What We Get Wrong About Passive Income [Video]

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Passive income seems like a financial dream come true. The ability to make money in your sleep and have multiple streams of income with little effort is definitely money goals, especially as inflation is making everyday life more expensive.

But the term “passive income” can be a bit of a misnomer. According to Melissa Jean-Baptiste, who used a side hustle selling lesson plans to help pay off $100,000 in student loan debt, there is a catch. “There tends to be a huge initial investment on your end,” she writes in her book, “So … This Is Why I’m Broke.”

Jean-Baptiste learned for herself that “creating a stream of passive income is hardly ever simple or passive.” She writes, “One of …