Finance for Physicians

Before You Buy Into Passive Income

Listen Later

Would you rather work for your income or get paid while you sleep? Before you buy into passive income, be aware of what you are getting into and understand the trade-offs.

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about the pros and cons of passive income for potential clients in medicine. Oftentimes, it can cause more harm than good.

Topics Discussed:
  • What is passive income? How is it different from active income?
  • Too Good To Be True: Why doesn’t everyone buy into passive income?
  • Two Forms of Income: Earn income from labor/time or assets/investments
  • Return on Investment (ROI): How you get income without earning it
  • Stocks/Mutual Funds: Most common forms of investing to earn income passively
  • Starting your own business involves higher return potential but greater risks
  • #1 Issue: Decision to pursue passive income with sole reason is to make money
  • Time Commitment: What do you want to do with your time? Live your ideal life
    • Links:

    Are You Thinking About Investing In Real Estate Syndications

    How to Use Real Estate to Build Wealth

    Contact Finance for Physicians

    Finance for Physicians

    ...more
    View all episodesView all episodes
    Download on the App Store
    Finance for PhysiciansBy Daniel Wrenne
    • 4.7
    • 4.7
    • 4.7
    • 4.7
    • 4.7

    4.7

    39 ratings

    More shows like Finance for Physicians

    View all
    Afford Anything | Make Smart Money Choices by Paula Pant, Personal Finance Expert | Cumulus Podcast Network

    Afford Anything | Make Smart Money Choices

    3,564 Listeners

    Money Guy Show by Brian Preston and Bo Hanson

    Money Guy Show

    3,242 Listeners

    Your Money, Your Wealth by Your Money, Your Wealth

    Your Money, Your Wealth

    801 Listeners

    Retirement Answer Man by Roger Whitney, CFP®, CIMA®, RMA, CPWA®

    Retirement Answer Man

    1,331 Listeners

    ChooseFI | Financial Independence Podcast by ChooseFI

    ChooseFI | Financial Independence Podcast

    5,153 Listeners

    White Coat Investor Podcast by Dr. Jim Dahle of the White Coat Investor

    White Coat Investor Podcast

    2,450 Listeners

    Stay Wealthy Retirement Podcast by Taylor Schulte, CFP®

    Stay Wealthy Retirement Podcast

    696 Listeners

    BiggerPockets Money Podcast by BiggerPockets

    BiggerPockets Money Podcast

    3,063 Listeners

    Bogleheads On Investing Podcast by bogleheads

    Bogleheads On Investing Podcast

    617 Listeners

    Sound Investing by Paul Merriman

    Sound Investing

    349 Listeners

    Money Meets Medicine by Doctor Podcast Network, Jimmy Turner MD

    Money Meets Medicine

    229 Listeners

    The Personal Finance Podcast by Andrew Giancola

    The Personal Finance Podcast

    1,417 Listeners

    The Rob Berger Show by Rob Berger

    The Rob Berger Show

    206 Listeners

    Personal Finance for Long-Term Investors by Jesse Cramer

    Personal Finance for Long-Term Investors

    164 Listeners

    Retirement Planning Education, with Andy Panko by Andy Panko

    Retirement Planning Education, with Andy Panko

    1,069 Listeners