5 Passive Income Ideas for $500/Day — Full Breakdown & Trans

[00:02] talking about how i earn money 24 hours a day and no it's not by having some crazy sleep pattern i'll leave that to the from the title let's talk about five of my favorite

[00:15] sources and how you can earn an extra five hundred dollars a day or even more over my years in business i have pretty much come across income strategies if you've watched my previous videos you'll know that i

[00:29] started off with nothing no qualifications and certainly no money but as i slowly came across people that inspired me i started using their passive income ideas in my life i am so

[00:41] met along the way from the warehouse worker to the multi-millionaire businessmen each one added to my life in a different now if it's all right with you i'd love to take you on the same journey as me

[00:55] and no matter where you are in your life you will be able to take advantage and tips and tricks away that apply to you and you can use them to make more money passively and change your life just like i did so you're ready to

[01:08] buckle up and smash that like button but passive income now personally i don't like the term passive income as it a ton of money by doing nothing at all where nothing

[01:22] when i first heard about it i thought it was some kind of scam you know i always think when it sounds too good to be true it probably is tell you to go to university for you to get the best jobs you can but

[01:38] same 24 hours a day so if you truly want to you need to find a way to make money while others are asleep imagine if you spend a couple of days working but you get paid for that

[01:52] work forever even when you're asleep if you want a day off or really isn't a problem because with passive income the money is still flowing in that's what passive income is it's still a lot of work but

[02:06] just keeps paying you the real aim is to have as possible so eventually they can cover all your living expenses any extra that you make you can reinvest

[02:20] is to invest the money you earn by working and live off the money that comes in passively you then are able to retire early if you choose to do so in my teens i came across my first passive income idea i used to visit a

[02:34] teenager and i would always overhear the stock market every week they'd be discussing a new i didn't fully understand until one of the guys casually mentioned that

[02:48] he was a part owner of exxon mobil which is a massive oil and gas corporation but what got me really interested was he got paid a proportion of the profits in something called a dividend before

[03:01] this i'd always thought that the rich were the only ones that could invest in but this really opened my eyes to the fact that anybody can do it with just a all down what exactly is a dividend and how can

[03:15] you get involved with very little money and start earning some sweet passive income so when you invest in the stock market you're buying very small parts of companies called shares these provide companies with

[03:27] business to move things forward and hit their targets so you're really valuable to them without shareholders public businesses can't operate so a company gives you for being a shareholder in their

[03:42] business now not all companies pay a dividend it's completely up to the board but if they want a dividend and they pay themselves it means they have to pay you that dividend as long as it makes sense for their company to do so this money is

[03:57] paid out in cash on a monthly quarterly or even a yearly basis you stock low and selling it high but with dividend stock investing you never have to sell the stock to make money back how

[04:11] how do you actually get involved imagine i owned a business that sold i don't know what we got coffee mugs and i was looking for a shareholder and i came to you and i said look

[04:25] i need some money to fund my business would you like to be a shareholder all you got to do is put a dollar into the mug and then i will give you four cents back every year how does that sound this is

[04:39] as a percentage yield and in this particular incident it would be four percent it says a hundred cents in a dollar going to be getting i know that sounds quite small amount but

[04:52] over time that could build up especially with a few different investments so the companies with the highest percentage yields because you're going thought too but when you're thinking about investing

[05:06] it's very important to think long term and a small company that is lots of money to its shareholders has less money it can use to improve its and you can wave goodbye to that passive income source as it'll all be cut off

[05:20] so when you're looking to invest make sure to check these things long term you can find out all this information on trading apps like robin hood and weibull if you're interested you can also get

[05:33] two free stocks if you sign up with my link in the description and deposit a individual stock investing is risky though so i would highly recommend diversifying into different sectors

[05:45] so if something happens to one industry then you have others to keep you safe my main focus now is on low cost index fund investing as it's relatively low and low effort but it doesn't give you as much passive income

[05:58] i talk a lot more about index funds in many of my other videos so make sure to so it really depends on your goals and the time you have to research individual my second passive income idea is selling online and this came from a technology

[06:13] whiz kid called alan now i used to use ebay personally but i just couldn't get business one day i bumped into helen and this was lego together with and i found out he was now running his

[06:27] own business grossing over a hundred thousand dollars per month on ebay as i wanted a little bit of that and this rapidly turned into a major revenue stream which sells my products all around the globe every day 24 7.

