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I think in the tech circle, passive income is used to refer to something you could ignore for 6 weeks and it would still be earning you money. Most of the 'work
by lucaspiller 13y ago
I think in the tech circle, passive income is used to refer to something you could ignore for 6 weeks and it would still be earning you money. Most of the 'work' people put in seems to be increasing revenue rather than maintaining it, although yes I agree it isn't completely passive. The same could be said about your condos too though, they'll need to refurbished every few years. Unless you are outsourcing everything, you'll need to do some management of that yourself.
- erikb 13y agoLook, I understand how people use the phrase "passive income", but it's really not correct. Like "object" or "unit test" "passive income" is a term with a meaning. It has advantages for you to understand the difference between "unit test" and "regression test". It also has advantages to understand the difference between "active income", "passive income", and "portfolio income". For once you can speak with professionals without misunderstandings, and you can think about a topic in a different way. When you understand what "passive income" means you will see, that you actually really like "passive income" from a tax paying point of view, even if you have to work as hard for it as you would for your "active income" (e.g., salary). The thing is, though, that often if you have to work hard for something that is considered "passive income", then you are probably doing something wrong or it's actually your "active income". [1] http://www.investopedia.com/terms/p/passiveincome.asp http://www.investopedia.com/terms/p/passiveincome.asp [2] http://en.wikipedia.org/wiki/Passive_income http://en.wikipedia.org/wiki/Passive_income