The promise of hands-off passive income is a lie that costs investors money. You need active management and oversight to actually grow wealth, no matter how appealing the set-and-forget pitch sounds.
Passive income is the most profitable lie that this industry has ever sold you. The place where investors really come unstuck is they simply chase the shiny objects, the high yields, this idea of passive income without ever thinking that they actually have to be involved in how they're managing their wealth business. Don't get me wrong, I understand why the idea of passive income is so seductive already. You're probably already busy in life. You're busy in work, you're busy in business. You might have family. And just with all the pressures of everything else that goes on in life, It can just feel really easy. Ah, I'm just going to have this income. It's just going to be rolling in like rainbows and unicorns and it's all going to be perfect. I'm not ever going to have to look at it. And that just feels like an easy path to take.
