Beginner Passive Income Ideas to make $5,000/mo

Summary

This video script offers five actionable passive income ideas for beginners, emphasizing the initial effort required for long-term rewards. It covers creating ambient YouTube videos, selling PLR digital products, engaging in affiliate marketing, exploring swing trading, and utilizing certificates of deposit for guaranteed returns. The speaker shares personal experiences and strategies to help viewers break free from paycheck-to-paycheck living and achieve financial independence without constant work.

Takeaways

• 😀 The speaker has achieved significant financial success by focusing on passive income over the past four years.
• 💡 The speaker aims to share five passive income ideas that are suitable for beginners and have been personally tried and tested.
• 🔒 A disclaimer is issued that initial effort is required for passive income, emphasizing that nothing comes without some initial hustle.
• 🎥 The first passive income idea is creating ambient videos on YouTube, which can generate revenue through AdSense and other monetization strategies.
• 🎨 Ambient videos are easy to make, requiring only a stock image, green screen footage, and appropriate soundtracks.
• 📈 The potential for monetization extends beyond AdSense, including affiliate marketing and digital product sales.
• 📚 The second idea involves selling digital products, such as PLR (Private Label Rights) products, which are pre-made and ready to be resold.
• 🔗 The third idea is affiliate marketing, particularly focusing on products with recurring subscriptions to secure a steady income stream.
• 📈 The fourth idea is swing trading, a form of stock trading suitable for beginners that involves holding stocks for a few weeks to capitalize on price fluctuations.
• 💰 The final idea is investing in Certificates of Deposit (CDs), which offer a guaranteed return on investment after a fixed period without the need for active management.
• 🌐 The speaker emphasizes the importance of genuine promotion in affiliate marketing, recommending to only endorse products that one personally uses and believes in.

Q & A

What is the main focus of the video script?

The main focus of the video script is to introduce and explain five different passive income ideas that are suitable for beginners, and to provide insights on how to implement them.

What is the speaker's claim about their experience with passive income?

The speaker claims to have made the most money they ever have, working the least, by prioritizing passive income over the past four years.

Why do most beginner-targeted passive income ideas fail, according to the speaker?

The speaker suggests that most beginner-targeted passive income ideas fail because they are too complicated and don't actually work for beginners.

What is the first passive income idea presented in the script?

The first passive income idea presented is creating ambient videos on platforms like YouTube, which require minimal editing and can attract a large number of views.

How can one monetize ambient videos according to the script?

One can monetize ambient videos through AdSense, affiliate links related to the video content, and by promoting digital products or services that align with the video's theme.

What is PLR and how does it relate to the second passive income idea?

PLR stands for Private Label Rights, which allows someone to buy the rights to sell a pre-created digital product as their own. This is the second passive income idea mentioned in the script.

What is the advantage of selling PLR digital products over creating your own?

The advantage of selling PLR digital products is that they are pre-created, so one doesn't need to be a designer or spend time creating the product, allowing them to focus on marketing and selling.

What is affiliate marketing and how does it fit into the passive income ideas?

Affiliate marketing involves promoting a product or service and earning a commission for each sale made through a unique referral link. It is one of the passive income ideas where one can earn recurring income from memberships or courses.

What is the difference between day trading and swing trading as mentioned in the script?

Day trading involves making small, high-frequency trades, while swing trading involves making trades and holding them for a few weeks to a few months to profit from price fluctuations.

What is the last passive income idea mentioned in the script and how does it work?

The last passive income idea is investing in Certificates of Deposit (CDs), which offer a guaranteed return on investment after a fixed period without the need for active management.

What is the speaker's advice on choosing affiliate programs to promote?

The speaker advises choosing affiliate programs for products or services that one genuinely uses and believes in, to ensure authenticity and avoid promoting scammy or low-quality products.

What is the potential downside of selling digital products as a passive income source?

The potential downside is that once a digital product is sold, it cannot be sold to the same customer again, which limits the continuous passive income that can be generated from a single customer.

How does the speaker suggest finding suitable affiliate programs?

The speaker suggests identifying one's niche first and then searching for relevant affiliate programs online, such as by searching for 'productivity affiliate programs' if the niche is productivity.

What is the speaker's view on the importance of genuine promotion in affiliate marketing?

The speaker emphasizes the importance of promoting only those affiliate programs that one truly believes in and uses, as authenticity can be sensed by the audience and helps in building trust.

