Today I’m, going to break down some different passive income sources that I’ve, been generating over the past few months, hopefully to help some people out. I kind of wish that I saw a video like this last year or two years ago, because then I would have a better understanding of how possible it is to actually earn passive income.
I generally try to avoid using the words passive income, because I think it’s kind of a buzz word kind of a catch word that a lot of people use without fully understanding what it actually is, because I feel as though there’s kind of this misconception that people view passive income as just like money falling from the sky and just growing on trees, but realistically being pragmatic.
That’s, not how passive income really works and that’s. Why some people like Gary Vaynerchuk don’t talk to lightly about passive income, because I think there definitely is that disconnect with people when they think about passive income.
It’s, not just money falling from the sky. It’s, not just totally free money. You’re, doing something upfront to then reap the rewards of that work or that investment later on down the road, so that’s.
What I want to kind of clear up in this video and I’m, going to show you some of the different sources that I’ve, been generating that are primarily passive income sources. We’re, not talking about anything that you might be doing actively what I might be doing with my cooking up some different things, but I want to bake this down for you.
If you’re new here to the channel, make sure you subscribe to the channel for more videos like this one, we try to help people make money, save money and just kind of build financial freedom and create financial freedom for themselves, because I think That’s, something that schools, don’t really touch on very often actually almost never, especially in high school.
I don’t, think I have learned anything about personal finance. I don’t know why they forced math and English and science on you, without even touching personal finance, which is kind of the root of a lot of people’s.
Issues throughout life. Financial stress can really cause a lot of issues. So hopefully, this video can help you out a little bit this. I’m, not making this video to brag or to sound conceited. It’s really just to show you what’s possible and kind of show that, like passive income, it is possible it’s not easy to achieve, but if you can’t achieve it.
It definitely is nice to have so I really do wish somebody made this video like two years ago, and I watched this video two years ago, because I think it would be helpful so for you, people out there who would find this to be helpful.
Good luck and stick along. Hopefully this can help you out a little bit, so the first really source of passive income that I’ve, been generating actually turns out to be a YouTube ad revenue from this channel.
Now this was I didn’t really set out to have like the primary source of revenue from YouTube ad revenue, my kind of philosophy behind YouTube, and this channel is to try to provide value and not really follow the money so much, and hopefully That be more obvious: that that’s.
The way that I’m going because if I was trying to squeeze money out of people, I think I would probably be selling like thousand dollar online courses and just being sponsored and trying to just squeeze as much money out of this as possible.
But that’s, not really the route that I like to. Take this just not really Who I am, and hopefully that shows, if not, I’ll, try to show it more, but so it’s about fifty some hundred dollars per month between five and six thousand dollars per month.
In total from January, this fluctuates slightly, but it’s, pretty steady for the most part. Now, with this, it’s, it’s primarily passive, and the reason why I would say that is because I would say about 80 % on the revenue right here from January is actually from 2018 videos about 15 % of that is From 2017 videos, I didn’t make that money in 2017, but at least a few hundred dollars per month comes from 2017 videos that I made and then only about 5 % from actual 2019 videos.
Videos that I made in this particular month. So a lot of it is fairly passive, but the whole idea behind this passive income is look. You’re, putting something up front and that’s. The the misconception that people have that’s, a disconnect where they think it’s free money.
But realistically you’re, either putting time up front, which is what I did with some of these YouTube videos, or you’re, putting money up front. Sometimes there’s, a third option as well, but you’re either putting time or money up front so then reap the rewards of that work or that money input later on down the road.
So you really have to have an input to then get an output later, unless, like your grandma’s, giving you checks every month in the mail or something but other than that. You’re gonna have to put something up front and then get a reward later, so that’s.
What I did with this YouTube channel and it does feel fairly passive, but the thing is look because I didn’t really put much work into it. In January I was traveling I made like two or three videos. Maybe four.
I’m, probably gonna see the negative effects of that in February and in March and in April in thought 2019 for not putting effort into it in January in this particular month. So that’s, something I’m gonna see in the future that’s, something you have to keep in mind that’s.
