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- I mean, let's get real , Is there anything better than making money while you sleep? , To wake up and all the sudden you'vie just got , hundreds coming from everywhere , I know, it's a bit much, it's a bit crazy , but it is possible , And on this channel I talk a lot about passive income , and how to build business and outsource and delegate , and today we're gonna talk about W different ways , that I make a thousand dollars a month passively , I think you're gonna enjoy it , Let's find out what these W ways are right now , (blows loudly) , (funky slow jam music) , What's going on, ya'll? , Welcome back to Wealth Hacker TV , My name is Jeff Rose and welcome to the channel , where I am teaching people new ways to grow wealth , that is not taught to them by schools or their parents , And today I'm talking about one of my most favorite topics , and that topic is passive income , Now, there's two reasons , why this is one of my most favorite topics , One is because it's by far , one of the most controversial topics, especially in YouTube , If you would see the people , that just love to come out and make comments about , passive income and that's not passive income , that's not passive , you don't know what you're talking about, blah blah blah , I still love you all , And number two is because passive income , has had such a , dramatic impact on my life , that has allowed us so much to do , and I'vie talked about this in other videos , but I can't tell you the freedom that it's allowed me to do , with my family and my business and myself , So I just love the topic , because it's one that is so much fun , but I totally agree that there is no such thing , as flipping on a switch and all the sudden, Baum , you'vie got money just being deposited , into your bank account , That does not exist , (bills flapping) , Those that want to argue about passive income , most of them have no idea how to build a business , they have no idea how to generate revenue , so you can keep chirping all you want , but here's what I do know , Those that have pushed through , that have started a successful business , that allows them to , no joke, make money , while they're sleeping, while they're traveling , more importantly, while they're not actually working , they're not trading time for money , They're allowed to go out and spend time for themselves , their family, their friends and still make money , Those that have pushed through, they get it , They get what it looks like, what passive income looks like , and to those people, give me a pound , Pound it out, right here , Pound it out , - Time fighter (screams strangely) , - Alright, I'm gonna go ahead and kick this off , The W ways that I make at least $W a month , from passive income , I'm gonna share with you the W different sources , and you're going to want to stick to the end , because I think number W is going to surprise you , Surprise! , Alright, number one , Now this is one that anybody can implement , as long as you got some money , and this is my investments , So, most of my investments where I'm earning passive income , are dividend paying stocks, I'vie got Effs , I'vie got some mutual funds that are also paying dividends , In addition to that, I do have some real estate notes , that are paying me interest , I have my peer to peer lending , I have Fund rise , which I'vie also talked about in previous videos , So these are all the different investments that I have , in a joint account with my wife and I , We have accounts for our kids , We have our retirement accounts , So, these are all types of investments that are paying us , and all those collectively are paying well more , than a thousand dollars a month , Now, to generate a thousand dollars a month , passively from your investments , you'vie gotta have a decent amount invested , You don't just start generating a thousand dollars a month , if you only got $W , so this is something that took a lot of time , but it can happen if you keep investing , But the key is, you gotta start first , Alright, the first one, by far, is the most traditional way , that we'll be talking about today , Investments, that is pretty well common , People invest, they make their dividends or interest , blah blah blah , So what is number two? , Number two is a bit more fun , because now we're talking about my wheelhouse , online business, so number two is affiliates , So with affiliates, this is from my blog , this is from my YouTube channel , where I'm getting a paid affiliate commission , from many, many different affiliate platforms , So when it comes to the blog.. , So if you don't know my blog , my main blog is goodfinancialcents.com , and it's a personal finance , it's an investing site, investing blog , In that, we have affiliate relationships , with investment firms, with online savings accounts , We have insurance providers , Oh my gosh, there's so many different outlets that we have , So if somebody comes to the site , they need some information on life insurance , or auto insurance or they want to start a Roth IRA , they come to the blog, they read some information , then we provide options for them to do or take care , whatever it is that they're looking to do , And with that, we get paid quite well , for all these different affiliate relationships , Now, affiliate marketing dozen't have to start on a blog , I know people that are crushing it here on YouTube , I know that