love makeup and creating looks and I’m always getting people telling me I need to start monetizing it somehow. I just like to do makeup😭😭
That's like a breath of fresh air in toxic 'hustle' culture. I love knitting and crocheting! What is your hobby?
I'm so glad someone said this! A side effect of hustle culture has been to monetise your hobbies. If you get good enough at something, people might pay you for it. Like I don't want to bake for a living, that's what I'm doing for my leisure time!
Totally agree with not only this, but also the side hustle thing. Personally, I currently only work a standard 9-5 job after squeezing a side job at night and on weekends into that for 2 years. I never had a day off and worked 60+ hours a week. I eventually quit the side job bc I couldn't handle it and now all i hear is "get a side hustle, don't only have one source of income, diversify your income" and I'm just like 😒😒. For those of us who can't do online work or start our own business, service jobs are the only "side hustle" we'll get. The side hustle rhetoric just makes it seem like you're not doing enough by having a standard full time job when that's literally all some ppl can handle. Work your job, enjoy your down time, and please be kind to yourself!!
Agreed. After a long time of working towards it, I got a job in the sector I wanted and "treated" myself to just one damn job. "Grinding" to cover the basics meant my nerves were already frayed when an emergency happened, and they happened as I'm my parents caretaker. Thanks for sharing!
Funny I’m reading this after getting home from working 8 am to 10 pm with no break in between two jobs. The cherry on top is that I’m a full time student too. AND the jobs are extremely physically taxing as one is cleaning giant houses for hours and the other is server/bar tender. I walk 18k + steps a day and burn 600+ calories just by going to work. I’m 21 and my body feels like it’s breaking down. I have no free time and barely sleep. It’s tough
EDIT: 2 months later and I’m now recovering from a genuine mental breakdown. My blessing of a partner had to call a wellness check on me from 114 miles away. All of my friends, especially my partner, showed up for me in every way, and that is why I am not dead or without a home.
Check up on yourself and check up on your loved ones. Everyone wants to do well and succeed, it’s so ingrained in us. It is also so important to learn how to keep ourselves grounded when life gets overwhelming.
I don't understand the hustle mentality at all. Maybe some people get joy out of spending all their time working but to me spending your life like that just seems like a waste. Obviously some people don't have a choice which is a whole other issue. No one should have to work 60 hours a week to survive.
Same, I burned myself out doing side hustles for little money on Fiverr. Not worth it. Only passive income stream I have now is Redbubble.
if you have a traditional job you don't need a side hustle or diverse income stream because you probably have an income that's more reliable
The property "hacks" just sound super hurtful to me right now. I'm struggling to buy a house to live in because the bank will probably refuse due to my somewhat low salary. But at the same time, I know acquaintances and distant family members who do wholesaling and flipping. They're literally just buying a dozen houses each month and reselling it at 120-150% of the original price without adding any value to the property, driving up the price bubble and causing people like me to not be able to buy even a single house just to live in
Low salary isn't often the issue as much as bad credit scores are. Also if you want to buy you should look into local housing and government loans you may be able to do a 5% downpayment or less, you pay more for insurance long term, but it is doable and I know this because my roommate is a real estate agent we live in LA it's ridiculous here.
@@kgal1298 i don't live in the US and the system here is kinda different. I have great credit scores, no outstanding debt at all, but the system here won't allow me to get a mortgage that's more than 30% of my income. So, my best chance now is to put a bigger down payment
yes, many trying to finance are unable to compete with wholesalers, flippers, etc who are able to purchase with cash then refinance afterwards.
i'm currently competing w relatives who want to buy an appartment for "rentability" while i want to buy it to, well, have a place to live. and i can't even blame them, it just feels so horribly unfair.
I just saw your comment that you don't live in the states, I thought this whole house flipping thing was very american (obviously I'm mistaken!) because where I live there are rules about having to live in the house/being subject to a higher amount of tax if you want to sell it within x amount of years. Not that I'm saying my country is great, the system is very broken, most houses sell for more than the asking price due to overbidding practices, prices are sky high. Everyone relies on parents giving them money to put towards the down payment. I really hope you are able to find a house soon x
The amount of anger that fills my body when I hear about real estate investing. It has every thing to do with my hometown being totally gentrified right now and my rent going from $400 to $875 in just a few years. The rage!
What is the state doing about it?
This is a huge problem in my community too and so many of our state legislature are real estate people 😡
They make money off buying up all the homes and renting them at absurdly high prices. The cost of houses in my neighborhood has literally doubled in the last 2 years!
@@cbpd89 Yes something is definitely wrong, it is such a huge a scam and something must be done at state levels.... salary or wages are not doubling every two years they need to be some regulations...at this rate many will be homeless or buried in debts and is not fair....
That's pretty cheap rent though!
housing bubble is in full speculation mode
it'll pop
This was on point. People aren't dumb. People are desperate and are doing what they can to survive and maybe have a bit extra. These scams are really predatory in the current economic context
people are dumb and desperate
also holy fuck hi it's you haha =P
Outsourcing your life is the new ‘have servants’. You get time to do fun stuff or get richer and they should be grateful to be employed.
Having maids or nannys, cooks etc is fine, just pay them properly! If you’ll only give them a pittance because ‘They live in a developing country’ or ‘they’re lower class so why pay more’ or ‘it’s a low skill job why should I pay more’, then you’re part of the problem. Domestic workers deserve a living wage just like everybody else.
I think your heart is in the right place so I’m definitely not trying to be combative, but saying that the existence of domestic workers is “fine” as long as they aren’t in a position of complete precariousness is setting our bar too low. We need to remove the economic disparities that make the poor toil for the rich at their roots, not simply ask the rich nicely to share with their servants.
As an aside and to preclude possible disagreements, I’m entirely aware that things are always going to need to be cleaned, cooked, whatever, I’m not disagreeing with that, I’m rather disagreeing with that work being distributed to help the rich instead of everyone.
Totally agree. Our cleaning lady has been with us 7 years now. I always pay her more than what she asks and I still tip on top of that. I'm in the process of pitching a business idea where she would make way more money. She deserves it. So consistent and great at what she does
Also, if it’s so low skilled labor, then why can’t the people hiring those workers just do it themselves if it’s so easy. Obviously they just don’t want to do it, but why pay somebody a very low wage for something that you don’t wanna do so much. If you don’t wanna do it that badly yourself shouldn’t you be paying more?
YES. I plan to delegate eventually and want to intentionally pay them a good, living wage when I do!
