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Passive income a Trap.
There are many youngsters looking to create a passive income, it's not a good thing to look at when you are accumulation phase.
Passive income is for someone who is in the distribution phase, at old age when you are retired.
Those who focus on passive income during the accumulations phase face 2 destructive things.
1. Focus on passive income distract them from career path.
(They want to become comfortable in life which is worst at the growth phase of career. - just look around you will find many such examples where people failed miserably in career and struggling help.)
2. The lure of passive income puts them in the trap of especially MLM or Direct marketing companies. (Keep in mind you can not generate the full-time income with part-time work.)
in the Accumulation phase focus on Wealth Creation.
There are few businesses that flourish because of this concept of Passive income and who invested majorly lost: MLM (Direct selling) and Real estate.
Do you agree?
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