Outlines

00:00

💰 Embracing Passive Income for Financial Freedom

The speaker shares their success in generating passive income over the past four years, which has allowed them to work less while earning more. They aim to assist others in achieving financial stability by offering five beginner-friendly passive income ideas. The speaker emphasizes the importance of initial effort, dispelling the myth that passive income requires no work. They also highlight the potential of ambient videos on YouTube as a simple yet effective passive income source, requiring minimal editing and the ability to earn from AdSense and affiliate marketing.

05:00

📚 Leveraging PLR Products and Affiliate Marketing

The speaker introduces the concept of Private Label Rights (PLR) products, which are pre-created digital products that one can purchase and resell without the need for design or creation skills. They recommend websites like plr.me for sourcing PLR products and emphasize the importance of choosing a niche and promoting these digital products across various platforms. Additionally, the speaker discusses affiliate marketing, particularly the benefits of promoting subscription-based services, as a means to earn recurring commissions. They stress the importance of authenticity when promoting products and the potential for passive income through digital products and affiliate links.

10:02

🏦 Exploring Swing Trading and CDs for Passive Earnings

The speaker presents two alternative passive income methods suitable for those not interested in online activities or social media. The first is swing trading, a type of stock trading that involves holding stocks for a few weeks to capitalize on short-term price fluctuations. The speaker suggests that this method requires market research but is less demanding than day trading. The second method is investing in Certificates of Deposit (CDs), which offer higher interest rates than traditional savings accounts. CDs require the investor to commit their funds for a fixed period in exchange for guaranteed returns, making them a low-risk option for passive income generation.

Keywords

💡Passive Income

Passive income refers to earnings generated with little to no effort by the recipient, often resulting from investments of time or money. In the video, the theme revolves around the concept of creating passive income streams to achieve financial freedom and reduce reliance on active work. Examples include YouTube ambient videos and affiliate marketing, where initial setup leads to ongoing revenue without continuous labor.

💡Ambient Videos

Ambient videos are a type of content that features calming visuals and sounds, designed to create a soothing background atmosphere. The script mentions using Christmas ambient videos on YouTube as an example of a passive income source. These videos can attract significant views and monetization through AdSense, affiliate marketing, and other means.

💡Monetization

Monetization in the context of the video refers to the process of converting online content into revenue. The script discusses various methods of monetizing content, such as using AdSense for YouTube videos and affiliate marketing to earn commissions on product sales. Monetization is key to turning a hobby or side project into a passive income stream.

💡Digital Products

Digital products are items that can be distributed and consumed online, such as ebooks, templates, and courses. The video emphasizes creating and selling digital products as a means of generating passive income. Examples include using private label rights (PLR) products, which are pre-made and can be resold by the purchaser.

💡Private Label Rights (PLR)

Private Label Rights, or PLR, is a licensing model where the buyer acquires the right to rebrand and resell a product as their own. In the script, PLR is presented as a way for beginners to start selling digital products without the need for original content creation, thus simplifying the process of establishing a passive income source.

💡Affiliate Marketing

Affiliate marketing is a performance-based marketing strategy where an individual earns a commission for promoting and selling another company's products or services. The video highlights the importance of choosing affiliate programs that offer recurring commissions, such as membership apps, to create a steady passive income.

💡Swing Trading

Swing trading is a trading strategy that involves holding a position in a stock for a few days to a few weeks, aiming to profit from short-term price fluctuations. The script suggests swing trading as a passive income method suitable for those who do not wish to be constantly active online, as it requires less frequent trading than day trading.

💡Certificates of Deposit (CDs)

Certificates of Deposit, or CDs, are time-bound financial products offered by banks where money is deposited for a fixed term at a specified interest rate. The video describes CDs as a form of truly passive income, where the depositor is guaranteed a return on their investment at the end of the term, provided the funds are not withdrawn early.

💡High Yield Savings Account

A high yield savings account is a type of savings account that offers a higher interest rate than traditional savings accounts. The script contrasts high yield savings accounts with CDs, noting that CDs can offer higher interest rates, making them a more attractive option for passive income seekers.

💡Investing

Investing, in the context of the video, refers to the act of committing money to financial assets with the expectation of generating a profit. The script discusses investing in stocks and the strategy of swing trading as a means to create a passive income stream without the need for daily active involvement.

