7 THINGS NO ONE TELLS YOU ABOUT PASSIVE INCOME (UK EDITION)

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Interested in how to make Passive Income UK perspective? Today I share 7 things NO ONE TELLS YOU about making Passive Income. This will help you as a beginner passive income earner to make your passive income ideas 2020 a reality! Which of the 7 stood out for you? Comment below 😊 β™₯.

To implement real Passive Income Ideas and more, join, get mentored and learn with us directly πŸ‘‰πŸ½: https://financialjoyacademy.com

Making passive is critical for achieving a goal of Financial Independence/Financial Freedom.

5 BREAKTHROUGH Passive Income Ideas (for Β£1000 per month) – https://youtu.be/FJUKYuo6Oyw

β˜…β˜… TIME STAMPS β˜…β˜…

#1 – 1:38 – Around 80% of your Passive Income will eventually come from around 20% of your efforts. So the type of passive income you pursue actually matters.
#2 – 3:35 – There are no instant results when it comes to making passive income.
#3 – 4:24 – You need a platform in order to start generating passive income consistently.
#4 – 5:30 – You need to upskill in order to begin generating decent passive income.
#5 – 6:34 – Passive income is not 100% passive. E.g. Some might be 80% passive and 20% active.
#6 – 8:27 – Passive income requires a lot of work (initially and ongoing work for most of them).
#7 – 9:55 – You need to have realistic income goals in order for passive income to become real for you.

β˜…β˜… POPULAR VIDEOS β˜…β˜…

9 BEST Passive Income Ideas for Β£1000 per month (In 2020) – https://youtu.be/qwn_Gc46ahE

21 Passive Income Ideas For A Freedom Lifestyle – https://youtu.be/TIOBlUDtHsc

14 HIGH PAYING SIDE HUSTLES For 2020 To Start Today With Little Money – https://youtu.be/brAvEZCl0ys

Why MOST PEOPLE DON’T Make Passive Income (and how you can) – https://youtu.be/AUwgTvo80VY

How To Invest Β£1000 (9 Best Ways to Invest) – https://www.youtube.com/watch?v=0jRQk8Xkvxg

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Our Membership Programme – https://FinancialJoyAcademy.com

21 Passive Income Ideas For A Freedom Lifestyle – https://thehumblepenny.com/passive-income-ideas-for-a-freedom-lifestyle

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β˜…β˜… ABOUT US β˜…β˜…

MARY:

I’m married to Ken and we have two boys aged 6 and 4. I’m a Londoner, born in Hackney! πŸ™‚

Day to day, I run the operations of The Humble Penny as a creative – doing everything from marketing to video editing. I studied Multi-media design and technology at Uni.

When I’m not creating, I love vegan food, traveling, working out and doing some outdoor fun things with my husband and kids πŸ™‚

KEN:

I’m a husband to Mary and daddy first and foremost.

Former CFO by day with over 12 years experience in the investment business. I’m a Chartered Accountant and hold an MBA from Cambridge University.

To explore my creativity, I’m a blogger, youtuber, speaker, etc. I create from my experiences as a family man and First Generation Immigrant.

I have a passion for all things Personal Finance, Business and Personal Development. I also love Photography, Music, Travel, and Sport.

We became Financially Independent aged 34 and our story has been featured on the BBC, Mail Online, Channel 5, Metro, etc.

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Massive thanks for watching and following our channel πŸ™‚ β™₯

Best, Ken and Mary

#passiveincomeideas #passiveincomeuk #financialindependence

β˜…β˜… WHAT THIS VIDEO IS ABOUTβ˜…β˜…

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Comments

The Humble Penny says:

Do you currently generate any passive income? Please share what sources you get passive income from πŸ™‚

Rowena Dann says:

Good luck!. Hoping those people who join there will become richπŸ˜›

Chris Hedley says:

I get passive income from Crypto market by selling bandwith for a VPN service. It required small investment but now gives me a small passive income.