I own a solo maid company and I had to switch to a flat rate pricing system so my clients don't realize I gross 60/h cause they would say "I don't make that much and I went to college"..secret time I did too, 2 degrees that sure don't pay that much
Okay but can we actually get a video on the ethics of monetizing meme pages, though? Or like the Buzzfeed articles that are literally just a collection of a bunch of tweets about whatever the Internet is “outraged” about on any given day?
I got a picture from my Instagram put in a BuzzFeed article without my consent. I went hiking and BuzzFeed used my Instagram to talk about how much it sucks to get boob sweat because I had sweat through my T-shirt. It was mortifying and they made money off of me, and I’m just a regular person with an Instagram account with my friends and family and hadn’t made it private. They even left my username and I got a bunch of creepy comments from strangers which I guess you can expect if you have a public account, but I’m just a nobody so I certainly didn’t expect a ton of randoms to flock to my one post of me hiking. What irritates me is that they made money with that stupid Clickbait article and did not have my consent
@@LexiLadonna I'm really sorry you had to grow through that. Unfortunately, whenever you post a picture to Instagram, most of the time, you just unconsciously sign off the rights to your pictures to anyone Instagram markets it too.
It is disgusting, but you can check the rules on the app's HELP section. 😕
clevver news
the daily mail is now a catalogue of amazon stuff to buy
drew gooden made a video about this topic, not exploring the ethics but from his personal experience of meme pages stealing his vines. it's called "going private soon" i think
Finally some one is talking about this.
Every time I get an ad with some dude walking around some luxurious place filming with his phone camera with airpods on talking about passive income I can't help but roll my eyes. What factory is churning out these pyramid scheming grindset bros?? They're literally all the same person.
I love the word play "grindset" :D will now actively incorporate it in my vocabulary to rant about these themes
They would rather put in all that energy scamming than go to school lmao
I blame wolf on Wall Street movie
pick-up artist forums are selling this lifestyle
it's a dude bro MLM
@@bajabl FACTS. then they talk about how school is a scam… lmao
Another thing that infuriates me with these coaches and passive-income enthusiasts is that 99% of them started as rich anyway. It was easy for them to just quit a job and get that passive income, with their savings already giving them enough time to become self-employed.
Preach it 🔥
I know this comment is almost a year old but seriously you hit the nail on the head. As a Social Worker and human, have seen this even amongst my -somewhat socially conscious- peers who are usually married to a high-earning partner go on and on about their newest project as if they just invented the cure for cancer without any help. These folks rarely acknowledge the immense privilege of their lives when espousing "you too can do it!" It's very similar energy only this is worse because it preys on those without the same privileges. Very unethical.
Can we talk about how so many of the "I don't dream of work" CZcamsrs have been promoting these passive income schemes? There has to be a video about the New Age Spirituality to boss babe pipeline.
I recommend Kidology's video on the subject! czcams.com/video/gpkiXoG4azE/video.html
as a very spiritual person it’s so sad to see this happening so often! falling into the same trap and convincing themselves they’ve solved the problem, it’s very disheartening.
They literally all work more hours than most look at Meetkevin that guy never has down time it's like "great you guys are rich, but you also don't stop"
Anna analytics has a video on this
This!!!
the idea of having to work for the rest of my life is existentially horrifying
We are all called lazy for wanting to live. We are also called lazy when being depressed while working our butts off.
Never gonna win
😂😂😂😂
@@Kaybye555 Sure kiddo, must be so hatd
@@marvin2678 you sure must know what life is all about, so wise
learn how to spell@@marvin2678
love it when i refresh my youtube page and it says u posted 9 seconds ago
I'm jealous, I only see hers 20 mins after posting. I think the bell notification hates me. 😄
It's great, it's like checking the fridge again only to find there IS something new to eat
Passive income is actually the opposite of passive when you're just starting. A CZcams channel, making and marketing courses/ebooks, selling art prints, etc. All of these require so much time. And as someone with a channel, when we don't upload weekly, the activity on our channel decreases as well, so it's not like you can just have videos and those keep earning. You still need to be producing content regularly, unless you're already huge and have a big fanbase, or you suffer on the algorithm game anyway.
You're so right about this, people really underestimate how much upfront work there is, it's a literal gamble! Your videos look really great by the way :)
I totally agree. This is my “burner” CZcams account but my other account I have to work tirelessly to make videos. If you’re a major CZcamsr and someone is just getting into your content late and they can marathon through your videos then that’s passive income, but if you only have like 10 to 30 videos up then you have to keep grinding to have a network’s worth of content to binge through. You essentially need to have a streaming service’s library worth of content for it to actually be passive.
It’s even harder when you’re not JUST working a 9-5. I’m in grad school and the disappointment in myself to not produce content is always there. But I have to be kind to myself because I am, in fact, IN grad school. It’s something I’ve wished and wanted for for so long so I just need to consider this blessing as a major win.
@@tamerebel thank you for checking them out!
so much of "entrueaper" "self-employed" "passive income" advice boils down to: quit your 40+ hr work week to work 24/7 for the *possiblty* to *maybe* earn hundreds of thousands or millions of dollars. it's more work for less of the benefit. at least with my crap cashering job I get 2 days off and get free lunch. at least I can go home and not think about work for a couple of hours.
Exactly, unless I was extremely desperate for money I would never trade my free time for more stress.
I want to become a photographer but duuude, the maybe perhaps if the weather is good aspect of building a business really keeps me in my 39 hours work
Have faith and pursue your dreams. You only get one life don’t focus it on the pursuit of stability because you might forget to live.
Yup I always get paid 👏 instead of being the last to get paid
A bird in the hand is worth 22 in the bush. They are selling a dream which is not based in reality. Keep your unglamorous job. I'm keeping mine!
Loved the point about housing. Its always bothered me the way housing is treated as a way to make money rather than as a human right. Also, besides the fact that stock buying is essentially gambling, I could never feel morally okay putting my money into a company that most likely exploits its workers, avoids taxes,and harms the environment, no matter how little my contribution is worth to them overall
Can you not do the whole pretending to care about the workers nonsense? You literally typed that lie on worker exploitation.
Someone else’s labor isn’t your right. I suspect you aren’t planning to chop down trees and learn homebuilding as your side hustle, so you will need another person’s time and energy to make that happen. Generally, this time is represented through money. When you say “as a human right,” I suppose you mean “for free.” But we just established that it will require another person’s time and energy.
@@Greatscott24 i think they meant not free but achievable and not blown out of proportions in its price for people to afford
In my province there is a bank called Caisse d’économie solidaire. There are only 2 or 3. Of them.