Highlights

The speaker has maximized passive income over the past four years by working less, emphasizing the importance of passive income for financial freedom.

The speaker aims to help others earn an additional few thousand dollars a month through passive income strategies.

Passive income opportunities are often too complicated for beginners, but the speaker offers five beginner-friendly ideas.

A disclaimer is issued that initial effort is required for passive income, contrary to the misconception that it's entirely effortless.

The first passive income idea involves creating ambient videos on platforms like YouTube, which can attract significant views.

Ambient videos are easy to create, requiring only a picture, music overlay, and potentially green screen footage for movement.

Monetization of ambient videos can extend beyond AdSense to include affiliate links and product recommendations.

Digital products are suggested as a means of passive income, with the speaker recommending the use of private label rights (PLR) products.

PLR products allow individuals to sell pre-made digital goods without the need for original creation.

Affiliate marketing is highly recommended, especially for products with recurring memberships that provide ongoing commissions.

The importance of choosing affiliate products that align with one's niche and personal use is emphasized for authenticity in promotion.

Swing trading is introduced as a suitable investment strategy for beginners looking for a balance between day trading and long-term investing.

Certificates of deposit (CDs) are presented as a truly passive income method with guaranteed returns at the end of a set period.

The potential for high yield with CDs, such as rates up to 5.15%, is highlighted as an advantage over traditional savings accounts.

The necessity of maintaining funds in CDs for an agreed-upon period to receive the promised returns is explained.

A variety of passive income streams is encouraged to diversify and increase one's income potential.

The speaker, Energy, invites viewers to watch another video for more income ideas and concludes the presentation.

