41–50 of 300 posts
Earlier quoted context omitted.
In what way does buying a property and renting it create wealth? Isn't buying a property with the intent to rent it manipulation of economic conditions?
If you think buying a house and renting it out "manipulates economic conditions" you need to prove it because that's a claim, especially with regard to "manipulate."
Everything I'd want to do on a "side gig to iron out the kinks and then eventual business" basis is regulated to the point where that path is economically impossible and the only way to be in the black is to take out a big f-ing loan, quit your job and go all in on your new business. And it's not just me, all my buddies have this gripe. We've all got skills and experience and equipment outside our immediate careers a…
Earlier quoted context omitted.
"Rent seeking" has a specific definition* and it is not "I use large capital investments to generate regular payments". Buying housing with the intent of renting it is not rent seeking. This is Wikipedia, which is as good as most other definitions: Rent-seeking is the act of growing one's existing wealth by manipulating public policy or economic conditions without creating new wealth
[flagged]
They could've bought up the land and house and not improved it at all and depend on the housing crisis deepening for increased resell profit- but they did not do so, they maintained this house I'm in and ensured me and future tenants can continue enjoying this place. That's not rent seeking.
Got trapped in an Amway pitch in my teens and have been inoculated against such things ever since.
I wish Amway was bigger so more people would be exposed to it and be similarly inoculated.
This article has a narrow definition of passive income, limiting it to these low-barrier-to-entry schemes. Other parts of the FIRE world have emphasized being a landlord or flipping houses, for example. I personally made it happen by working a FAANG SWE job for 13 years, not getting sidetracked by the startup cult, saving and investing 70% of my after tax income, etc. And no I didn't get into crypto, but I still mana…
that might well be the first time I've seen "career" and "ethical" conflated in that way. I've definitely seen the people who think you're a fool and possibly a sucker if you chase short term wealth over career stability, and there's definitely a veneer of unethicalness clinging to the notion of get-rich-quick, but I cannot understand how "establish yourself in a career" is an ethical concern.
Passive income are just get rich quick schemes that were common decaded ago. I started a business like this, but it wasn't passive. I shipped everything to my office before inspecting and shipping product out. It lasted almost 10 years with 1 million annual revenue. It was not passive.
Sounds like you were running an import and distribution business. Not the same thing as drop shipping :) as the drop shipping people will joyfully tell you, “you’re not supposed to touch the product”
[flagged]
"Rent seeking" has a specific definition* and it is not "I use large capital investments to generate regular payments". Buying housing with the intent of renting it is not rent seeking. This is Wikipedia, which is as good as most other definitions: Rent-seeking is the act of growing one's existing wealth by manipulating public policy or economic conditions without creating new wealth
While that isn’t always true, honesty is a great defense against being enlisted in scams that promise easy money.