Mehmet Kara INVESTMENT ACADEMY says:

Great video about passive income. This is definitely my favorite income source. Looking forward for the next video with 5 passive income ideas πŸ˜‰

Dave a says:

I want to generate one or two passive income but I am not 100% sure no long it will take me and maybe where to start.

Punit Raj Kotecha says:

Hi your really helpful as there’s not many people on here explaining for uk do you have any videos for what taxes to pay in uk for passive income pls??

Mind Leaves says:

This is a solid video, enjoyed how you explained the basics and also that passive income is not always that passive BUT actually quite consuming. All about the mindset and understanding that every little bit has an effect going forward and ultimately every little bit will be a lot. Liked and Subscribed!

IxAMxYOURxFATHER says:

As a person living in the south east of England, house prises are supper high! I saved up Β£50k by the age of 27 and used this money to get a mortgage on a two bed flat for Β£135k in 2014. During the six years of living in the flat i have rented out the spare room which generates an income of Β£90 a week, TAX FREE! I use this money to make overpayments on my mortgage which should make me be mortgage free by the age of 40. Renting out the spare room has been the best passive income for me but it's not for everyone.

Baldy's Kitchen says:

Really love your content keep going guys

Life Joy Adventure says:

Hi Ken, Great channel. Thanks a lot.

David Carrington says:

For us:
1. renting out a room through Spare Room. Easy but with some difficulties.
2. Going plant-based vegan which saves on food bills and ultimately improves health which out ranks financial wealth. Difficult though.
3. we cancelled Christmas 2019 completely. No presents, alcohol or special food. Crazy perhaps but effective at keeping one's budget healthy (and you can still be kind to people!).

Paul James says:

Great video Ken, when talking about upskilling, what have you learnt upskilled in over these last years? I.e. did you complete training courses? Can you also link the url to the video editing course Mary completed thank you both πŸ™‚

Veronia Spaine says:

Yes such true points! I’m a massive believer of you reap what you sow – if you put in the hard work now, the more you can enjoy the benefits & the passive income later!

Marva c says:

The most common sense video on passive income yet! It irks me to see so many touting the idea that there is no effort required to generate passive income. It is an upfront time and effort investment for future income. The point about upskilling is also crucial and I would even argue that it would still apply even in the service based business because innovation is key in anything you do. People need to understand there is no real Get Rich Quick scheme but there are Get Rich In the Not Too Distant Future options! πŸ™‚

TotalJargon says:

When you first started making passive income you would have still been in a job right? How did you go about taxes, do you still register as self employed while you're still employed by a company, or is there a specific process to those who fall into both camps?

moneybee says:

You're so right that passive income often times isn't truly passive! But if you put in the work, it certainly can be a more passive way to build wealth! Some really great pointers! I love growing (and reinvesting) passive income!

gabriel o says:

Hi Ken, I started following your videos at the start of the lock down. As i thought it might be a good time to invest in shares but had no idea where to start. Investing will now become part and parcel of my future wealth plan. Shares and investing appear to be a gateway to achieving long term goals, ( they didn't teach us this at school). One example i had was Investing 3k in a company that i researched and coming back 2 months later to see it was now 6k. It blew my mind, this was passive income, apart from the research time. So thrilled to start becoming financially ''WOKE.''' Thanks Ken

BuzzaB77 says:

If I can give you a really concise analogy: just think of i like music artist (not a really famous one). The initial effort is far from passive, you still need to make the initial effort of making the tunes, finding thumbnails and key words, uploading to spotify etc before you start seeing any passive income from 'royalties', and by 'platform' he means you need a brand, a message, a voice, something that's you, a reason for people to trust you or find you in the first place so it will scale.

LDN 876 says:

Up skilling. So true!

iMiniEnzo says:

I'm loving your videos man. Could you please make a video on what to do/what you should be doing when you're 18 up until your early 20s if that makes sense

Investing with Dean says:

Great points here! Passive income (mainly) is not passive, but definitely beats working your whole life!

Ulrike Schulz says:

I'm so into passive income ideas at the moment so this is brilliant. I'm learning everything about it and started a few already πŸ’ͺ🏻

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