Is ‘Passive Income’ Legit? 🤔

Is passive income legit? Is it for real, or is it a hyped-up scam? You have to work hard enough not to have to work hard. You have to set in order to forget. So I'm going to discuss really briefly if passive income is legit or if it is a scam. Now, there's actually only one correct and accurate answer, and that is: it depends. So if someone is selling you, press the green button or press the red button, binary options trading, and you can be rich by pressing a red button or a green button, That's likely a scam. It's likely too good to be true. However, some people are so skeptical and they think that everything is a scam that they never actually truly unleash their earning power. So let me ask you this question. Have you ever heard of the band Slade? Give me a yes if you've heard of the band Slade, who wrote the very famous Christmas number one. Maybe you're even screeching "It's Christmas" in your head. Well, do you know that Slade wrote the Christmas number one in the early 1970s? And do you know that makes them over half a million pounds every single Christmas without fail. Now my question to you is, is that income of more than half a million a year every single Christmas without fail, is that passive income? What do you think? Some people say, well, no, no income is truly passive because you have to write the song, you have to get good at writing music, and that could take many years. In some ways they are true. However, once the song is recorded and released, then surely everything after that, if they don't have to go and gig and tour around the world, surely everything after that, is it not passive income? So let me know what you think, by the way. I mean, Christian has said if it's taxed, it's passive income. But Christian, I would also add if it's taxed, is active income, and if it's taxed, is any income. Now the reason passive income is so polarising is because everyone wants it. Like, let's be honest, if you could sip piña coladas in your bikini, looking over the horizon of a beautiful sea and sunscape, doing fuck-all but pressing a red button or a green button once a day, Let's be honest, the human psychology wants the shortcut, wants the cheat. So we're all somewhat allured on quicker, easier, faster. However, often people say, if it's too good to be true, it's too good to be true. But Richard Branson says, if it seems too good to be true, it's an opportunity. So there's no income, active income, and passive income, and all are actually possible. So if you're working for it, it's not passive income, and that's not necessarily a bad thing. I do paid keynote speeches. I still do some manner of work. And by the way, everyone has their price and their fee. I'm not the guy that says, 'Oh, you're exchanging time for money.' You know, you're a loser, you're a loser, quit your job, sack your boss. If you want to be a winner, make passive income. No, like, I know what my hourly rate is, and if I get paid it, I'll happily have active income. But the great thing about passive income is you don't have to rely on your work, your hours, your input, and your energy. And what I've generally found is there's only one way, only one way to create truly passive income. And I'll finish the video on that, I'll talk about that in a moment. But sort of let me know what your thoughts are, by the way. Is there any type of income that's truly passive? Do you believe, um, in that there is any model or investment or business that's passive, or do you think it's just a scheme and a scam? Because generally when it comes to passive income or selling it hard, Usually it's the thing that people are selling that's passive income is making the person all the money, but not always, by the way, because I actually have 9 different income streams, and I would say at least 5 of them are truly passive to me. They really are. However, I had to set to forget, and I had to work hard enough not to have to work hard. So The one way, the single way that you create passive or recurring income— have any of you guessed it yet, by the way? Put it in the comments. It's not through work, it's not through labor, it's not through earning, it's not through schemes and scams and snake oil and get-rich-quick. It's through building assets. The only way to get passive income is to have assets. Now, do you have to build those assets? Yes, that's the set part to forget part. However, Slade are still earning nearly 50— no, more than 50 years later. They get paid more than half a million a year, every single year. Mariah Carey makes millions from her Christmas number one. You know, bands make money from their back catalog that they wrote 20, 30, 40 years ago. Authors make passive income. I am— dear friend of mine is Mark Victor Hansen. He wrote Chicken Soup for the Soul way back in the, what, '80s stroke '90s, one of the early massive smash hits of personal development. And he has co-authored 300 books, many of them ghostwritten or mostly written by others, and he sold half a billion books. Even if he only made a dollar a book, that's half a billion dollars. Now, is the income from all of his books active or passive? It's actually passive. Is the income from the royalties from the music of Slade and Mariah Carey active or passive? It's actually passive. So it is true that you can create passive recurring and residual income, but the golden rule is you need assets. Now, and what kind of assets then? That's the question. What kind of assets generate passive and recurring income? Number 1 assets that are evergreen, i.e., they don't go out of date. So a Christmas number 1 will never go out of date, and 100-year-old Christmas number 1s will be continued to be played. So it's an asset, it lasts over and over, it's evergreen and could last years or decades. Think and Grow Rich still makes millions of pounds in book sales a year that book was written 90-odd years ago because it doesn't go out of date. So if you're going to set up an asset, make sure it's evergreen, make sure it doesn't go out of date, make sure it doesn't have a lot of management and maintenance. So a property portfolio, if you have to manage it, is not passive income. A property portfolio that you don't have to manage is passive income. So I have 1,550 tenants that all pay me rent every month. And because I have a property management company that manages all those 1,500 tenants, and I don't manage the management company, my business partner does, all my real estate income is truly passive to me. But it's not passive to the person who has to manage their property. So assets that are evergreen, that have low management and maintenance time and cost, These are truly passive income. So I've written 18 books, and yes, I had to write the book. That was the setting of the