I Make $1,613 In Passive Income Every Month || How to Make Passive Income

Published on November 13, 2020

Top videos about lifetime residual income, world internet summit, internet marketing tips, residual income, and Ways to Obtain Passive Income, I Make $1,613 In Passive Income Every Month || How to Make Passive Income.

In this video, I break down exactly how I make $1,631 (yes, I made a mistake in the video and said $1,613… lawyers are bad at math…) in passive income per month with proof of my income sources.

Now I am not trying to brag. There are so many people online who can show you how they make so much more than me. I am just trying to be honest because I loved watching people talk about how to make passive income. I am incredibly grateful to have any amount of passive income.

Here are my sources of passive income and hopefully these can be some passive income ideas for you:

Real Estate – $500 passive income.
I own a share of three apartment complexes totaling 450 units. This brings in around $500 per month.

My full time job is working in institutional real estate acquisitions. We buy, renovate, and sell multifamily investment properties. We look for properties where rents are well below where they could be. We get money from insurance companies, pension funds, and individual investors (like myself).

I invest in our funds. About two and a half years ago, my wife and I invested $68,800, which at the time was close to all the cash we had.

YouTube – $200 passive income
I started a YouTube channel earlier this year to have some fun. I didn’t really expect to make any money from it, at least not for a long time. To my surprise, I started to make some money off my YouTube channel.

Now, this is quasi-passive, since I must first make the content to make money. But when my video is uploaded, I don’t have to do anything.

I liken this to having to make money first in order to get passive income from real estate. And doing YouTube was way easier than saving up $68,800 for real estate investing.

Now, I get that this revenue will fluctuate. But my goal is to increase this passive income over time and next year to have it be a substantial amount of regular, recurring money.

Affiliate links: $800 of passive income
Third, and related to YouTube, is my passive income from affiliate links I put on my channel. My affiliate marketing income has a whole backstory, which I recommend checking out in my last video.

Check out my Affiliate Marketing for Beginners video here: https://www.youtube.com/watch?v=2FhdgPO4dgw

My income from affiliate links fluctuates, but I will estimate it at about $800 per month going forward. Some weeks i made more than $1,500, and some weeks I made around $700.

Affiliate referrals came mainly from my SoFi Money referral link, but also from my Discover It credit card and Chase Freedom Unlimited referral links. SoFi was around $50-$100 per referral, and discover is $50 and Chase is $100. These are all great products that I use all the time.

Discover It Credit Card: https://bit.ly/2kgiYXj
Chase Freedom Unlimited: https://bit.ly/2lO5pyO
SoFi Money: https://bit.ly/2PQk3Sj

My affiliate marketing started about six months ago and is completely passive income. I just put the affiliate link on my videos. I did this months ago and basically every day I got a referral. It was incredibly crazy.

Stock dividends – $108 of passive income

Dividend investing is a great way to make passive income online, but it won’t be fast. You need to have a lot of capital to make decent dividend income. For me, I have a few different areas where I keep my money. Some is in my 401k, some is in my Roth IRA, and others are in my brokerage account.

Most of my dividends come from broad based index funds, something I highly recommend getting if you are new to investing. I am not an investment adviser, and do your own research, but I invest in VTSAX.

With that being said, I do have stocks that do not pay dividends such as AMZN.

Bank Interest – $23 of passive income

Lastly, I earn about $23 per month in bank interest. I have a few high yield savings accounts such as SoFi, Wealthfront, and Ally where i earn around 1.7%-1.9% interest. This is completely risk free and FDIC insured. But it’s better than Bank of America, Wells Fargo, Citi, or Chase!

The power of passive income cannot be understated. For now, the amount of money is relatively small, but over time it will grow into a river.

The power of diversifying your income streams is huge. If any one of those income streams went down, I would still have a good deal of passive income.

Lastly, it’s a lot easier to build your passive income with work than with cash in today’s environment. Today we have historically low interest rates. The 10 year treasury, which is a proxy for the risk free rate, is less than 2%. If I were to try and purely invest my way to $1,631 per month in passive income, I would need close to $500,000 at a 4% rate of return.

What do you think? What do you do for passive income?

AFFILIATE DISCLOSURE: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and sign up. However, this does not impact my opinions and comparisons.

Ways to Obtain Passive Income

Ways to Obtain Passive Income, I Make $1,613 In Passive Income Every Month || How to Make Passive Income.

Residual Income – 5 Factors To Build One

So there are a great deal of expenses incurred right from the start. You do the work when, and enjoy the rewards on a continuous basis. Know you wish to purchase a car in 12 months?

I Make $1,613 In Passive Income Every Month || How to Make Passive Income, Enjoy most shared complete videos related to Ways to Obtain Passive Income.

Develop More Income Sources And Delight In Life

That does not change the reality that I am human! Much like anybody else! You are free to rest at any time you want. When starting on your student life with any student loan, whatever is a new experience.

Many individuals would like a chance to make money for really little work. It would be nice if all the work you did paid off frequently for the rest of your life with no additional work from you. While this might appear like a crazy concept, there are actually many methods that you can make passive earnings on a monthly basis. This is just earnings that comes no matter what you do, and needs no effort to preserve. It might feel a little like getting cash for free, although you should make wise financial decisions or an initial investment to get the cash. Below are some methods you can make this kind of earnings.

If you are fortunate, you might have one main passive earnings source, e.g. from a website or book you are offering. The holy grail though, is to concentrate on having as many passive income sources working for you at the very same time.

It’s easy to construct passive income streams if you’re a web designer or designer. All you have to do is utilize the skills that you already have actually developed. Absolutely nothing brand-new. Below are some examples of what works for most individuals.

Absolutely nothing works along with word of mouth, do attempt it. Then, recommendations individuals on their food routines and how they must stay trim and make a great deal of cash on it. You can brand name yourself as a weight-loss master and boy, will you earn money! This is among the very best passive income ideas for the web.

A terrific example of this is where you have a membership website charging a fee of state $10 each month to gain access to it. If you have state 100 members you will get $1000 each month from the website. Now you would still get $1000 each month regardless if you worked the following month or not, presuming that 100 members still subscribed that is.

Remember, the more keyword rich material you produce, the more web real-estate you will own. More real-estate will equate into more traffic, more traffic will equate into more sales, registrations, etc.

These are just a few of the important things that you can do to construct your own passive earnings sources. When it comes to investing, there is no right or incorrect. The financial investments will either be ideal or incorrect for you, and you will either make or loose cash. The important thing is to start, make errors and progress. Discover what works for you and work towards your dreams.

As the owner of a website you can use to enroll with AdSense and permit ads to appear on your websites. This is not plagiarism, and in reality is done all the time. First of all, passive earnings gives you time freedom.

If you are finding exclusive engaging comparisons related to Ways to Obtain Passive Income, and homebased business, home based business, online streams dont forget to list your email address our email alerts service for free.

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