Summary of QUIT Your Job FAST with These 20 Passive Income Streams!
Main Financial Strategies:
- U.S. Treasuries: Considered a safe investment, currently yielding around 4.82% to over 5%.
- Certificates of Deposit (CDs): Easy to set up with banks, offering returns close to treasuries, insured up to $250,000.
- Money Market Accounts: Accounts that yield interest while allowing access to funds, with some offering rates as high as 5%.
- Sweep Accounts: These accounts allow banks to manage funds overnight, providing a small return.
- Dividend Stocks: Investing in stocks that pay dividends, such as Oki Energy, can yield significant returns and cash flow.
- YouTube Content Creation: Creating evergreen content that generates ad revenue over time.
- Cryptocurrency: Investing in cryptocurrencies and earning interest on holdings.
- Real Estate Investment Trusts (REITs): Investing in a trust that owns and manages real estate, providing passive income.
- Renting Out Stocks: Allowing others to borrow your stocks for a premium while retaining ownership and dividends.
- Real Estate Rentals: Purchasing rental properties and potentially using property management services.
- Airbnb Hosting: Renting properties on Airbnb, either owned or leased.
- Car Rentals via Turo: Renting out personal vehicles through Turo.
- Amazon FBA: Setting up a Fulfilled by Amazon store to sell products.
- Royalties: Earning from creative works such as books or patents.
- Real Estate Crowdfunding: Using platforms like Fundrise to invest in real estate with minimal amounts.
- Peer-to-Peer Lending: Lending money to individuals through platforms like Prosper, with potential high returns.
- Index Funds: Investing in index funds as recommended by Warren Buffett for long-term growth.
- Online Business Creation: Building software or services that generate recurring revenue.
- Affiliate Marketing: Earning commissions by promoting products or services through referral links.
- Digital Content Creation: Selling digital products, courses, or stock photography.
Methodology/Step-by-Step Guide:
- Invest in U.S. Treasuries for safety.
- Open CDs or Money Market Accounts for steady returns.
- Consider dividend-paying stocks for cash flow.
- Create and monetize content on YouTube.
- Explore Cryptocurrency investments for diversification.
- Utilize REITs for real estate exposure without direct management.
- Rent out stocks and properties for additional income.
- Set up an Amazon FBA store for passive product sales.
- Engage in peer-to-peer lending for potential high returns.
- Build an online business or affiliate marketing strategy for recurring income.
Presenters/Sources:
In the video "QUIT Your Job FAST with These 20 Passive Income Streams," presenter Andrew Cartright shares various strategies for generating passive income, emphasizing that these methods allow individuals to earn money without continuous effort after the initial setup.
Notable Quotes
— 02:10 — « The US dollar is the Lynch pen of the entire economy in the United States and many would argue it's the whole world that it's the Lynch pen for which I happen to agree. »
— 10:39 — « This is where someone else goes out and buys a bunch of real estate and the open market and you see it on the stock market. »
— 15:30 — « Every single month I get paid from Barnes and notables from Amazon from all the different book distributors. »
— 16:15 — « Peer-to-peer lending is where people are able to lend to other people. »
— 18:36 — « You can make courses you can take pictures pictures are a cool way. »
Category
Business and Finance