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I wanted to open up my accounts a bit today and share with you 6 different income streams that I currently have in my life. From businesses that I own, to stocks and real estate, I share real numbers that will give you insight on the diversity of my “passive income” stream portfolio.
I say “passive income” with quotations, because there’s a massive misconception about passive income online, and especially here on YouTube, which is why I wanted to cut right to the chase at the beginning of the video, and throughout my examples, share not just the income, but just how much time and money was invested into these income streams.
Also, nothing is 100% passive income – there will always be upkeep involved, and maintenance included. For some, more than others, but unless you’re working in Hollywood or singing pop songs, true work-free, maintenance-free passive income does not exist. You can get to the point where you don’t have to trade 1:1 hours for dollars, but you’ll see just how “easy” that is in my examples.
They ALL require work, time, patience and focus. But they come with amazing opportunities, and incredible fulfillment in more ways than you can imagine, too – and no, I’m not talking about the laptop lifestyle, I’m talking about using your laptop to help people, and impact people around the world.
Timestamps for your convenience below:
#1 – 3:31 – My First Business (Information / Digital)
#2 – 6:57 – Affiliate Marketing (Recommendations / Commission-Based)
#3 – 8:34 – My (Newbie) Real Estate Portfolio
#4 – 10:59 – Stock Market (Including How Much TSLA Made Me Today)
#5 – 12:43 – Amazon (Physical Product / Invention – Based Business)
#6 – 15:09 – Platform / Audience Based Business (i.e. Podcast, YouTube, Blog)
Links to stuff I mentioned:
My First Business – http://www.greenexamacademy.com
How to Passive Income with Affiliate Marketing: https://www.youtube.com/watch?v=Nhaw1GN5L0k
Switchpod: http://www.switchpod.co (also on Amazon – affiliate link:)
For Stocks, I’m using ETrade (in case you were wondering). And if you’re interested in starting a podcast, definitely check out my how to start a podcast series here:
Subscribe to this YouTube channel:
Want to learn more about the smart way to make money online and start a successful online passive income business (without ripping people off or being dishonest)? Then make sure to visit the Smart Passive Income getting started page below:
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Passive Income Ideas Podcast, 6 "Passive Income" Streams (and the TRUTH no one wants to tell you).
Develop Numerous Steams Of Earnings From Your Core Product-Service
So you have regular income coming in all the time to keep you afloat. You might also get traffic from other sources, like material you produce. However nothing beats passive income.
6 "Passive Income" Streams (and the TRUTH no one wants to tell you), Enjoy top full videos relevant with Passive Income Ideas Podcast.
Web Business: 5 Simple Ways To Earn Money Online
Without a doubt, anyone can plan a system that can be helpful in passive income streams. It’s as simple as this then simply wash and duplicate till you reach your passive income objectives.
Generating passive income streams from your blog site is an excellent way to supplement your online activities. Blogs are an excellent way to get direct exposure for your item and can also be utilized as a lorry to promote a whole host of online company endeavors. There are examples of passive income generation that require hard cash investment in advance, while other concepts don’t need any costs whatsoever. This short article is going to highlight a method using your blog site that requires no capital whatsoever.
You can develop passive income sources if you are ingenious. When you get income without doing any work, a passive income is. A lot of income sources need that you do some work to start it off, but as soon as it is running you can keep some income sources with really little work.
One of the finest ways to develop passive income streams is to start a network marketing company. However, not all of them are the very same. You desire to sign up with a chance that offers you several opportunities where you can produce cash without having to work from sunup to sundown on business. My online shopping company permits me to make money doing something I like while offering me the time to spend with individuals I like.
I make sure by now you may be asking your self, what does all this involve passive income ideas? Stay with me for a sec, due to the fact that this is going to Blow You Away and the light bulb will come on, (if there’s any power on) if you know what I imply!
They also require to make certain that they market each services and products well to bring in many customers. As experts would say, online web marketing is among the simplest and most steady company plans that can produce hundreds of income.
One way to do that is with vending devices. Purchase some vending devices, fill them with stock, secure an area for them, and let the cash roll in. Yes there are some steps included there, as well as some in advance investment, but there are individuals out there who make an excellent living with this. There is also maintenance included as you either have to equip the devices and gather the cash yourself or pay another person to do it. However it’s an idea; a system that can be scaled out to produce alternate income.
This detailed pattern of back scratching and increasing income streams through associated products is not unethical in the least. However you ought to understand it and keep your credit card in your pocket unless you have a present and clear requirement for a product. Indeed, as you advance in your web marketing company, you will take advantage of as numerous of these money making methods as possible. Keep in mind, the holy grail of the internet marketer is to develop passive income streams. Earnings which does not need an excellent deal of hands on management. Anything else is simply trading one employer for another.
I make sure you do and that is the primary reason that you’re taking a look at this short article today. There are passive income ideas based on valuable skills, such as writing. Know you desire to purchase a cars and truck in 12 months?
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