Why YouTube is not 100 % passive income? It’s, not like a real estate investment that maybe you get into and then hire somebody to manage the property and then 10, 20 years later you’re. It’s. Very, very passive income in a lot of cases, if you have somebody managing the property, you can reap the rewards of that for a lifetime practically well with YouTube.
It definitely has a lifetime value and it sort of fizzles out over time. So you want to keep that in mind, but look not everybody wants to make Youtube videos. I didn’t really want to make Youtube videos either.
So if you don’t want to do that. There’s. Some other sources of passive income that anybody can do as long as you have like a couple dollars in your name or some spare time, then I’m, going to show you as well in this video, but these are just my personal experiences.
This is just what I personally do and, like I said, hopefully, this can just help somebody out watching this video, so the next one, the the next source of revenue, actually comes from Amazon Associates.
Now, what’s interesting about this, though, is that I would say about 75 % of this revenue here actually comes from old YouTube videos from like 2016 from these various other channels, I’m, probably half a dozen other channels.
I have like a few videos, each that are reviewing like laptops and certain products that most people don’t know about, because I kind of just look like a fool: it’s like 16 17. It’s like a couple years ago when I made these videos, but they’re, still getting clicks and generating revenue from this, and this is a fairly passive income source.
I would only say about 25% of this almost $500. Here comes from this channel Amazon affiliates. If you’re, not familiar with it, we’re, not gonna go too in depth, because I think a lot of people do know how affiliate marketing works.
But if you don’t, essentially I promote products on on like YouTube videos, for example, and then people will click on a link for like, for example, this video right here I’ll, probably have like a link to one of my Favorite books down in the description and then, if you buy something through that link, I get a few percent commission like it’s, a very low Commission.
But it’s kind of strength in numbers, strength and views, and especially when you’re reviewing products, product review channels can be really really popular and can generate a lot of cash because if you get like 10,000 views on a product review video – and you really persuasive about a certain product, you can make thousands of dollars from like 10,000 views and – and I’m being serious with that, because I’ve done that with a couple videos that I’ve had in the past, where I’ll, make a review about a certain product and Then tons of people will convert on that, like, for example, like a Wi-Fi router that I made on one of my other channels, and it got like a few thousand views.
But the conversion rate on that was really high, because people watch product reviews and then end up buying something so that’s, just something that brings in almost five hundred dollars a month. That covers the majority of my rent, which is pretty nice to have so that is one of the sources as well, but that is kind of tied to YouTube to some of my other channels, but it is fairly passive.
So now let’s. Get into the ones that anybody can really do. If you don’t wan na get into like the YouTube space, you can do a couple things that I still get passive income from, so one of them is dividend payments, so stock pay dividends.
If you’re, not familiar with that, I made some videos about dividend stocks in the past, but essentially a lot of different stocks will pay. You a certain percent like three or four or five percent as a total value of your stock for owning that company for owning that company stock, and so I have a dividend portfolio that I’ve, been growing since I was 11 years old.
I don’t know how in the hell, I ended up stumbling into investing in the stock market. When I was 11, I got really lucky that I was curious about it, and actually I pretty much at the bottom of the market.
2011 is really low at the time. So over the past about eight years or so I’ve, been building that up and and getting into it it was no, it was. It was more than eight years now it’s been about 10 years.
It was 2009 to 2019, so 10 years of investing into the market. I was 11 years old, and so over that time I was able to build up enough dividend stocks where I’m getting just under a hundred dollars per month in dividend.
Payments from these various different stocks – and – and this is averaged out over 12 months – because some months I’ll – get like $ 20 in dividend payments, other ones – I’ll, get like $200, so it really depends on the months.
But if you average it out it’s, it’s almost $ 100 a month in dividend payments and that’s, something that anybody can do you know if you, if you buy Pepsi stock, you might get a couple Percent interest on that stock over the course of a year – and you also get probably over the long run – you’re, getting to see growth in that stock as well, so that’s, something that I’ve gotten into When I was young – and I’ve been building up over time and I will continue to build it up and kind of eventually.
Hopefully, the goal is that eventually you have enough in investments where you can live off of that and that’s. Why the rich stay rich, because they have so much money that they’re?
