HOW I MAKE $7,000 A MONTH IN PASSIVE INCOME 🤑 (My 5 Online Income Streams Explained!) #Best Education Page #Online Earning

 So, back in January of this year,

I took a trip to Florida, I hung out by the pool,

I went to the beach, and I spent about 30 minutes

each morning just checking up on my emails.

And, you know what is amazing?

I made the exact same amount of money that week

as I made the week prior.

That is why I make passive income.

What's going on, you guys?

So today, we're gonna be talking about my business model,

what percentage of my income is passive income,

and how exactly I am making passive income.

So, like I said in the introduction there, guys,

that is the main reason why I make passive income.

I wanna be able to go take a week off,

go take a vacation, go travel if I want to.

If I wanted to I could leave my house tomorrow

and go to Bermuda for two weeks and I would still have money

coming into my bank account.

Now, would I have to do a little bit of work beforehand?

I would.

I would have to schedule some content

for my membership site, but that's the beauty

of my business model is I don't have to be present

in order to make money.

I can also run this business from a laptop

anywhere in the world.

And, these were the main factors involved with my decision

when I decided on this business model.

I wanted to not be tied down to any one specific location,

and I wanted to have a flexible schedule where I could work

more when I wanted to, work less or work not at all

if I didn't want to at that point in time.

But, I'm gonna go ahead and break it down for you here.

I'm gonna show you what my income sources are,

whether or not they're passive or active

and tell you a little bit more about the money I am making,

and whether or not I actually recommend this business model

for passive income.

But, before I get into that video, I just wanna mention

we did a 1,000 Like Challenge on my last video.

I said if I got a thousand likes I would do this video here.

And, we got a thousand likes in less than five hours

which was absolutely incredible.

So, thank you so much, guys.

But, I'm gonna do another offer for you guys here.

I usually don't do videos on a Friday because on Fridays

I do my video for my stock market membership site,

Stock Radar, but if we can do 2,000 likes on this video here

in the next 24 hours, I have

a really interesting video idea for tomorrow.

I wanna talk about what would I do if I lost everything,

if I woke up and my YouTube channel was erased

and I had to start over, what would I be doing?

And, if you guys can do 2,000 likes on this video,

I will put that up tomorrow for you.

I think it would be a really interesting video

for those of you that are looking to get started

with earning passive income or earning income online,

but you don't know quite where to start.

I'm gonna tell you where I would start

if I had to begin all over again.

But anyways, let's get into the video here guys

and talk about how I make money, how I make passive income

with my business.

Now, is all of the money I'm earning passive income?

Absolutely not.

A lot of it is actually active income.

Some of it is somewhat active, somewhat passive,

and then a large amount of my income

is what's called residual income.

So, it's not passive in nature.

It's not as bad as active income

where I have to be working for set hours,

but I do have to continue to add content

to my membership site in order to make money from that.

But, what I like about that is it's recurring income

at that point so I know how much money

I'm going to be making each month.

Because the big downfall to my other income sources,

my passive income sources, is that they fluctuate

based on the number of views I'm getting

as well as things like the advertiser rates,

and there's a lot of different factors involved with that

that make it fluctuate and that's not really desirable

when you're looking at your income.

You wanna have a idea of how much money

you're going to be making.

So, just keep that in mind,

especially with an online business.

You're gonna see a lot of fluctuations

with the amount of money you're making every single week

or every single day in some cases.

So, the first way I make money

is by the YouTube advertisements.

And, I'm sure you guys saw an ad

before you watched this video

and so I get paid for YouTube advertisements.

YouTube puts ads in front of my videos

and I get paid by that.

Now, is that a good business model?

I would say no and that's because I've seen

40% fluctuations in my ad revenue

just based on the number of views I'm getting

as well as what advertisers

are paying for ad space right now.

So, imagine if you had a 40% fluctuations

in your revenue each month,

in some cases that's not really a desirable thing

to have with your income.

You wanna have a general idea of how much money

you're going to be making.

Now, is that passive income or active income?

I would say that it's 80% passive, 20% active.

And, what I mean by that is about 80% of the money

I am making in ad revenue is from videos

I've done previously.

I'm not doing anything to those videos,

but I'm still making money from them.

In fact, one video alone on my YouTube channel

covers my car payment and that's pretty cool

that a video I did months ago that I haven't done

anything to since pays for my car every month.

So, it's pretty cool what passive income can do for you.

But, the thing is if I were to stop making YouTube videos,

then that passive income would start to taper off

and I would start making less and less money.

And, so it is still active in nature,

because I still have to put out content

in order to continue to get views on my channel.

And, if I stopped making videos,

my income would definitely start to dry up.

Now, the second way I make money

is through affiliate links and this is 100% passive income.

