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The Millionaire Millennial has some great ideas on how to make passive income but I’ve got one big gripe about his video. I’ll share his six favorite passive income ideas, what I think about each and how to set them up in this reaction video.
I’ll also reveal two more passive income sources Jordan missed in his video, two income streams that can generate thousands a month and that anyone can start.
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I agree…mostly with Millionaire Millennial’s passive income ideas but wanted to go a step further with this video. I wanted to give you the resources and process to actually start using some of these residual income ideas and start making money today!
That’s why I wanted to walk through each of Jordan’s favorite ideas, detail them out and point you in the right direction for making money online. Each of these eight income streams can be started in your spare time and most will become passive income within a few short weeks.
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Looking for more passive income videos? Check out a few of the best here:
10 Best Side Hustle Ideas https://youtu.be/KPjnEGhMCbQ
7-Stock Portfolio for Passive Income Dividends https://youtu.be/Rif_AG6RfMs
The Truth to Becoming a Millionaire [My 4-4-3 Code] https://youtu.be/MIpbkkuPFZ0
Whether you’re looking for a full-time work from home business or just to make a little extra cash, creating passive income is something everyone needs. Nothing else will help you reach that financial independence as quickly or as surely as generating passive income online through some of these ideas.
Check out the original video, How to Make True Passive Income by the Millionaire Millennial here https://youtu.be/DZoEzQaXCfw
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
Want to see ALL 18 passive income streams RANKED? 😲 Don't miss this video! https://youtu.be/rDM00d-q0vA
I agree that real estate is not passive income. You need a very reliable property manager and you need to check on property yourself.
I love the transparency
With halving coming up in may you may want to have some Bitcoin in your portfolio.
You bet. Investing can be used to generate passive income. Creating an asset vs. investing in someone else's creation is the same to me. Creating an asset requires up front investment of time (and time is money) where investing in someone else's creation to create your own asset also requires an up front investment in time (the work to make the money). When speaking of dividend investing or real estate investing or P2P investing, all end in the same result, regular interval cash flow. I consider investing more passive in fact. Investing does not require constant monthly or even weekly maintenance to continue marketing your self-created product or asset (real estate being the exception).
Great video but really man, you should stop wearing the bowtie.
I’ve written 3 books (& still writing). It’s hard to consider books as passive income with the amount of work it takes advertising them. Plus the amount of time it takes to write a full length novel.
Unless a writer has an audience to begin with or has built one up, it’s a lot of work before I’d consider it to be passive.
Congrats on your books’ success!
I'm currently investing in RH long term, diversified but mostly dividend growth stocks, I am saving on the side, I really want to start a vending machine business. If I can get some high traffic locations I think it would be a great path to passive income
Why would dividend investing not be passive?
No, I do not think that investing is passive income. You have to make the initial money that you need to put down on the investments.
Hi! Do you have a video that shows comparisons between crowdfunding real estate companies? Would love to know which ones are good and reliable and safe. Thanks so much!
Love the video. I don't think of anything you have to upfront the money into as true passive income. I think of it as investment pay back. Until the money you paid into it is paid back. Then it becomes true passive income.
Remember the rule you always have to pay for it with time or money, and as most people looking to start making money. We know that our time to do something can equal to money lost.
Hi I watched your other video and right now I'm setting things up. To become a notary I feel I can do this I love this idea thanks for the information love the videos
Starting to move some of my growth stocks into divided paying stocks & reits
How about fundrise is good please check it out tell what you think
Question,
Do you think nokia (NOK) is a good idea to buy stock in now that they are collecting royalties from HMD a private company for smart phones they don't even make?
I day trade for a living. Its a 40+ hour a week job.
You have great educational content. This channel targets viewers with dudiligence
The only "100%" passive income stream is dividend investing. Put money in and you get paid a set amount consistently (assuming average returns). Everything else will take more work but can also generate more in returns. People shouldn't be focusing on passive income. They should be working to build their nest egg even if that means more work upfront. Don't let the start up cost and hours scare you away from a gold mine.
no investing is not passive income, it's just to grow wealth and retain value.
Investing can be passive if its initially setup for the long term, their is dividend income at least yearly, and its completely automated. Otherwise, you will have to do work to review holdings and buy/sell as needed.
How do I consider income from stocks, or other investments, where I had to put up that initial $$$?
Personally, I have always considered it "passive", because once the purchase is made, there is little to no "upkeep". *HOWEVER*….
Those are income streams currently beyond my reach.
Right now, I have little time or $$. What I DO have is knowledge and experience.
Your vids about online publishing etc, are possibly exactly what I need. I'm almost 50, so I really NEED the "idiot's guide to the internet/youtube/webthingermabobbie" 🤣🤣
I can learn just about anything, and once I own knowledge I can use it. It's the WAY I learn, and just how much I need to work to learn because I haven't absorbed it, or whatever.
Anyway, THANKS!
-KOKO