In this video, the speaker rates seven passive income ideas based on two criteria: how hard it is to get started and how hard it is to maintain and make money from each idea. Here’s a summary of the ratings for each idea:
1. Real Estate (2 types):
– Getting Started: 3/5
– Maintenance: Varies (depending on level of involvement)
2. Creatorpreneur (Content Creation):
– Getting Started: 1/5
– Maintenance: 4/5
3. Online Course:
– Getting Started: 2/5
– Maintenance: 2/5
4. Dividend Investing:
– Getting Started: 3/5
– Maintenance: 3/5
5. Digital Products:
– Getting Started: 2/5
– Maintenance: 3/5
6. Affiliate Marketing:
– Getting Started: 1/5
– Maintenance: 4/5
7. Productized Service:
– Getting Started: 4/5
– Maintenance: 4/5
The speaker provides insights into the ease of entry and the level of effort required to maintain each passive income stream. It’s important to note that the ratings are subjective and may vary depending on individual circumstances and efforts put into each venture.
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Your videos have become a staple of my Sunday routine. Love your content, it’s concise easily digestible while discussing concepts with the perfect amount of depth. Thanks
Thank you James!
The free finance tracker I use: https://nischa.me/personal-finance-tracker
please consider doing a tutorial video for this tracker
You should do modeling.
@Nischa Great vlogs! Text you later!
@Markis Couch text her? She doesn’t know you!
@Jules Wifey Thank you.
Thank you so much for the ideas, Nischa!
Would you also consider creating a video detailing how to disclose the pursuit of a side hustle with your current employer? E.g., when (and if) to disclose, how to manage it, etc.
That would be also extremely useful, and keep up the great work!
One of my favourite YouTubers. You are a delight to watch and listen to. I left school years ago but this is the most educational learning I have ever received, and one I genuinely feel interested in. I started an Etsy this year, which hasn’t made anything but like you said, there isn’t a thing as a get rich quick scheme…everything takes time. Great video as always.m
Thank you for giving these easy ideas in such an easy to understand format, rating etc ? I have to say I was initially triggered hearing the first idea using a rental. Unexpected ife changes have lead me to needing to be a renter with 2 young children and a beloved pet which many landlords in our country do not prefer. The rent owners are charging, as obviously this is an investment is absolutely exorbitant and places so much pressure on renters who are not and cannot get in a financial position to be able to buy their own single home, a basic need to have a home in life. Also the stipulations and generic stereotyping that happens make it very challenging for certain demographics to be able to get a rental. There’s a lot of inequality happening in this marketplace, so ethically I’d like to see less investing in rentals as a business in order to increase more supply of available homes and reduce the cost to buy one. Basically not making money off people who are needing a home. Perhaps there’s more regulation in place where you are to halt owners getting too carried away with the rental prices but here in nz landlords are trying to get maximum rent and preference is for professional couples usually.
Love the other ideas, thanks for sharing
Great ideas, Nischa! Thank you for sharing your knowledge in such an understandable way!
Hey Nischa, You probably have a video for this already, but just in case, how could we figure out how much we should be investing and reinvesting for these index funds? Thanks!
Wow a Youtuber in the personal finance space that actually gives a realistic perspective of additional passive income streams!!! So many Youtubers oversimplify their suggestions and make things seem SO easy but your actually rated the difficulty to start and overall maintenance. Kudos to you!! And a big thumbs up!!!
Yeah, very down to earth onformative video
When it comes to truly living off of passive income, in my opinion there’s no better option than being able to live off of dividends. While it’s true that there’s other different types of passive income, such as owning real estate properties, selling your own book or starting a blog, there’s really nothing out there that requires so little work to maintain than being able to live off of the dividend distributions of your investments.
With dividend investing, you automatically receive dividends directly into your brokerage or bank account every single month or quarter. It’s the absolute easiest way to earn a living without having to raise a finger, with the exception of checking your portfolio maybe once every couple months. Even if you couldn’t fully rely on dividends for a living, that extra money you receive could be the difference between working a job you hate and switching careers to a job you enjoy. Or it could be the difference between working full time and working part time and spending the rest of your time with family or friends doing whatever you wanna do.
Totally agree with you, as long as you have vetted the companies with fundamental and technical analysis, it’s a great way of getting passive income
All of these ideas work! Once you have the traffic and traction, the options really open up, and things become a lot easier. Good stuff, Nischa. And to everyone out there, hang in there y’all! ?
Hi Nischa!
Thank you for making this content I find this really helpful! I wanted to ask in terms of reading about different businesses I want to do research of a company to decide which one I would want to invest in where do you do your research? Is there one or few places to look besides their own website, but that will only show so much.
Again thank you!
Christina
Youtube algorithm got it this time. Discovered your channel for the first time and I watched 8 videos already and now how a totally different mindset about finances. Precise, clear and straight to the point topics. You’ve earned a subscriber here. Thank you Nischa.
Yeah, so simplified
Thanks to such videos, I set up my own business 9 months ago and have been selling digital courses and e-books. I’ve already made more money than I make in my day job as a director in the City of London (where I am in fact still working). So, it is possible and really fulfilling! ?? I love watching your videos, Nischa – thank you for inspiring me every week ♥️
Hey @magdalenabritish. What type of digital courses and e books to you sell, and on which platform have you been selling your course? Would be valuable information. Thank you ?
Some passive income ideas may be relatively easy to set up and maintain, such as investing in dividend-paying stocks or renting out a room in your home. Other ideas may require more time and effort to set up and manage, such as starting a side business or investing in real estate. It is important to consider the amount of time and effort you are willing to commit to a passive income idea before beginning. Additionally, it is important to be consistent and committed to your goals to ensure success.
Very informative video My best passive income is trading and investing in options, At first I needed to overcome fear of losing and also connecting with the wrong person. Now I can attest to the fact that I’m very profitable and I bought my first house through trade and not salary so it has become my best passive income
@Ariana Larry I will mail you also
Where can I contact you pls?
@Ariana Larry wholeheartedly all I can say is thank you and God bless you I made $10,430 from the suggestion you gave me thank you and I will keep my focus ?
Hey Ariana please can you give me a direct suggestion or recommendation ? Congrats on your wins I will wait for your response
@Sidney Johnson okay
Just found your channel and I’m really enjoying these videos as they are very clear and concise for investment newbies. No real gimmicky clickbait titles, silly meme/vid inserts, or vague nebulous answers. With the way the world is going, I’m looking to learn more about investing and alternative revenue streams. More importantly, I want to teach our daughter about investing and generating money, which my parents never passed on.
Love the transparency Nischa.
Keep up the content!
Could you do a video on trust Vs limited companies at some point down the line please.
Hi Nischa. I’m not sure how much you would know about this topic, but I would love it if you did a video on how and what to teach our children about financial literacy. Practical ways to start teaching them and how and when.
All good if you can’t.
God bless.
My largest holding is Amazons LBTNCRP300X . Glad it came out to be this. I’m a fanboy and I like Charles. He reminds me of Steve Jobs when he speaks.
Awesome! your potential seems timeless. Good time management, diversifying income flow and chalking out a plan remains the smart way to prepare for the unexpected and the best way to grow and sustain wealth. 4yrs in investing space and extremely pleased with the decision I made. The good news is — it’s not too late.