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Passive Income Ideas 馃槾 (11 Proven Ways to Make $1,000+ Per Month) - YouTube
Channel: Wealth Hacker - Jeff Rose
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creating passive income takes work but
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once you implement those processes it's
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one of the most fruitful income sources
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that you'll ever have and it's also
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impaired your wording today I want to
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share my 11 most favorite passive income
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sources that you can start for them
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[Music]
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[Applause]
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[Music]
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okay the first idea is pretty well a
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no-brainer especially if you know that
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I'm a financial planner and I've been
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working with clients for over 15 years
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now
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but the first passive income source that
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you can derive is from investing now I
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know many of you watching this might
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think well Jeff I don't have a lot of
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money to get started
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I get it I was there too let me tell you
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it doesn't take a lot of money to get
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started whether it be 50 bucks a month
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$100 a month anything that you can start
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investing you can start making gains and
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start making interest off your
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investment so whether if you're making
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capital gains off of your mutual funds
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your ETFs or your stocks or if you have
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dividends that pay out on a consistent
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basis these are all sources of passive
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income that you can get if you're not
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sure where to get started investing
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there are a ton of online providers
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nowadays there are Robo advisors such as
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betterment wealthfront acorns Robin Hood
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Ally invest etrade if you do nothing
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about investing and you want somebody to
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pick those investments for you that's
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why I have to recommend betterment
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betterment doesn't have any money to
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start and they will choose an ETF model
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for you so if you're putting any money
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in they're gonna choose those
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investments and then you'll sit back and
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start making those capital gains in
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dividends
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otherwise passive income now another
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form of option that I love when it comes
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to investing is peer-to-peer lending I
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started doing peer-to-peer lending
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over six years ago and it has been one
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of my most favorite investment classes
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to put your money into now Peter peer
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lending is just like as if you're acting
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as the bank so instead of somebody going
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to the bank and getting a loan you are
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giving them a micro loan so you become
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the financial institution and since
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these are micro loans you're only giving
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up about $100 per loan sometimes less
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but I don't know if you've ever taken
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out a personal loan from a bank but you
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know how much interest they charge so
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imagine now you're sitting on the side
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of the bank and you're collecting that
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interest the top two peer-to-peer
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lenders a check out our Lending Club and
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prosper
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I have accounts with them both and I
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really don't have a preference either
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which one I'll tell you I've been
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sitting back and earning those interest
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checks since I've started and I love it
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my second passive income idea is taking
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advantage of deal sites and/or survey
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sites so sites like Swagbucks
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inbox dollars or my surveys signing up
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for these sites allow you to do your
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normal shopping that you do online and
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make a little bit extra money on the
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side or if you're sitting on your couch
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watching Netflix your favorite TV show
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or some sports game if you have your
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laptop handy you can fill out surveys as
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you're wasting time killing time and
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make really good money alright my third
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passive income idea and this one's a
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little bit outside of the box but hear
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me out taking advantage of cash back
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reward points now I know I'm sure
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thinking Joe how is that really passive
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income but check this out before I
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started using credit cards to pay all of
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our bills we used to use debit cards all
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the time because I always subscribe the
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idea of like you shouldn't have credit
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cards because credit cards are evil
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they're not that evil but when I started
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talking to others that were truly taking
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advantage of all the different reward
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points that you have to offer I realized
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that we were missing out on a ton of
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free cash so we start using reward
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points specifically for cash back
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airline miles or hotels anything like
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that that we knew that we'd be using on
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a frequent basis so now everything that
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we buy whether it's our cell phone bill
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our satellite bill Netflix groceries
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gasoline we run all of our expenses
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through our credit cards and we get back
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tons of war points and with these reward
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points we've cashed in on airline miles
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hotels and a variety of other things a
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couple years ago we took our entire
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family to Jamaica it didn't have to
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spend a single dime other than some
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snacks in the airport so using your
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credit cards to take an advantage of
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these reward points is so passive
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because you don't have to do anything
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you're doing something that you're
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already gonna do to begin with you just
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sit back and enjoy the cash cookie all
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right on to passive income idea number
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four and this is a fun one doesn't
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really apply to me well it kind of does
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yeah let me explain so one of my good
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friends is a photographer and when he
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started taking pictures for me and my
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family and for my
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business he asked hey I will take your
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pictures and I won't charge you but I
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want to be able to use you for my I
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stock photography account at the time I
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didn't know really what I stock was or
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what stock photography was but I thought
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you know what if I'm getting free
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pictures Samiha so he would upload my
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pictures to high stock and businesses
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from all over the world we're using my
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picture on their websites brochures and
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other marking materials I've had so many
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people contact me because they saw my
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picture on some brochure or a website
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and asked like Jeff is that you it's
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like yeah that's me now I don't get any
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royalties for that because all I got was
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free pictures but my buddy who's the
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photographer is still making royalties
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off pictures that he took several years
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ago so if you have a knack with a camera