Transcripts

for the past 4 years I've made the most

I ever have working the least that I

ever have this is all because I

prioritized passive income and I want to

help you make a few extra thousand a

month so that you can stop struggling

stop living paycheck to paycheck and

stop working yourself to the Bone for a

company when you could just have that

time for yourself and for your family

now I'm sure you've heard about passive

income hundreds of times and maybe you

have even tried some things but they

didn't really work out it's not because

you did anything wrong or like you just

you know AR an unlucky person it's just

that most things that are targeted is

like beginners passive income they're

too complicated they don't really even

work for beginners so in this video I'll

give you five passive income ideas that

actually work for beginners because I

have actually tried them just a

disclaimer though you do actually have

to work you do actually have to put some

hustle in in the beginning because

nothing is just going to be given to you

like nothing is just going to be so easy

you have to show up in the beginning

make something uh learn something do

whatever ever and then after that you

can reap the rewards for years to come

there's only one thing on this list that

actually doesn't really require any work

from you like you don't have to learn

anything you have to do anything you

could literally just sit on your couch

and make money but that would be the

last one on this list with all of that

said let's go to passive income idea

number one to show you how I like even

stumbled across the side hustle I'll

tell you that when I go to sleep I have

to have Netflix playing okay I'm just

not the person who just falls asleep to

pitch like black pitch or anything like

that I need to have Netflix playing and

so when it was around Christmas time I

wanted to switch it up and have like a

something Christmasy playing in the

background so I went to YouTube and I

stumbled across something called ambient

videos it was Christmas ambient videos

now this is really the perfect passive

income side hustle idea because all you

need to do is put up some type of

picture and then put some type of music

over it you don't have to show your face

you don't have have to do a lot of

editing you don't need to do a lot of

crazy stuff and there's people who are

having crazy amount of views from doing

this hundreds of thousands millions of

views and a lot of them don't even have

a lot of subscribers now all you need to

do is find a stock picture on you know a

free site and then you can find a green

screen video maybe of like some snow or

anything it really just depends on what

you're making the video about because it

could be anything nature ambiant videos

it could be Harry Potter ambian

Christmas fireplace Bookshop Cafe I've

watched them all honestly I've even

watched you know uh Cottage in the

forest ambiant videos you really can get

creative here find a stock video find

some green screen footage to put over it

so you can have some kind of moving

element like rain or snow or fire and

then all you need to do is find some

type of soundtrack now you can use

something like epidemic sound to find

all types of music and sound effects you

know picture of a fire put some

crackling sounds over that video of a

fire put some crackling sounds over that

bada boom upload that I'm not saying

that that's the niche that you want to

do but that's just an example because it

can really be so easy now you will earn

money from AdSense doing this but I

don't suggest stopping there there's so

many ways that you can monetize this you

can have affiliate links there so you

know that people who are watching your

video maybe they're trying to sleep or

maybe they're trying to study so can you

find an affiliate product that means

that you recommend a product and you get

a commission when somebody buys it that

is related to it so if it's one for like

you know you want people to go to sleep

to this video maybe your affiliate

product is pillows or sheet covers or

blackout curtains or whatever maybe

you're promoting a meditation app maybe

you have your own meditations that you

know you have and you want to link

people to that it could really be

anything if it's you know something that

helps people study they can play in the

background when they're studying maybe

you want to come out with some study

templates or link to um you know a

study-based affiliate product there's so

many ways that you can monetize this

that it really is such a good passive

income side hustle for beginners now one

of the best ways that I believe you can

monetize any platform whether it be

YouTube or Tik Tok or something else is

by creating digital products and driving

people to those digital products now

digital products is really anything that

somebody can download online so this is

a PDF file maybe it's a video maybe it's

a photo you know quite often it's like

PDF files and templates and ebooks and

stuff like that one thing that holds

beginners back is actually creating

products they don't know what to create

how to create it where to create that

well none of that is a problem anymore

if you sell

plr digital products now plr stands for

private label rights what this is is

that somebody else has already created a

digital prod product for you whether

this be an ebook a journal template a

study template a course template email

list template whatever it is they

created it and they are selling the

rights to that so that if all you need

to do is actually buy the rights to that

product and then you can resell it

wherever however whenever that you want

to the reason that this is good is

because you don't have to be a designer

you don't have to you know think of how

to put together this product somebody

has already done that for you there's a

website that I think is pretty good but

there's multiple different websites that

you can look at now the website that I

saw that was cool was plr.me but there's

a bunch of different websites that you

guys can use for plr products all you

need to do is figure out what Niche

you're going to be in are you going to

be in the productivity Niche where

you're selling goal setting templates or

goal setting journals or anything like

that you know and then you are the one

who is promoting and driving traffic to

your digital product on Tik Tok on

Instagram on YouTube whatever platform

you know you want to do it you have the

rights to sell it your job is just

marketing that product they have other

things on here like digital planners

coloring book bundles goal setting card

decks affirmation card decks and plenty

of other things just go through it and

see what you might want to sell and it's

an easy way for beginners to get started

because once you have your content in

place and your marketing stuff in place

it's going to be passive because people

can buy those digital products Whenever

Wherever they are in the world even

while you're sleeping just throw it up

on you know gumroad or throw it up on

stand store or something any platform

like that that you want to sell it on

now even though digital products are

great to sell and they're one of my

number one ways to make passive income

that's what I've built majority of my

businesses on the only thing about that

is that you sell them once and you're

done you know you can't really sell the

same person the same digital product

over and over and over so that puts a

limit on how much passive income you're

able to create because you either need

to create more products or you need to

get more customers with this next

passive income side hustle which is one

of the basis of my businesses you can

sell somebody something multiple times

and make money from them multiple times

if you promote something and then you

