4 Lazy Ways To Make A Lot of Money Online While You Sleep (Passive Income)

Summary

The video discusses four simple, passive income streams that can help people earn money while they sleep. The speaker shares personal experiences, including advice from a multimillionaire named Jim, to demonstrate how anyone can set up income sources like dividend-paying stocks, passive side hustles, real estate investments through crowdfunding and REITs, and affiliate marketing. The video emphasizes the ease and accessibility of starting these streams and their potential to provide financial security, even for beginners, making the topic relatable and inspiring.

Takeaways

• 💤 The speaker emphasizes the importance of setting up income streams that continue to generate money even while you sleep.
• 💼 The concept of 'lazy' income streams is introduced, suggesting that anyone can set up these streams without requiring exceptional skills or knowledge.
• 🏆 A story about a multi-millionaire named Jim is shared to illustrate how even a young person can learn from successful individuals to build wealth.
• 🥩 The luxurious lifestyle of the multi-millionaire, symbolized by the Kobe beef steaks, is used to motivate the audience to strive for financial success.
• 💼 The speaker inquires about wealth-building strategies from Jim, who reveals that his wealth was not built solely through his construction company.
• 💰 The first income stream discussed is dividends from stock ownership, where companies reward shareholders with regular 'paychecks'.
• 📈 The speaker recommends investing in 'Dividend King' stocks, which have a history of paying consistent and increasing dividends for over 50 years.
• 🏦 A brokerage account is identified as a necessary tool for investing in dividend-paying stocks, with specific platforms like Weeble, Fidelity, and M1 Finance suggested.
• 📹 The second income stream mentioned is passive income, exemplified by a business model where high school students record youth soccer games for parents.
• 🏘️ Real estate is highlighted as a significant source of passive income, with a focus on crowdfunded real estate and REITs as accessible investment options.
• 🌐 The final income stream discussed is affiliate marketing, where niche blogs or websites generate income through recommending products and earning commissions.
• 🔗 The power of affiliate links is explained, where a small percentage of a sale is earned each time a reader clicks through and makes a purchase.

Q & A

What are the four income streams mentioned in the script that can work for you 24/7?

The four income streams mentioned are: 1) Dividends from stock ownership, 2) Passive income streams such as side hustles, selling courses, or creating content, 3) Real estate investments including physical real estate, real estate crowdsourcing, and REITs, and 4) Affiliate marketing through niche blogs or websites.

How does the speaker describe the ease of setting up these income streams?

The speaker describes these income streams as 'insanely lazy ways' and 'very easy to set up', implying that they do not require significant effort or expertise to initiate and can be managed by a normal person.

What is the significance of the Kobe beef steaks in the story shared by the speaker?

The Kobe beef steaks symbolize the wealth and lifestyle of the multi-millionaire Jim, which the speaker aspires to understand and emulate through learning about income streams.

What is a 'dividend King stock' as mentioned in the script?

A 'dividend King stock' refers to stocks that have a strong history of paying consistent and increasing dividends for 50 consecutive years or more.

How does one start receiving dividend paychecks from companies like Apple?

To start receiving dividend paychecks from companies like Apple, one needs to open a brokerage account, research and select dividend-paying stocks, buy shares of those stocks, and then wait to receive dividends paid out by the company.

What is the concept of 'passive income stream' as discussed in the script?

A 'passive income stream' is a source of income that requires minimal effort to maintain and can generate revenue with little to no ongoing work from the individual, such as through investments, automated sales, or content creation.

Can you explain the real estate investment strategy of 'crowdsourcing' as mentioned in the script?

Real estate crowdsourcing is a method that connects investors with real properties through the internet, allowing them to invest in real estate projects with minimal capital and without the need to manage the properties directly.

What are REITs and how do they provide passive income?

REITs (Real Estate Investment Trusts) are companies that own and operate income-producing real estate. They provide passive income by paying dividends to shareholders, similar to dividend-paying stocks, from the revenue generated by their properties.

How does affiliate marketing work as a passive income source?

Affiliate marketing works as a passive income source by promoting products or services through a blog or website and earning a commission for each sale made through unique affiliate links provided to the marketer.

What advice does the speaker give for building scalable and passive income streams?

The speaker advises focusing on passive income streams with low overhead, such as starting an Etsy print on demand shop, selling courses on platforms like Skillshare, or creating a YouTube channel, which can be started with minimal investment and are easily scalable.