asset. But once the book is on Amazon, that's the forgetting of the asset, and then it becomes passive. And then what you do, if you're really smart, is you double, triple, quadruple, or quintuple down on the asset to have multiple streams of passive income from one asset. And let me tell you how I've done this. I built a real estate portfolio, 20 properties in year 1, 30 in year 2, 50 in year 3, and that was sweat. That was work. I worked hard. It only really became an asset that produced passive income once I got a property management company that managed those properties, and then I had a business partner who managed the property management company, and then I could forget those assets that I set, and then they became recurring income and passive income. And then I doubled down on it by writing a book on property. And then I tripled down on it by building a training company around property. My training business does £12, £15, sometimes £20 million a year, and most of those courses aren't delivered by me, so it's mostly passive income. Then membership sites, then audiobooks from the paperback book. So in 2008, when I wrote my first book, it was only a paperback book. And then when I did the audiobook on it, I doubled my sales, but it was the same asset. Then when I launched a membership site— so I have rob.team— when I launched my membership site, the content's already done. I've had over 1,500 members join in the last 80-something days. The content's already done, it's in the membership site. So that's passive income. So hopefully you can see the difference between active and passive, between scheme, scam, and too good to be true, and actually physically possible. Now look, if you'd love to build recurring and passive income, I have something brand new for you. It's the Recurring Income Summit. So all you have to do is write yes in the comments now if you'd like some recurring income gifts from me. I've got a digital financial toolkit, 21 ways to save half your salary in costs, how to build assets that produce recurring income, pick the best asset types, the ones that are evergreen, And that's a digital financial toolkit that you'll get at the end of the event. And if you just type in yes in the comments, I'm going to share you the link. But just as good, if not better than that, is the Recurring Income Summit that's coming up in a few days' time. I think it's just under a week, so it's perfect timing. You know I said I'm dear friends with Mark Victor Hansen, who sold half a billion books, all assets that produce him passive income. Well, he's going to be speaking at the Recurring Income Summit. The founder of Netflix, the masters of passive income is going to be speaking— well, I'm going to be interviewing them at the Recurring Income Summit. So if you'd like a donated ticket from me— by the way, there is a premium upgrade option, so it's not, you know, you can get a free ticket if you want, but if you want to get, you know, a better seat and some more bonuses, there's also a premium upgrade. But, you know, if you want to try without risk or you don't have a lot of money, you can get the free ticket. There is a free ticket option. And I can see lots of people now writing yes. In the comments. Just write yes in the comments. I will share a link with you later. I'm actually about to do an interview with my hero of music, the best rock musician of all time in my opinion, my all-time favorite band. I'm about to interview him, so I'm a bit nervous. But if you write yes in the comments, not only am I going to give you access to the Recurring Income Summit, not only am I going to pay for your ticket, and I can afford to do this because I have a charity, the Rob Moore Foundation, But also you'll get a financial toolkit, a set of online resources from me after the event. 21 ways to save up to half your salary in costs in this soaring cost of living crisis. How to build recurring income from digital assets and multiple streams of income. So all you have to do is write yes in the comments and you can get all of this as a gift from me. I gave away 10 grand from my foundation last week and I'm going to be doing a lot more giveaways to help people start and scale their business. Get better financial education and knowledge, and create multiple streams of passive income, recurring income. So all you have to do to claim all of this off me is write yes in the comments now. So just write yes. Then if you wouldn't mind sharing this video— I can see a lot of you have written yes. Don't worry, I'll be replying soon. Um, so share this video because I don't think there's enough education out there on money and income and Right now, with the massive cost of inflation and the soaring cost of living crisis, you need passive income. If you don't have passive income, your earned income is getting wiped out. So if you wouldn't mind just hitting the share button, because I want to get these messages out to— well, I already do reach millions of people a month. I'd like to reach hundreds of millions of people a month. We reached 28 million people last month just on, on 3 of my main channels. So thank you to you all who do share my work. That really helps. So if you wouldn't mind sharing, and then if you want to claim some free financial resources from me to generate recurring income, passive income, residual income, a special live event with some people who've made tens or hundreds of millions in assets that's from recurring income, not occurring income, from residual and passive income, not work income. If you'd like to learn from all of these masters, just type yes in the comments. And at the end of that special recurring income summit, I'm going to give you access, and for free, to my digital financial toolkit, the brand new one, to help you not just survive but thrive in this soaring cost of living crisis. All you have to do is write yes in the comments. So let me know what you think in the comments. Is passive income real? Um, is it a scheme or a scam? Is it legit? What do you think about my answers on setting to forget Working hard enough not to have to work hard. But actually, if you create the right type of asset, evergreen, doesn't go out of date, digital, low cost, high reach, actually, like Slade, like Mariah Carey, you could be earning massive passive income for decades to come. Let me know what you think, and if you do want to earn massive passive income, get yourself educated. Type yes in the comments. I'll see you on the Recurring Income Summit coming soon. Thanks for tuning in. I've got my rock and metal, my most rock and metal jacket on. I googled, who is the king of progressive rock? And my next guest came up top. Woo! Better than Radiohead, Harry. Yeah, just put yes in the comments. I'm going to be sharing gifts with you.