get a commission from it that is called

affiliate marketing affiliate marketing

I highly highly recommend but the way

that you want to do it is you want to

become an affiliate for something that

is a

membership app or course or whatever it

is so for example skillshare is one of

the Affiliates that I have I love

skillshare because you can learn

anything online when I was building my

copyright business about four years ago

I used skillshare every single day the

copyrighting courses by Alan Sharp to

teach me how to build my business and so

now I recommend it and when people sign

up for it I get a commission and they

sign up every month so I could get a

commission from that every month that

they're signed up now different

affiliate programs work in different

ways but if you're going to do affiliate

marketing I want you to go for one where

you can get paid each month from

somebody's membership because that is

like steady income that you can rely on

and you're making money off of that one

person multiple multiple times they're

getting a service that they like and

you're getting a commission from it so

it really is a win-win now how do you

know what affiliate products that you

want to sign up for or how to find them

or anything like that all you need to do

is just know what your Niche is first

and then from that you can figure out

what you want to sell so again if you're

in the productivity Niche which is just

about you know goal setting and becoming

a better person and self-improvement all

that then all you want to look up is

productivity affiliate programs on

Google and see what comes up or you can

just see what have you been using in

your daily life like I was using

skillshare every day so I was like a

skillshare affiliate program there's

another app that I was using when I was

learning how to like become financially

free it's called everend it used to be

called scribed but it's like the Netflix

for books and audio books I use that all

the time so I signed up for an affiliate

link on there by typing in um scribed

affiliate link see what you use every

day and then see just if you can sign up

for that for some of them you don't need

an audience and for some of them you do

so you're just going to have to look at

the terms and conditions of those but

once you sign up for your affiliate

program they're going to send you a

unique link now this link tracks

everything and it connects it to you so

they know that this person signed up

because energy is the one who you know

referred them to this product most

importantly make sure that you're only

promoting links and affiliate programs

that you actually use actually believe

in and you're not doing any scammy kind

of weird stuff okay because the things

that I promote I use them and they

genuinely help me I don't go with a lot

of affiliate programs but the ones I do

are the ones that I really believe in

from there just promote that and people

can tell when you're being genuine okay

all of the past ones that I've talked

about until now are about selling

something creating something you know

creating some content or whatever like

that but these next two passive income

side hustles are for the ones who they

don't want to be selling they don't

really want to even be online they don't

want to show their face at all they

don't care about social media things

like that these next two are for you

we've all heard about investing in

stocks and if you have been like looking

into investing in stocks you've probably

heard about day trading as well now both

of these two options are really good

options but for beginners I wouldn't say

that they're the best the type of

trading that I recommend is actually

called swing trading now with day

trading you know you're making small

trades like at a high frequency and with

um dollar cost averaging or like

long-term trading then you're waiting

years and years to maybe cash in on your

earnings but with swing trading you're

actually only waiting like a few weeks

to see okay has the price on the stock

that I bought went up and then I can

cash out on those earnings so the way

swing trading would work is that maybe

you buy something in January and then

you know your stock has went up because

like for example with Abra comi and

Fitch I hope I'm saying that right it

started to get really really big on Tik

Tok and like everybody was wanting to

buy that I guess that aesthetic was

coming back and So within a few months

the stock shot up so with swing trading

you're really like looking at the

current environment and saying what's

going on like you know in the media or

what's going on just in current events

that I think that this stock is really

going to perform well it's going to do

well so this does take some studying

into things but it's not as like you

know high stakes as like they trading or

something like that so swing trading is

something that you would want to look

into if you know you're looking for

something that could be passive but you

don't want to be online you don't want

to be on social media or anything like

that all you need to do for this one

though is really learn how to make the

right trades and stuff because you know

you don't want to get into a situation

where you're just losing all your money

right don't invest more than you're

willing to lose maybe start with $10

maybe start with $20 or something like

that and then learn the ropes and then

see if you can replicate that for people

who feel like you know what all the

things on this list are good but I need

something that can really earn me money

by doing nothing okay I want to sit on

my couch I don't want to do anything and

I still want passive income rolling in

you might think that that is too good to

be true but with this last passive

income s hustle it is actually exactly

as it sounds it is truly passive income

there's no risk there's no upfront work

or like learning stuff and there's no

added stress because you guaranteed are

going to get more money from this than

when you started now we've all heard

about savings accounts you put your

money here and then later you take it

out but we have something called a

certificate of deposit and Certificate

of Deposits are sort of similar to

savings account in the way that you put

your money somewhere and you don't touch

it the thing with CDs is that at the end

of a certain period wherever you placed

your CD whether it be with a bank or

whatever they're going to give you a

certain percentage of money back now

this is different than a high yield

savings account because with a high

yield savings account a lot of times the

percentages are not really good that you

get back but with CDs you can get rates

as high as

5.15% and so if you're like local high

yield savings account isn't really

giving you that you might want to look

into CDs because you know if I leave it

here for 6 months if I leave it here for

one year if I leave it here for 5 years

whatever I'm going to get this 5.15%

back or whatever it is for your you know

CD that you have the only thing is is

that you have to keep that money in

there for the amount of time that you

agree to keep it in there um it's not

like a other savings account where you

can just pull it out whenever no you're

going to get the percentage back if you

keep it in for that period of time with

this passive income stream you don't

need to actively manage it you don't

need to build an audience you don't need

to do any of that so this could be

another stream for you you can use any

mixture of these passive income ideas

because you know the more the marry the

more streams of income the better right

if you need even more ideas because

you're really ready to get to that bag

in 2024 then you can watch this video

right here my name's energy and I'll see

you guys in my next video