The money you invest with them is invested in the more or less local community, ethical stuff. I invest in financial products that match the profits of financial products including bad investments (arms, oils, etc)… but the money do not go in these bad portfolios
this is the real talk no one WANTS to hear but actually HAS to hear, including me. Thanks for keeping it real, Tiffany!
She’a the anti-CZcamsr CZcamsr
This is one of your best videos ever. I'm a personal finance writer, and some of the content I see on CZcams is very disturbing. My favorite point of yours was that if these investing/real estate guys were doing so well with passive income, why are they spending so much time creating CZcams content? Of course, it's to sell you something. And there are plenty of people falling for it.
@kay bee I think some of them are manipulating the audience for their own financial gain while providing only limited value. And as explained in the video, I suspect much of the target audience doesn’t have the resources to replicate the dream being sold to them. That’s disturbing to me. I don’t like seeing people being taken advantage of.
@@MichaelSaves I agree, for example doesn't MeetKevin make his money from selling his courses when his background is real-estate and not investment. And fairly recently he advocated to his viewers to keep holding their investments, but then he turns around and liquidates his $20 million dollar assets.
Yeah I’ve seen some tax advice on passive income and some people are straight up advocating tax fraud
Yes, these people want money so are generating content for money. They likely also wholesale, flip, rent, assign contracts, invest in stocks, work,.... I don't create content but the entrepreneurial mindset is often looking to extract value wherever possible, so I can appreciate their grind. It's just another income source.
it's the MLM for men
Another interesting thing is that business and finance CZcams channels earn a higher cpm on ads on their videos vs other content on CZcams.
I love this topic because people don’t really understand how difficult it is to “actually” have a second job that claims to be easy. This concept of making easy money is prevalent in the virtual assisting world. I started a VA business last year after hearing all about how you can make easy money working part-time and it is NOT like that. It’s also awful seeing how many people quit their 9-5s thinking they are going to be this boss babe VA within a matter of months only to get low-balled constantly by the industry. Worse is that the people who are making the big $$$ in the industry are those who HIRE other VAs for low money and then make them do all the work for clients.
I have an Etsy shop with printables that includes designs I already made for my regular shop as a way of “passive income”. I don’t do anything except uploading the designs and answer some customers questions and if I can buy myself 2 fancy coffees a month with it, I had a good month 😂 making so much money while sleeping
As a graduating college student and the eldest child in our family, I feel this pressure to be successful, especially in terms of finances. But when I weigh the odds that are against me, I feel pissed off and hopeless. I'm pretty sure life isn't meant to be like this. We have evolved so much that we shouldn't have to struggle so hard to survive.
I'm also the eldest and I definitely felt that pressure! Especially when I was rewarded for getting good grades in school and my grandparents were always pushing me to get more education and a well paying job. It's so easy to feel hopeless carrying the weight of those expectations in today's world. But there is hope! I feel like I've found a way out of that and I started my own channel to share some of what I have learned. Check out some of my videos and let me know what you think! :)
Eldest child struggling to meet expectations gang 😩
I relate to this comment so much!
There's enough tech and enough tax money flowing around for many of us to work 30 hours a week and be less stressed. It's just we're being robbed lol
I struggle with videos like this. I have personally known many people with and without college degrees who have succeeded financially. I live abroad because I can make good money as a licensed teacher doing that.
The woman who made this video makes good money from her content creation. I feel as cynical as anyone about how much political control corporations have in America, and yet, the Internet has provided a profound democratization in many ways, including income… Don’t give up yet.
It’s easy to be a critic. Hope is harder, yet profoundly valuable.
For me personally, having been through very real trauma, I realized this past year that carrying the mantle of victimhood wasn’t helping me succeed. That’s not a value judgment; it’s just a practical reality.
At some point, you have to ask yourself what perspective will enable you to actually produce things and succeed in life, and which ones will just keep you feeling stuck. It’s not that I don’t think she has some good points; rather, I’m realizing that certain points will encourage me to produce more in life and have a better existence, and others will just keep me stuck in a victim mentality, and I just don’t have any more time for that in my life, at 36 years old.
It kills me how many of these people see the injustice, see the way the owning class exploit the working class, see all the pain it creates, but instead of wanting a fairer world they want to be the one holding the whip. Are they unable to see the people they exploit as having just as much of an inner life as themselves?
When society focuses on hyper individualism those are the results. People with no empathy towards each other. After all, you do have to be ruthless to get to the top.
they think it doesn't count if they're exploiting workers in asia
oof you put it PERFECTLY! it's so sad that society has fostered this idea that it's easier to just become the exploiter rather than actually end exploitation
The alternative being a centralized redistributive system enforced through the government by power of a gun? You do know that the government generates zero wealth, right? Literally zero. Strip away free commerce and you will be left with a “fair” system that splits a MUCH smaller pie among the same number of people. Idealism is almost as gimmicky as passive income. They have a lot in common because both are completely out of touch with reality.
Yes!! People figured it all out, but nobody wants social equality anymore. They prefer to pay for stupid "passive income" content online than joining their communities to fight for proper healthcare, free education, housing for everyone... People are dumb and bad, that's it :/
It’s so dystopian to watch people shamelessly market exploitation tactics as “easy money hacks”
Its bothersome to me that staying afloat financially is such a struggle to the average person that it fosters this "exploit or be exploited" mentality. People see influencers and "life coaches" get money by taking advantage of people's vulnerabilities and say "fuck it, why should I struggle "ethically" if I can improve my circumstances by ignoring ethics."
Having a social safety net seems like the bare minimum to be considered a developed country. and seems to be at the heart of so many problems America faces today, from homelessness to prison overpopulation.
This, exactly this.
Professors and economists are predicting the US will unravel by 2030 if not as soon as 2025 and honestly I’m not surprised and I’m ready to embrace it lol
@@kristaw206 USA with an identity more entrenched than USSR is going to make those predictions false. With the fall of USSR many pediction about "Country X falls at 2xxx" Has proven to be falze
Similar problems in todays Murica happened in my home country Indonesia in 1998-2004. With an identity that is formed only in 1945. Yet we stay, Murica too will stay. Like it or not. Heck, China suffers similar problems pretty much bar homelessness. But its still one
Nations today are far more resilient to break ups
the USA really is just a developing country wearing a gucci belt
There’s a podcast called “how to money” and their passive income episode was very up front with how a lot of passive income ideas actually involves a lot of labor up front and isn’t truly passive.
Lol....passive income is just another word for investing. You have to put something in to get something out.