Getting these dividend payments or interest, or things from these, invest that they’re, able to never lose value in their money and they’re able to live off of those interest payments or those dividends to never lose money and actually gain Money in the long run that’s, why the rich stay rich, and hopefully, that’s, where I can get to eventually where I can build that up enough, where I can live off of those investments and that’s Very passive as an income source.
But, like I said you’re, putting money upfront to then reap the rewards of it later that’s, something you want to keep in mind with just about every passive income source now another one that I think everybody should be doing if you don’t wan na get into stocks.
You don’t want to YouTube one that I do. I think everyone should take advantage of is just by parking. Some cash in a savings account that’s, offering a decently high interest rate compared to the rest of banks.
So, look if you have an emergency fund, I think Edwige to have an emergency fund or I feel a little bit wary of the stock market and you have some cash in, like a bank account that’s, not earning any interest.
I would consider putting it into something like a savings account like ones that are offered by like markets by Goldman Sachs. It’s, 2.25 percent interest over the course of a year. As of now, that’s, the interest rate that they’re, offering it’ll, probably climb eventually in the future, but 2.
25% interest. Why not sound like a lot of money, and maybe it’s? Not but if you say have twenty thousand dollars in that account 2.25, that’s about like four hundred and fifty seven dollars per year, give or take a little bit in over the course of a month.
It’s, probably about almost thirty eight dollars. It’s, like thirty seven. Fifty per month I don’t know if I did that math wait, but that’s like thirty seven fifty per month in free money, passive income from having money in a bank account.
So I would definitely take advantage of something like that. It’s like a few free pizzas at Pizza Hut, or you could pay your phone bill with that or your Wi-Fi bill for just having some money in a bank account and kind of playing it safe.
Putting some money into some emergency fund that you can then use in the future and look if you don’t when t thousand dollars put in that account, even if you had five thousand dollars at two point. Two five percent Interest: you’re still making almost $ 100 per year in just it’s over a hundred dollars.
It’s like a hundred and twelve dollars per year in interest rates, so that’s. Something that I would consider doing for everybody just as an easy, passive income source kind of mindless you don’t have to think about it very much just park your cash in there and just generate some money over time, so another source of income For myself actually comes from promoting certain products on something like this YouTube channel.
So, generally speaking, I don’t like to follow the money too much. I’d, rather just kind of try to create valuable content and then the money follows later. But there are some products like investment products that I will use personally and because I’m using them and because I like them, I’ll, decide to promote them, and I get affiliate commissions from some of those.
Now I would say out of that, maybe like 15 or 20 different popular investing products like investing app that there might be out there. I only really promote for because I only really like four of them other than like something like Vanguard or e train that I still do like.
So we’re talking about M one finance, Robin Hood, which you can invest in stocks for free on Robin Hood, stash, invest great company and then acorns those four I like promoting other ones. There’s, ones that offer high commissions where, if I promote them and people click on the link, I might get like 20 or 30 dollars every time somebody signs up, but I just don’t like them, and so because of that, I don’t, promote them and that’s, just a personal choice.
I think, if you follow the money too much, you can cause some harm to yourself and obviously to people who watch your videos, possibly so that’s. Just what I personally do, but that generates a decent amount of cash as well, almost $ 700 per month, from just promoting those in the descriptions from my videos.
I don’t, go too heavily on that. I don’t push them too hard, because I don ‘ T want to be very like intrusive, in that sense, where I’m, just kind of pushing stuff on to people, but those are some different.
Passive income sources that I’ve, set up that are generating just a tad bit over $ ,000 in January. Hopefully this helped you out a little bit like I said I didn’t make this video to try to brag or sound conceited.
I really wanted to make this to show you like this is what’s possible. I know when I was thinking about whether or not you can actually make passive income. I wasn’t sure last year and two years ago, so I just essentially did like a year-long experiment to see if it’s possible, and I can tell you that it is possible, you have to put energy into it.
The biggest tip, I would say, is work, smarter and not harder. I think, if you put your head down and grind for too much without actually thinking about the big picture, sometimes it can hurt in the long run, that’s.
Just kind of my philosophy behind this, but thanks for watching this video, any questions comments, leave them down below. I’ll, go back to you as soon as possible drop a like on the video. If you found it to be helpful and I’ll see everybody next time.
Originally posted 2021-01-20 03:37:21.