My 9 Sources of Income at Age 32

Summary

In this video, Nisha shares the nine income streams she has developed over the last two years, moving beyond her 9-to-5 job. She highlights YouTube AdSense, dividends, a community platform, sponsorships, active income from accounting, real estate, public speaking, affiliate marketing, and courses. Each stream is designed to reduce financial risk and create diverse income opportunities, with an emphasis on strategic investments and leveraging existing resources. Nisha’s approach to building passive income streams and maintaining active ones offers valuable insights for anyone seeking financial independence and growth.

Takeaways

• 😀 Nisha emphasizes the importance of building multiple income streams to reduce reliance on a single source of income.
• 😀 Two years ago, most of Nisha's current income streams didn’t exist, showcasing her transformation from a 9-to-5 job to financial independence.
• 😀 Relying solely on active income is risky because it limits earning potential and puts all your financial eggs in one basket.
• 😀 YouTube AdSense can be a profitable income stream once you hit 1,000 subscribers and 4,000 watch hours, with earnings varying based on CPM and RPM.
• 😀 Dividends are a passive income source from shares in companies, and Nisha prefers investing in dividend funds for diversification and risk management.
• 😀 Nisha's community platform, still in its soft launch phase, focuses on building long-term sustainable income but is currently loss-making.
• 😀 Sponsorships are a significant income stream, with Nisha being selective about brands she partners with to maintain her reputation.
• 😀 Active income from Nisha’s accounting work, while non-scalable, allows her to keep her professional skills sharp and maintain credentials.
• 😀 Real estate income is a long-running source for Nisha, with a focus on commercial properties and REITs for lower capital entry.
• 😀 Public speaking has allowed Nisha to monetize her expertise in personal finance, starting small and building her reputation over time.
• 😀 Affiliate marketing involves earning commissions by promoting products or services through referral links, a strategy Nisha uses effectively for financial platforms.
• 😀 Courses are a long-term income stream that can generate earnings after the initial creation, and Nisha advises validating demand before investing time in course development.

Q & A

What are the nine income streams that Nisha currently has?

Nisha currently has nine income streams: YouTube AdSense, dividends, a community platform, sponsorships, active income from accounting work, real estate income, public speaking, affiliate marketing, and courses.

How did Nisha build her first income stream, YouTube AdSense?

Nisha built her YouTube AdSense income stream by meeting the requirements of 4,000 watch hours and 1,000 subscribers, after which YouTube began showing ads on her videos. She earns revenue based on CPM (cost per thousand views) and RPM (revenue per thousand views).

What is the difference between CPM and RPM in YouTube monetization?

CPM is what advertisers pay per thousand views, while RPM is what creators actually receive after YouTube takes a 45% cut. Nisha shared an example of her videos with different CPM and RPM rates to highlight the revenue potential.

What is the role of dividends in Nisha's income streams?

Dividends are a passive income stream that Nisha earns from owning shares in companies. She prefers to invest in dividend funds to diversify her risk across multiple companies rather than investing in individual stocks.

Why is Nisha's community platform currently loss-making?

Nisha's community platform is loss-making because she has invested in various resources like a community manager, a personal finance expert, platforms for hosting, and coaching courses from industry experts. These costs are being covered during the soft launch phase as the model is tested.

How does Nisha plan to make her community platform sustainable?

Nisha plans to make her community platform sustainable by gradually increasing the pricing once the operational costs are covered, starting with 500 founding members at a special price.

What type of sponsorships does Nisha accept for her videos?

Nisha is selective about the sponsorships she accepts, only partnering with brands she genuinely trusts and believes in. This is because it takes years to build a reputation, and she wants to maintain that trust with her audience.

How does Nisha maintain her active income from accounting work?

Nisha maintains her active income by continuing to work as a chartered accountant, helping businesses manage their accounts. She does this to maintain her membership and to stay sharp in the field, even though it is not a scalable income stream.

What is Nisha's strategy in real estate investing?

Nisha has shifted her real estate investment strategy from residential to commercial properties, particularly in the UK, as commercial properties often provide more steady income streams with longer tenancy agreements and less hands-on management.

What is Nisha's approach to public speaking as an income stream?

Nisha began public speaking at smaller events for free, focusing on personal finance topics. As her reputation grew, she started receiving paid speaking opportunities, including engagements at major organizations like Google.