Outlines

00:00

💸 Passive Income Streams for Wealth Building

The paragraph introduces the concept of setting up multiple income streams that work continuously, even while the individual is asleep. It emphasizes that these streams are easy to set up and can generate significant income. The speaker shares a personal anecdote about meeting a wealthy individual, Jim, who owns a commercial real estate construction company. The speaker learns that Jim's wealth was not built solely on his company but also on various income streams that are accessible and manageable for a regular person. The paragraph piques interest by suggesting that the information shared could be life-changing for viewers, especially those who consider themselves 'normal' individuals.

05:00

🏦 Building Wealth Through Dividends and Passive Income

This paragraph delves into the first of the four income streams mentioned by Jim: earning dividends from stock ownership. The speaker explains that companies like Coca-Cola and Apple pay dividends to their shareholders, which can be a passive income source. The process of setting up this income stream involves opening a brokerage account, researching dividend-paying companies, and investing in 'Dividend King' stocks that have a history of consistent dividend payments. The speaker also suggests that viewers might be able to live off these dividend incomes, highlighting the potential of this investment strategy to generate significant passive income.

10:02

📹 Passive Income from Youth Soccer Videos and Real Estate

The second income stream discussed is a passive business model where high school students record youth soccer games, and parents pay for the videos. This model is an example of creating passive income by outsourcing work. The paragraph then transitions into discussing passive income in general, suggesting various methods such as creating online courses, writing eBooks, or starting a YouTube channel. The speaker emphasizes the importance of creating scalable and low-overhead passive income streams. The paragraph also touches on Jim's real estate investments, highlighting two accessible methods for anyone to start with little money: real estate crowdfunding through platforms like Fundrise and investing in Real Estate Investment Trusts (REITs), which also provide dividends.

🌱 Affiliate Marketing as a Passive Income Source

The final paragraph focuses on affiliate marketing as a means of generating passive income. The speaker describes how Jim used niche blog websites to earn affiliate income by recommending products and earning commissions on sales made through affiliate links. The paragraph also discusses the speaker's own experience with affiliate marketing as a secondary income source for their YouTube channel. The speaker suggests that affiliate marketing can be a 'lazy' way to earn money if done correctly and invites viewers to request a dedicated video on the topic if interested. The paragraph concludes with a call to action for viewers to like and subscribe to the channel, emphasizing the community and the value of the information shared.

Keywords

💡Income Streams

Income streams refer to the various sources through which an individual or business generates revenue. In the video, the speaker emphasizes the importance of setting up multiple income streams that work passively, even while one is sleeping, to achieve financial freedom. The concept is central to the video's theme, as it outlines different methods to generate continuous income without constant active labor.

💡Passive Income

Passive income is money earned with little to no effort by the recipient after an initial setup of time or investment. The video discusses various ways to create passive income streams, such as dividends from stock investments and affiliate marketing, which allow the individual to earn money without actively working, aligning with the video's message of financial independence.

💡Dividends

Dividends are payments made by a corporation to its shareholders, usually as a distribution of profits. In the context of the video, the speaker mentions that investing in dividend-paying stocks is one way to create a passive income stream, as companies like Coca-Cola and Apple pay shareholders regular 'mini paychecks' or dividends.

💡Dividend King Stocks

Dividend King stocks are companies that have a history of consistently paying and increasing dividends for at least 50 consecutive years. The video suggests investing in such stocks as a reliable way to generate a steady income stream through dividends, illustrating the concept with a list of recommended stocks for viewers to consider.

💡Brokerage Account

A brokerage account is an account with a brokerage firm that allows individuals to buy and sell various financial instruments, such as stocks, bonds, and mutual funds. The video explains that opening a brokerage account is the first step to investing in dividend-paying stocks and setting up a passive income stream through dividends.

💡Passive Side Hustles

Passive side hustles are businesses or ventures that generate income with minimal ongoing effort after the initial setup. The video mentions creating passive side hustles as a way to earn money while not actively working, such as selling courses or writing ebooks, which can lead to income even when the creator is not actively involved.

💡Real Estate Crowdsourcing

Real estate crowdsourcing is a method of investing in real estate projects online, which allows individuals to invest in properties without the need for large sums of capital. The video highlights this as a 'lazy' way to invest in real estate, suggesting platforms like Fundrise, where one can invest in various real estate projects with minimal effort.

💡REITs (Real Estate Investment Trusts)

REITs are companies that own, operate, or finance income-generating real estate. The video explains that investing in REITs is another form of passive income, as they pay dividends to shareholders and can be easily bought and sold on the stock market, similar to stocks.

