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Straight Talk About Passive Income by Gary Vaynerchuk

– [Man] Hello, Gary. – How are you? – [Man] I’m good thanks, you? – Great. (laughing) – [Man] I have a question about passive income. – Okay. – And I wanna know what kind of trends do you see for a person interested in that? I don’t wanna be stuck in an office nine to five for the rest of my– – Well passive income comes in two forms.

97% of the form is the douchiest, shittiest thing on Earth. And 3% is the tried-and-true thing that has actually created passive income in the history of mankind. So let’s find out which side you’re on.

How are you thinking about, when you say passive income, do you mean some, what do you mean? – [Man] I mean not having to work all day long. (crowd laughing) I wanna be on a beach in Mexico instead of being in an office in Sweden in a cold November.

(laughing) – Are you being serious right now? (swooshing sound) – Yes yes, I’m serious. – Okay. (laughing) (clapping) The quickest way to not be on a beach in Mexico is to think that passive income exists.

It’s a bad mindset, I really believe that. I think the reason so many scumbuckets are making so much money is ’cause you’re buying stupid fucking courses over and over, thinking there’s some fucking magic formula for passive income.

Passive income looks like this. You take money that you can afford to go to zero and you put ’em in the two places that have historically created passive income. Public markets that you don’t care if it goes up and down and you’re just waiting to the end, or real estate and you hope that your real estate area doesn’t get crushed.

Everything else almost doesn’t exist. – [Man] I’m thinking more of real estate because I’ve been involved in it in Sweden. – Love it. – [Man] And for all the Danish people, the government is very restricting on creating a real estate business.

A lot of taxes, it’s really hard if you don’t have the money in the beginning. – So shouldn’t you work your face off to get money, not buy dumb shit like a watch, and then put it into the real estate.

(laughs) – [Man] Yes, I should. (laughing) – Okay. (crowd clapping) Look, look, you know, and I think you know, and I’m happy I could see your energy. I’m so passionate about this issue. There are people that are ripping people off at the level of hundreds of millions of dollars because they’re selling this dream because they made a video with pretty girls and a beach in the background and are making people spend a thousand, two thousand, it’s breaking my heart.

Passive income doesn’t exist, and anything that starts with I don’t want to work is already a problem. What you need to do is, I understand I don’t wanna work in an office or something I’m not passionate about.

The best way to make money is to make less money than you’re making now, enough to still live, ’cause you gotta live, around something that does interest you because you wake up eight years later and something good is actually happening.

So it’s not the, everybody wants to make it the extreme of, I’m sitting in my job, I hate it, this sucks, all the way to beach in Mexico. But there’s a real in between, which is why I wrote Crush It!, which is, at night, when you’re done with your shit job that is paying for the life that you have to live right now.

A, you don’t take some of that money and buy dumb shit like 17 beers watching the World Cup. What you do instead is you work on something on the internet that costs you nothing to start, save all those dollars, build something for yourself over seven years and then transition from the shit job to your own business.

That’s passive. (laughing) – [Man] Okay, thank you. (crowd clapping)

Source : Youtube

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