9 Passive Income Ideas and how I Make $27k per Weekadmin Youtuber 2021-05-19 67 0
Hey friends welcome back to the channel.
In this video, we're gonna talk about nine different ways that you can make passive income. And for each of those, I'm gonna talk about how hard it is to get started, how hard it is to make $100 a month from it and how hard it is to maintain once you've created the thing in the first place.
For me in my business, these nine different sources generate around $27,000 per week these days with varying degrees of passiveness. And obviously, this has taken me like eight years to build up. So, don't expect to be hitting those sorts of numbers when you first get started.
But this is the video that I wish I would have had when I started my financial independence journey many, many years ago, let's go for it.
All right, so, when I say passive income, I always air quote it because there is really no such thing as passive income. There is no way to make money
without doing anything at all. But when I say passive income, what I mean is that its money that is not directly tied to our time.
So, let's say you were to write a book. If you write a book, you publish a book that book is now on bookshelves. You've done the work, kind of once, to write and publish the book. But now anytime the book sells, you make money from royalties, that is passive income.
You could literally be making money while you sleep because you've created this thing, which is out in the world, which is generating income for you. The other thing with passive income is that it always takes a very long time to get going. So, if you see any ads before this video talking about how you can get rich quick by whatever scheme, or if you see people in the comments pretending to be me (screenshot pops) saying, "Oh my God, here's how you can get rich quick with crypto, WhatsApp this number. "
That is all a scam, it's not gonna work. There is no way to get rich quick. It is not a thing. So, if you're looking for a get rich quick scheme, those things just don't exist. So, you might as well not even try. And the way I think of this, is that ultimately money is just a medium for exchanging value. The only way to make money is to provide value. And the only way to make passive income, passive money, is to provide value in a way that is not directly tied to your time. So please, please, please, do not try and join and get-rich-quick scheme, they don't exist. I've had lots of messages over the years from people who have tried signing up to a get-rich-quick crypto scheme or a gambling scheme or a, "Hey, here's how you kind of play poker online. "
None of these things ever work. People always end up losing money. The only way to make money is by providing value. And so, let's talk about the nine different ways (icons pop) that you could provide value if you wanted to. Just before we dive in, I wanna tell you that I've just launched my brand new Skillshare class, about Productivity for Creators, how to start a successful side hustle. That's linked in the video description. Skillshare is sponsoring his video. I will tell you more about Skillshare later on, but I wanna plug my own class because I think it's genuinely really good, and people really like it
and it'll help you get tips on how you can start side hustles in your spare time. Anyway, let's get into the video. All right, so, let's kick things off with investing in stocks and shares. And in this context, the way that we provide value is by offering up our money.
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