Beginner Passive Income Ideas to make $5,000/mo
Summary
TLDRThis 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
💰 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.
📚 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.
🏦 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.
Mindmap
Keywords
💡Passive Income
💡Ambient Videos
💡Monetization
💡Digital Products
💡Private Label Rights (PLR)
💡Affiliate Marketing
💡Swing Trading
💡Certificates of Deposit (CDs)
💡High Yield Savings Account
💡Investing
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
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