those that have great affiliate revenue models , through their podcasts , You can do this even just through social media , whether it be Instagram or Facebook , Affiliate marketing, a lot of other You Tubers talk about it , It is and can be very lucrative , something definitely worth checking out , Alright, the third way that I make , a thousand dollars a month passively is through display ads , Once again, this is going back to the blog , That's the beauty of having a blog , having an online property , is that you can monetize it in so many different ways , So in addition to affiliates , we also have display ads or display networks , and the easiest way I can explain this to you is that , if you are in your car , and you're driving down the interstate or highway , and you see a billboard on the side of the road , you know that, one, somebody is paying , to put their business on that billboard , and two, somebody is sitting back collecting that check , from that business that's trying to market themselves , on their billboard , So if you have an online property , that gets a decent amount of traffic like me , I am the billboard owner, so different companies , different corporations that are trying , to get in front of people , are willing to pay good money , to put their ads in front of people , So with that, we get paid well over , a thousand dollars a month from those display ad networks , Now, you can go directly to the company , if you're just starting off , So let's say that you have a website , that talks about pet-sitting or dogs , and that you know that there's a local kennel , or a local dog training school, and you can approach them , say, "Hey, I get a decent amount of traffic , "Would you be interested in paying to advertise on my site?" , That can be done , When you get larger, you get a lot of traffic , then you start approaching ad networks , So these ad networks basically become the middle man , between you and all the different companies , that are going to advertise in your space , Alright, number four , A little bit different than display ads , a little bit different than affiliates , but still in that same genre, still in that same space , What we're talking about here are CPC ads , or cost per click , So with affiliates , the way you get paid for affiliates is that , the person clicks on the link , they fill out the application , and that's typically when you get paid , Sometimes you get paid if they , just fill out the application , other times they actually have to become a customer , so they actually have to open the account , Let's say it's an online savings account , they gotta open the account, make a deposit , before the affiliate, I, get paid , So with cost per click, CPC ads, totally different , The way that I'm getting paid , is that if somebody goes to the site , they see an advertisement and they click on it , you guessed it, I get paid , So it is cost per click , I don't have to wait for them to fill out an application , I don't have to wait for them to actually open the account , I'm getting paid immediately just because they click the ad , Now, does that mean I can go in and manipulate that , and click that thing all day long? , I guess I could , but eventually that's company's gonna figure that out , so you don't want to do that , And they're also going to be able to track , the click per conversion, so that means that , if I get a ton of traffic , and I got people that are clicking that link all day long , but if none of them actually open account , or take action and buy something , then that advertiser does not want to pay me anymore , They wanna make sure that the people that are clicking , are actually doing something , So you might make some money in the short term , but in the long term just not a good idea , So just make sure that you are , partnering with a company that makes sense , depending on whatever you are talking or discussing about , on your blog, your YouTube channel, your social media , wherever it is that you are marketing yourself , Moving on to number five , and number five is another fun one for me , and this was a whole evolution , So I mentioned my main blog, goodfinancialcents.com , Shortly thereafter, I launched a life insurance site , lifeinsurancebyjeff.com, and I actually have a whole video , where I talk about how I was able to generate , a hundred thousand dollars in the first nine months , of launching and activating this insurance blog , so make sure you check out that video , So when I first launched that blog initially , it wan't passive , We were getting in leads , I had an adviser in my office , that was calling these leads and trying to close them , on buying life insurance , I promise, there is nothing passive about that , But then it got to a point , where we just had so much traffic , we had so many leads that we did't have the time , to call all of them , and a lot of them were slipping through the cracks , So it finally hit me that it would actually make more sense , to sell the leads , than actually get paid the life insurance commission , Now, for those that arena't familiar , with the life insurance industry , you make a lot more money on a life insurance commission , than you would selling the lead , but I recognized that the volume that we were getting , if I truly wanted to maximize this , I was gonna have to hire more people , I was gonna have to manage a team , and it was just something I was not interested in , So