4 ms·

Passive income was never defined as "no work, receive income". It was, "work once, passive income later without extra work". As in, your full time employer will

Passive income was never defined as "no work, receive income". It was, "work once, passive income later without extra work". As in, your full time employer will stop paying you if you stop working. Your books that you wrote some time ago will generate income in perpetuity without any extra work. You still need to put in the upfront work of creating something. It just so happens that something can generate income for a long time without much, if any, upkeep. Think of it as a machine that prints money. You still have to build the machine, but afterwards you just have to change the oil once a year.

silisili 5y ago
Passive is the opposite of active, I get the definition. Something you're no longer really actively working on that keeps making money. I'm jealous, I'd love to have such an idea. But this seems different -so far-. This is more akin to building 80 money printing machines that each print a certain amount of money. They may work forever, or die in 6 months, or not work at all. I guess my entire point is that this is a monumental amount of seemingly continuing effort. It's simply too early to call it passive IMO. However, dates are missing here. If OP wrote his last book 5 years ago and is collecting this income each year, I'll gladly eat crow.
- greglim81 5y ago
  Its mainly jsut about eight books that bring in majority of the income. Amazon doesn't allow authors to delete unpublished books, thus showing 80. you can check out the active books here: https://www.amazon.com/s?k=greg+lim&ref=nb_sb_noss https://www.amazon.com/s?k=greg+lim&ref=nb_sb_noss
  - yardstick 5y ago
    Useful clarification! Would also be interesting to see what your sales tail is like… are some of your books still selling decently several years after publishing?
    - greglim81 5y ago
      So far for April: From Amazon $2,064.81 From Gumroad $384.96 There's also Smashwords & Ingramspark as well but I won't share those for now.
- all2 5y ago
  > This is more akin to building 80 money printing machines that each print a certain amount of money. We should cut out the middle man -- and the middle step -- and just print money. We can start 100 digital currency initiatives and play the lottery, one of them is bound to take off...

silisili 5y ago

Passive is the opposite of active, I get the definition. Something you're no longer really actively working on that keeps making money. I'm jealous, I'd love to have such an idea. But this seems different -so far-. This is more akin to building 80 money printing machines that each print a certain amount of money. They may work forever, or die in 6 months, or not work at all. I guess my entire point is that this is a monumental amount of seemingly continuing effort. It's simply too early to call it passive IMO. However, dates are missing here. If OP wrote his last book 5 years ago and is collecting this income each year, I'll gladly eat crow.

greglim81 5y ago
Its mainly jsut about eight books that bring in majority of the income. Amazon doesn't allow authors to delete unpublished books, thus showing 80. you can check out the active books here: https://www.amazon.com/s?k=greg+lim&ref=nb_sb_noss https://www.amazon.com/s?k=greg+lim&ref=nb_sb_noss
- yardstick 5y ago
  Useful clarification! Would also be interesting to see what your sales tail is like… are some of your books still selling decently several years after publishing?
  - greglim81 5y ago
    So far for April: From Amazon $2,064.81 From Gumroad $384.96 There's also Smashwords & Ingramspark as well but I won't share those for now.
all2 5y ago
> This is more akin to building 80 money printing machines that each print a certain amount of money. We should cut out the middle man -- and the middle step -- and just print money. We can start 100 digital currency initiatives and play the lottery, one of them is bound to take off...