Almost all passive income sources take significant upfront input be it generating initial capital or your own time. Blogs don't start with sponsors, or viewers you have to write all those initial articles that get close to no views before anything starts accumulating and old articles begin generating passive income after you get a following for instance. There's no free lunch unless you inherit one or get some other type of windfall gain.
I have a big gripe with how people spend their time. People for instance invest all this time into trading, but they're trading such small amounts. That time would be better off invested into actually progressing in a career or advancing education to get additional letters next to your name that will allow you to generate a significantly higher bi-weekly pay cheque. What does it matter that you make 100% gains on your $500 dollar investment when your net pay cheque is less than 5K a bi-weekly. Spend the initial time logging education hours or whatever to get a high rate of return on your time then start logging the hours on researching investments to make that return on your time generate return.
I know that the above is a bit of a tangent but invest upfront time into yourself, so you can generate a high return starting earlier in life and then that money you get from investing in yourself will multiply far faster than trying to figure out how to generate small beans.
This is partly because I have friends who spend hours and hours on the internet daily or reading reddit or whatever trying to make a buck, meanwhile if they just got some type of designation via spending the same time studying their salary would jump 2-3x what they currently make. You start saving 10K + a month because you invested time into yourself you can start earning real passive income off that.
Perhaps Americans just don't have the same opportunities Canadians have though due to the stark differences in price of education or said reinvestment it to one's self.
"According to US News and World Report, the average cost of private tuition in the US for the 2018-2019 academic year was $35,676, with public, in-state tuition averaging to $9,716. Depending on which province you're in, the average tuition for Canadian students ranges from $6,653 (Ontario) to $2,172 (Newfoundland and Labrador)."
Lul
This post was edited by SBD on Apr 10 2021 11:59am