Now, this is a very small portion of my income

and really it's because I don't do

a very good job with this.

You can do a lot better with Amazon affiliate links

or other affiliate links if you do a good job promoting them

or if you mention a book or a product in your videos,

you're gonna link it up in the description.

I really don't do a very good job with that.

I just have my affiliate links as in the books I recommend

and then my equipment in the description

of all of my videos.

And, that's purely passive income.

So, every time somebody clicks on that link

and makes a purchase on Amazon, I make a certain percentage

of that commission, and I also have affiliate links

for Coinbase and Robinhood in my description.

And, so when somebody signs up for Coinbase or Robinhood,

I get a small kickback from that.

But, that is completely passive income

and it's not a lot of income, but it's not anything

I have to work for.

It's just from people clicking links

in my description and me directing them

towards a certain service or a certain product.

But, you could make a lot more money

with affiliate links if you spent more time with it

and recommended more products in your videos.

And, a lot of people do this with blogs.

They'll have blogs where they have Amazon affiliate links

and they do like review sites

where they're reviewing products and selling that product

through Amazon affiliate links.

And, I think you could do a lot better with that

if you had something like that.

So, for the business I do, oftentimes

I'm recommending books.

That's about an $8 item.

And, if I'm making, I don't know, five to 10% of that,

I'm not making very much at all on that item.

So, even when somebody does click on my link

and purchase a book, it's not like I'm making

a ton of money off that.

So, if you were recommending a higher priced item,

you would probably do a lot better

with the affiliate links than I'm doing here

on this channel.

And, then after that I have my membership site

and that is what I call recurring income

because I'm making income every single month from that.

I have an idea of how many members I have

in Stock Radar and it's a very consistent income.

Now, that's a plus for me because my other sources

of income are not very consistent.

They fluctuate and so my membership site is really

the core of my business and that's what I know

I can pretty much rely on because you know

a certain percentage of members are going to stay.

A certain percentage are going to leave.

That's gonna be your churn rate.

But, as long as more people are joining

than you have leaving, then you're going to be building that

over time and you're gonna have a nice recurring revenue.

That's actually my favorite income stream

of all the income streams I have related to my channel

is that membership site just because it is predictable

in nature and I have a general idea of how much money

I'm gonna be making from that.

Then after that I have my courses.

That's 100% passive income because I made them in the past.

I don't do anything to them now.

I mean, I do have the Facebook groups that I go into

and answer questions, but other than that,

the courses run themselves through Teachable

and every time someone buys them I get an email

saying I made a certain amount of money from that course,

and it's completely passive income.

So, the membership site is definitely recurring income,

it's not passive, but the courses

are completely passive income because I already made 'em

in the past and I still make money off of them.

And, then finally I have a few different avenues

I make money with off of YouTube.

Primarily it's through consulting and little bit

of social media marketing that I do on the side.

That's a very small portion of my total landscape

of my business, but that's completely active income

because I'm actually out there doing the consulting

one on one with people or I am doing

actual social media marketing.

And, before you guys ask, this is not investing consulting.

This is usually something related to building

a following online and whatnot.

I do a little bit of one-on-one consulting there.

Or general social media practices,

helping out small businesses with their social media.

But, anyways guys, that is how I'm making money online,

that is my business.

And, the big question that I think you guys have

is how much money am I making in passive income

every single month.

It's a really tough question to answer

because like I said, a lot of my income fluctuates.

My ad revenue fluctuates plus or minus 40% in some cases.

But, averaging it out over the last year of so,

around $7,000 a month is what I make in passive income.

So, if I go off and I were to take a month off

from everything I was doing, I would still make

about $7,000 from my past efforts

or the work I have done previously.

Other than that, it is recurring income or active income

that I am earning.

Now is this the best model for passive income?

I would say no.

Because if I stop doing what I'm doing here,

if I stop making YouTube videos,

then all of my income streams are going to begin

to dry up.

But, at the end of the day I love what I do here on YouTube

and so it's the best model for me.

But, it might not be the best model for you.

And, if you're purely looking to earn passive income,

there are definitely better models out there.

But, anyways guys, that's gonna wrap up this video.

Thank you so much for watching.

Keep in mind if I get 2,000 likes on this video

in the next 24 hours, I will do a video tomorrow

talking about what I would do if I had to start over

from scratch, if I lost everything, what would I be doing?

But, anyways guys, if you're new to this channel

make sure you subscribe and you hit

that bell for notifications.

Drop me a comment down below if you have any questions,

thoughts, or feedback.

And, I will see you in the next video.

If you are interested (upbeat music)

in learning more about investing

in the stock market, I've created

a free course just for you.

The link is in the description below.

Here are a few other videos you might enjoy as well.

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