💡Affiliate Marketing

Affiliate marketing is a performance-based marketing strategy where businesses reward affiliates for each visitor or customer brought by the affiliate's own marketing efforts. In the video, the speaker describes how setting up niche blogs and including affiliate links can generate passive income through commissions on products or services sold through those links.

💡Niche Blogs

A niche blog is a website that focuses on a specific, narrow topic or market segment. The video uses the example of a gardening tips blog to illustrate how a niche blog can be used in affiliate marketing to generate income. By becoming an authority in a specific niche, the blog owner can recommend products and earn commissions through affiliate links.

Highlights

The speaker has established four income streams that generate money while they sleep.

These income streams are accessible and easy to set up for anyone, not requiring exceptional intelligence.

The potential earnings from these streams can be life-changing.

A story is shared about meeting a multi-millionaire who owns a commercial real estate construction company.

The multi-millionaire's wealth was not built solely by his construction company but also through other income streams.

Many millionaires use similar income streams, suggesting their effectiveness and accessibility.

The first income stream discussed is receiving dividends from owning shares in companies.

Dividends are 'many paychecks' sent by businesses to shareholders.

Examples of companies that pay dividends include Apple, Microsoft, Coca-Cola, and PepsiCo.

To start earning dividends, one needs to open a brokerage account and invest in dividend-paying stocks.

Dividend King stocks are recommended for their consistent and increasing dividend payments over 50 years.

Passive income streams can be built through various methods, such as side hustles, selling courses, or creating content.

The multi-millionaire's passive income included hiring high school students to record youth soccer games for parents.

Passive income should be scalable and low overhead, like starting an Etsy shop or a YouTube channel.

Real estate can be a significant source of passive income, even without owning physical properties.

Real estate crowdsourcing and REITs (Real Estate Investment Trusts) are recommended for those starting in real estate investing.

REITs pay dividends similar to stocks, providing a passive income stream from real estate investments.

Affiliate marketing is another income stream where one earns commissions by recommending products.

Niche blogs or YouTube channels can be effective platforms for affiliate marketing.

Affiliate marketing can be a secondary source of income, as demonstrated by the speaker's YouTube channel.

Transcripts

when I go to sleep at night I can rest

easy knowing that as I'm sleeping my

pockets are continuing to get filled

with money that is lots and lots of

money and that's because I've set up

four income streams that work for me 24

7 even while I'm sleeping and the best

part is that it doesn't take a genius to

start these income streams no these are

four insanely lazy ways that any normal

person can make money while they sleep

and all of these income streams are very

easy to set up and can potentially make

you life-changing money and so if you

consider yourself to be a normal person

then these next 10 minutes could

literally be game changing for you now

don't worry we're going to talk about

exactly what these four income streams

are but I want to tell you a story so

several years ago I had the privilege of

meeting this multi-millionaire through

an acquaintance of mine and this guy

owned a commercial real estate

construction company and so he was

insanely wealthy and I remember we're at

this guy's house and his house was

absolutely beautiful and I'll never

forget it okay so in the kitchen they

have this big tray of these like

perfectly seasoned juicy Kobe beef

steaks and they're just tossing these

steaks on the grill and passing them out

like it's nothing and just in case you

don't know one of these Stakes can cost

anywhere from like 100 to 200 for a

single 12 ounce steak but anyways fast

forward a little bit I got acquainted

with this guy and I decided one day to

send him a text message and so I asked

him I said hey Jim that was his name his

name was Jim Ernest okay so I said Jim I

don't want to be rude or anything but

I'm really hungry for more of those Kobe

beef steaks and that's that's not what I

said okay I said I'm really hungry to

know how exactly you built your wealth

like I'm just really curious because I

want that for myself as well and at the

time I was just turning about 19 or 20.

