What are some common mistakes people make with passive income?
An example of an AI chatbot conversation about common mistakes in passive income strategies.
What are some common mistakes people make with passive income?
Some common mistakes include not doing enough research, underestimating costs, and expecting quick returns.
Can you elaborate on the research part?
Sure! Many people jump into passive income opportunities without understanding the market or the risks involved.
What about the costs? What should I be aware of?
It's important to consider hidden costs like maintenance, taxes, and fees that can eat into your profits.
How can I avoid these mistakes?
You can avoid these mistakes by conducting thorough research, budgeting for all costs, and setting realistic expectations.
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