Yeah, side hustles are difficult. I started an online French tutoring business last year because I really needed money, and it’s a lot of work. One of the biggest issues I had were some parents who just would not respond to my invoice requests. Luckily I didn’t lose any money, but it’s not worth the headache. I have one student and they’re great and the parents actually respond to my emails, which is so nice.
Always get your money up front
@ that’s my problem, I’m too polite and I give people wayyy too many chances
Maybe a long shot, but depending on your availability/location, I'd love a French tutor haha (I respond to emails and invoice requests).
@@ceinwenhorth6250 just a small suggestion maybe you could offer 30mins free so ppl can get a feel of ur teaching style. if it suits them and they wanna continue to the full hour then they have to pay! wishing you the best angel you deserve to be paid for ur hard work and should not undervalue urself !!
@@Pinkhaloeffect thank you for that! Normally I try to do an hour long meet and greet for free so the parents can get an idea of my teaching style and I can see if the kid likes my energy and/or wants to work with me. Of course, sometimes it’s hard to know after just one meeting, but you take what you can get
I think if you start CZcams only for the money, the odds are probably even more against you than in an MLM. At least the top 1% in an MLM makes money, on YT it is less than that. The only upsides are that you lose time, not money, and you always learn something.
YT just cannot be a passive income solution for more than a handful of people, because it takes at least thousands of regular viewers (more like tens of thousands actually) for only one youtuber to make a living. 99.9% of channels pay nothing or less than the hourly minimum wage. But this harsh reality is invisible because the 0.1% of (somewhat) successful channels that appear in recommendations and search results make it look like every channel has a large audience. On top of that, if you stop producing for just a few months, revenues nosedive quickly. They can also vanish despite your hard work, just because people move on and other channels replace you. So YT is not a type of passive income that can be compared to financial investments, like renting properties or receiving dividends. It is hard, unfair, and totally unreliable in the long term. Great creative outlet, but terrible business idea if you start from scratch.
I recently read that CZcams can end the monetisation of your channel at the 6 month mark of inactivity of the channel. So Yeah. Doing this solely for the money is not a good idea.
Yeah, youtube should just be a hobby imo. Getting monetized or popular is kinda out of our control
This sounds super dystopian to me! I am from Germany and of course the amount of money we earn also hasn't really kept up with inflation and neither has our work system developed accurately but I don't know anyone who works a regular 9-5-job + another job. It is a rarity that people work multiple jobs (of course some do, especially students).
Also in Europe many countries are currently discussing the 4-day-work-week. But a completely different concept than what that book was about. Basically the goal is that everyone only works 4 days a week for the same amount of money, which works because more freetime and balance ensures more productivity therefore the productivity as a whole stays the same even though we work less. Of course this doesn't work for all industries but I'm praying that this will happen 🙏🏻
It's amazing to read that people manage to live a decent life somewhere... Here in South America most of my friends are working in 2 different jobs and still can't afford a comfortable life.
The book was actually the “four HOUR work week” not four days! So literally getting to a point where you make so much money by employing other people to do labor that you only have to spend 4 HOURS per week to keep it going and keep getting enough money to support you and your family. Absolutely wild.
4 day work week is a totally different premise. :)
“Many of these people openly put in the least amount of effort possible” I literally met a girl at my university recently that was sooo proud of her entrepreneurship “hobby” and was telling me all about her new website for her “business” … when she said it was a drop shipping website I didn’t even know what to say
THANK YOU. My younger brother (14 yr old) talks a lot about passive income and ideas like these, but I've found it difficult to explain how many of these rely on taking advantage of others who are likely poor and struggling, or having enough capital in the first place to have the rich-people-passive-incomes like buying and selling properties, etc.
If only social safety nets were advocated for as much as crypto. 🙃
Same with my 20 yr old brother 😕😕😕
My 18 y/o brother too 😩😩
they wanna be a plantation owner for people working in asia
My husband and I were close to becoming drop-shippers. We were desperate because he had a teaching income and I worked at a grocery store/gas station, and we saw no hope of things getting better. So we signed onto a course (thankfully, it was free) and we made our own site and everything. But then...nothing came of it. We shut it down not long after. (Not only that, but I think my husband was feeling guilty that we were trying to earn money dishonestly, which is against our moral code and our religious beliefs.) Three years later and we have better-paying jobs and we aren't as desperate anymore. There's still a part of me that feels guilty for even trying, but I'm glad it's behind us now.
Long story short: We once tried a get-rich scheme and jumped ship within a few months. Bailing was the best decision we ever made.
what do you guys do now for living?
@@lv9265 He unloads delivery trucks and I work at a school-age center (my dream job).
@@NSUDemon14 oh, what is a school-age center? I'm sorry I don't know 😅
@@lv9265 It’s an after-school daycare center. I personally specialize in helping with homework.
@@NSUDemon14 oh that sounds nice! Thank you for explaining to me.
Whatever type of investment you decide to get into, I think the key message here, or for me rather is to start investing no matter how small. Don't rush into anything you're not absolutely sure of. Then of course you can always build from there.
Evaluate your risk tolerance prior to investing, be aware of investments based on your goals and risk tolerance.
What is small? What's small for you might be pretty large for someone else.
Well spreading your eggs in different baskets you know little or nothing about could also be risky. Knowledge is power
@@AlexGr293 You don’t need an MBA in finance to make basic investing decisions.
The best way to go about your investments as a newbie is by working with an investment manager. Someone that has the heart of a teacher, that is willing and able to guide and teach you.
What gets me is that a lot of this is just rebranded Prosperity Gospel (a type of theological theory in protestant (especially evangelical) groups where basically if you put money into the church god will bless you and you'll see it come back _ times over.) Where basically if you throw your resources in, and believe it'll work out... it'll work out.
You forgot the action behind the belief. That’s what makes it work, action.
“Working for your money? Eww, like the poors?!”
I don’t know why that line made me laugh so much, I think it’s just the way you said it. 🤣🤣🤣
Ali Abdaal is a good example because he actually went FROM being exhausted and working an ordinary job (emergency medicine physician) to being a full time content creator. I think for the most part tho people kinda…aren’t transparent about all of that.
@likexbread I think he was already done with residency and working as a doctor before stepping away from it to do youtube and be a content creator full time. He started with youtube and content creation on the side until it started generating enough money to shift his focus to that full time and not be a full time doctor anymore (I think he still pick up shifts here and there at the hospital to keep his skills sharp and because he enjoys being in a position to help patients but its not full time).
