I don’t because I’m not working in the US but I do have a retirement fund. I can critize the system we live in and those that revel in exploiting it while also realizing that if I completely eschew investment I’ll be a pauper. I’m not going to bankrupt myself and be unable to afford my partner’s medical expenses to win an argument on the internet.
I’m aware that the stock market is slicing off income from laborers in an unjust manner - it slices off my income as well… I don’t celebrate participating in this system, but I do participate in it while acknowledging how bad it is. It isn’t a significant portion of my income and if I could personally will it out of existence I would.
It’s a critical element of the financialization of the economy that has lead to it becoming even more irrational and unstable than it was before. Easy example, look up stock buybacks. It’s not just that though, it’s the entire system of obligation to shareholders to deliver quarterly gains with no concern for employees or even the long-term health of the company.
What if I did a bunch of work in the past and I am still getting income from that work, even though I do almost nothing to keep that income coming in now?
I make about $1k a month absolutely, completely passively from Amazon. I’ve put in maybe 30 minutes in three years. When I tell people this, they see that passive income is real.
Then I tell them about the years before that, where I spent every second I had making shirt and book designs. I had made a single sale early on and I saw the potential, so I sunk every godforsaken hour I had to spare (I also worked full time) designing and uploading, researching, networking, and pushing. I gambled, grafted, and earned it.
It’s absolutely worth the investment, but I only know that now. Back then it was an insane gamble - hundreds of hours of proper work for ???. I stop telling people about my ‘passive’ income now because no one wants to ruin the dream of freeeee money.
“Passive income” if you describe yourself as having a passive income, I want nothing to do with you.
Passive income is a myth - all income requires labor… if you’re getting income without putting in labor then you’re stealing someone else’s income.
Do you have a 401k?
I don’t because I’m not working in the US but I do have a retirement fund. I can critize the system we live in and those that revel in exploiting it while also realizing that if I completely eschew investment I’ll be a pauper. I’m not going to bankrupt myself and be unable to afford my partner’s medical expenses to win an argument on the internet.
I’m aware that the stock market is slicing off income from laborers in an unjust manner - it slices off my income as well… I don’t celebrate participating in this system, but I do participate in it while acknowledging how bad it is. It isn’t a significant portion of my income and if I could personally will it out of existence I would.
I think the stock market is fine. It allows the people to own a bit of the companies they work for and buy from.
I don’t see anything wrong with that in theory.
It’s a critical element of the financialization of the economy that has lead to it becoming even more irrational and unstable than it was before. Easy example, look up stock buybacks. It’s not just that though, it’s the entire system of obligation to shareholders to deliver quarterly gains with no concern for employees or even the long-term health of the company.
I get about 30 dollars a month in Interest in my savings account. Is that not passive?
The bank is investing your money into the economy. And the economy is growing because of people’s labour.
deleted by creator
You live off of $30 a month?
deleted by creator
What if I did a bunch of work in the past and I am still getting income from that work, even though I do almost nothing to keep that income coming in now?
I make about $1k a month absolutely, completely passively from Amazon. I’ve put in maybe 30 minutes in three years. When I tell people this, they see that passive income is real.
Then I tell them about the years before that, where I spent every second I had making shirt and book designs. I had made a single sale early on and I saw the potential, so I sunk every godforsaken hour I had to spare (I also worked full time) designing and uploading, researching, networking, and pushing. I gambled, grafted, and earned it.
It’s absolutely worth the investment, but I only know that now. Back then it was an insane gamble - hundreds of hours of proper work for ???. I stop telling people about my ‘passive’ income now because no one wants to ruin the dream of freeeee money.
You’re literally telling us that you did actually put in a ton of labour, so it’s not completely passive
That’s why passive was in quotes.
FIRE these dipshits straight into the fucking sun.
How is interest labour?
Where do you think interest come from? Do you think banks just give you free money every month?
Yes. Capital isn’t Labour.