Comments on: The Myth of Passive Income … http://7million7years.com/2009/08/05/the-passive-income-myth/ How to make 7 million in 7 years ... Thu, 24 May 2012 09:20:05 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Angel Baker http://7million7years.com/2009/08/05/the-passive-income-myth/comment-page-1/#comment-6561 Angel Baker Thu, 09 Sep 2010 16:32:03 +0000 http://7million7years.com/?p=2951#comment-6561 there are so many intellectual property and copyright violations these days-;` there are so many intellectual property and copyright violations these days-;`

]]> By: Luca Richards http://7million7years.com/2009/08/05/the-passive-income-myth/comment-page-1/#comment-5787 Luca Richards Fri, 23 Jul 2010 17:50:29 +0000 http://7million7years.com/?p=2951#comment-5787 intellectual property is not really respected in most countries in asia where piracy is so rampant.*~~ intellectual property is not really respected in most countries in asia where piracy is so rampant.*~~

]]> By: Tyler Clarke http://7million7years.com/2009/08/05/the-passive-income-myth/comment-page-1/#comment-5325 Tyler Clarke Tue, 25 May 2010 17:49:07 +0000 http://7million7years.com/?p=2951#comment-5325 Most countries in the third world never respects intellectual property rights. piracy is so rampant in asian countries.:.. Most countries in the third world never respects intellectual property rights. piracy is so rampant in asian countries.:..

]]> By: My Journey http://7million7years.com/2009/08/05/the-passive-income-myth/comment-page-1/#comment-3334 My Journey Wed, 05 Aug 2009 15:19:00 +0000 http://7million7years.com/?p=2951#comment-3334 AJC, I think the idea of "passive income" is often confused with multiple income streams. Just because you (well not you but most readers) have a 'day job' and a rental property does not make your rental property passive - it just means your income comes from multiple sources. AJC,

I think the idea of “passive income” is often confused with multiple income streams. Just because you (well not you but most readers) have a ‘day job’ and a rental property does not make your rental property passive – it just means your income comes from multiple sources.

]]> By: traineeinvestor http://7million7years.com/2009/08/05/the-passive-income-myth/comment-page-1/#comment-3332 traineeinvestor Wed, 05 Aug 2009 11:14:07 +0000 http://7million7years.com/?p=2951#comment-3332 When I first read the definiton of "passive income", I thought this was going to be a rant about civil servants and politicians..... :-) I suppose the key word is "maintain" - to use one example, technically, once you have written your book it takes no further effort to maintain your flow of royalties (although even that is debatable if you have to actively promote the book). One odd thing about that definition - it does not specify whose effort is required to maintain the income stream. It's implied and generally understood that it refers to effort on the part of the recipient - but without that understanding I would have to say that there is no such thing as truly passive income at all. In any event, I agree with your points. The definition is not helpful and strikes me as the sort of emotive term used by politicians to support demands for higher taxes. When I first read the definiton of “passive income”, I thought this was going to be a rant about civil servants and politicians….. :-)

I suppose the key word is “maintain” – to use one example, technically, once you have written your book it takes no further effort to maintain your flow of royalties (although even that is debatable if you have to actively promote the book).

One odd thing about that definition – it does not specify whose effort is required to maintain the income stream. It’s implied and generally understood that it refers to effort on the part of the recipient – but without that understanding I would have to say that there is no such thing as truly passive income at all.

In any event, I agree with your points. The definition is not helpful and strikes me as the sort of emotive term used by politicians to support demands for higher taxes.

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