Just wondering as internet “gurus” on platforms like youtube annoy me.
Also i want to someday earn money without having a job or where i am my own boss, but im young and have next too no money, and i have no talent. ive tried the “simple” ways to get a grasp of learning. Ive tried free methods like surveys, games, ebay selling, etc, but i find that those are a waste of time/effort for me atleast and im lucking to break even. I struggle to even learn new things, school pretty much failed to teach me the right way of life.
I feel lost at life right now.
And 5 million is more than most people will make in their entire lives. So for the average person who won’t get a multi-million dollar loan/inheritance from mommy and daddy, passive income doesn’t exist
…which is a completely different argument than what you started with. You’re blatantly moving the goalposts.
You don’t need a multi-million dollar loan/inheritance to retire with $5 million. You need substantially less and the time for it to compound. A person retiring today with nothing but boring a passive S&P500 investment of $50,000 and 40 years (average working years length) in 1985 would have $5,508,666 right now without ever making another contribution than the first $50k. That’s even going through all the financial downturns during that span of 1987 Black Monday stock market crash, Dotcom bubble burst, 9/11, Great Recession, and COVID.
I’m not disagreeing that most people don’t have $50k when they turn 18 to put into retirement, but I wanted to point out the power of the passive part of this that it only takes $50k with no other action but time to retire with over $5m.