7 Passive Income Ideas (Earn Over $100 Per Day)

what's up guys welcome back today we're talking about my seven streams of passive income i love making these passive income videos i make them probably once every six months or so and the real reason i love to make them is because i always get comments about people saying wow i could use some of these strategies right now i feel like sometimes when we look up passive income strategies you get the same thing over and over again or they're really unique to that person i promise you six out of probably seven if not all seven you can implement right now inside your life to start creating passive income now granted mine's at 3 500 but i remember when my passive income hit 100 for the first time in a month and i was very very excited i kept working hard then it became a thousand then two thousand three thousand so the real reason for the video is to show you that if you have no passive income right now in just a year's time or a year and a half time you could be at this level no problem what i've done isn't anything that's crazy i'm a regular 38 year old guy with two kids and a teaching job but right now i'm making a ton of money for doing absolutely nothing now inevitably the passive income police are going to come for me and tell me that's not passive that's not guys passive income to me just means you put up the work up front and then you get paid later nothing in life is 100 passive that'd be that would be almost impossible so if you're gonna criticize and scrutinize how passive everything is to me don't even waste your time i'm not even gonna read the comment i'm probably just gonna delete it so let's list all seven of these we'll start with the smallest one and i'll give you a couple notes on each one so you could start doing them right away the first one although it's my smallest amount of passive income is probably the easiest for anybody to get started with right now and that's dividends last month i received five dollars and 51 cents in dividends if you don't know what a dividend is it's a small thank you card that a company gives you for owning their stock and inside that thank you card is a little bit of money depending on how much you have invested in them now if it's so easy brad why if it's so easy why don't you have more well the fact of the matter is as i've explained in other videos i make sure to check a bunch of different boxes before i invest in my dividend portfolio make sure my retirements are maxed out my roth ira is maxed out and make sure i don't have any debt or if i have any big purchases coming up i've saved for those purchases then i start putting money into my dividend portfolio so that's really five dollars i really started the dividend portfolio in may so i'm happy with 550 and i see that going up and up every single month the next one is definitely the most humbling one and that is subscriber donations i leave in the description my venmo and my paypal account for people to leave me some beer money and every once in a while i get an amazing surprise in the morning that somebody's left me five ten i i think i've even gotten up to fifty dollars last month i got 120 total from that it means the world to me people leave me a little comment let me know like that they understand how much time and effort goes into this and that it really isn't the greatest paying side hustle in the world so thank you for that but yeah 120 bucks passive income i wake up i see it in my venmo someone's like hey next beer's on me i i love that so thank you very much i appreciate the donations that you guys give to me and if you want to send me some beer money like i said that link is down in the description below the next one at 140 dollars and 45 cents is the interest that i get paid from banks i have money in different places in different banks we know that interest rates and money market accounts have gone months ago it was like two and change like 2-6 was when ally was fighting for the top spot now i think they've dipped down into 1 i also have some cash in my money market fund inside vanguard as well but with those online savings like just cash in just interest 140 and 45 cents you can do that all you need to do is have money in the bank in a high interest savings account now the next one on the list at 158 and three cents is affiliates and referrals and this is the one that people say to me all the time like oh it must be so easy when you have a youtube channel yeah it makes it a little bit easier but some of these referrals are just from my credit card referrals and things like that where my friends and family ask me about things if you have a credit card you have a referral link if you have a robinhood account your referral link these are things you don't need a youtube platform or a blog to take advantage of and also not too many people know this if you want to support a channel like mine or anybody else's if you ever buy anything on amazon just click through one of the links in one of our descriptions you don't have to necessarily buy that one particular item so say for example i have the simple path to wealth book well you have the book but you're going to go on and buy something else on amazon if you go to amazon through my youtube channel or through anybody else's amazon recognizes that as coming from my channel and i get credit for anything you buy so if you really want to support a channel and some people know this some people don't and you're going to buy anything on amazon just click through one of my links so amazon says oh wow this person came here from that person's channel let's give them some credit from that but that's really the affiliates and like i said not a lot of money 158 dollars but passive it's no cost to you and i get a little bit of kickback so it's just a way for you to say thank you to your friends or to a youtube creator to a blogger always try and use affiliate links when you can like i said no cost to you and it really helps us out the next one is a big one 579 89 guys and that's for my options premium if you've been following the channel for a couple months now you know that i love the wheel strategy i love making covered calls for some reason people don't consider the premiums from this passive income or they say there's taxes involved guys all of this is tax free money i have to pay taxes on it at the end and people say that it's taxed at ordinary income like if someone says i have a hundred dollar bill to give you but i can really only give you 85 are you not going to take the 85 because you have to pay some taxes on it i never understand why people don't make certain moves because of taxes anyway that's what i hear all the time when people try and criticize premiums is the taxes for some reason but like i said 579 dollars that i got making covered calls and cash secure puts with stocks like att wells fargo aflac cody verizon budweiser these are all things that i'm working with with my covered calls if you don't know what the wheel strategy is or you've heard about it and you want my description of it i always have a playlist that you can check out at the end of the video but yeah guys 579 dollars it's it's harder to check my email than it is for me to make a covered call especially when i'm when the strike is