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Passive Income is a Myth

2022-09-05 Education
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Nomad Capitalist
Nomad Capitalist
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Description

Join Our Email List and be the First to Hear about Breaking News and Exciting Offers https://nomadcapitalist.com/email Secure Your Spot at the Best Offshore Conference - Nomad Capitalist Live 2022 - September 21-24 in the most vibrant city in the world, Mexico City: https://nomadcapitalist.com/live/ People who want to get ahead and succeed in their lives and businesses don’t sit still. That’s why passive income is a myth. Nothing in life is passive. Some people who own rentals, perform equipment leasing, or own real estate may argue that statement, but even that income is not technically passive, anyway. In this video, Andrew shares a video from Gary V and explains why he thinks passive income is a myth. 00:00 Start 0:21 Passive Income 2:48 Gary Vaynerchuk - Earning "Passive Income" 6:13 Passive Income is a Myth 8:00 How to Become an Entrepreneur 12:08 Capital Gains Tax 16:00 How To Become Rich 20:00 Selling Books The clip we used: https://www.youtube.com/watch?v=DwGMS06jPwU Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best". Work with Andrew: https://nomadcapitalist.com/apply/ Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle. Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort. About Andrew: https://nomadcapitalist.com/about/ Our Website: http://www.nomadcapitalist.com Subscribe: https://www.youtube.com/subscription_center?add_user=nomadcapitalist Buy Andrew's Book: https://nomadcapitalist.com/book/ DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

Top Comments (10)

@mkwallstoryteller 2022-09-05

You're a mind reader, my friend. I always laugh at these YouTubers who brag about being retired before they've reached 40 years-old. It's like, bro, you're putting out 3-4 videos a week, selling a course, and privately coaching people to supposedly retire on passive income. And probably managing crypto, stocks, and real estate behind the scenes. That's all work, not retirement. That's not passive at all.

368 24 replies
@devereauxjnr 2023-07-06

Asking a real estate broker if it’s time to buy is like asking an alcoholic it was time for a drink.

305 4 replies
@MrFrankLeahy 2022-09-06

Great closing words: "Everything has to be watched. Everything has to be managed." ... unless you want to live in the forest, sleep on the ground, and forage for berries that statement is very important.

172 3 replies
@TheZacman2 2022-09-05

Thank you for calling out the bs of the fake financial gurus on YouTube who only want to sell you their course. I appreciate your genuineness.

99
@BaliBrit 2022-09-05

Its delayed gratification rather than passive income, you need to work hard for decades and invest as much as possible to build a portfolio that pays for your life style

52
@speedendurance 2022-09-07

Remember, in the Gold Rush, the only people who made 'real' money were the folks selling pics & shovels.

38
@DewTime 2022-09-10

I 100% agree about the “company it keeps”. The passive income mantra attracts a ton of scammers and borderline scammers. Like sure their course might be legit, but you don’t necessarily need to buy a course to learn what they’re trying to teach.

34
@gersonadr2 2022-09-05

Passive income = putting the work upfront, delayed repayments

22
@mstcrow5429 2022-09-06

Good to see "passive income" not being confused with not working.

11
@freeme905 2023-07-25

“Winter is coming, need to work” this simple thing says so much about the world.

2

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