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and love to take pictures of people
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things whatever consider using I stock
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or any stock photography service alright
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number five is for all my artists out
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there and this is something that's not
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me because I'm definitely musically
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challenged so there's this cool service
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called patreon and for any artist that
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has a community a growing community and
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you want to get paid for your work and
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you have a computer if people that love
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your art whether that be your drawings
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your music whatever that art may be and
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each time that you release a new item
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you can get paid a fee for that and you
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get to determine what that fee is so let
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me give you a few examples of some
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friends of mine that have really took an
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advantage of patreon a good friend of
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mine Evan burst also known as the
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cartoon block is a very popular artist
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and has a thriving YouTube channel and
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he loves showing people how to sketch
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superheroes so with patreon anytime that
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he creates a new image a new sketch his
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community will pay him a fee every time
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that he releases a new image talk about
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getting paid for what you love to do
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another good friend of mine Chris
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Greenwood a musician and in the band
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manifest gets paid by his community
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every time he releases a new music video
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see these are things that these artists
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were doing anyway but now instead of
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just releasing something and hope
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that somebody will discover it or that
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you hope that you might get paid for
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your work with your community that is
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looking forward to the next piece of art
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that you're going to release you're
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going to get paid and they're excited to
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pay you check out
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patreon.com/crashcourse the cool thing
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the book has been out for almost four
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years and guess what I'm still getting
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paid on sales I can log on Amazon and
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see how many cells of my book are
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occurring each and every week
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but maybe you're not ready to do a
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physical book you can also sell an
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e-book there are tons of authors that
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release books all the time on Amazon
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writing and publishing books in the
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Amazon Kindle program is so much easier
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than it ever was so if this is something
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that you want to do think about it very
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hard another blogger that I know in the
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personal finance space named Mike Piper
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blogger and oblivious investor calm is
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making over six figures a year from his
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ebook that he sells and guess what he
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doesn't have a ton of ebooks but he has
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enough and the ones that he does sell
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yields have over six figures every
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single year as you can see writing a
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book whether it be a physical book like
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soldier finance or an e-book can be very
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lucrative you just have to get the book
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done and get it out there alright number
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seven about to get physical physical
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about to get physical
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[Music]
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okay so maybe not that kind of physical
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but we're talking about physical
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products so this could be a variety of
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things this could be t-shirts mugs
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blankets it's amazing what you can
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create and sell online especially with
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the Amazon FBA program but maybe you
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don't want to go that route and you
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actually do have a physical product that
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you want to sell one of my most favorite
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success stories is Steve Chu from the
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blog my wife quit her job calm so with
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Steve's case his wife is getting ready
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to quit her job a six-figure salary
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living in Northern California and he
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wanted to find a way that he could
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replace that so she could still spend
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the time with their kids but also not
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lose out on the income so what do they
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do they created a digital online store
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selling physical products in this case
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it was handkerchiefs you could check out
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his side at bumble bee Linda's calm and
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see everything that they sell now their
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store has evolved a lot from the
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handkerchief so they offer a lot of
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different things but here's the cool
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thing about that story within the first
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year of launching their online store and
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selling these physical products they've
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replaced his wife's income over a
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hundred thousand dollars did you hear
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that a hundred thousand dollars after
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the first year of opening their doors
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that's amazing and the best part it is
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passive income all right on to number
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eight let me tell you a number a it was
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one that didn't work out quite well for
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me but I know it's worked out for a ton
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of other people so where does this one
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real estate now there are many ways that
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you can get involved in real estate you
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can flip houses you can buy them and
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sell them wholesale or you can become a
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landlord and have tons of rental
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properties and that's the path that I
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started but when I started down that
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path I realized I had no idea what I was
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doing now thankfully I didn't lose my
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butt on that investment but it did allow
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me to explore other passive income ideas
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and I'm currently implementing but let
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me tell you I have a local friend here
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who is in his early 30s as making over
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two hundred fifty thousand dollars a
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year from his real estate properties he
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has a lot that he does flip but he has a
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good chunk of his real estate portfolio
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that is completely passive I will tell
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you if you want
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start getting involved in real estate
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make sure that you have a good mentor
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because you can lose a lot of money very
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quickly if you don't know what you're
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doing so if you're not completely
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comfortable investing into physical real
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estate there are other options one
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option are real estate investment trusts
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which you can buy through ETFs other
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options include sites like fundraise
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comm so with fund rise they will take
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your money and you'll put that in a pool
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with other real estate investors and
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then somebody's in charge of choosing
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those physical locations for you so that
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way you're not in charge of picking
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those locations or having to collect
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rent and making sure that they're taking
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care of the upkeep on those buildings
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all you do is sit back and collect the
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interest and dividends either which way
