The Myth of Passive Income, and Why It Won’t Make You Wealthy

The Tai Lopez Show is now available on Soundcloud. Check it out here: Soundcloud.com/TaiLopezShow “You will almost never build wealth through passive investment and income” - Tai Lopez (click to tweet) Passive income, and the power of it, is one of the most pervasive myths in modern culture. Many people think that passive income is what is going to eventually bring them real wealth. But look at the Forbes list! None of those people created wealth exclusively through passive investment and income. Those who make the most and become the most wealthy are those who are willing to be active in their investment, and to put in the time and effort required to build the kind of wealth they are looking for. On this episode I’m talking about the confusion and misinformation around passive income, how strong a motivator status is, why traditional schooling is holding so many people back, why you should set up multiple bases around the world for your business, and why life is a set of battles you should be willing to lose in order to win the war of having the ultimate good life. “Focus on winning the war of living the good life. Battles are insignificant. Withdraw if you need to” - Tai Lopez (click to tweet) Points to Keep In Mind Status is a strong motivator, and social media is playing a larger and larger role in status in the modern age The earned respect of peers is powerful If entrepreneurship and business could be integrate in traditional education, it would prepare people far better for the world Traditional schooling can really hold people back Consider setting up bases around the world for your business if you are at that level Couch surfing and visiting short-term is often not as enjoyable a way to go to places You will almost never build wealth through passive investment and income Focus on winning the war of living the good life. Battles are insignificant. Withdraw if you need to If you’re testing products, you need to be willing to give up very quickly if it doesn’t convert as well as you would like it to You want to get to the point with your business where you only need to put 3-4 hours a day into it