[06:42] products online as a side hustle or even as a business and you can use platforms such as ebay or amazon and many others because you can do drop shipping which is where you just market the

[06:56] product and the supplier sends it directly to the buyer without you even seeing or touching it i prefer using ebay because i have my but if i was just starting out then drop shipping would be a good side hustle to

[07:09] improve my marketing and business skills some good tips for selling online are basically take care of your profit margins particularly you need to be sure you're making money as any full can give away the product

[07:23] but a good entrepreneur always makes money on every single cell and also try and find items that are either very popular or very unique because you're going to sell so many more of them

[07:35] and potentially make more money and do a better job of marketing and promoting now this usually involves writing your own descriptions and adding personal and taking better photos even if you have a great product

[07:49] it will not sell if you don't market it well my best mate stuart was the idea stuart is an extremely successful businessman we've gone on multiple ski trips and he's actually been my best man

[08:03] at my wedding for as long as i've known stuart he's been investing in property real estate is one of the safest long-term investments you can have and it took me a little too long to realize this like stocks i originally

[08:15] thought i would start investing in real estate and making passive income once i had enough money behind me but that couldn't be different ways that you can make passive income from real estate

[08:27] without even buying a property so imagine there's a big pot so say something like this and everyone wants to be in the property game but can't afford to own their own house so they pop their money in the pot thank

[08:39] you very much have we got some more oh thank you very much just like so the person in charge of the pot me in this case can go and take this and choose a range of properties to invest in and once they start renting them out

[08:52] you'll be able to share in the profit of the investment and what it creates this crowdfund but even though you know where your money is you don't have a lot of control over it if you want more control over a property

[09:05] then you could always go the rent to rent route this is a pretty simple idea in a popular area that you can rent then you have a chat renting you the property which you can then go on to rent to

[09:20] other people so you can actually be a landlord without actually owning the a great way of doing this nowadays is with online platforms like airbnb people are making millions using this strategy but you need to be aware that

[09:34] the more properties that you take on the more responsibility you have for paying the rent so it's a good strategy as long as you're willing to take on the risk the way i chose to invest in real estate was to save up a 20

[09:46] down payment then i purchased a single family home as i believed it would give passive income possible and if you're not at the stage to be able to do that yet because you don't have enough money start saving you only need 10 to 20

[09:59] as an added benefit the tenants also pay off your mortgage so you're left with a property that is completely owned by you and you have the ability to rent it out monthly bringing you a nice bit of

[10:11] my fourth passive income idea is starting a youtube channel my son has always enjoyed watching youtube and he actually grew his own youtube channel landed him trips all over the world with brands like red bull

[10:24] really showed me the power of social media and recently when i had a bit more time i realized that i could make videos helping people to grow their wealth an added benefit was that we could put ads

[10:38] to cover my equipment cost which allows through a passive income source actually don't tell him but we're only 2 000 behind him on subscribers so

[10:50] him by the end of this month this is something anyone can do with just an iphone and some basic youtube knowledge which can all be found for free guess where on youtube itself

[11:03] now ads aren't the only way to make money on youtube another passive way is affiliate marketing i understand that not everyone wants to be a youtuber so a good way to make some easy money

[11:15] would be to film simple review videos on a product and your amazon affiliate link to buy it think of it like unbox therapy the amount of views they get on that channel every day is just

[11:27] mind-blowing whenever they buy from your affiliate link then you'll get paid a the most important thing is that the video content is always relevant and it never goes out of date so once you've made the video

[11:41] you could be making passive income forever my fifth passive income idea is inspired by a meeting that i had with richard branson you know the guy that owns virgin i discussed with richard

[11:53] how the world was changing and how information was becoming more valuable than gold what an age to live in just think about some of the top companies airbnb has no real estate

[12:05] companies airbnb has no real estate facebook creates no content and netflix truly changed the game this simple meeting really had a dramatic impact on my life and my business as i started to be more

[12:20] open to new online opportunities i started selling a digital flight simulation program we only had to create that once and then hundreds and hundreds and hundreds of times passively

[12:32] in my sleep it was perfect here are some ideas that you can try in-app purchases you've probably seen a lot of youtubers promoting raid shadow legends i mean this would be a perfect brand

[12:45] armor in that your weapons you name it there's an upgrade for it for a little bit of money and that money is going straight into what he doesn't have to go out and make a

[12:58] sword he doesn't have to go out and make a new suit of armor for you it's just a little bit of code and he can sell that simple line of code over and over again and how about this not everyone has the time to build up a

[13:11] so if you don't have a lot of money but you do have a lot of time for example and then sell that on for a profit to important thing to remember is your most valuable possession is

[13:26] i'm talking about your knowledge your knowledge is something that can be product and sell that many many many times over i'm talking about online courses ebooks anything that takes a little bit

[13:42] but allows you to sell your knowledge over and over again i've met so many great people along the way that have helped me build my passive income sources so never underestimate what someone can offer you

[13:56] does not mean he doesn't have an angle someone used to like sitting and playing with lego models it doesn't mean that he's not going to grow up to be a great businessman

[14:08] you including yourself you're going to love this next video i picked it specifically for you but don't click on it just yet don't forget to subscribe to the channel like the video and ring that

[14:22] wealth see you on the other side