Why I Left My 9-to-5 Job
So one of the main reasons why I decided to leave my 9-to-5 job maybe 6-ish years ago now was because as soon as I started working that job I realized that you only get paid one time at the end of the month and as soon as you stop working at that company they don’t continue paying you for all of the years that you put into that particular company. So I thought you know what let me put my time into something that will continuously keep generating me a passive source of income even if I decide to stop working on that particular thing I’m still going to be able to benefit from all of the hours that I put into it and that’s exactly what I’m going to be talking about in today’s article.
Building Passive Income Streams
I’m going to go through around eight maybe nine of the passive income streams that allow me to generate over $330,000 every single month. The reason why I’m a big fan of building up passive income streams is because you’re going to be able to travel around the world to any location that you want you’re going to be able to live a life of pure freedom and you’re going to be able to make money whilst you’re doing it so make sure that you stick around for this entire article from start to finish because you’re definitely going to learn something that’s going to change your financial situation.
Affiliate Income via Recurring Commissions
Now jumping straight into one of the first passive income streams that I’m going to talk about that contribute to me being able to earn over $30,000 per month in profit which is to earn affiliate income via recurring commissions and this might sound a little bit confusing if you’re completely new to this concept so let me quickly break it down. Now when I say affiliate marketing what this means is that you don’t have to own the product you don’t have to build the product the way that affiliate marketing works is that you’re going to find products and services that already exist on the internet there’s so many different ways that you can get your affiliate link most people believe that affiliate marketing is some sort of dodgy business when in reality a lot of the biggest brands out there have an affiliate program that you can sign up to so this is definitely a great way to earn money online.
How Recurring Commissions Work
But specifically when it comes to being able to generate a passive source of income when I say that you should look out for affiliate programs with recurring commission what this means is that when someone clicks on your affiliate link and buys whatever product or service that you’re promoting you’re not only going to get paid that one single time but you’re going to be able to continuously keep getting paid for as long as that customer keeps using that product or service. So the way that I’ve been able to earn a passive source of income that allows me to earn money every single day with recurring commissions is because I’ve got various different affiliate links out there on the internet in so many different ways and even when I’m fast asleep all of these different links are getting thousands of different clicks and you’re going to be able to do the exact same thing as well where you don’t even need to show your face on camera you don’t need to use your own voice there’s so many different ways that you can build up affiliate marketing businesses and if you want a little bit more information on exactly how you can get started with this be sure to sign up to my completely free affiliate marketing masterclass I’m going to leave it down below it’s going to be the top Link in the description.
Cryptocurrency as Passive Income
But swiftly moving on to one of my second streams of passive income which is with cryptocurrency now I’m not saying that this is one of my favorite ways to earn a passive income and you do need to be aware of the fact that crypto is very volatile too but I definitely have some money placed in various different crypto coins I’m not going to explain exactly what cryptocurrency is because I’m sure that you guys know exactly what it is by now and I do have to be honest that crypto isn’t the main way that I’m earning a passive income from investing I’ve only got a couple tens of thousands of dollars in a couple different coins mainly Solana Ethereum Matic I don’t really like to put my money into meme coins I like to put my money into coins that have the potential of rising due to their utility.
Potential Crypto Bull Run
Now there is a lot of speculation when it comes to crypto but I do think there is going to be a bull run coming up real soon this isn’t financial advice this is just my observation on what I’ve done research on. Now the main way that you can earn a passive source of income from crypto is of course when the coin goes up you’re going to be able to make a profit but there’s also ways that you can stake your money that you’ve invested into a particular coin for you to earn interest on the money that you put into that cryptocurrency and I don’t want this video to get over complicated but if you wanted me to make another aarticle breaking down exactly how you can get started with cryptocurrency investing if you’re interested in it then put in the comments down below do the crypto article and I’ll get onto that ASAP.
Investing in Index Funds
But this now brings me on to the main way that I like to invest my money which is into index funds and for those of you that’s not really sure of exactly what an index fund is the reason why I like it is because I believe it to be one of the most passive ways of earning a source of income and the reason for this is that when you put your money into an index fund you don’t have to monitor it every single day of course there’s always going to be dips there’s always going to be times where it’s going to rise but because I like to make sure to put my money into index funds with a track record I’m able to earn a profit on the money that I put into it and I’m also able to earn a dividend every 3 to 4 months and for those of you that are completely confused on what an index fund is all it is is a group of different companies and when you buy into it you’re buying a small portion of shares of all of those different companies that are in that particular fund.
S&P 500 Investment Strategy
The most popular Index Fund out there and the one that I mainly invest in into is the S&P 500 the S&P 500 is the top 500 companies in the United States it’s got companies like Microsoft Apple PayPal alphabet also known as Google various different companies that do really really well and as long as you’ve got a good strategy of buying into something like the S&P 500 once a week maybe once every two weeks if you’re able to be consistent with it then it’s definitely going to be a great way to earn a passive income but moving on to one of my next passive income streams which is with high yield savings accounts.
