The Myth of Passive Income

All income, even “passive income” is and must be active.

Eric Kim’s perspective on passive income is quite distinct and revolves around the idea that passive income is a myth for the majority of people. He challenges the popular notion of financial freedom being achieved through passive income, instead emphasizing the importance of active income. Kim believes that in America, financial freedom is more likely to be achieved through active income, which he views as superior oai_citation:1,Why Passive Income is a Myth – ERIC KIM.

Kim extends this view to his thoughts on retirement, where he expresses a preference for active income over passive income. He finds active income more engaging and aligns it with his personal philosophies and life experiences. This perspective reflects his belief that the concept of passive income as a route to financial freedom and comfortable retirement is overstated or misunderstood oai_citation:2,ERIC KIM THOUGHTS ON RETIREMENT – ERIC KIM.

Additionally, Kim addresses the broader issue of how people relate to money, particularly in the context of self-esteem and self-worth. He suggests that a major problem, especially in American society, is the tendency to quantify self-worth through monetary achievements. This view ties into his broader philosophy on money and income, where he suggests that the desire for wealth is often less about accumulating a specific amount and more about the ability to spend and enjoy that wealth. He illustrates this by pointing out the difference between having a million dollars and the ability to spend a million dollars oai_citation:3,How to Retire – ERIC KIM – EK oai_citation:4,Money Thoughts – ERIC KIM.

In summary, Eric Kim’s views on passive income and financial freedom are rooted in a preference for active income and a broader critique of how society values and relates to money. He challenges the conventional wisdom around passive income, suggesting that active income is more critical for financial success and personal fulfillment.