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

– 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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