I see this on TikTok all the time: people who sell wholesale cosmetics like off brand lipgloss with absolutely no info on what the actual ingredients are or where the make up comes from. I've seen people do order packaging videos where they're deadass opening the cellophane off wholesale boxes, the kind that pop up to be displayed on shelves, then putting individual lipglosses in tiny little plastic suitcases with wholesale scrunchies and being like 'haha im a small business owner~'. They aren't making ANY of the components that they're selling, they're just ordering bulk of super cheap highly questionable lipgloss then reselling it at a big mark up because they put it in cheap tiny plastic suitcases that look cute in a video. Is that not just dropshipping????
No. It is rebranding. Actually a lot of well known big name brands you commonly buy do this as well. If you go and buy an appliance you might notice that many brands look very similar. The reason for that is because they ARE the same, just with a different brand name attached, lol. You see a lot of this in stuff from Amazon as well.
I used to work at a paint factory when I was a student. Over the years they aquired smaller companies but maintained the brand names. We would literally prepare 10000 cans of the cheap stuff and a 1000 cans of the expensive brand. From THE SAME VAT.
Another example, there is a certain mid range candy that I like. I know it well. It is good quality stuff. One day I decided to buy a similar but more pricy product right next to it since it was on sale, to try it out. When I opened it up I recognized right away that it was exactly the same as the stuff I normally bought. All the expensive brand was doing was buying regular candy from various manufacturers, repacking them in a new box and charging twice the price as a "premium" brand, lol.
while you are highlighting a separate and equally factual issue of white label products, there’s a big difference between that practice and bulk orders of dubious origins and then misleading consumers and potentially misrepresenting those products as organic, small business, handmade, original etc. without disclosing adequate information for the consumer to make an informed decision on their product. when you go to aldi’s, yes they have “off-brand” items that come from the same place as name brand; however, those items still list expiry dates, ingredients, manufacturer location and company information. it is the selling of products WITHOUT this information that makes it unethical at best, illegal at worst.
Thanks for this video Tiffany! It’s so validating. I became disabled, lost my jobs, went into debt, faced homelessness…. All because being sick is expensive and I could not live with myself if I made money through gambling, lying, stealing, exploiting, and cheating like these people do. Your break down of these “hustles” and frankly your anger reminds me I made the right decision. It’s so easy for anyone to feel like they are just lazy when facing poverty with all this rhetoric on social media. I’m glad there are people out there like you with these morals and values to remind us we’re okay.
Sam Deymon spend hours each day to ensure that something of value is released into the world that has impact on those with an interest and desire to be a part of this platform.
I'm interested and i will like to get involved in this stock trading and investments too.
I have been looking for a consistent trader from etoro platform but I haven't seen any, this broker you speak of does he assist in dividend stocks too?
@@stephenco9507 I once had this your experience and I thought all hope has gone but thanks to Mr Sam.
The cryptocurrency market is highly volatile so every investor needs to do fundamental analysis and evaluate which projects might take a longer time to gain profits and which projects are currently at their peak for quick profits, trading under the guidance of pro trader Sam Deymon provided me with the knowledge and strategies I required to make profits for the crypto market.
scam comments
If I remember correctly, the carwash girl bought the business with a seller financing deal where she makes monthly payments to the previous owners. She uses the profits from the business to make those payments, which means that if the car wash were ever to break down and stop earning money, it would likely revert to the previous seller. She also bought an ultra-expensive car with the profits (I want to say it was a Maserati), so I'm guessing she does not have any sort of emergency fund. Sure, she's living high now, but she's literally one broken piece of equipment away from losing it all.
Could just be a shell business for laundering dark money
Your ability to analyze and sum up a lot of the problems I have with different internet topics that I feel but can't articulate or pinpoint is really top notch. I've watched plenty of these financial videos and there was always something in the back of my mind letting me know there's an issue, but I can't make it out. Keep up the good work! Love me some internet analysis. Looking forward to the next one.
When you said “shh!” about the 22 year old buying a car wash…..I actually cackled. Amazing.
People who have passive income are the same people who complain about “people not wanting to work anymore” or “this next generation doesn’t work hard.”
This is a slight side note but what really gets my goat is when these same exact passive income finance bros say “you have the same 24 hours that Beyoncé has, you can be successful like her” and it’s like sure, if I had a driver, private chef, cleaner, and someone to do my laundry I might be able to do a bit more. But a poor persons 24 hours is NOT the same as a rich persons.
Also. It seems important to point out that these people don’t actually want you to succeed when you watch their “how to get rich” videos. Capitalism needs exploited people to work. As the exploiter, they absolutely do not want all million of their viewers to also get rich. They just want to sell you a consumable dream that they know is impossible for you.
Here's the thing about stock picking (from someone who actually has a finance degree) - you need a diversified portfolio to manage the MANY different types of risk that comes with investing (typically more than 40 different companies = a diversified portfolio). If you're going to play around and pick individual stocks, do it with money you are fine to potentially lose. Also, finance advice from people on the internet telling you to buy x stock or y cryptocurrency usually have an ulterior motive. Be safe out there y'all!
"Usually"? ..... lol. More like "always".
Take Warren Buffet's advice. Continuously buy into a mutual fund/ETF that will automatically diverse your funds into 1000's of stocks over years and let compound interest do its thing.
I feel like the fundamental idea behind passive income lies within the general truth that it takes money to make money. Except obviously that the people who want passive income usually don't have much of an income in the first place nor the capital to get going so all they have left to invest is their free time. So what happens is that the ways to make "passive" income almost always comes down to doing these niche things which Tiffany covered in the video that still involve a decent or huge amount of work to do successfully (if you're not one of the people who get REALLY lucky) or maybe really requiring negligible input only if you're doing some ethically shady stuff after which you might be making an okay-ish salary? I'm a software engineer, like that one guy in the video who quit 3 weeks in to do real estate instead, and I work pretty average hours while making a shit ton of money. There's definitely not a lot of careers out there where you can have a great quality of life but the alternative is to either be an active leech on other people who're just trying to survive (like most of the owning class, self-help social media mentor geniuses, MLM boss ladies & lads, etc) or overthrow the system through probably violent revolution. And unfortunately for the working class, including those who literally cannot pursue 90% of opportunities because of the position they're in due to how overly competitive and unsupportive capitalism is, there's too many idiots who buy into the "temporarily embarrassed millionaires" meme who'll gladly play the game to the detriment of nearly everyone else.
also sorry for bad English im just an idiot
No your English is amazing! I never would’ve thought that you don’t speak it very well because I followed everything you said.
I also agree with the concept annoying concept of “temporarily embarrassed millionaires“. It’s just the American dream repackaged millennial/GenZ style.
