We’ve heard all this talk about passive income over and over. But just why is creating a passive income so important?
“I would rather earn 1% off a 100 people’s efforts than 100% of my own efforts” – John D. Rockefeller
Wikipedia provides the question to just how parasitic a passive income is “The concept of passive income evokes controversy from a moral standpoint, being considered parasitic (not producing, but benefiting from the work of others), as well as from economics perspective, as being unrealistic on a universal scale, or utopian. If everybody lived of some sort of passive income, how would things get done and produced?”
In many instances this is true since if no one worked and all lived off passive incomes, how would anything really get done? For now, we’ll always need people killing cattle, farming vegetables, delivering products, producing the entire process that is life. Perhaps in the far out future we could have that “utopian” society where no one works and we all have machines do the bulk of the labor for us. But until then, people need to work, and there is nothing wrong with that.