and so a couple hours goes by and I'm

getting nervous because I'm like I hope

I didn't ask the wrong question but

eventually he replies back and he says

Hey Joshua I appreciate the question I

appreciate your forwardness my biggest

source of income right now is through my

construction company but that's not

actually how I built my wealth to begin

with and that's that's when I got really

intrigued because if his only source of

income was through his Construction

Company then little Joshua didn't have a

chance because that was way out of my

league fortunately though what he did

end up saying were a few things that

were not not out of my league and he

also alluded to the fact that many of

his millionaire friends also had all

these income streams in some form and so

obviously their income streams that are

profitable enough for millionaires to

continue using them but they're easy

enough to start that a regular person

can start them and so now I'd like to

talk with you about exactly what these

income streams are and how you can start

building them for yourself so the first

income stream that he talked about were

the many paychecks that businesses would

send him on a regular basis now this

isn't like Mafia level stuff right he

wasn't going around to different

businesses whacking people for not

paying him his cut no let me put it this

way okay imagine a company like

Coca-Cola that's been around since like

1892 decides you know we've been

building this company for over 100 years

now and we make too much money I think

that we want to start rewarding people

for buying our stock and so when you go

and buy shares of Coca-Cola stock at 50

a share or whatever it's currently

trading at Coca-Cola will start sending

you what I like to refer to as many

paychecks and some of you might know

them as just being called dividends and

so the way this works is many companies

that trade on the stock market will will

pay their shareholders these mini

paychecks or these dividends just for

owning shares of their stock and large

companies like Apple at T Microsoft

Coca-Cola PepsiCo and hundreds of

America's largest companies pay their

shareholders these micro paychecks and

so the question becomes how exactly can

you start making this income stream work

in your life like how can you set it up

so that when you go to sleep at night

you know that you're continuing to make

money because Tim Cook at Apple is

writing checks for you while you sleep

here's how you do it the first thing you

need is a brokerage account I recommend

going with either Weeble Fidelity

Vanguard or M1 Finance of those four

Weeble is probably the most user

friendly if you're new to buying stock

plus right now if you open up an account

with Weeble and deposit just one penny

we will give you 12 free stocks valued

up to thirty six thousand dollars next

once your account is open you'll do some

research to figure out what companies

actually pay dividends now I'd

personally recommend that you only go

with dividend King stocks these are

stocks that have a strong history of

paying consistent increasing dividends

for 50 consecutive years or more and

here's a list of some of the best

dividend King stocks feel free to pause

the video here and write some of these

down next once you've selected which

dividend King stocks you want to

actually invest in you're going to go

into your brokerage account and actually

buy those stocks now the good thing is

that with Brokers like Weeble you can

buy fractional shares of these stocks

and so this means if you wanted to start

receiving paychecks from say apple but

you didn't have 150 to spend on Apple

you could just buy a fraction of that

150 share as little as one dollar and

then after you buy the stock that's it

you just wait and then every month or

every quarter whenever the stock pays

dividends you'll receive paychecks

directly to your brokerage account which

you can use for whatever you want and

believe it or not some people can even

live off of the dividend paychecks they

receive and never have to work it does

take time to build this type of

portfolio up but a lot of people do it

now if you'd like me to make a dedicated

video about this about how you can live

off of your dividend paycheck drop a

comment down below and say Yes Joshua I

would love a video about dividend

paychecks and leave a heart emoji or

something so that I know you mean it

anyways the next income stream that Jim

talked about that contributed to his

wealth and allowed him to make money

passively was having passive income

stream now Jim specifically had this

business where he would hire these high

school kids and he would have these high

schoolers go out to these youth soccer

games and record the games for the

parents and these parents would pay a

lot of money to have you know a high

quality video of their little Sammy

running up and down the field playing

soccer and this was all completely

passive for Jim right because remember

he hired the high school kids to

actually record the games for him and

all Jim had to do was just collect

payments from all the parents who wanted

to buy a DVD now obviously I'm not

saying that you should go out and start

you know a youth soccer video company

but what I'm saying is you need to

figure out how you can start building

passive streams of income in general and

this could be from starting a passive

side hustle like the dozens of side

hustles that I talk about on my channel

it could be from selling courses or

writing ebooks or starting a YouTube

channel or anything that's going to

create passive income for you this means

when you go to sleep at night or when

you sit down to watch Netflix or when

you hang out with your friends or go

walk your dog or do whatever it is that

you do when when you're not working

you're still actually making money

because these passive income streams are

always working behind the scenes for you

now I tell people this all the time okay

you want to build passive income streams

that are actually going to be scalable

what exactly does this mean well for

example going and starting a pressure

washing business is not really scalable

nor is it passive right because in this

situation you're having to trade your

time for money you have to physically go

out to properties and do work before you

can get paid now you certainly can you

know make it more scalable and a lot

more Passive by hiring people and then

having those people that you hired go

out and pressure wash for you and that's