Being a landlord is passive income only after the home paid off. And the term "passive" refers just to the type of income. A good landlord make sure the house is kept up in good condition. As a black woman real estate investing is extremely important to me especially considering that for Generations blacks were turned down for homes and real estate is one of the most secure ways to pass on generational wealth
I almost fell down the rabbit hole of earning passive income then I remembered that I have an investment account and multiple retirement accounts so I just focus on my career and having good money management skills to live the rich life that I want. During the fall & winter seasons I do work a part-time job at times but no more than 10 hours a week and close to home. I usually do retail so I can get the discount on items I buy regularly 😂😂.
The laugh I had when the following ad asked “WHY DON’T YOU OWN AN APARTMENT BUILDING! Here’s my what you’re going to do!”
Smh. I’d rather just have two or three jobs with guaranteed income. I’m working, lower middle class ( a laugh really). These extra ways to make money definitely take more than they give for me. I’m not that privileged just yet.
Oof the passive income tips that come up on Pinterest. Like making a coloring book by using Canvas assets to upload to Amazon and expecting income from something so low effort
I mean.. if you put effort into the coloring book you’ll probably get a decent result. Just like everything takes effort.
@@SynterraSteen they were taking clip art from Canvas and uploading the pages
Also, have you ever encounter the "selling printables on etsy" passive income gurus and coaches? It's a whole genre! And I believe many of those coaches fall in the tropes you discuss on this vid. Excellent analysis as always
I follow one lady who promotes that. She shares her income every month. 10k of it is coaching. But all she posts is using Etsy.
I'm so happy you're talking about this! I had a brief stint where I was looking into passive income, the novelty wore off really quickly when I realized all the 'super easy' ways of making money were based on having already done a lot of work to have the content ready to go, or worse exploiting other people who have done said work. Thanks so much for talking about this!
There is nothing wrong with being a middleman. It brings customers and providers together who otherwise might not be aware of each other. It does serve an economic purpose.
The interesting thing about the vocal FIRE community is that many of them continue working after they “retire”. The new job is traveling around talking about FIRE. The face of FIRE is a bunch of blogging/ vlogging entrepreneurs with large investment funds not actual retirees. 😂
I would LOVE to hear you talk about the monetization of meme pages, especially since I work in that aspect of making sure video owners get credit and money
Thank you so much for talking about this, especially the segment on art and design. I'm so frustrated with videos by art CZcamsrs talking about how to make money as an artist, and they ALL rely on having a large following who are willing to purchase your work. I've even seen tips on this in videos that specifically say in the title that it's options for artists with small followings. Like, okay? How am I supposed to sell prints and merch if I have 300 followers and a small percentage interact with my work, and that's IF the algorithm shows it to them? 🙃 It's one of many lies that make people feel like they just aren't trying hard enough, and then they end up putting the little money they do have into these scams that promise to teach them "the secret" to doing better.
Simple. Get more followers for a start. How you do that is up to you, but obviously it is neccessary to adverise your services. If no one knows you exist they are not going to buy your stuff no matter how great it might be.
Nothing in life is free, if you don't make appropriate investments of time, effort or money, you won't normally get a return. Sometimes you might get lucky and win the lottery, but winning the lottery is not a sound life plan.
I bought a rental property years ago with the plan to have someone manage it for me while I collect the rent cheques with little or no work. That blew up spectacularly within the first week and wound up being a waking nightmare for about 6 years. People who pursue easy money often forget just how wrong things can go.
Those passive income influences have admitted what anti-work is all about: Work is a huge fraction of a person's lifecycle and there's huge amount of human suffering related to work.
I really appreciate how you start the video with very realistic and relatable issues that many people aren't talking enough about! It's awesome! Sometimes it feels like we're (the working class) constantly getting gaslit left and right 😮💨
I’m the guy at 22:30. If you see my page, I never pitch a course, I actually have two videos after that one you showed that teach anyone how to do the entire thing.
I teach real-estate investing because, yes, I want to help others but building a social following is valuable - you know that as well, hence what you are doing. So why can’t I give the information for free while building an audience?
I’m also very transparent about my profit numbers, I am not rich … but I am working to retire my dad first.
I wish you the best as a creator!
Gotta say, it was pretty harsh of her to include your clip if that’s the case. Also saw she included clips of Graham Stefan too, and I know he generally does do clickbaity titles but I’ve never heard of him grifting people as far as I’m aware, and his investment advice is usually pretty moderate too.
CZcamsr Folding Ideas has an incredible breakdown explaining/contextualzing/dragging crypto and NFTs. It's 2 hours but well worth the watch.
As an artist and writer, I've seen a lot of people using Amazon to publish their books. It's really a shame that this is the way a lot of people _have_ to go to get their work published.
And then here are these people making low-effort content and getting sales.
Capitalism makes a mockery of itself at every opportunity.
I've been dying to hear this one. I'm like 30... and I feel like oh I should be doing more with my finances than my job where I bring a certain amount a week. And ofc being a CZcams viewer/listener I go to this platform and it gets so confusing bc "start your entrepreneur career" "start passive income streams" "start a youtube channel" etc is what floods finance youtube and gets all confusing pretty quickly
Passive income is like a scammer's dream. People have to be careful...The only idea here I would love is FIRE. But I also want to spend some fucking money while I am still alive. Anyway, that's why I work in the public sector. Job stability, good benefits/PTO, and decent retirement. I recommend for anyone. I do take a slight pay cut compared to if I worked for private, but I'd rather jump out a window at this point. Fuck corporate America. I'm done.
I feel the same way. I want to work for the public sector or government as an architect
I worked for the government and never again. Sure, it sounds good with all benefits and regular pay...but you can work your butt off and never get promoted because the person right above you is not about to let go of their job and go for a higher grade. Ever. And it's not just one person, it's departments full of those type of people. The worse part is even you are hard worker and give it your all...try asking for a pay raise and all you will get is "not in your pay grade".😳😲 Never again!
I can appreciate that at least FIRE isn't as exploitative as the other passive income ideas. Everything else feels like it's trying to win at capitalism, while FIRE is wanting to be free from it (to a certain extent).
Honestly i love that one of my comfort youtubers uploaded after i had a bad day/week
Drop servicing is like the peak “passive income guru”. I do believe theres a place for everybody i think the issue comes into place when we start stepping on the backs of others to just turn around to sell them a course on how to step on other peoples back.
What I hate are the derrogatory terms thrown to us who don't want to follow: lazy, dumb, good for nothing, low life...
They make you think you HAVE TO have more money and that whatever you have is not enough.