instead of getting the bigger checks , on the life insurance commission , decided why don't we just go ahead and sell the leads , Now, some of the pros with that , is that we were getting the money up front , so we did't have to wait , sometimes three months, six months, nine months , to get the life insurance commission , And the best part, especially for this video , is that it was completely passive , So all the leads would come through , they automatically would funnel to the lead buyer , and then, Baum, we get a check at the end of the month , for however many leads that we sent to them , It is a beautiful thing and just another example , of how you can make money passively , Moving on to number six , So number six is another cool one , because I don't have a lot of these yet , Yes, I just launched or pare-launched , beta-launched another course , but course sales is another way that I make , more than a thousand dollars a month passively , So, as of right now , the only course that I have that is fully done , is a course on online marketing for financial advisers , and it is something that I'vie used to promote , via Facebook ads , I don't even promote it right now , just because I'vie got a lot of other things going on , but event the fact that I'm not proactively promoting it , just because of what I have established , for myself in the industry , I still get people trickling in that want to buy the course , And the course is not cheap , It's $2,W dollars, so even if I get one sale , every two months , I'm still netting over a thousand dollars a month , And the one thing you have to keep in mind is that , this is a course that I created , I'm actually trying to do the math in my head , I think it was over three years ago , so three years ago is when I did all this work , and created this course , and I'm still making a thousand dollars a month , and that's not counting the hundreds of thousands of dollars , I made when I was truly, actively promoting the course , So once you create a course, boom, it's done , You can market it for years to come , and just another example of me , making a thousand dollars a month passively , Staying in the digital space , number seven is a digital product , and this is another thing that I don't have a lot of , but I do have one that I created , once again, I think two years ago , maybe three years ago , And what we're talking about here are digital products , Now, you'vie probably seen this with e-books , it could be Amazon Publishing , it could be an email instruction guide , or an email challenge that people will pay for , In my case, it was the Make $K Blog Challenge , so it was a challenge where I was showing people , how they can make their first $1,W blogging , So you get the free challenge , and then after you sign up for the challenge , you have the option, the option, you don't have to do it , I'm just saying that because a lot of people sign up , and they think that I'm making them pay , No, you have the option , You don't have to buy it , It's an upgrade that includes some PDF, some worksheets , and a behind the scenes look at one of my top affiliates , and that whole thing is only $7 , So you think $7, that's not a lot of money , but if you're selling a couple hundred a month , yeah, you guessed it, now we're making more than , a thousand dollars per month on this thing that I created , once again, years ago , So with this, I can promote this on my blog , which I currently do , I'vie promoted it on my YouTube channel , You could promote it on social media , It's something that I built years ago , that still generates over a thousand dollars a month , once again, passively , Moving on to number eight , and number eight's another one , that we could go back and forth , is it passive, it is not passive , For the sake of this video, we're gonna call it passive , and that is my YouTube ads from this channel , So, how can I say that it's passive , when I'm still generating YouTube content? , Well, here's kind of the cool thing , So, here it is, beginning of the year , and I took some time off over Christmas break , with all the kids home , and I don't think I recorded but one video , And in that time where I'm not actually producing , any content whatsoever , in that month just from YouTube ads alone , I made well over $8,W , In addition to that, that's not even counting the affiliates , or some of the digital product sales that I have , that I mentioned here previously , So, I can easily just eyeball it and shooting from the hip , say that I made anywhere between W to W thousand dollars , in that month where I just did't do a whole lot of work , Now, if I stop producing video content on YouTube , would I still be making that same amount of money , a year from now? , I would probably say not , I think eventually YouTube would catch on and go.. , Because they wanna promote the new content , they want you to keep publishing more, more, more, more , but here's the cool thing , If I did't publish, say, for the next three months , or six months or even nine months , I still would be making significant income , from my YouTube channel , You can actually check out my other video , where I shared how much my most watched video , has made on YouTube , and that video alone has made me in the five figure range , and it's still paying me to this day , even though I recorded that video, now I would say , about a year and a half ago , And it's still paying me , I think