way above my basis so super happy with that hoping to break 600 dollars this month i just made a couple more of them so like i said it's it's 600 in august is my goal but i'll take 579 all day the only potential downside for somebody like you making these covered calls and things like that yes i understand you need a hundred shares or you need collateral to cover 100 shares and this is kind of like where your money starts to make money and you know things start to compound and hockey stick i never could have done this two years ago when i was i had a negative net worth of minus 30 000 and 189 000 worth of debt these are things that i'm seeing the benefits of now after being debt free and being able to invest slowly and build up and buy five 10 shares at a time now my money's starting to make me money and that's what this passive income is all about i'm a teacher right now in the summer i haven't gotten paid since june and i'm not getting paid again until september i'm essentially living off of this passive income right now the next one for 761.66 is the interest that i am receiving on a private loan that i lent a real estate investor as you guys know i'm wearing a bigger pocket shirt i want to be in real i want to be a real estate investor i want to own buy and hold i want to do flipping things like that right now with the markets the way they are and really my lack of knowledge i can't make those moves yet i'm still educating myself but i did have a pretty big lump sum of money so i was able to make relationships with other investors people that had teams in place we could set up a promissory note between the two of us i can get some collateral in the form of adidas trust or first lien on a house and i can get paid every single month by that company until they do the work they want to do so currently i have invested a little under 92 000 in a real estate and company and they are using that money to buy renovate and flip a house they're gonna make money on the profit of the sale of the house but i'm making 10 of my money annually which is like 0.833 every single month that's that's great you know 10 annually compared to what i talked about before with my bank account being one percent i'm making nine percent more now once again yeah you need a lot of money to do this but i didn't do this a year ago this did not happen overnight i saved and i saved and i saved and i kept calling how much money do i need how much money do you need i didn't have enough i didn't have enough but i kept saving i didn't say oh well that's i'm never gonna have a hundred grand so i i can't invest in real estate no i said all right i need a hundred grand that's what i'm gonna work to i'll call you when i have a hundred grand called them when i had a hundred grand now i'm making 761 dollars every single month then when they sell the house i'll get all my money back and if it doesn't go right i still have the deed of trust on the house and i'll be able to clean that house and foreclose on them if they don't pay me but the company is pretty rock solid i have full faith in them and it's going to be great so another thing that you can do without being an influencer here on youtube or a blog or something like that and of course guys i consider a portion of youtube to be passive and i'll explain what i mean last month my youtube revenue was 23.63 2 363 now is that passive no i need to put work into this youtube i'll give you a fun fact though 45 of that revenue came from videos that i made over six months ago so i am getting that residual value from the work that i did previously like i said passive income put in work now and then reap the benefits later in july i made nine videos i'll tell you they take me about two hours to make right like sitting down filming editing getting them posted it takes me about two hours some would say some are a lot longer some are a lot shorter but on average that's the case at 25 an hour for my time which is perfectly good this is a labor of love i love making videos so i take 25 an hour so we take 450 that i would have been paid for my time last month the rest of that i consider passive income here on youtube so that's one thousand nine hundred and thirteen dollars just under two thousand dollars after i take the money out for my time that i consider passive income here on youtube it really is mind-blowing to me the people that have not made a channel guys if if your friends call you you're the go-to for something make content i know you hear it all the time make content it starts slow i've been doing this for three years and it's still 2000. maybe you don't want to wait three years to make only two thousand dollars for me it's two thousand dollars and like i said this is a labor of love but don't not make a youtube channel please if you have something that you can give people value to in their life like i'm not here to like tell people to get out of debt and to invest i think people more follow for the story for the relatability for just a regular guy like you might be a regular guy or a regular girl and somebody else might need to relate to you so if you have content to give get on youtube make some passive income so we do fancy arithmetic we get 3679 dollars of passive income the month of july full disclosure that is the most that i've ever made in one month that's almost a thousand dollars more than i've ever made the really big difference there i was that real estate that private money loan that i made that 700 really boosted me up that that was awesome and also my youtube revenue has gone up in the last couple months due to all the new subscribers guys the channel is freaking exploding it's it's so humbling and ridiculous to me to even think that it took me three years to get to 10 000 subscribers in three months to double that again to 20. so once again i know i say it every video thank you i this is something that i really love to do and i'm so glad that i can be here for you as you can see i've changed the setup a little bit be honest with me it doesn't look ridiculous that i try too hard get down in the comments tell me if you like the new setup i changed the lights i tried to make it a little more cinematic i guess i don't know what the look was going for i just wanted to change and i hope you guys like it down the comments tell me about your passive income streams i would love to add more maybe get to 10. what are some passive income streams that you're using that i'm missing that i can implement to try and get to 10 streams of income and until i see you guys on the next one stay positive work really really hard always be kind to other people hope you have yourself an amazing day and an even better tomorrow you

Channel: Brad Finn

Views: 45,057

Keywords: Personal Finance, Financial Freedom, Fire Movement, Brad Finn, The Finn Mindset, passive income ideas, passive income 2020, passive income investments, passive income, monthly passive income, how increase passive income, private loan passive income, dividend passive income, dividend portfolio for monthly income, dividend portfolio for passive income, wheel strategy passive income, wheel strategy monthly income, options passive income, covered call passive income

Id: k_VXKBSY34Y

Length: 13min 25sec (805 seconds)

Published: Mon Aug 03 2020