exactly what Jim did he went out and he

hired high school kids for cheap to go

and record these soccer games for him so

that he didn't have to use his time to

be at every single one of these soccer

games recording the event it's

definitely an option but it does come

with a cost and so something that I've

always preferred for myself and I would

recommend this for most people as well

is to find passive income streams that

have low overhead things like starting

an Etsy print on demand shop or you

could do things like selling courses on

skillshare or are starting a YouTube

channel these can all be started with

just one person you little to no money

and are very easily scalable and passive

the next passive income stream was one

that Jim said was probably his biggest

source of passive income and that is

real estate but he was really quick to

point out the fact that although he did

own physical real estate a larger

percentage of his real estate portfolio

was actually not in physical real estate

but in a couple of other real estate

Investments and he mentioned two

different real estate Investments that

basically anybody can start with very

little money and both of these real

estate Investments are very lazy and

passive the first real estate investment

that he mentioned was real estate

crowdsourcing this is a method of real

estate investing that connects investors

with real properties through the

internet and the best thing about

crowdsourcing is that you don't need a

lot of money to start investing and so

with crowdsourcing you're using sites

like fundrise to go and invest in real

estate projects and so this could be

anything from single family homes to

entire apartment complexes and different

types of commercial real estate and so

to get started with real estate

crowdsourcing all you would do do is

sign up for a site like fundrise choose

your Investments and start investing

it's super simple completely hands off

and a perfect way to get your money

working for you 24 7. the next Real

Estate Investment that he talked about

was buying REITs or real estate

investment trusts so a read is a company

that owns and operates income producing

real estate and So when you buy shares

of a Reit you're essentially investing

in all of the underlying real estate

that that we own and so this could be

shopping centers hospitals Office

Buildings and even cellular towers now

you may be thinking right now yeah but

Joshua how exactly does a Reit pay me in

my sleep well very similar to dividend

paying stocks REITs also pay a monthly

or quarterly dividend plus just like

stocks reitsar also bought and sold on

the stock market and so they're

extremely easy to invest in all you

would do is go to your brokerage account

type in the name of the read that you

wanted to invest in buy shares of it and

then from that point you'll start

receiving dividend paychecks whenever

the Reit pays dividends which is

typically every month or every quarter

and so yes Jim did own physical real

estate but he also owned a lot of REITs

and he did a lot of investing using

crowdsourcing websites and the last

source of income that Jim mentioned was

affiliate marketing and what he did

specifically was a built and ran Niche

blog websites that generated affiliate

income now I don't know exactly what

nisha's his blogs were in but an example

of this would be like a gardening tips

blog an entire blog dedicated to

gardening right how to grow the biggest

and juiciest Tomatoes what type of

fertilizer to use to make your tulips

big and tall and then inside of that

blog because you're talking about one

subject and you're becoming an authority

on that subject and you're building

trust with your audience you would

recommend products and services within

the blog post and so for example perhaps

the best fertilizer to use to make your

tulips grow big and tall is Frankie's

ferocious fertilizer and so you would

mention that fertilizer in the blog post

and there would be a link for the reader

to click on that would lead them to

maybe Amazon or somewhere else where

they can buy that fertilizer however

this link is not just an ordinary link

this is actually an affiliate link and

so anytime a reader clicks on that link

and then proceeds to buy that fertilizer

you're going to receive a small Kickback

or commission for them purchasing that

fertilizer now what I've learned over

the years is that you can either treat

affiliate marketing as a primary source

of income or a secondary source for

example here on my YouTube channel

affiliate marketing is a secondary

source of income I make anywhere between

10 and 15 000 per month with affiliate

marketing but that makes up a smaller

percentage of my total monthly income

for my channel now if I wanted to I

could focus a lot more of my energy on

affiliate marketing to make more money

but I choose to keep that income source

as passive as possible so that I can use

that energy somewhere else now obviously

whenever I can I'll try and post

affiliate links in the descriptions of

my videos but in most cases I'm not like

actively pushing those links in my

videos all the time it's just kind of

this secondary thing in the background

right where if someone happens to click

on my video description and they see my

Amazon storefront for example and they

click on it and they buy a product from

it well great I'll get a small

commission from that but it's not

something that I'm always actively

promoting now if you did run like a

specific Niche blog or even a niche

YouTube Channel then in that situation

it might actually make more sense to

focus more energy on affiliate marketing

especially if that's going to be your

primary source of income now affiliate

marketing is a very broad complex

subject that goes Way Beyond the scope

of this specific video once again if you

guys would like a dedicated step-by-step

video about how to get started with

affiliate marketing drop a comment down

below but generally affiliate marketing

can be a very lazy and passive source of

income that if Done Right can make you a

lot of money and if you have not already

dropped a like down below for the YT

algo or subscribe to the channel I

really don't know what you're waiting

for it would mean the world to me if you

did both those things you guys are all

truly amazing and I appreciate every

last one of you watching I mean that and

I hope that you have a beautiful rest of

your day or night or afternoon or

whatever and as always I will see you

again very soon take care