that video alone makes me , over a thousand dollars a month, so that just shows you , that YouTube can be a passive income source , Alright, the last two are actually kind of the same thing , but for different reasons , and this is the one that I wanted you , to stick to the end about , So number nine and ten are , my financial planning business , or my financial planning practice , And you're probably wondering , how in the world is that passive income? , How do you have a financial planning practice , when people are talking about their financial plans , and investing and achieving all their financial goals? , Well, let me share with you exactly what I mean , and how I was able to do it , So, once again, at the time of this recording , I live in the Nashville, Tennessee area , My financial planning practice , is located in a completely other state , I have not been in that business , I'vie not stepped foot in that brick and mortar location , in over, hmm, yeah, about a year and a half , And yet, that business still continues to deliver , very healthy revenue, very healthy profit , How did I do it? , So this is a lot of what Dan Loki.. , If you'vie not checked out his channel , he'll talk about leveraged income , where I have leveraged my team to manage the relationships , manage the clients, manage the investments , so that I don't have to pop in every single day , and make my presence known just for me to feel good , So, that has generated, once again , yes this video is a thousand dollars a month , but I mean, let's be honest , it's a financial planning practice , This thing has generated revenues north of $W,W , for the last three years , maybe even four years consistently , and with me not having to do hardly any work , And when I mean hardly any work , I'm talking Tim Ferris's, 4-Hour Work Week , would be proud of me. (loud applause) , He would give me a hug, he'd give me a pat on the back , 'at ta boy, good job, because there are times , when I was spending less than a few hours a week , Maybe some weeks when I'm traveling , I'm not spending any time on that business because , I set up the right system , And it took me time to do that , and I'll be talking more about this in a future video , So number nine is the financial planning business , from the revenue that I generated , because of the team that I trained , to run the business the way that it needed to be done , So if that's number nine , then how is number W the same thing? , And the reason is this , so if number nine is the financial planning business , then you're probably wondering , how does number W tie into that , and also make you a thousand dollars a month? , Well, this is what I'm really excited to share , So the financial planning business , yes it was generating amazing revenue, amazing profit , but it came to a point in time where , it was becoming a distraction, a distraction from , the business that I'm growing here , predominately in the online space , So after being a financial adviser for over W years , I am no longer a practicing financial adviser , I sold the business. (sings) , It's time to celebrate , Yes! , So number W is when you sell a business , sometimes you can get paid up front , sometimes you can get paid out over a certain year period , and in my case, that is exactly what is happening , So, for the next several years, every single month , I'm getting a fat check deposited into my checking account , and you guessed it, without me having to do anything , That is W%, I'm talking like W% passive , 'cause I'm not doing anything , I sold W% ownership so I have no invested interest , no rights, no voting powers in that business whatsoever , They, the new owners do all that , I just collect the check , And out of all of those, that's probably.. , I don't know if it's the most fun , I like the online stuff because that continues to grow , while this one is a fixed payment , but you talk about doing nothing, just doing nothing , But, then again, I did invest a lot of time and energy , into building that business and building that structure , building those processes and building that team , that allowed it to flourish the way it did , And when it comes to achieving not just passive income , but significant passive income , to be able to generate , thousands of dollars a month passively , you gotta do the work first , So you'vie got to get the money , you'vie got to build the team , you'vie got to build the business , you'vie gotta build that process , before you can sit back and enjoy the money , and make money while you sleep , And here's what I do know , If you're one of those that just wants to comment that , there is no such thing as passive income , then guess what? , Then you're never going to start the journey , to begin making money passively , because you'vie already decided it dozen't exist , And if that's you, then , you be you , But to the other Wealth Hackers out there, let us be us , Let's hack our wealth and start growing , a significant passive income stream , And if that is you, make sure that you subscribe , to the passive income playlist that I have created , that shares some of the best content that I have , that will get your mind right on how to generate , significant passive income , Make sure you subscribe, because guess what , I got more stuff that's going to rock your world , My name is Jeff Rose , and I wanna remind you that it's your money , it's your life and only you can make it awesome.
