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Welcome to this session of grand rounds, a collection of posts I have discovered in the blogosphere and have found of interest and hope you do too.
This offering of Grand Rounds looks at articles from around the web that deal with passive income generation.
When we work 9 to 5 at our job, we are rewarded with money.
Money is therefore a symbol of our time.
But what if we can flip the script and have money work for us?
That is the beauty of creating passive income streams and the method I employ to achieve financial freedom.
Debt Free Doctor lays out a blue print how you too can establish passive income in, “7 Steps- How to Make Your Money Work For You.”
Passive income is great, but not all income streams are the same.
When analyzing a potential income stream you should look at the risk involved, possible tax consequences, and the degree of difficulty to set it up.
Fortunately Financial Samurai has done all the heavy lifting for you in, “Ranking The Best Passive Income Investments.”
Is passive income truly passive?
It takes initial work to set it up, and some streams even require ongoing work to keep the cash flow flowing.
The Prudent Plastic Surgeon suggests we should call this Leveraged Income instead.
He discusses his view on passive income in, “Can You Actually Achieve Real Passive Income?”
For my physician readers you might be asking yourselves why bother with passive income at all.
Sure physicians make great and fairly reliable income.
In the past you can certainly have a long career and achieve financial success without any need for supplemental income.
Well those good ole days may be over.
Passive Income MD discusses this in, “Why Creating Additional Income Streams is No Longer Optional.”
It is not uncommon to encounter contrarian views on any topic, and the topic of passive income is no exception.
Rather than summarily dismiss these contrarians, I listen to them and try to analyze the points they are trying to make.
If you do not expose yourself to counterarguments you run the risk of being in an echo chamber and only hear what you want to hear.
I therefore present Smart Money MD, who takes a contrarian viewpoint of passive income in his article, “Passive Income is a lie.”
Hope you enjoyed the reading material.
Have a great rest of the week.
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