Identifying Fake Passive Income Schemes

Monday – February 13, 2023

Welcome to today’s edition of the Dumbass Newsletter! This is day 17 of my attempt to send a daily email newsletter. I’m still pushing the boulder (another euphemism), as they say… Let’s go!!

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The Content

The Difference Between Active Income And Passive Income

Active income is defined as any income generated that requires your consistent time and energy. Examples of active income include a salary or hourly earnings or commissions earned from working a job.

Passive income can be defined as income received on a regular basis, with little or no effort required to maintain it. Examples include dividend payouts from investments, rental income from property owned, or retirement income (like Social Security, 401k disbursements or a regular pension payout).

If you search YouTube or Google for “passive income” – you’ll find lots of guru’s out there teaching various ways to make money under the guise of passive income. By the very definition of the term – many ways to earn extra money are simple that – ways to earn extra money. They are not all “passive income!”

Yes – you typically need to earn active income in order to create passive income. However, it’s very important to know the difference between active income and passive income.

For example… my passive income strategy that I’m currently working on involves growing the audience to my blog and my newsletter. I am very much active in my efforts to produce content and grow the audience… with the hope that it will eventually transform into more of a passive income source for me.

I am not stupid or naive, claiming that any money I earn from my blog is passive income. Not at this point anyway. Sam, from Financial Samurai, has a similar take in one of his latest blog posts…

https://www.financialsamurai.com/difference-between-active-income-and-passive-income/

The Quote

“He who makes $25,000 annually through passive income is more enviable than he who earns $100,000 annually through a salary.” ~ Mokokoma Mokhonoana

See more inspirational quotes like this on the Dumb Passive Income Facebook Page

The Humanity

Woman Loses Half a Million Dollars After Refusing to Tip for Pizza – Her Server Has the Best Response

Karen Vinacour and her daughter felt as though a tip wasn’t warranted during their 2019 visit to a New York pizzeria, however. But when Vinacour accidentally left her life savings on the table, she definitely had second thoughts about her decision…. (Read the full story here)

The History

On this day, in 1945…

The firebombing of Dresden on February 13, 1945 during World War II was a devastating event that resulted in the loss of over 25,000 lives and the destruction of much of the city. On that fateful day, British and American planes dropped over 3,000 tons of bombs on the city, causing widespread fire and destruction. The bombing of Dresden remains one of the most controversial events of World War II and continues to be remembered and mourned today. (See the rare photographs and read the full story here)

The Opportunity

YouTube TV

I “cut the cable” and switched to YouTube TV recently. I’m loving it! You can try it for $15 OFF if you use my referral link here. In fact, I watched the SuperBowl last night via YouTube TV and it was great! I love the simplicity of the remote and I couldn’t live without the voice control button (push the button then say a voice command, like – “play the latest disc golf video by Jomez Pro on YouTube”).

Personal Capital

Get a clear path to your financial goals. Personal Capital offers free financial tools, for everyone. Get your free tools.

The Participation

Let’s get social!

Feel free to join on the platform of your choice…

• Facebook – follow for daily inspiration and motivation
• Twitter – Matt’s sporadic updates
• Reddit – subReddit for discussions

Do you have any interesting thoughts, ideas, articles, resources, or anything else you think would be appealing for this audience? I’d love to hear about it. Hit Reply to this email or fill out the contact form on the blog.

Thank You for reading today’s newsletter!

Matthew Allen

Matthew Allen is a full-time trucker, part-time blogger, and imaginary entrepreneur. He's probably not the only trucker who calls himself a dumbass. But, he is the only known trucker who is blogging about passive income."Might be crazy, but I ain't dumb!" ~ Crazy Cooter (also Matt's CB handle) 

Matthew Allen

Matthew Allen is a full-time trucker, part-time blogger, and imaginary entrepreneur. He's probably not the only trucker who calls himself a dumbass. But, he is the only known trucker who is blogging about passive income."Might be crazy, but I ain't dumb!" ~ Crazy Cooter (also Matt's CB handle)