2995: [Part 1] Passive Income and Other Money Myths by Leif Dahleen of Physician on Fire on Side Hustles

Optimal Finance Daily - Financial Independence and Money Advice

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Episode 2995:

Dr. Leif Dahleen challenges the concept of passive income, illustrating how many success stories labeled as "passive" are far from it. From real estate to blogging, he highlights the substantial effort often hidden behind these narratives, debunking myths around dividend investing, side hustles, and more. This eye-opening critique urges readers to rethink popular financial advice and to focus on realistic financial planning.

Read along with the original article(s) here: https://www.physicianonfire.com/money-myths/

Quotes to ponder:

"There is no shortcut to success. I worked many early mornings and late nights on my side hustles, especially early on."

"What she’s earning is active income. Blogging is work. It’s flexible and fun work, but I doubt there were many weeks where I didn’t spend at least 20 hours doing something."

"Yes, it can be profitable, and some of the work can be outsourced, but it’s way too much work for the word 'passive' to be anywhere near it."

Episode references:

NIIT Tax Information: https://www.irs.gov

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