When you work in the personal development space, you run across a lot of charlatans. It’s not hard to understand why. If you’re looking for advice on how to improve yourself, you’re saying you’re willing to trust someone.
It’s a sad reality, but there will always be vultures out there looking to scam anyone who makes the mistake of trusting them.
One of the most common scams these people advertise is the promise of “passive income.” I don’t put passive income in quotations because I don’t believe in making your money work for you—I “retired” from Goldman Sachs at 29, I understand investing. I put it in quotations because most passive income schemes are scammy nonsense designed to prey on insecurity and ambition.
I get it, money is important, and having more of it is nearly always a good thing. But what is it specifically about passive income schemes that is so attractive? If you’re interested in making your money work for you, there’s the whole world of finance and investing for that, so why the fascination with the “side hustle” and building “passive income streams?”
It’s because passive income schemes aren’t speaking to your desire for greater wealth, they’re targeting a different part of you entirely. To really understand this, ask yourself these three questions.Continue