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that you look to explore in a real
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estate is going to yield you some sort
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of passive income passive income idea
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number nine take a seventeen so if
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you're comfortable putting yourself on
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the world getting in front of a camera
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kind of like I'm doing right now you can
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publish content to youtube and sit back
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and make money so how exactly are you
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making money on YouTube the most easiest
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way is the ads that you see you know
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those annoying skip your ads the first
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five seconds every YouTube video that
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you watch yeah those ads anyway YouTube
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publishers get paid anytime that you
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watch any of their videos so YouTube is
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always looking for content creators that
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are willing to put in the time and
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effort to create good video content one
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of my favorite local stories here is
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Emily from Beauty broadcast when she
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started her YouTube channel showing her
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community how to apply makeup she
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started making a little bit of money
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with the ads from her videos the next
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thing you knew those ads kept increasing
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as her viewers gained and her
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subscribers gained fast-forward two
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three or four years later she was able
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to quit her day job because she was
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making more money than her day job with
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her YouTube videos now she makes almost
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six figures every year just by putting
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on makeup every single day it's pretty
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sweet I like it I don't really wear
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makeup but you know whatever it works so
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whether you want to create makeup videos
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prank videos or crazy workout videos if
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you're willing to put in the work and
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upload those to YouTube
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you can get paid alright number 10 and
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number 10 is definitely one of my
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favorite because it's near and dear to
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me but it is blogging so I started my
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blog back in July of 2008
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goodfinancialcents.com Hollow and I'm
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still amazed at not only the amount of
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money I've been able to make for my blog
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but just all the connections I've made
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with so many amazing people over the
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years now my blog brings in over seven
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figures a year what and most of it is
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passive yes like a landlord it does take
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some upkeep and there are things we have
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to do but I put in very little work for
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the base that I built up over the years
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you can check out other bloggers like
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pat flynn from smart passive income comm
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or food bloggers Lindsay and Bjork
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Ostrom from pinch of young comm and even
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my wife Mandy from house of rose blog
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comm all these bloggers are making
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really good money and most of them are
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from blog posts that they wrote over
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three years ago it's amazing a is almost
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completely passive if you're interested
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in making your first $1,000 from
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blogging be sure to check out my free
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email challenge to make one cake
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challenge you can check out more details
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that make 1k challenge calm in this
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challenge I show you how to start your
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first blog publish your first blog post
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and give you behind-the-scenes peek of
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how I made my first $1000 yes it can be
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done so go check it out and make one
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cake challenge calm alright here is the
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last one and I know if this is my
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favorite but it definitely is one that
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I'm pretty excited about so what is it
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what I'm talking about here is creating
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your own online course now this is
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something that I fought for ever
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I've always want to create a course but
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I kept struggling with what do I want to
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create what's the idea who are the
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people that I want to serve and I kept
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coming up with idea after idea after
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idea but unfortunately I never actually
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launched any of those ideas let me tell
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you to make passive income you don't
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make money up ideas you make money off
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implementing those ideas finally about
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two years ago I released my first course
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the online advisor growth formula in
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this course I'm showing financial
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advisers how to use online marketing to
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grow their businesses I launched that
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course last year and I've created the
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course I recorded all
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the videos now what I do is market which
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most of it is automated using Facebook
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ads and email marketing last year we
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made over a hundred thousand dollars off
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that course all because I took an idea
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and actually implemented it this year
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we're on track to beat that by at least
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fifty percent if not double it
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now remember I've already created the
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course this is not something new that I
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have to redo or reshoot all the
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information is there now it's just a
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matter of getting that course in front
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of the right people that are wanting to
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buy it out of all the ideas I've shared
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with you
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I love the creating the online course
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idea the most because the margins are
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ridiculous if you're selling a course
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for $1000 your cost in that course may
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only be a hundred bucks 200 bucks but as
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you go along and make more sales your
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margin decreases which means your
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profits increase so you start making
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more money and more money and more money
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and guess what is completely passive now
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as you can see there are a ton of
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passive income ideas you can start I've
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only shared eleven with you here today
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on my blog goodfinancialcents.com
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I share 25 passive income ideas that you
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could start in addition to the eleven I
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shared here today
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now we're constantly adding that blog
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post so if that number is bigger by the
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time you actually watch this just know
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that we must have found another great
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passive income idea then we've add to
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that post
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alright now I want to hear from you what
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passive income idea have you implemented
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how much are you making how long did it
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take until you start earning passive
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income I want you to share with the DFC
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community so others can benefit and
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start making some real passive income
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let's go make some money
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jeff rose from goodfinancialcents.com
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take care alright on to passive think I
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so I had the wonderful hen
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[Music]
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barring services starting over I mean
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that's that doesn't make sense why you
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said
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[Music]
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