(This is coming from someone with enough to rent a home a feed my family; I live well but I don't have much extra to spend for going out or anything else)
Nonetheless, I feel comfortable with that I have now and have enough time to spend with my family and do some hobbies that don't require many materials.
Let's not let people tell us we need to be greedy.
For the people who genuinely need more money, I hope you don't get taken advantage from. These people don't care about you, they only want the money they earn from your vulnerability.
I got really into this for all of a week before I realized how much work these “passive” income streams actually are….so many of them are just a side hustle by any other name
Yes! My mom owned 4 vending machines when I was a kid and it was SO much work. My brother and I would have to go to all the vending machine locations with her as she collected the money and restocked them. It would take almost a full day and she has told me as an adult that the money was very unreliable and that's why she ended up selling them. I never understand when I see TikToks acting like owning vending machines is super easy passive income...
Great. Now I’m going to get passive income CZcams ads. … but your videos are worth it, Tiffany 😊
I just had one before the video started...
Nothing comes without effort. And if you start an income stream without effort you likely already had money to hire others to do the work. Like the "4 hour week" ... turns out if you can hire ppl you can have a 4hr week.🙄 I really hate these scammers telling people in need that it's super easy to make money. Especially when their advice also boils down to: invest your money that you don't have. All of these require time, money and effort at the very minimum..
omg SHE DONT MISS! also your hair looks amazing. i just had someone ask me to do a video about drop shipping, too! i think all of this side hustle passive income stuff is just becoming so common that it’s becoming the consumers’ problem, too lol. amazing video!!
thank you!! I filmed this a few weeks ago and was still in the process of editing when I saw your financially free vid - I was like yes… same wavelength! 💖 plz do a video on dropshipping, it is hellish content but I know you’ll make it great
We love you Kelgore!!!
@@sheridensmith ahhh the elusive sheriden!!!!
I looooove this topic! Thank you so much for this video! Something I've been thinking about a lot is the impact of this "passive income" and "gig work" on our functioning society. People are quitting their shitty jobs in search of something better, which I applaud them for! However, we NEED someone to do those jobs to have a functioning society. I recently went to the pharmacy to pickup some important medication and I was turned away because the computer was down and there was no one available to fix it all while the person behind the counter was drowning in work she had to do alone that requires at least 3 people. Would love to see you expand this topic and discuss how capitalism is driving people away from jobs that don't treat them well and the impact of people receiving medical care, supply chain of food production, skilled labor, etc... My hope is that employers will see these trends and invest back into creating jobs that people feel valued and want to stay at.
🎯💯 You hit the nail on the head. It's sad and alarming how the masses have been brainwashed into an almost superstitious fear of socialism, when 98% of them don't even know what it is. Meanwhile, it's capitalism that's directly responsible for so many of our modern problems, right down to certain social issues. The Reagan administration really set America on the course of self-destruction. Look at the prosperity and REAL safety nets we had between ~1948 - 1985. Compare that era to the desperation, chronic stress, and scrabbling poverty of today.
My mom had been so deep into courses like this the entire time I was growing up. We were poverty level during those years, but she really hoped that we would get lucky with affiliate links and the like. It’s wild to look at now as an adult.
As someone working in class action, pump and dump stock picking schemes are VERY common. Influencers will invest in a low cost stock and then either promote it or pay big channels to promote it as the next big thing. After the price shoots up they make a bet against stock that it will fall. They sell of their stocks and then pay that same big creator to say it is failing and we need to pull out now. Then the followers pull out and the stock drops so the person wins the bet. It is a lawsuit I see companies deal with the fallout of in securities class actions and then the company goes after the influencers but the influencers get just fined. When in reality their viewers lose so much money, the company loses money, rich people sue the company for failing, and then the influencers walk away with just a couple 100,000 in fines at most when they make half a mil or more.
There is a family in my town that literally owns every rental property in our town, including most of the commercial properties, as well as flipping and selling. It’s insane.
Wow! Makes you wonder how many towns are like that.
It's almost like we never left feudalism behind...🤔
Im getting more and more called to activism these days bc im literally on the cusp of poverty and lower middle class (40k, for a single person with 25k debt) and im FEELING THIS SHIT- HARD. I can't imagine being in a worse position than me and it really makes my heart hurt. I want to DO something about... all of this. How can we get organized???
I am in college and I work part time as a server, and I make pretty okay money! I am able to pay rent and buy groceries, and my hourly wage is pretty high thanks to tips. I work at a small business as well, and because of this I feel a lot of loyalty to it and really put my heart and soul into it. However, even though I do not work much, having the energy to commit myself to school after working is so exhausting. I’m technically making money, but at the same time losing money because I may have to be in school longer in order to get my degree, as I have had to cut back on my class credits in order to make time for work. I don’t have the ability to live at home and not pay rent, and I haven’t really been able to save up money because, quite frankly, I am bad at saving. It’s crazy how many people recommend I start a side hustle like selling my art or selling feet pics or something, but the thing is I don’t have time to start those up either! Nor do I want to have to dedicate my time to them. Money is so difficult to accumulate and it’s such a problem. I really hope something happens to help lower the cost of housing or something because it definitely eats up the most of my paycheck.
I've always kind of thought of passive income as a scam. However, you mentioned selling digital goods such as artwork or crafting patterns and that was something I had never thought of. I learned how to sew when I was little and now I am wanting to learn more advanced skills (pattern drafting, fashion illustration, etc.). If I am already creating patterns and art as a hobby, it's not too much extra effort to sell the digital versions. It's a great idea for making some amount of revenue from my creative skills. Thank you!
They will be copied and someone else will make the money instead, lol.
@@Tugela60 You own the copyright to them. Make sure to register your copyrights, it's not required for ownership but without doing that your ability to recover damages from someone stealing them is limited.
@@RamaSivamani You can't stop people making and selling handcrafted items, they are not protected by copyright.
@@Tugela60 people can absolutely protect their artwork, and they can sue if it’s proven.
@@OpinionatedBlues You can't stop people making and selling handcrafted items, they are not protected by copyright.
The truth is more important than the facts. I’m exigent on productive information on how to possibly create wealth with my $250K good enough to retire. What’s your say on this approach?
Our perceptions of your approach influence how we interpret, understand, and act on the truth. My opinion on this should be you get yourself an aid cause most successful ones seek the knowledge and skills of professionals and claim to achieve their success without any prior help
@Thompson Miller Great! got it
Every wealth management firm has its own set of operations and specialties which will surely suit your plan, these cover a vast range of topics, including long-term planning, estate planning, strategic tax planning, retirement planning, insurance planning, and many others.
tell me why the first ad on this was about how to earn passive income...
spooky algorithm cybermagic?
