To add more data, I've been successful (generating more than average salary in my area for programmers I think) in creating a small online saas business. I would say it's totally possible, but for me it took a lot longer than I think most people realize (4-5 years) from the beginning, where I had no programming knowledge whatsoever, to where I'm at now. I had to continue working my regular job and slowly transition into it.
Also I have a few other friends with similar bootstrapped businesses, and I can say I've never actually met anyone with true "passive income". I really enjoy the freedom and flexibility I have, but if I stopped working on my business it would eventually shrivel and die. Competition is fierce, and I'm in a commodity type business (basically online marketing/ websites for realtors) with several huge competitors and hundreds of smaller ones, so I'm continually trying to improve the software/ product.
I'm not in it to generate passive income, and I think starting with that goal in mind could be frustrating because as others have said, most passive income preachers secretly do a ton of work (think of how hard tim ferris actually works, every single day). I'd reiterate what others have already said, just treat it like learning to program, realize it's going to take a long time, and steadily improve on it. The goal for me is freedom to do or make what I want, flexibility, financial security, and to have my efforts tied directly to my success.
Also I have a few other friends with similar bootstrapped businesses, and I can say I've never actually met anyone with true "passive income". I really enjoy the freedom and flexibility I have, but if I stopped working on my business it would eventually shrivel and die. Competition is fierce, and I'm in a commodity type business (basically online marketing/ websites for realtors) with several huge competitors and hundreds of smaller ones, so I'm continually trying to improve the software/ product.
I'm not in it to generate passive income, and I think starting with that goal in mind could be frustrating because as others have said, most passive income preachers secretly do a ton of work (think of how hard tim ferris actually works, every single day). I'd reiterate what others have already said, just treat it like learning to program, realize it's going to take a long time, and steadily improve on it. The goal for me is freedom to do or make what I want, flexibility, financial security, and to have my efforts tied directly to my success.