High Yield Savings Accounts
Now everyone that’s reading this blog right now even if you’ve got $100 to your name $11,000 to your name whatever it is you shouldn’t keep your money in a basic current account ideally what you want to do is try and open up an instant access high yield savings account and there’s so many great options right now when it comes to various different banks that are offering maybe 3% 4% even as high as 5% this means that you don’t have to do anything at all but if you put your money into these accounts you’re going to be able to receive interest payments once a month and of course the more money that you start to make the more beneficial this is going to be.
The Power of Having Money
Back when I was completely broke and I never had a single penny to my name I never really understood the concept of it takes money to make money but there’s people out there that have over 20 million 30 million 40 million and because they’ve got all of this money all around the place in various different accounts they’re able to make money without even lifting a finger simply because they’re putting their money in the right places but swiftly moving on to one of my next passive income streams that contribute to me making well over 30 40 $50,000 every single month which is with blog websites.
Making Money with Blog Websites
Now at the moment I’m operating a couple different blog websites and most people believe that they’re dead and they don’t work and you can’t make any money from them and I couldn’t be more far from the truth because when it comes to building up a Blog website there’s a certain way that you should do it and if you’re able to build the blog website in the right way then being able to earn money when you’re fast asleep is definitely possible and for those of you that’s not really show exactly what a Blog website is literally all it is is a site that you’re going to build with the intention of posting blog articles on it so you’re not necessarily going to sell any products you’re not going to do e-commerce on it it’s going to be a website where you’re going to post informative articles about a particular topic and the more consistent that you are when it comes to posting these different blog articles the more you’re going to get ranked on Google and if you are able to get your articles ranked on Google and you’re able to build up traffic going onto your website on a daily basis basis then being able to earn money from your website in a number of different ways isn’t going to be difficult.
The Journey to Passive Income with Blogs
And to be fully transparent I’m not saying that the initial stages of building up the website is going to be completely passive because of course if you’re a complete beginner that’s trying to do it there’s going to be a learning curve that you need to go through but once you get your blog website up and running and you’ve got a consistent schedule when it comes to the articles that you’re publishing from there you’re going to be able to Outsource and automate various different aspects of your website so that you can sit back and watch the money come in and there’s a number of different ways that you can earn money from websites just like this one of the methods is with Google AdSense payments and AdSense is a great way of earning a passive income online.
Google AdSense: Website and YouTube
There’s two main ways that you can do it as I just said you can do it through a website when you sign up to the AdSense program you’re then going to be able to link your blog website to your AdSense account which means that whenever someone goes onto your website and they scroll through it if they click on one of the banner ads you’re going to be able to earn money and of course you’re not shipping out any products you’re not doing anything like that the only thing you’re doing is getting traffic onto your website and from there you’re going to be able to earn that passive income.
Selling Searchable Digital Products
But moving on to one of my next income streams which is completely passive which is by selling searchable digital products so in the initial stages of building your digital product you’re going to have to put work into it to make sure that it’s up to standard this could take long this could be really quick depending on what type of digital product that you decide to sell but once you’ve built the digital product and it’s out there on the internet as long as you’ve made sure to pick one that you know people are actively searching for then you’re going to be in a position where people are going to find your digital product and you’re not going to have to ship anything out because of course everything is going to be done automatically and there’s a number of different ways that you can sell a digital product you can either do it through Marketplace is like Udemy or what you can do is sell it on something like Etsy.
Using Teachable for Digital Products
Now the way that I like to sell my digital products no matter what it is whether it’s an ebook whether it’s some sort of PDF Guide online course whatever I like to use a platform called teachable reason being is because if you’re able to upload your product to teachable as long as you’ve made sure to create a really good product and you’ve also made sure to fill out the SEO section in the back end of your teachable account teachable is going to do everything when it comes to getting that product ranked on Google so that you’re going to be able to get organic sales so selling digital products is definitely one of my favorite ways of making money online and I’ve been able to generate hundreds of thousands of dollars in doing so passively where I don’t really have to put in too much work and I’ve got more videos coming out real soon when it comes to exactly how you can get started with selling digital products as a complete beginner and the best ones that you should sell so make sure that if you want to see that video you press the like button and you subscribe down below hit the Bell notification so that you don’t miss it once I release it.
Newsletter Business for Passive Income
But this now brings me on to one of the next ways that I’m able to earn an income passively anywhere around the world which is with a newsletter business so at this present moment in time I’m currently operating around three different email newsletters and a couple of them are completely automated and outsourced so I don’t have to sit there and write the emails myself and even if I did have to it’s not difficult to do it because you can schedule the emails far into the future imagine building up an email list where you’ve got 10,000 20,000 30,000 people on that list opening up your emails every single time that you send one this is a really powerful situation to be in because it allows you to have direct communication with someone directly to their phone because most people check their emails on their iPhone which of course means that you’re going to be able to recommend various different products and services and majority of them can be affiliate products and services where again you don’t have to own them yourself.
The Power of Email Newsletters
I believe that every single person that’s looking to make money online should have some sort of an email newsletter because it’s one of the best ways to earn money on the internet. Now of course there’s various different steps that goes into this and if you want to read a previos article that I made where I go through everything you need to be aware of as a complete beginner that’s looking to build an email newsletter business.