I especially hate FIRE people because when you bring up needing to live somewhere it's like "oh just live with your parents!" Like ??? I am a grown ass woman with a good, stable job who can afford to live alone with my partner, my parents have done their job of raising me and ensuring I had the tools and education to help get me here it's time for them to get to enjoy this next part of their lives together having their space back. Of course they are there if it really hits the fan and we've got no where to go, but taking up their time, space, and resources so *I* can retire at 35 when *they* should be enjoying their retirement that they worked decades to earn is just so peak entitled brat I can't even stand the thought of it.
also like... i want to have a good sex life, Kyle. So no, I won't life with my parents if i dont have to
FIRE on Reddit is just filled with SWE's working at places like Google pulling in 300K a year or more and then optimizing their income with second jobs and side gigs because they can charge so much per hour. That's what I've noticed anyway I'm sure some FIRE people live cheaply to retire early.
But also not all of us have parents or family to fall back on.
@@kgal1298 my husband and I are working towards FIRE and we are a young family on a modest income with student loans working our asses off lol
Living off your parents on purpose to save money is just leveraging THEIR retirement to fund yours, lol. Who wants kids like that?
I created a campaign for a local parent support charity about MLMS rising here in Ireland, over the pandemic. A co-ordinator at that charity actually saw your video and that with an increase in people complaining about “scammy companies” and she put 2+2 together
Literally wholesaling feels like it should be illegal. They buy up “cheap” property that low income people could use and then sell it at a higher price to make a profit.
It seems like most of these passive income ideas boil down to "Tired of being exploited by big money parasites? Become a parasite yourself and graduate from exploited to exploiter! Must be wealthy enough to afford the initial investment to apply." The housing ones are especially problematic. Affordable housing is already a big problem. Using real estate for passive income is pretty much interjecting yourself as an unnecessary middle man just so you can inflate the price by a few thousand dollars just to line your own pockets. Wall street has already caught onto that game though...buying up properties on the cheap and then becoming slum lords who are able to inflate prices by virtue of controlling a substantial portion of the market in the area.
Historically ordinary people have rented their homes. It was only after the second world war when suburbs were developed that home ownership for ordinary people became common place. All that is happening now is the economy is reverting to its normal condition in that regard.
It is zoning regulations and QE which are causing the housing crisis, not real state investors
There are lots of good reasons for renting, even millionaires do it. It allows you to retain your capital for other purposes, and it provides you flexibility in your career since buying and selling a home is a very expensive proposition.
The main reason for buying a house is as a long term investment to protect capital. This is true is you plan to live in the house or rent it out. If you are moving frequently for work reasons then buying is really stupid.
A large part of the reason for high rentals in many areas is not "gouging" but the LACK of rental stock in the first place. Rents reflect supply and demand, not how much the landlord paid for it. We need MORE landlords, not fewer.
Tiffany is so refreshing as a CZcamsr ❤️ Honest, interesting, relatable, funny, entertaining, educated, and has great bangs :)
i feel safe here because i thought i was the only one being bombarded with passive income content
Wholesaling just sounds like being a realtor.
While I do agree with a lot of what she's saying, her anti capitalistic outlook is kinda hypocritical when she gets to reap all the benefits of the system. Also there is nothing wrong at all with being rich or wealthy. Just because you are afraid of investing, doesn't mean it shouldn't be done. While I do agree with most of her points about mlm and things like dropshipping, others are just a miss. Not all landlords are evil and not all people in real estate rip you off .
Well, she is sort of conflating capitalism with fraud and that is simply not the case. There is nothing wrong with enabling distribution. You can only fill a niche if it is empty to start with, so usually those sorts of capitalist endeavors do serve an economic purpose, particularly in a sophisticated developed economy.
@@Tugela60 that's the problem with people like her they only understand the surface of the situation or don't wanna expand their understanding because it means their thinking would be wrong
@@Tugela60 easy to blame something on the system when things in your life are not where you want them to be.
Great comment. I'm in total agreement.
As a CZcamsr who spends over 30+ hours on each video and has uploaded over 90 videos on this channel (over 200 on all of them) that have a combined of 700,000 views ... I could pay my rent once with the money. Thing is, in the two years I've been uploading weekly my rent went up by 200€. ☺️
The other problem with flipping houses is that first time home buyers are priced out. A couple decades ago you could buy a relatively inexpensive house that needed a bit of work, fix it up slowly while living there, and then sell it for a profit when you were ready to move on. You can’t do that now because investors or flippers are buying everything up and (at least in my area) turning everything into an AirBnb.
Well said
Just one point though, many workers lose jobs because the business is failing. Being a business owner is no guarantee of success and has little more security than an employee. Many businesses owners in reality simply buy themselves a low paid job with lots of risk. Online, real estate, trading, mlm, or bricks and mortar.
sometimes i rewatch folding ideas' nft video just for funsies like it's an instant classic
Passive income is a myth. The one collecting the majority of the income might not be actively working for wages, but there is someone in the supply chain being exploited.
Loved this video, thank you for making this!
I personally felt the "tiny house cult" (putting myself in this category) puts out SO much rhetoric about financial freedom, but don't like to mention that they parked their house in their parent's backyard, or just drop that casually, like everyone has parents with 1+ acre properties. I just put a video out on my channel about this topic, if anyone's interested.
Also, as a business owner myself (except I actually do work!), I have outsourced some work before that I didn't have the capacity or skillset to handle on my own. Unless you're SUPER lucky - a) you find someone who is inexperienced, makes a bunch of mistakes, or takes days and days and days of back & forth and revisions through a language barrier, so you end up spending 2-3 times as long managing the project than if you just did it yourself to begin with, or b) you find an AMAZING contractor who blows you away and gets the job done, but they charge you more than the client paid you to do the work, so you actually lost money. In a creative field, like graphic or web design, photography, etc, there are SO many clients who come to me saying they could hire someone on Fiverr for half my price, or they come to me after they had a horrible experience with someone on fiverr who made them a logo for $25. And I don't blame the folks on fiverr, the vast majority of whom live in developing nations, where the competitor pool is vast and rates are expected to be low. But it honestly has devalued our work considerably.
my friend is trying to buy a house and offered $170K over asking and still got outbid because someone else made an even higher CASH offer, I’m assuming not someone who is actually buying the house to live in it. It’s sick the way that the for-profit housing market is making it even harder for people to buy houses. The whole market here is ridiculously inflated
Since when was property ownership a right? Until the second world war most ordinary urban people rented their homes, they did not own them.